8-901
8-902
317.
Eliezrie Corporation makes a product with the following standard costs:
Standard
Quantity
or Hours
Standard
Price
or Rate
Standard
Cost
Per Unit
Direct
materials
6.5 kilos
$1.00 per
kilo
$6.50
Direct
labor
0.3 hours
$10.00
per hour
$3.00
Variable
overhead
0.3 hours
$4.00 per
hour
$1.20
In January the company’s budgeted production was 7,400 units but the actual production
was 7,500 units. The company used 45,580 kilos of the direct material and 2,030 direct
labor-hours to produce this output. During the month, the company purchased 48,500 kilos
of the direct material at a cost of $53,350. The actual direct labor cost was $18,473 and
the actual variable overhead cost was $7,714.
The company applies variable overhead on the basis of direct labor-hours. The direct
materials purchases variance is computed when the materials are purchased.
The labor efficiency variance for January is:
8-903
318.
Eliezrie Corporation makes a product with the following standard costs:
Standard
Quantity
or Hours
Standard
Price
or Rate
Standard
Cost
Per Unit
Direct
materials
6.5 kilos
$1.00 per
kilo
$6.50
Direct
labor
0.3 hours
$10.00
per hour
$3.00
Variable
overhead
0.3 hours
$4.00 per
hour
$1.20
In January the company’s budgeted production was 7,400 units but the actual production
was 7,500 units. The company used 45,580 kilos of the direct material and 2,030 direct
labor-hours to produce this output. During the month, the company purchased 48,500 kilos
of the direct material at a cost of $53,350. The actual direct labor cost was $18,473 and
the actual variable overhead cost was $7,714.
The company applies variable overhead on the basis of direct labor-hours. The direct
materials purchases variance is computed when the materials are purchased.
The labor rate variance for January is:
8-905
8-906
319.
Eliezrie Corporation makes a product with the following standard costs:
Standard
Quantity
or Hours
Standard
Price
or Rate
Standard
Cost
Per Unit
Direct
materials
6.5 kilos
$1.00 per
kilo
$6.50
Direct
labor
0.3 hours
$10.00
per hour
$3.00
Variable
overhead
0.3 hours
$4.00 per
hour
$1.20
In January the company’s budgeted production was 7,400 units but the actual production
was 7,500 units. The company used 45,580 kilos of the direct material and 2,030 direct
labor-hours to produce this output. During the month, the company purchased 48,500 kilos
of the direct material at a cost of $53,350. The actual direct labor cost was $18,473 and
the actual variable overhead cost was $7,714.
The company applies variable overhead on the basis of direct labor-hours. The direct
materials purchases variance is computed when the materials are purchased.
The variable overhead efficiency variance for January is:
8-907
320.
Eliezrie Corporation makes a product with the following standard costs:
Standard
Quantity
or Hours
Standard
Price
or Rate
Standard
Cost
Per Unit
Direct
materials
6.5 kilos
$1.00 per
kilo
$6.50
Direct
labor
0.3 hours
$10.00
per hour
$3.00
Variable
overhead
0.3 hours
$4.00 per
hour
$1.20
In January the company’s budgeted production was 7,400 units but the actual production
was 7,500 units. The company used 45,580 kilos of the direct material and 2,030 direct
labor-hours to produce this output. During the month, the company purchased 48,500 kilos
of the direct material at a cost of $53,350. The actual direct labor cost was $18,473 and
the actual variable overhead cost was $7,714.
The company applies variable overhead on the basis of direct labor-hours. The direct
materials purchases variance is computed when the materials are purchased.
The variable overhead rate variance for January is:
8-909
8-910
321.
Oddo Corporation makes a product with the following standard costs:
8-911
8-912
322.
Oddo Corporation makes a product with the following standard costs:
Standard
Quantity
or Hours
Standard
Price or
Rate
Standard
Cost Per
Unit
Direct
materials
3.0
ounces
$7.00 per
ounce
$21.00
Direct
labor
0.7 hours
$20.00
per hour
$14.00
Variable
overhead
0.7 hours
$5.00 per
hour
$3.50
The company reported the following results concerning this product in December.
