meducation.com/ext/map/index.html?_con=con&external browser=0&launch Url=https% 253A%252F%252Fne S... Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.00 per pound) Direct labor (7 hours @ $14 per hour) Variable overhead (7 hours @ $7 per hour) Fixed overhead (7 hours @ $9 per hour) Standard cost per unit Production (in units) Standard direct labor hours (7 DLH per unit) Budgeted overhead (flexible budget). Fixed overhead Variable overhead Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level o the company's capacity of 51,000 units per quarter. The following additional information is available. $ 150.00 98.00 49.00 63.00 $360.00 70% 35,700 249,900 $ 2,570,400 $ 1,749,300 Direct materials (1,377,000 pounds @ $5.00 per pound) Direct labor (321,300 hours @ $14 per hour) Overhead (321,300 hours @ $16 per hour) Standard (budgeted) cost Saved Actual costs incurred during the current quarter follow. Direct materials (1,358,000 pounds @ $7.80 per pound) Direct labor (317,300 hours @ $11.00 per hour) Fixed overhead Variable overhead Actual cost Operating Levels 80% 40,800 285,600 < Prev $ 2,570,400 $ 1,999, 200 During the current quarter, the company operated at 90% of capacity and produced 45,900 units; actual direct lab- totaled 317,300 hours. Units produced were assigned the following standard costs. $6,885,000 4,498, 200 5,140,800 $ 16,524,000 $ 10,592,400 3,490,300 2,448,500 2,292,300 $ 18,823,500 6 of 6 # 90% 45,900 321,300 MacBook Air $ 2,570,400 $ 2,249,100 Next >
meducation.com/ext/map/index.html?_con=con&external browser=0&launch Url=https% 253A%252F%252Fne S... Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.00 per pound) Direct labor (7 hours @ $14 per hour) Variable overhead (7 hours @ $7 per hour) Fixed overhead (7 hours @ $9 per hour) Standard cost per unit Production (in units) Standard direct labor hours (7 DLH per unit) Budgeted overhead (flexible budget). Fixed overhead Variable overhead Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level o the company's capacity of 51,000 units per quarter. The following additional information is available. $ 150.00 98.00 49.00 63.00 $360.00 70% 35,700 249,900 $ 2,570,400 $ 1,749,300 Direct materials (1,377,000 pounds @ $5.00 per pound) Direct labor (321,300 hours @ $14 per hour) Overhead (321,300 hours @ $16 per hour) Standard (budgeted) cost Saved Actual costs incurred during the current quarter follow. Direct materials (1,358,000 pounds @ $7.80 per pound) Direct labor (317,300 hours @ $11.00 per hour) Fixed overhead Variable overhead Actual cost Operating Levels 80% 40,800 285,600 < Prev $ 2,570,400 $ 1,999, 200 During the current quarter, the company operated at 90% of capacity and produced 45,900 units; actual direct lab- totaled 317,300 hours. Units produced were assigned the following standard costs. $6,885,000 4,498, 200 5,140,800 $ 16,524,000 $ 10,592,400 3,490,300 2,448,500 2,292,300 $ 18,823,500 6 of 6 # 90% 45,900 321,300 MacBook Air $ 2,570,400 $ 2,249,100 Next >
Chapter5: Process Costing
Section: Chapter Questions
Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...
Related questions
Question
Transcribed Image Text:Required:
1. Compute the direct materials variance, including its price and quantit
2. Compute the direct labor variance, including its rate and efficiency va
3. Compute the overhead controllable and volume variances.
Complete this question by entering your answers in the tabs below.
Req 1
Req 2
Req 3
Controllable
Variance
Compute the overhead controllable variance.
Note: Indicate the effect of the variance by selecting favorable, unfavorable, o
Controllable Variance
Actual total overhead
Budgeted total overhead
Controllable variance
Req 3 Volume
Variance
< Req 2
Req 3 Volume
< Prev
Mac
![meducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F %252Fne
S...
Use the following information for the Problems below. (Algo)
[The following information applies to the questions displayed below.]
Trini Company set the following standard costs per unit for its single product
Direct materials (30 pounds @ $5.00 per pound)
Direct labor (7 hours @ $14 per hour)
Variable overhead (7 hours @ $7 per hour)
Fixed overhead (7 hours @ $9 per hour)
Standard cost per unit
Production (in units)
Standard direct labor hours (7 DLH per unit)
Budgeted overhead (flexible budget)
Fixed overhead
Variable overhead
Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level o
the company's capacity of 51,000 units per quarter. The following additional information is available.
$ 150.00
98.00
49.00
63.00
$360.00
70%
35,700
249,900
$ 2,570,400
$1,749,300
Direct materials (1,377,000 pounds @ $5.00 per pound)
Direct labor (321,300 hours @ $14 per hour)
Overhead (321,300 hours @ $16 per hour)
Standard (budgeted) cost
Saved
Actual costs incurred during the current quarter follow.
Direct materials (1,358,000 pounds @ $7.80 per pound)
Direct labor (317,300 hours @ $11.00 per hour)
Fixed overhead
Variable overhead
Actual cost
Operating Levels
80%
40,800
285,600
During the current quarter, the company operated at 90% of capacity and produced
totaled 317,300 hours. Units produced were assigned the following standard costs.
$ 2,570,400
$ 1,999, 200
< Prev
$6,885,000
4,498, 200
5,140,800
$ 16,524,000
$ 10,592,400
3,490,300
2,448,500
2,292,300
$ 18,823,500
6 of 6
$ 2,570,400
$ 2,249,100
45,900 units; actual direct lab-
H
90%
45,900
321,300
MacBook Air
Next >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F468d466a-1ef2-472e-8df7-1896f4b1af0e%2F60092efa-8816-4dcd-b2d7-54852d1facfa%2Fsa3r3gy_processed.jpeg&w=3840&q=75)
Transcribed Image Text:meducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F %252Fne
S...
Use the following information for the Problems below. (Algo)
[The following information applies to the questions displayed below.]
Trini Company set the following standard costs per unit for its single product
Direct materials (30 pounds @ $5.00 per pound)
Direct labor (7 hours @ $14 per hour)
Variable overhead (7 hours @ $7 per hour)
Fixed overhead (7 hours @ $9 per hour)
Standard cost per unit
Production (in units)
Standard direct labor hours (7 DLH per unit)
Budgeted overhead (flexible budget)
Fixed overhead
Variable overhead
Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level o
the company's capacity of 51,000 units per quarter. The following additional information is available.
$ 150.00
98.00
49.00
63.00
$360.00
70%
35,700
249,900
$ 2,570,400
$1,749,300
Direct materials (1,377,000 pounds @ $5.00 per pound)
Direct labor (321,300 hours @ $14 per hour)
Overhead (321,300 hours @ $16 per hour)
Standard (budgeted) cost
Saved
Actual costs incurred during the current quarter follow.
Direct materials (1,358,000 pounds @ $7.80 per pound)
Direct labor (317,300 hours @ $11.00 per hour)
Fixed overhead
Variable overhead
Actual cost
Operating Levels
80%
40,800
285,600
During the current quarter, the company operated at 90% of capacity and produced
totaled 317,300 hours. Units produced were assigned the following standard costs.
$ 2,570,400
$ 1,999, 200
< Prev
$6,885,000
4,498, 200
5,140,800
$ 16,524,000
$ 10,592,400
3,490,300
2,448,500
2,292,300
$ 18,823,500
6 of 6
$ 2,570,400
$ 2,249,100
45,900 units; actual direct lab-
H
90%
45,900
321,300
MacBook Air
Next >
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College