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# p11-2a - Name Date Instructor Course Managerial Accounting...

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FileName: 3a76a2053a5b4200a5b7d4e979f2af2c89825d16.xls, Tab: Problem P11-2A, Page 1 of 2, 12/28/2011, 19:02:17 Name: Date: Instructor: Course: In July 2005, it accumulates the following data relative to 1,500 units started and finished. Cost and Production Data Actual Standard Raw materials Units purchased 17,400 Units used 17,400 18,000 Unit cost \$3.40 \$3.00 Direct labor Hours worked 2,900 3,000 Hourly rate \$11.80 \$12.20 Manufacturing overhead Incurred \$87,500 Applied \$93,750 Manufacturing overhead was applied on the basis of direct labor hours. Normal capacity for the month was 2,800 direct labor hours. At normal capacity, budgeted overhead costs were \$20.00 per labor hour variable and \$11.25 per labor hour fixed. Total budgeted fixed overhead costs were \$31,500 Jobs finished during the month were sold for \$240,000 Selling and administrative expenses were \$25,000 Instructions: Total materials variance: ( Title X Title ) - ( Title X Title ) ( Formula X Formula ) - ( Formula X Formula ) Formula - Formula = Formula Text Materials price variance: ( Title X Title ) - ( Title X Title ) ( Formula X Formula ) - ( Formula X Formula ) Formula - Formula = Formula Text Materials quantity variance: ( Title X Title ) - ( Title X Title ) ( Formula X Formula ) - ( Formula X Formula ) Formula - Formula = Formula Title Total labor variance: ( Title X

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