C25_WCP solution_SV

C25_WCP solution_SV - SOLUTION Chapter 25 Waterways...

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SOLUTION Chapter 25 Waterways Continuing Problem WCP25 (a) Materials Price Variance Actual Quantity x Actual Price less Actual Quantity x Standard Price 229,000 lbs 229,000 lbs x x $0.74 $0.75 * = = $169,460 less $171,750 = $2,290 F * Standard price per pound : Material Lbs per unit X Price per lb. Metal 1.00 X $0.58 = $0.58 Plastic .75 X 0.96 = 0.72 Rubber .25 X 0.80 = 0.20 Total 2.00 lbs $1.50 = $0.75/lb. (b) Materials Quantity Variance Actual Quantity x Standard Price less Standard Quantity x Standard Price 229,000 lbs 231,000* x x $0.75 $0.75 = = $171,750 less $173,250 = $1,500 F * 115,500 units x 2 lbs = 231,000 (c) Total Materials Variance Actual Quantity x Actual Price less Standard Quantity x Standard Price 229,000 lbs 231,000* x x $0.74 $0.75 = = $169,460 less $173,250 = $3,790 F * 115,500 units x 2 lbs = 231,000 25-1
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(d) Labor Price Variance Actual Hours x Actual Rate less Actual Hours x Standard Rate 28,875 hrs* 28,875 hours x x $7.75 $8.00 = = $223,781 less $231,000 = $7,219 F
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This note was uploaded on 06/08/2011 for the course ACCOUNTING x1a taught by Professor Deez during the Spring '11 term at UCLA.

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C25_WCP solution_SV - SOLUTION Chapter 25 Waterways...

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