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Compute the total materials variance and the price and quantity variances . Total materials variance* Unfavorable* V Materials price variance $...

1.The standard cost of Product B manufactured by Pharrell Company includes 3.7 units of direct materials at $6.2 per unit. During June, 27,100 units of direct materials are purchased at a cost of $6.10 per unit, and 27,100 units of direct materials are used to produce 7,200 units of Product B.


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2.Lewis Company's standard labor cost of producing one unit of Product DD is 3.6 hours at the rate of $13.2 per hour. During August, 43,000 hours of labor are incurred at a cost of $13.30 per hour to produce 11,800 units of Product DD.


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3.Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 115,000 units per year. The total budgeted overhead at normal capacity is $747,500 comprised of $230,000 of variable costs and $517,500 of fixed costs. Byrd applies overhead on the basis of direct labor hours.


During the current year, Byrd produced 81,700 putters, worked 95,000 direct labor hours, and incurred variable overhead costs of $132,763 and fixed overhead costs of $479,050.


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Compute the total materials variance and the price and quantity variances .
Total materials variance*
Unfavorable*
V
Materials price variance
$
Favorable
Materials quantity variance*
$
Unfavorable*
( b )
Compute the total materials variance and the price and quantity variances , assuming the purchase price is $6 .30 and the quantity purchased and used is 27 , 000 units .
$
Total materials variance
Unfavorable*
Materials price variance
$
Unfavorable*
Materials quantity variance*
$
Unfavorable*

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( 2 )
Compute the total labor variance .
Total labor variance*
$
Unfavorable*
( b )
Compute the labor price and quantity variances
Labor price variance
Unfavorable*
V
Labor quantity variance*
$
Unfavorable*
( C )
Compute the labor price and quantity variances , assuming the standard is 3. 9 hours of direct labor at $13.50 per hour .
Labor price variance
Favorable
Labor quantity variance
$
Favorable

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Compute the predetermined variable overhead rate and the predetermined fixed overhead rate . ( Round answers to 2 decimal places , e.8. 2.75. )
Variable
Fixed
Predetermined Overhead Rate*$
2.00
$
4.50
@ Textbook and Media
$ Your answer is incorrect
Compute the applied overhead for Byrd for the year .*
Overhead Applied$
@ Textbook and Media
`Your answer is partially correct .
Compute the total overhead variance*
Total Overhead Variance {
Unfavorable*

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