View the step-by-step solution to:

Problem 5 - Materials and Labor Manufacturing Variances and Analysis Background :" The following information is for the standard and actual...

Please help me solve this problem. The answer please follow the format below. Appreciate!

7898093

7898095

7898103

attachment_05012019.png

Problem 5 - Materials and Labor Manufacturing Variances and Analysis
Background :"
The following information is for the standard
and actual costs for Happy Corporation
Standard Costs :"
Budgeted units of production - 16000
Standard labor hours per unit - 4 hours
Standard labor rate - $ 26 per hour
Standard material per unit - 8 pounds
Standard material cost - $12 per pound
Actual Costs :"
Actual production - 16 , 500 units*
Actual materials purchased and used
- 130000 pounds
Actual total material cost = $1 , 600 , 000
Actual labor - 65 , 000 hours
Actual total labor costs - $1 , 700 , 000
Part 1 - Calculate all Materials and Labor Variances
Mark all variances as FAVORABLE or UNFAVORABLE .
Part 2 - Analyze all variances and share possible
theories as to why each variance turned out the way
it did . Then , share your analysis and conclusion
for how all materials and labor variances could fit
together .

attachment_05012019.png

Problem 5 - Materials and Labor Manufacturing Variances and Analysis
Background :"
The following information is for the standard
and actual costs for Happy Corporation
Standard Costs :"
Budgeted units of production - 16000
Standard labor hours per unit - 4 hours
Standard labor rate - $ 26 per hour
Standard material per unit - 8 pounds
Standard material cost - $12 per pound
Actual Costs :"
Actual production - 16 , 500 units*
Actual materials purchased and used
- 130000 pounds
Actual total material cost = $1 , 600 , 000
Actual labor - 65 , 000 hours
Actual total labor costs - $1 , 700 , 000
Part 1 - Calculate all Materials and Labor Variances
Mark all variances as FAVORABLE or UNFAVORABLE .
Part 2 - Analyze all variances and share possible
theories as to why each variance turned out the way
it did . Then , share your analysis and conclusion
for how all materials and labor variances could fit
together .

attachment_05012019.png

Problem 5 - Materials and Labor Manufacturing Variances and Analysis
Background :"
The following information is for the standard
and actual costs for Happy Corporation
Standard Costs :"
Budgeted units of production - 16000
Standard labor hours per unit - 4 hours
Standard labor rate - $ 26 per hour
Standard material per unit - 8 pounds
Standard material cost - $12 per pound
Actual Costs :"
Actual production - 16 , 500 units*
Actual materials purchased and used
- 130000 pounds
Actual total material cost = $1 , 600 , 000
Actual labor - 65 , 000 hours
Actual total labor costs - $1 , 700 , 000
Part 1 - Calculate all Materials and Labor Variances
Mark all variances as FAVORABLE or UNFAVORABLE .
Part 2 - Analyze all variances and share possible
theories as to why each variance turned out the way
it did . Then , share your analysis and conclusion
for how all materials and labor variances could fit
together .

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question