Originally budgeted
output
4,400
units
Actual output
4,200
units
Raw materials used in
production
12,820
ounces
Actual direct labor-
hours
3,160
hours
Purchases of raw
materials
14,500
ounces
Actual price of raw
materials
$6.80
per
ounce
Actual direct labor
rate
$18.30
per hour
Actual variable
overhead rate
$5.10
per hour
The company applies variable overhead on the basis of direct labor-hours. The direct
materials purchases variance is computed when the materials are purchased.
The materials price variance for December is:
8-914
323.
Oddo Corporation makes a product with the following standard costs:
Standard
Quantity
or Hours
Standard
Price or
Rate
Standard
Cost Per
Unit
Direct
materials
3.0
ounces
$7.00 per
ounce
$21.00
Direct
labor
0.7 hours
$20.00
per hour
$14.00
Variable
overhead
0.7 hours
$5.00 per
hour
$3.50
The company reported the following results concerning this product in December.
Originally budgeted
output
4,400
units
Actual output
4,200
units
Raw materials used in
production
12,820
ounces
Actual direct labor-
hours
3,160
hours
Purchases of raw
materials
14,500
ounces
Actual price of raw
materials
$6.80
per
ounce
Actual direct labor
rate
$18.30
per hour
Actual variable
overhead rate
$5.10
per hour
The company applies variable overhead on the basis of direct labor-hours. The direct
materials purchases variance is computed when the materials are purchased.
The labor efficiency variance for December is:
8-915
8-916
324.
Oddo Corporation makes a product with the following standard costs:
Standard
Quantity
or Hours
Standard
Price or
Rate
Standard
Cost Per
Unit
Direct
materials
3.0
ounces
$7.00 per
ounce
$21.00
Direct
labor
0.7 hours
$20.00
per hour
$14.00
Variable
overhead
0.7 hours
$5.00 per
hour
$3.50
The company reported the following results concerning this product in December.
Originally budgeted
output
4,400
units
Actual output
4,200
units
Raw materials used in
production
12,820
ounces
Actual direct labor-
hours
3,160
hours
Purchases of raw
materials
14,500
ounces
Actual price of raw
materials
$6.80
per
ounce
Actual direct labor
rate
$18.30
per hour
Actual variable
overhead rate
$5.10
per hour
The company applies variable overhead on the basis of direct labor-hours. The direct
materials purchases variance is computed when the materials are purchased.
The labor rate variance for December is:
8-917
8-918
325.
Oddo Corporation makes a product with the following standard costs:
Standard
Quantity
or Hours
Standard
Price or
Rate
Standard
Cost Per
Unit
Direct
materials
3.0
ounces
$7.00 per
ounce
$21.00
Direct
labor
0.7 hours
$20.00
per hour
$14.00
Variable
overhead
0.7 hours
$5.00 per
hour
$3.50
The company reported the following results concerning this product in December.
Originally budgeted
output
4,400
units
Actual output
4,200
units
Raw materials used in
production
12,820
ounces
Actual direct labor-
hours
3,160
hours
Purchases of raw
materials
14,500
ounces
Actual price of raw
materials
$6.80
per
ounce
Actual direct labor
rate
$18.30
per hour
Actual variable
overhead rate
$5.10
per hour
The company applies variable overhead on the basis of direct labor-hours. The direct
materials purchases variance is computed when the materials are purchased.
The variable overhead efficiency variance for December is:
8-919
8-920
326.
Oddo Corporation makes a product with the following standard costs:
Standard
Quantity
or Hours
Standard
Price or
Rate
Standard
Cost Per
Unit
Direct
materials
3.0
ounces
$7.00 per
ounce
$21.00
Direct
labor
0.7 hours
$20.00
per hour
$14.00
Variable
overhead
0.7 hours
$5.00 per
hour
$3.50
The company reported the following results concerning this product in December.
Originally budgeted
output
4,400
units
Actual output
4,200
units
Raw materials used in
production
12,820
ounces
Actual direct labor-
hours
3,160
hours
Purchases of raw
materials
14,500
ounces
Actual price of raw
materials
$6.80
per
ounce
Actual direct labor
rate
$18.30
per hour
Actual variable
overhead rate
$5.10
per hour
The company applies variable overhead on the basis of direct labor-hours. The direct
materials purchases variance is computed when the materials are purchased.
The variable overhead rate variance for December is: