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(Solution Download) direct materials, direct labor, and factory overhead cost variance Adamantane Inc. processes a...

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direct materials, direct labor, and factory overhead cost variance


Adamantane Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 15,000 units of product were as   follows:

 

 

Standard Costs

actual Costs

Direct materials Direct labor Factory overhead

5,000 lbs. at $50.00

3,000 hrs. at $25.00 Rates per direct labor hr.,

4,950 lbs. at $50.60

2,945 hrs. at $25.60

 

based on 100% of normal

 

 

capacity of 3,200 direct

 

 

labor hrs.:

 

 

Variable cost, $5.50

$16,680 variable cost

 

Fixed cost, $4.00

$12,800 fixed cost

Each unit requires 0.2 hour of direct    labor.

instructions

Determine (a) the direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (b) the direct labor rate variance, direct labor time vari- ance, and total direct labor cost variance; and (c) the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance.

 







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This question was answered on: Oct 24, 2017

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