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p11-2b - Name Date Instructor Course Managerial Accounting...

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FileName: f6c94dab4faaf1d3ffce91ea9a94a56c684d83c9.xls, Tab: Problem P11-2B, Page 1 of 2, 12/28/2011, 19:02:21 Name: Date: Instructor: Course: Cost and Production Data Actual Standard Raw materials unit cost $2.25 $2.00 Raw materials units used 10,400 10,000 Direct labor payroll $124,100 $120,000 Direct labor hours worked 14,600 15,000 Manufacturing overhead incurred $182,500 Manufacturing overhead applied $189,000 Machine hours expected to be used at normal capacity 42,500 Budgeted fixed overhead for June $51,000 Variable overhead rate per hour $3.00 Fixed overhead rate per hour $1.20 Overhead is applied on the basis of standard machine hours. 3 hours of machine time are required for each direct labor hour. The jobs were sold for $400,000 Selling and administrative expenses were $40,000 Assume that the amount of raw materials purchased equaled the amount used. Instructions: 1 Total materials variance: ( TITLE X TITLE ) - ( TITLE X TITLE ) ( Amount X Amount ) - ( Amount X Amount ) Formula - Formula = Formula Text Materials price variance: ( TITLE X TITLE ) - ( TITLE X TITLE ) ( Amount X Amount ) - ( Amount X Amount ) Formula - Formula = Formula Formula Materials quantity variance: ( TITLE X TITLE ) - ( TITLE X TITLE ) ( Amount X Amount ) - ( Amount X Amount ) Formula - Formula = Formula Text 2 Total labor variance: ( TITLE X TITLE ) - ( TITLE X
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