Question

Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing...

Direct Materials and Direct Labor Variance Analysis

Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 30 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows:

Standard wage per hour $13.2
Standard labor time per unit 15 min.
Standard number of lbs. of brass 2.1 lbs.
Standard price per lb. of brass $11.25
Actual price per lb. of brass $11.5
Actual lbs. of brass used during the week 16,871 lbs.
Number of units produced during the week 7,800
Actual wage per hour $13.6
Actual hours for the week (30 employees × 36 hours) 1,080 hrs.

Required:

a.  Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places.

Direct materials standard cost per unit $
Direct labor standard cost per unit $
Total standard cost per unit $

b.  Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Direct Materials Price Variance $
Direct Materials Quantity Variance $
Total Direct Materials Cost Variance $

c.  Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Direct Labor Rate Variance $
Direct Labor Time Variance $
Total Direct Labor Cost Variance $

Homework Answers

Answer #1
a
Direct materials standard cost per unit 23.63 =2.1*11.25
Direct labor standard cost per unit 3.30 =13.2*(15/60)
Total standard cost per unit 26.93
b
Direct Materials Price Variance 4218 Unfavorable =16871*(11.5-11.25)
Direct Materials Quantity Variance 5524 Unfavorable =11.25*(16871-7800*2.1)
Total Direct Materials Cost Variance 9742 Unfavorable =(16871*11.5)-(7800*2.1*11.25)
c
Direct Labor Rate Variance 432 Unfavorable =1080*(13.6-13.2)
Direct Labor Time Variance -11484 Favorable =13.2*(1080-7800*15/60)
Total Direct Labor Cost Variance -11052 Favorable =(1080*13.6)-(7800*13.2*15/60)
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing...
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 30 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hour $16.2 Standard labor time per unit 15 min. Standard number of lbs. of brass 2.1 lbs. Standard price per lb. of brass $9.25 Actual price per lb. of brass $9.5 Actual...
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing...
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 30 employees. Each employee presently provides 35 hours of labor per week. Information about a production week is as follows: Standard wage per hour $11.4 Standard labor time per unit 20 min. Standard number of lbs. of brass 1.9 lbs. Standard price per lb. of brass $13 Actual price per lb. of brass $13.25 Actual...
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing...
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 70 employees. Each employee presently provides 35 hours of labor per week. Information about a production week is as follows: Standard wage per hour $11.4 Standard labor time per unit 20 min. Standard number of lbs. of brass 1.9 lbs. Standard price per lb. of brass $11.5 Actual price per lb. of brass $11.75 Actual...
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures faucets in a small manufacturing...
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 90 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows: Standard wage per hr. $15.00 Standard labor time per faucet 40 min. Standard number of lbs. of brass 3 lbs. Standard price per lb. of brass $2.40 Actual price per lb. of brass $2.50 Actual...
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures faucets in a small manufacturing...
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 40 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hour $12.00 Standard labor time per faucet 20 min. Standard number of lbs. of brass 1.6 lbs. Standard price per lb. of brass $10.00 Actual price per lb. of brass $10.25 Actual...
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures faucets in a small manufacturing...
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 90 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows: Standard wage per hr. $15.00 Standard labor time per faucet 40 min. Standard number of lbs. of brass 3 lbs. Standard price per lb. of brass $2.40 Actual price per lb. of brass $2.50 Actual...
#11 Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small...
#11 Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 40 employees. Each employee presently provides 40 hours of labor per week. Information about a production week is as follows: Standard wage per hour $12.6 Standard labor time per unit 20 min. Standard number of lbs. of brass 1.7 lbs. Standard price per lb. of brass $11 Actual price per lb. of brass $11.25...
Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing...
Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 30 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hour $17.40 Standard labor time per unit 10 min. Standard number of lbs. of brass 1.6 lbs. Standard price per lb. of brass $11.00 Actual price per lb. of brass $11.25 Actual...
Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing...
Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 30 employees. Each employee presently provides 35 hours of labor per week. Information about a production week is as follows: Standard wage per hour $13.80 Standard labor time per unit 20 min. Standard number of lbs. of brass 1.4 lbs. Standard price per lb. of brass $9.50 Actual price per lb. of brass $9.75 Actual...
Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing...
Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 30 employees. Each employee presently provides 40 hours of labor per week. Information about a production week is as follows: Standard wage per hour $13.20 Standard labor time per unit 15 min. Standard number of lbs. of brass 1.6 lbs. Standard price per lb. of brass $11.50 Actual price per lb. of brass $11.75 Actual...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT