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65.Award: 0 out of 1.00 point0 out of 1.00 pointHurren Corporation makes a product with the following standard costs:InputsStandard Quantityor HoursStandard Price orRateStandard CostPer UnitDirect materials5.5 grams$4.00 per gram$22.00 Direct labor0.7 hours$10.00 per hour$7.00 Variable overhead0.7 hours$9.00 per hour$6.30 The company reported the following results concerning this product in June.Originally budgeted output5,700 unitsActual output5,600 unitsRaw materials used in production28,490 gramsActual direct labor-hours3,500 hoursPurchases of raw materials32,900 gramsActual price of raw materials purchased$4.10 per gramActual direct labor rate$10.90 per hourActual variable overhead rate$8.70 per hourThe company applies variable overhead on the basis of direct labor-hours. The direct materials pricevariance is computed when the materials are purchased.The labor rate variance for June is: (Round your intermediate calculations to 2 decimal places.)$3,150 U$3,528 U$3,528 F$3,150 FUITTTTReferencesMultiple ChoiceLearning Objective: 11-02Compute the direct laboreﬃciency and rate variances andexplain their significance.
66.Award: 0 out of 1.00 point0 out of 1.00 pointTidd Corporation makes a product with the following standard costs:InputsStandard Quantityor HoursStandard Price orRateStandard CostPer UnitDirect materials4.5 grams$4.00 per gram$18.00 Direct labor0.6 hours$14.00 per hour$8.40 Variable overhead0.6 hours$4.00 per hour$2.40 The company reported the following results concerning this product in November.Originally budgeted output9,300 unitsActual output9,400 unitsRaw materials used in production44,770 gramsPurchases of raw materials47,260 gramsActual direct labor-hours7,830 hoursActual cost of raw materials purchases$132,400 Actual direct labor cost$125,093 Actual variable overhead cost$21,866 The company applies variable overhead on the basis of direct labor-hours. The direct materials pricevariance is computed when the materials are purchased.The materials quantity variance for November is:$9,880 U$9,880 F$6,920 F$6,920 USQ = 9,400 units ×4.50 grams per unit = 42,300 gramsMaterials quantity variance = (AQ −SQ) SP= (44,770 grams −42,300 grams) $4.00 per gram= (2,470 grams) $4.00 per gram = $9,880 UReferencesMultiple ChoiceLearning Objective: 11-01 Computethe direct materials quantity andprice variances and explain theirsignificance.UITTTT