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Chapter 10 Individual Assignment

# Chapter 10 Individual Assignment - Chapter 10 Individual...

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Chapter 10 Individual Assignment ADMN 3107 March 15, 2011 ARSHDEEP SANDHU Arshdeep Sandhu, ADMN 3107, P 10-40, March 15, 2011 1

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Problem 10-40 1. Type I fertilizer: Price Variance: Actual quantity purchased x actual price 5000 kg x .53 = \$2650 Actual quantity purchased x standard price 5000 kg x .50 = 2500 Direct-material price variance = \$150 unfavorable Quantity Variance: Actual quantity used x standard price 3700 kg x .50 = \$1850 Standard quantity allowed x standard price 4400 kg x .50 = 2200 (40kg x 55 x2) Direct-material quantity variance = \$350 favorable Type II fertilizer: Price Variance: Actual quantity purchased x actual price 10,000 kg x .40 = \$4000 Actual quantity purchased x standard price 10,000 kg x .42 = 4200 Direct-material price variance = \$200 favorable Quantity Variance: Actual quantity used x standard price 7800 kg x .42 = \$3276 Standard quantity allowed x standard price 8800 kg x .42 = 3696 (40kg x 55 x4) Direct-material quantity variance = \$420 favorable 2
2. Direct labor variances: Rate variance: Actual hours used x actual rate 165 hours x 11.50 = \$1897.50 Actual hours used x standard rate 165 hours x 9 = 1485

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Chapter 10 Individual Assignment - Chapter 10 Individual...

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