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Xavier Company produces a single product. Variable manufacturing overhead is applied to prod- ucts on the basis of direct labor-hours. The standard costs for one unit of product are as follows: Direct material: 6 ounces at $0.50 per ounce Direct labor: 0.6 hours at $30.00 per hour.... Variable manufacturing overhead: 0.6 hours at $10.00 per hour.. $ 3.00 18.00 6.00 Total standard variable cost per unit.. $27.00 During June, 2,000 units were produced. The costs associated with June's operations were as Follows: Material purchased: 18,000 ounces at $0.60 per ounce. Material used in production: 14,000 ounces. Direct labor: 1,100 hours at $30.50 per hour Variable manufacturing overhead costs incurred $10,800 $33,550 $12,980 Required: Compute the direct materials, direct labor, and variable manufacturing overhead variances.

Xavier Company produces a single product. Variable manufacturing overhead is applied to prod- ucts on the basis of direct labor-hours. The standard costs for one unit of product are as follows: Direct material: 6 ounces at $0.50 per ounce Direct labor: 0.6 hours at $30.00 per hour.... Variable manufacturing overhead: 0.6 hours at $10.00 per hour.. $ 3.00 18.00 6.00 Total standard variable cost per unit.. $27.00 During June, 2,000 units were produced. The costs associated with June's operations were as Follows: Material purchased: 18,000 ounces at $0.60 per ounce. Material used in production: 14,000 ounces. Direct labor: 1,100 hours at $30.50 per hour Variable manufacturing overhead costs incurred $10,800 $33,550 $12,980 Required: Compute the direct materials, direct labor, and variable manufacturing overhead variances.

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead
Section: Chapter Questions
Problem 20P: Jillian Manufacturing Inc. manufactures a single product and uses a standard cost system. The...
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neview Problem Xavier Company produces a single product. Variable manufacturing overhead is applied to prod- ucts on the basis of direct labor-hours. The standard costs for one unit of product are as follows: Direct material: 6 ounces at $0.50 per ounce Direct labor: 0.6 hours at $30.00 per hour.. Variable manufacturing overhead: 0.6 hours at $10.00 per hour.. $ 3.00 18.00 6.00 Total standard variable cost per unit.. $27.00 During June, 2,000 units were produced. The costs associated with June's operations were as follows: Material purchased: 18,000 ounces at $0.60 per ounce. Material used in production: 14,000 ounces. Direct labor: 1,100 hours at $30.50 per hour Variable manufacturing overhead costs incurred $10,800 $33,550 $12,980 Required: Compute the direct materials, direct labor, and variable manufacturing overhead variances.
Transcribed Image Text:neview Problem Xavier Company produces a single product. Variable manufacturing overhead is applied to prod- ucts on the basis of direct labor-hours. The standard costs for one unit of product are as follows: Direct material: 6 ounces at $0.50 per ounce Direct labor: 0.6 hours at $30.00 per hour.. Variable manufacturing overhead: 0.6 hours at $10.00 per hour.. $ 3.00 18.00 6.00 Total standard variable cost per unit.. $27.00 During June, 2,000 units were produced. The costs associated with June's operations were as follows: Material purchased: 18,000 ounces at $0.60 per ounce. Material used in production: 14,000 ounces. Direct labor: 1,100 hours at $30.50 per hour Variable manufacturing overhead costs incurred $10,800 $33,550 $12,980 Required: Compute the direct materials, direct labor, and variable manufacturing overhead variances.
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