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ACCT 225 - Assignment 7-4

# ACCT 225 - Assignment 7-4 - Problem 8-12A#1 A Actual...

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Problem 8-12A #1 A. Actual Quantity of Input, at Actual Price (AQ  ×  AP) 62,000 pounds  × \$1.75 per pound \$108,500  Price Variance \$3,100 F 1.8 B. Actual Hours of Input, at the Actual Rate (AH  ×  AR) 11,800 hours (\$7.00 per hour – \$6.00 per hour) =\$11,800U

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\$10.10 per hour \$119,180  Rate Variance, \$10,620  C. Actual Hours of Input, at the Actual Rate (AH  ×  AR) \$19,240  Spending Variance, \$3700 U 2 Summary of variances
F 5,250 U 10,620 U 1,840 F 3700 U 310 F Net variance  \$19,570  U The net unfavorable vari \$220,050  7070 \$227,120  This \$16,290 net unfavorable variance also accounts for the difference  Material price  variance  \$  3,100 Material quantity  variance  Labor rate  variance  Labor efficiency  variance  Variable overhead  spending variance  Variable overhead  efficiency  variance  Budgeted cost of  goods sold at  \$14.67per pool  Add the net  unfavorable  variance, as  above  Actual cost of  goods sold

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\$37,950  7070 \$30,880  3
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ACCT 225 - Assignment 7-4 - Problem 8-12A#1 A Actual...

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