
Concept explainers
The following
STANDARD COST CARD PER UNIT
Materials: 4 feet × $14.25 per foot $ 57.00
Direct labor: 8 hours × $10 per hour 80.00
Variable
Fixed overhead: 8 direct labor hours × $12 per hour 96.00
Total standard cost per unit $297.00
The following information is available regarding the company's operations for the period:
Units produced: |
11,000 |
Materials purchased: |
52,000 feet at $13.95 per foot |
Materials used: |
40,000 feet |
Direct labor: |
84,000 hours costing $840,000 |
|
|
Manufacturing overhead incurred: |
|
Variable |
$756,000 |
Fixed |
$1,000,000 |
Budgeted fixed manufacturing overhead for the period is $960,000, and the standard fixed overhead rate is based on expected capacity of 80,000 direct labor hours.
Required:
- Calculate the materials price variance.
- Calculate the materials usage variance.
- Calculate the direct labor rate variance.
- Calculate the direct labor efficiency variance.
- Calculate the variable manufacturing overhead spending variance.
- Calculate the variable manufacturing overhead efficiency variance.
- Calculate the fixed manufacturing overhead spending variance.
- Calculate the fixed manufacturing overhead volume variance.

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Can you please solve the rest of the subparts for this question
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