Business, 24.04.2020 17:22 trinidymwilga
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows:
Direct materials: 5 pounds at $9 per pound $ 45
Direct labor: 3 hours at $14 per hour 42
Variable overhead: 3 hours at $8 per hour 24
Total standard cost per unit $ 111
The planning budget for March was based on producing and selling 28,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs:
a.
Purchased 180,000 pounds of raw materials at a cost of $8.50 per pound. All of this material was used in production.
b.
Direct laborers worked 69,000 hours at a rate of $15 per hour.
c. Total variable manufacturing overhead for the month was $565,200.
1.
value:
0.66 points
1. What raw materials cost would be included in the company�s planning budget for March?
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2.
value:
0.66 points
2. What raw materials cost would be included in the company�s flexible budget for March?
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3.
value:
0.66 points
3.
What is the materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i. e., zero variance.).)
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4.
value:
0.66 points
4.
What is the materials quantity variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i. e., zero variance.).)
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5.
value:
0.66 points
5.
If Preble had purchased 184,000 pounds of materials at $8.50 per pound and used 180,000 pounds in production, what would be the materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i. e., zero variance.).)
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6.
value:
0.66 points
6.
If Preble had purchased 184,000 pounds of materials at $8.50 per pound and used 180,000 pounds in production, what would be the materials quantity variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i. e., zero variance.).)
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7.
value:
0.66 points
7. What direct labor cost would be included in the company�s planning budget for March?
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8.
value:
0.66 points
8. What direct labor cost would be included in the company�s flexible budget for March?
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9.
value:
0.66 points
9.
What is the labor rate variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i. e., zero variance.).)
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10.
value:
0.66 points
10.
What is the labor efficiency variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i. e., zero variance.).)
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11.
value:
0.66 points
11.
What is the labor spending variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i. e., zero variance.).)
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12.
value:
0.66 points
12.
What variable manufacturing overhead cost would be included in the company�s planning budget for March?
check my workreferencesebook & resources
13.
value:
0.66 points
13.
What variable manufacturing overhead cost would be included in the company�s flexible budget for March?
check my workreferencesebook & resources
14.
value:
0.66 points
14.
What is the variable overhead rate variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i. e., zero variance.).)
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15.
value:
0.76 points
15.
What is the variable overhead efficiency variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i. e., zero variance.).)
Answers: 2
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