zippy-F07-SOL - The standard cost card for the production...

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The standard cost card for the production of 1 unit of Zippy at Hanson’s Manufacturing is as follows: Actual Activity and Related Cost Information for April: Units of Zippy planned to be produced (units) 1,200 Units of Zippy produced (actual output units) 1,000 Material purchased and used ( Note that q purchased = q used here for the first pass ) 1,700 lb Total cost of material purchased $6,630 Actual Labor hours 1,550 hrs. Total labor cost $18,910 Actual VMOH $5,115 Prepare a variance analysis report relating to the cost of direct materials, direct labor and variable manufacturing overhead for the month of April for the senior manager in charge of production. The report will be used to determine if there are any exceptions that need to be investigated and, if so, what questions to ask. Prepare the related journal entries. What will be the impact on Net Income? AA x B Standard Standard Standard Quantity Price Cost Inputs or Hours or Rate per Unit Direct materials 1.5 lbs. 4.00 $ per lb.
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zippy-F07-SOL - The standard cost card for the production...

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