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Enter a zero in cells you would otherwise leave blank.
a.
Price variance:
Actual price
Standard price
Variance
Actual quantity
Direct materials price variance
Quantity variance:
Actual quantity
Standard quantity
Variance
Standard price
Direct materials price variance
Total direct materials cost variance
b.
Rate variance:
Actual rate per hour
Standard rate per hour
Variance
Actual hours
Direct labor rate variance
Time variance:
Actual direct labor hours
Standard direct labor hours
Variance
Standard rate per hour
Direct labor time variance
Total direct labor cost variance
c. Alternative Computation of Overhead Variances:
Variable factory overhead controllable variance:
Actual variable FO cost incurred
Budgeted variable FO cost for 2,080 hrs.
Variance Actual costs Applied costs
Balance
Fixed factory overhead volume variance:
Hours at normal capacity
Standard hours for amount produced
Productive capacity not used Actual Factory Applied Factory
Standard fixed FO cost rate Overhead Overhead
Variance Variable cost
Fixed cost
Total factory overhead cost variance Total
Controllable Volume
Variance Variance
Total Factory
Overhead Cost
Variance
Direct Materials Cost Variance
Direct Labor Cost Variance
Factory Overhead Cost Variance
Factory Overhead
Budgeted Factory Overhead
Problem 22(7)-3B
Name:
Section:
for Amount Produced
Score:
Key Code:
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[Key code here]
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Instructions
An asterisk (*) will appear to the right of an incorrect entry.
Enter a zero in cells you would otherwise leave blank.
a.
Price variance:
Actual price $6.50
Standard price 6.40
b.
Rate variance:
Actual rate per hour $15.40
Standard rate per hour 15.75
Problem 22(7)-3B
Name:
Solution
Section:
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Score:
Instructions
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ON
Direct Materials Cost Variance
Direct Labor Cost Variance