Chapter 7-9 Cost Final Test - Ehall21.doc

Chapter 7-9 Cost Final Test - Ehall21.doc - Chapter...

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Chapter 7—Standard Costing and Variance Analysis Garfield Company Garfield Company applies overhead based on direct labor hours and has the following available for the current month: Standard: Direct labor hours per unit 5 Variable overhead per DLH \$.75 Fixed overhead per DLH (based on 8,900 DLHs) \$1.90 Actual: Units produced 1,800 Direct labor hours 8,900 Variable overhead \$6,400 Fixed overhead \$17,500 1. Refer to Garfield Company. Compute all the appropriate variances using the two-variance approach. Spreadsheet 2. Refer to Garfield Company. Compute all the appropriate variances using the three-variance approach. S spreadsheet 3. Refer to Garfield Company. Compute all the appropriate variances using the four-variance approach. spreadsheet Berkshire Company The following information is available for Berkshire Company for the current year: Standard: Material X: 3.0 pounds per unit @ \$4.20 per pound Material Y: 4.5 pounds per unit @ \$3.30 per pound Class S labor: 3 hours per unit @ \$10.50 per hour Class US labor: 7 hours per unit @ \$8.00 per hour Actual: Material X: 3.6 pounds per unit @ \$4.00 per pound (purchased and used) Material Y: 4.4 pounds per unit @ \$3.25 per pound (purchased and used) Class S labor: 3.8 hours per unit @ \$10.60 per hour Class US labor: 5.7 hours per unit @ \$7.80 per hour Berkshire Company produced a total of 45,750 units. 4. Refer to Berkshire Company. Compute the material price, mix, and yield variances (round to the nearest dollar).

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5. Refer to Berkshire Company. Compute the labor rate, mix, and yield variances (round to the nearest dollar). Chapter 8—The Master Budget Beasley Company Beasley Company prepared a cash budget by quarters for the upcoming year. Missing data amounts are indicated with question marks or lower case letters; these lower case letters will be referred to in the questions that follow.
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