Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Basic Finance Expert

The Litton Company has established Standards as follows:

Direct Material: 3 pounds per unit @ $4 per pound = $12 per unit
Direct Labor: 2 hours per unit at $8 per hour = $16 per unit
Variable Manufacturing Overhead: 2 hours per unit @$5 per hour = $10 per unit

Units Produced = 600 units
Direct Material Used = 2000 pounds
Direct Material Purchased (3,000 pounds) = $11,400
Direct Labor Cost (1,100 hours) = $9240
Variable manufacturing overhead cost incurred = $5720

The company applies variable manufacturing overhead to products on the basis of standard direct labor hours

From the foregoing information, compute the following variances. Show weather the variance is favorable or unfavorable.

Materials Price Variance = ? Materials quantity variance = ?

Direct Labor Variance = ? Direct Labor effeciency Variance = ?

Variable overhead rate variance = ? Variable overhead effeciency variance = ?

 

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M926438

Have any Question? 


Related Questions in Basic Finance

To which market index would you refer to see how well the

To which market index would you refer to see how well the stock market is performing? Why? Why do you think the movements of the Dow and the S&P 500 are highly correlated?

K bell jewelers wishes to explore the effect on its cost of

K. Bell Jewelers wishes to explore the effect on its cost of capital of the rate at whchi the the company pay taxes. The firm wishes to maintain the capital structs of 35% debt, 15% preferred stock, and 50% common stock. ...

What are the five components of a discounted cash flow in

What are the five components of a discounted cash flow in detail?

1you have decided to go long 15 coffee contacts trades in

1. You have decided to go long 15 coffee contacts trades in $ per pound; minimum movement = $.0005/pound; Contract size = 37,500 pounds). The initial margin for the contact is $5,313 and the maintenance margin is $4,250. ...

Three months ago you purchased a put option on nole stock

Three months ago, you purchased a put option on Nole stock with a strike price of $60 and an option price of $1.02. The option expires today when the value of Nole stock is $62.79 Ignoring trading costs and taxes, what i ...

Why is it important to understand whether the data is

Why is it important to understand whether the data is discrete or continuous? Why is it "important to understand which type of data you are dealing with in each situation"? Is continuous data considered "categorical" dat ...

Question 1nbsp a cost of living rider that you purchase as

QUESTION 1   A cost of living rider that you purchase as part of your insurance life insurance policy gives you the option to buy additional insurance coverage to compensate for inflation. True False QUESTION 2  Riders t ...

You are running a hot internet company analysts predict

You are running a hot Internet company. Analysts predict that its earnings will grow at 20 % per year for the next five years. After that, as competition increases, earnings growth is expected to slow to 6% per year and ...

Explain the difference between aggregate demand and the

Explain the difference between aggregate demand and the aggregate quantity demanded of real output. Ceteris paribus, how is quantity demanded related to the overall price level?

Interpreting the feds monetary policy when the fed

Interpreting the Fed's Monetary Policy: When the Fed increases the money supply to lower the federal funds rate, will the cost of capital to U.S. companies be reduced? Explain how the segmented markets theory regarding t ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate