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3 Pages

### HW67_68sol

Course: ACG 2071, Spring 2011
School: UNF
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Word Count: 207

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67 Material Problem variances P A \$14.00 x Q Ap 1,050 = 14,700 S \$15.00 x Ap 1,050 = 15,750 S \$15.00 x Au 1,080 = 16,200 \$1,050 F MPV S \$15.00 x S 1,030 (1/2 lb.*2,060) = 15,450 \$750 U MQV \$300 F TMV 2% Threshhold 2%*\$15,450 = \$309 Investigate MQV - production supervisor Investigate MPV - purchasing manager Labor variances P A \$11.75 x Q A 2,500 = 29,375 S \$12.00 x A 2,500 = 30,000 \$625 F LRV S \$12.00 x S...

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67 Material Problem variances P A \$14.00 x Q Ap 1,050 = 14,700 S \$15.00 x Ap 1,050 = 15,750 S \$15.00 x Au 1,080 = 16,200 \$1,050 F MPV S \$15.00 x S 1,030 (1/2 lb.*2,060) = 15,450 \$750 U MQV \$300 F TMV 2% Threshhold 2%*\$15,450 = \$309 Investigate MQV - production supervisor Investigate MPV - purchasing manager Labor variances P A \$11.75 x Q A 2,500 = 29,375 S \$12.00 x A 2,500 = 30,000 \$625 F LRV S \$12.00 x S 2,472 (1.2*2060) = 29,664 \$336 U LEV \$289 F TLV 2% Threshhold 2%*\$29,664 = \$593 Investigate LRV - production supervisor LEV is not material Problem 68 Direct materials Direct labor VOH FOH 2.4*\$2.90 = 0.6*\$10 = \$18,000/3,000 = \$4,050/3,000 = Standard cost \$6.96 6.00 6.00 1.35 \$20.31 Variable overhead: \$18,000 = \$6.00 3,000 Fixed overhead \$4,050 = \$1.35 3200= Since total budgeted overhead is \$22,050, and variable was determined to be \$18,000, the balance of \$4,050 must be fixed. C D. and Calculate all material variances. If 2% is the threshold for materiality, indicate which variances should be investigated and who is responsible for each. Material variances P A \$2.75 x Q Ap 8,000 = 22,000 S \$2.90 x Ap 8,000 = 23,200 S \$2.90 x Au 8,400 = 24,360 S \$2.90 x S 7,440 (2.4*3100) = 21,576 \$1,200 F MPV \$2,784 U MQV \$1,584 TMV 2% Threshhold 2%*\$21,576 = \$432 Investigate MQV - production supervisor Investigate MPV - purchasing manager U A and B. Calculate all labor variances. If 2% is the threshold for materiality, indicate which variances should be investigated and who is responsible for each. Labor variances P A \$11.00 x Q A 1,600 = 17,600 S \$10.00 x A 1,600 = 16,000 \$1,600 U LRV S \$10.00 x S 1,860 (.6*3,100) = 18,600 \$2,600 F LEV \$1,000 F TLV 2% Threshhold 2%*\$18,600 = \$372 Investigate LRV - production supervisor Investigate LEV - production supervisor
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