Problem 22(7)-2B
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1. a.
Direct Materials Variance Filler Liner Total
Price variance:
Actual price
Standard price
Variance
Actual quantity
Direct materials price variance⎯(favorable) unfavorable
Quantity variance:
Actual quantity used (lbs.)
Standard quantity used (lbs.)
Variance (lbs.)
Standard price
Direct materials quantity variance⎯(favorable) unfavorable
Total direct materials cost variance⎯(favorable) unfavorable
Total direct materials cost variance:
Actual cost
Standard cost
Total direct materials cost variance⎯(favorable) unfavorable
Supporting calculations:
Standard quantity used of filler: Womens Men’s Total
Coats produced
Standard amount per coat (lbs.)
Total
Standard quantity used of liner:
Coats produced
Standard amount per coat (yds.)
Total
b. Women’s Men’s
Direct Labor Variance Coats Coats Total
Rate variance:
Actual rate
Standard rate
Variance
Actual time
Direct labor rate variance⎯(favorable) unfavorable
Time variance
Actual tiime
Standard time
Variance
Key Code:
[Key code here]
Instructions
Name:
Section:
Score:
0%
Standard rate
Direct labor time variance⎯(favorable) unfavorable
Total direct labor cost variance⎯(favorable) unfavorable
Total direct labor cost variance:
Actual cost
Standard cost
Total direct labor cost variance⎯(favorable) unfavorable
2.
[Key essay answer here]
Problem 22(7)-2B
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
1. a.
Direct Materials Variance Filler Liner Total
Price variance:
Actual price 1.90$ 8.20$
Standard price 2.00 8.00
Quantity variance:
Actual quantity used 48,000 85,100
Total direct materials cost variance:
Actual cost 91,200$ 697,820$
b. Women’s Men’s
Direct Labor Variance Coats Coats Total
Rate variance:
Actual rate 14.10$ 13.30$
Solution
Instructions
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Name:
Section:
Score:
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ON
