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Problem 16-74 (Static) Variance Computations with Missing Data (LO 16-5, 6) Anthon Corporation has provided the following information regarding last month's activities. Units produced (actual) Master production budget Direct materials Direct labor Overhead Standard costs per unit Direct materials Direct labor Variable overhead Actual costs Direct materials purchased and used Direct labor Overhead Direct materials Direct labor Variable overhead Fixed overhead $ $ $ $ Variable overhead is applied on the basis of direct labor-hours. Required: Calculate all variable production cost price and efficiency variances and fixed production cost price and production volume variances. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Price Variance 3,192 F 0X U U 26,316 11,500 U 10,500 $ 237,600 201,600 267,000 $ $ $ $ 3.96 per liter x 5 liters per unit of output $33.60 per hour x 0.5 hour per unit $ 28.50 per direct labor-hour Answer is complete but not entirely correct. EA $ 207,480 (53,200 liters) 176,472 (5,160 hours) 272,000 (58% is variable) Efficiency Variance 2,772 U 3,024 F 3,024 X F Production Volume Variance 25,000 U

Problem 16-74 (Static) Variance Computations with Missing Data (LO 16-5, 6) Anthon Corporation has provided the following information regarding last month's activities. Units produced (actual) Master production budget Direct materials Direct labor Overhead Standard costs per unit Direct materials Direct labor Variable overhead Actual costs Direct materials purchased and used Direct labor Overhead Direct materials Direct labor Variable overhead Fixed overhead $ $ $ $ Variable overhead is applied on the basis of direct labor-hours. Required: Calculate all variable production cost price and efficiency variances and fixed production cost price and production volume variances. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Price Variance 3,192 F 0X U U 26,316 11,500 U 10,500 $ 237,600 201,600 267,000 $ $ $ $ 3.96 per liter x 5 liters per unit of output $33.60 per hour x 0.5 hour per unit $ 28.50 per direct labor-hour Answer is complete but not entirely correct. EA $ 207,480 (53,200 liters) 176,472 (5,160 hours) 272,000 (58% is variable) Efficiency Variance 2,772 U 3,024 F 3,024 X F Production Volume Variance 25,000 U

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter13: Budgeting And Standard Costs
Section: Chapter Questions
Problem 13.5P: Direct materials and direct labor, variance analysis; factory overhead cost variance analysis Route...
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Problem 16-74 (Static) Variance Computations with Missing Data (LO 16-5, 6) Anthon Corporation has provided the following information regarding last month's activities. Units produced (actual) Master production budget Direct materials Direct labor Overhead Standard costs per unit Direct materials Direct labor Variable overhead Actual costs Direct materials purchased and used Direct labor Overhead Direct materials Direct labor Variable overhead Fixed overhead $ Variable overhead is applied on the basis of direct labor-hours. Required: Calculate all variable production cost price and efficiency variances and fixed production cost price and production volume variances. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. $ $ $ 10,500 $ 237,600 201,600 267,000 Price Variance 3,192 F 0x U 26,316 X U 11,500 X U $3.96 per liter x 5 liters per unit of output $ 33.60 per hour x 0.5 hour per unit $28.50 per direct labor-hour ✓$ ✓$ ✓$ ✓ $207,480 (53,200 liters) 176,472 (5,160 hours) 272,000 (58% is variable) > Answer is complete but not entirely correct. Efficiency Variance 2,772 U 3,024 F 3,024 F ✓ ✓ ✓ $ Production Volume Variance 25,000 U ✔
Transcribed Image Text:Problem 16-74 (Static) Variance Computations with Missing Data (LO 16-5, 6) Anthon Corporation has provided the following information regarding last month's activities. Units produced (actual) Master production budget Direct materials Direct labor Overhead Standard costs per unit Direct materials Direct labor Variable overhead Actual costs Direct materials purchased and used Direct labor Overhead Direct materials Direct labor Variable overhead Fixed overhead $ Variable overhead is applied on the basis of direct labor-hours. Required: Calculate all variable production cost price and efficiency variances and fixed production cost price and production volume variances. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. $ $ $ 10,500 $ 237,600 201,600 267,000 Price Variance 3,192 F 0x U 26,316 X U 11,500 X U $3.96 per liter x 5 liters per unit of output $ 33.60 per hour x 0.5 hour per unit $28.50 per direct labor-hour ✓$ ✓$ ✓$ ✓ $207,480 (53,200 liters) 176,472 (5,160 hours) 272,000 (58% is variable) > Answer is complete but not entirely correct. Efficiency Variance 2,772 U 3,024 F 3,024 F ✓ ✓ ✓ $ Production Volume Variance 25,000 U ✔
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