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Chapter 11 Demo Problem

Chapter 11 Demo Problem - Name Date Instructor Course rd...

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FileName: aae9dc84c182ada1b9cc12e2042cdcaf4a22848d.xls, Tab: Chapter 11 Demo Problem, Page 1 of 2, 12/28/2011, 19:01:21 Name: Date: Instructor: Course: Standard Manufacturing Cost Elements Quantity X Price = Cost Direct materials 6.0 oz. $0.90 = $5.40 Direct labor 0.5 hrs. $12.00 = $6.00 Manufacturing overhead 0.5 hrs. $4.80 = $2.40 During the month, the following transactions occurred in manufacturing 10,000 bottles of Allure. 1 58,000 ounces of materials were purchased at $1.00 per ounce. 2. All the materials purchased were used to produce the 10,000 bottles of Allure. 3 4,900 direct labor hours were worked at a total labor cost of $56,350 4 Variable manufacturing overhead incurred was $15,000 and fixed overhead incurred was $10,400 The manufacturing overhead rate of $4.80 is based on a normal capacity of 5,200 direct labor hours. The total budget at this capacity is $10,400 fixed and $14,560 variable. Instructions: Compute the total variance and the variances for each of the manufacturing cost elements. Total Variance Actual costs incurred Title Amount Title Amount Title Amount Formula Title Formula Total variance Formula Text
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