Excel solutions - 10_56_soln

Excel solutions - 10_56_soln - Case 10-62 Student Name...

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Case 10-62 Student Name: Instructor Class: McGraw-Hill/Irwin 1. Standard cost of lots 22, 23, and 24: EUROPEAN STYLES, INC. Standard Cost of Production For November Standard Total Quantity Cost per Standard Lot (boxes) Box Cost 22 1,000 $106.50 $106,500 23 1,700 106.50 181,050 24 1,200 90.48 108,576 Standard cost of production $396,126 2. Variances: EUROPEAN STYLES, INC. Direct-Material Price Variance For November Actual cost of material purchased $106,400 Standard cost of material purchased 104,500 Direct-material price variance $1,900 Unfavorable EUROPEAN STYLES, INC. Direct-Material and Direct-Labor Price Variance For November Lot no. 22 23 24 Total Direct-material quantity variance: Standard yards: Boxes in lot 1,000 1,700 1,200 3,900 Standard yards per box 24 24 24 24 Total standard quantity 24,000 40,800 28,800 93,600 Actual yards used 24,100 40,440 28,825 93,365 Variance in yards 100 (360) 25 (235) Standard price $1.10 $1.10 $1.10 $1.10 Direct-material quantity variance $110.00
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This note was uploaded on 02/29/2012 for the course E 101 taught by Professor Sfere during the Spring '12 term at Abilene Christian University.

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