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Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials-1 pound plastic at $6.00 per pound $ 6.00 Direct labor-0.5 hours at $11.90 per hour 5.95 Variable manufacturing overhead 3.00 Fixed manufacturing overhead 5.00 Tatal standard cost per unk $19.95 The predetermined manufacturing overhead rate is $16.00 per direct labor hour ($8.00 + 0.5). It was computed from a master manufacturing overhead budget based on normal production of 2,600 direct labor hours (5,200 units) for the month. The master budget showed total variable costs of $15,600 ($6.00 per hour) and total fixed Direct materials (3,190 pounds) $ 19,459 Direct labor (1,390 hours) 17,097 Variable overhead 18,238 Fixed overhead 7,562 Total manufacturing costs $62,356 The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. (a) Compute all of the meterials and lebor variances. Tatal materials variance Materials price variance Materials quantity variance

Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials-1 pound plastic at $6.00 per pound $ 6.00 Direct labor-0.5 hours at $11.90 per hour 5.95 Variable manufacturing overhead 3.00 Fixed manufacturing overhead 5.00 Tatal standard cost per unk $19.95 The predetermined manufacturing overhead rate is $16.00 per direct labor hour ($8.00 + 0.5). It was computed from a master manufacturing overhead budget based on normal production of 2,600 direct labor hours (5,200 units) for the month. The master budget showed total variable costs of $15,600 ($6.00 per hour) and total fixed Direct materials (3,190 pounds) $ 19,459 Direct labor (1,390 hours) 17,097 Variable overhead 18,238 Fixed overhead 7,562 Total manufacturing costs $62,356 The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. (a) Compute all of the meterials and lebor variances. Tatal materials variance Materials price variance Materials quantity variance

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...
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A.compute all materials and labor variances

B. Compute total overhead variance

 

Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials-1 pound plastic at $6.00 per pound $ 6.00 Direct labor-0.5 hours at $11.90 per hour 5.95 Variable manufacturing overhead 3.00 Fixed manufacturing overhead 5.00 Tatal standard cost per unit $19.95 The predetermined manufacturing overhead rate is $16.00 per direct labor hour ($8.00 + 0.5). It was computed from a master manufacturing overhead budget based on normal production of 2,600 direct labor haurs (5,200 units) for the month. The master budget showed total variable costs of $15,600 ($6.00 per hour) and total fixed overhead costs of $26,000 ($10.00 per hour). Actual costs for October in producing 3,000 units were as foliows. Direct materials (3,190 pounds) $ 19,459 Direct labor (1,390 hours) 17,097 Variable overhead 18,238 Fixed overhead 7,562 Total manufacturing costs $62,356 The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. (a) Compute all of the materials and lebor variances. Tatal materials variance Materials price variance Materials quantity variance
Transcribed Image Text:Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials-1 pound plastic at $6.00 per pound $ 6.00 Direct labor-0.5 hours at $11.90 per hour 5.95 Variable manufacturing overhead 3.00 Fixed manufacturing overhead 5.00 Tatal standard cost per unit $19.95 The predetermined manufacturing overhead rate is $16.00 per direct labor hour ($8.00 + 0.5). It was computed from a master manufacturing overhead budget based on normal production of 2,600 direct labor haurs (5,200 units) for the month. The master budget showed total variable costs of $15,600 ($6.00 per hour) and total fixed overhead costs of $26,000 ($10.00 per hour). Actual costs for October in producing 3,000 units were as foliows. Direct materials (3,190 pounds) $ 19,459 Direct labor (1,390 hours) 17,097 Variable overhead 18,238 Fixed overhead 7,562 Total manufacturing costs $62,356 The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. (a) Compute all of the materials and lebor variances. Tatal materials variance Materials price variance Materials quantity variance
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