'Miguez Corporation makes product with the following standard costs: Standard Quantity or Hours 2 .4 liters 0 . 5 hours 0.5 hours Standard Price Rate 7.10 per liter 523.00 per hour 2 .10 per hour Standard Cost Per Unit 817.04 $11.50 1.05 Direct materials Direct labor Variable overhead The company budgeted for production of 2,700 units in September; but actual production was 2,600 units. The company used 5,540 liters of direct material and 1,690 direct labor-hours to produce this output: The company purchased 5,900 liters of the direct materia 57.30 per liter The actua direct labor rate was 525.10 per hour and the actual variable overhead rate was 51.80 per hour: The company applies variable overhead on the basis of direct labor-hours: The direct materials purchases variance is computed when the materials are purchased: The variable overhead rate variance for September is:'
ACCT 2521 Chapter 8 Quiz
1.Gilder Corp. makes a product with the following standard costs:
Standard Quantity
or Hours
Standard Price or
Rate
Standard Cost
Per Unit
Direct materials 3.8 grams $4.00 per gram$15.20
Direct labor 0.8 hours $10.00 per hour$8.00
Variable overhead 0.8 hours $4.00 per hour$3.20
The company reported the following results concerning this product in June
Originally budgeted output7,700 units
Actual output7,600 units
Raw materials used in production28,320 grams
Purchases of raw materials31,200 grams
Actual direct labor-hours 5,500 hours
Actual cost of raw materials purchases$127,920
Actual direct labor cost$59,950
Actual variable overhead cost$20,350
The company applies variable overhead on the basis of direct labor hours. The DM
purchases variance is computed when the materials are purchase. The labor efficiency
variance for June is: $5,800 F
SH = 7,600 units’ x 0.8 hrs/unit = 6,080 hrs
Labor efficiency variance = (AH – SH) SR; (5,500 hrs – 6,080 hrs) $10/hr = (-580 hrs)
$10
2.Gilder Corp. makes a product with the following standard costs:
Standard Quantity
or Hours
Standard Price or
Rate
Standard Cost
Per Unit
Direct materials 9.20 grams$8.00 per gram$73.60
Direct labor 0.1 hours$16.00 per hour$1.60
Variable overhead 0.1 hours$8.00 per hour$0.80
The company reported the following results concerning this product in June
Originally budgeted output7,300 units
Actual output7,400 units
Raw materials used in production40,800 grams
Purchases of raw materials47,300 grams
Actual direct labor-hours650 hours
Actual cost of raw materials purchases$262,590
Actual direct labor cost$8,203
Actual variable overhead cost$3,170
The labor rate variance for June is: $2,197 F
Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateStandard Cost Per Unit Direct materials 6.7ounces$4.00per ounce$26.80 Direct labor 0.8hours$11.00per hour$8.80 Variable overhead 0.8hours$6.00per hour$4.80 The company reported the following results concerning this product in June. Originally
budgeted output 2,100units Actual output 2,600units Raw materials used in production 19,500ounces Purchases of raw materials 21,600ounces Actual direct labor-hours 4,700hours Actual cost of raw materials purchases$40,600 Actual direct labor cost$12,100 Actual variable overhead cost$3,050 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for June is: answer;
(inseparability); The answer is yes it’s correct they have to guarantee that job back when they come back if it is for a job, then you should learn everything you can about the job, like what does it involve, what qualification is required and how you are the right person for that job. dress appropriately for the interview. get plenty of rest the night before. good luck! Wite quickly without over thinking .