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Required: Compute the following cost variances from the available data. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (l.e., zero variance). Do not round Intermediate calculations.) Direct-material price variance Direct-material purchase price variance Direct-material quantity variance Direct-labor rate variance Direct-labor efficiency variance Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Answer is not complete. $ $ (4,200) (4,200) $ $ (2,100) (4,400) $(11,200) $ 2,750 $(1.260.00) $ (5,700) Unfavorable Unfavorable Unfavorable Unfavorable Unfavorable Favorable O O O Unfavorable O Unfavorable •

Required: Compute the following cost variances from the available data. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (l.e., zero variance). Do not round Intermediate calculations.) Direct-material price variance Direct-material purchase price variance Direct-material quantity variance Direct-labor rate variance Direct-labor efficiency variance Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Answer is not complete. $ $ (4,200) (4,200) $ $ (2,100) (4,400) $(11,200) $ 2,750 $(1.260.00) $ (5,700) Unfavorable Unfavorable Unfavorable Unfavorable Unfavorable Favorable O O O Unfavorable O Unfavorable •

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter10: Standard Costing And Variance Analysis
Section: Chapter Questions
Problem 28BEA: Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Rath Company...
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Chillico Corporation produces containers of frozen food. During April, Chillico produced 800 cases of food and incurred the following actual costs. Variable overhead Fixed overhead Actual labor cost (5,500 direct-labor hours) Actual material cost (21,000 pounds purchased and used) Overhead is budgeted and applied using direct-labor hours in a standard costing system. Standard cost and annual budget Information are as follows: Standard Costs per Case Direct labor (6 hours at $16 per hour) Direct material (25 pounds at $2.10 per pound) Variable overhead (6 direct-labor hours at $1.80 per hour) Fixed overhead (6 direct-labor hours at $3 per hour) Total Annual Budget Information $108,000 $180,000 60,000 direct-labor hours $7,200 15,700 92,400 49,300 Variable overhead Fixed overhead Planned activity for year $ 96.00 52.50 10.80 18.00 $177.30
Transcribed Image Text:Chillico Corporation produces containers of frozen food. During April, Chillico produced 800 cases of food and incurred the following actual costs. Variable overhead Fixed overhead Actual labor cost (5,500 direct-labor hours) Actual material cost (21,000 pounds purchased and used) Overhead is budgeted and applied using direct-labor hours in a standard costing system. Standard cost and annual budget Information are as follows: Standard Costs per Case Direct labor (6 hours at $16 per hour) Direct material (25 pounds at $2.10 per pound) Variable overhead (6 direct-labor hours at $1.80 per hour) Fixed overhead (6 direct-labor hours at $3 per hour) Total Annual Budget Information $108,000 $180,000 60,000 direct-labor hours $7,200 15,700 92,400 49,300 Variable overhead Fixed overhead Planned activity for year $ 96.00 52.50 10.80 18.00 $177.30
Required: Compute the following cost variances from the available data. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (l.e., zero variance). Do not round Intermediate calculations.) Direct-material price variance Direct-material purchase price variance Direct-material quantity variance Direct-labor rate variance Direct-labor efficiency variance Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Answer is not complete. $ Unfavorable (4,200) S (4,200) Unfavorable S (2,100) Unfavorable $ (4,400) Unfavorable $ (11,200) Unfavorable 2,750 Favorable Unfavorable Unfavorable $ $ (1,260.00) $ (5,700) 00000000
Transcribed Image Text:Required: Compute the following cost variances from the available data. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (l.e., zero variance). Do not round Intermediate calculations.) Direct-material price variance Direct-material purchase price variance Direct-material quantity variance Direct-labor rate variance Direct-labor efficiency variance Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Answer is not complete. $ Unfavorable (4,200) S (4,200) Unfavorable S (2,100) Unfavorable $ (4,400) Unfavorable $ (11,200) Unfavorable 2,750 Favorable Unfavorable Unfavorable $ $ (1,260.00) $ (5,700) 00000000
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