Anton Company manufactures wooden magazine stands. An accountant for Anton just
ID: 2380209 • Letter: A
Question
Anton Company manufactures wooden magazine stands. An accountant for Anton just completed the variance report for the current month. After printing the report, his computer's hard drive crashed, effectively destroying most of the actual results for the month. All that the accountant remembers is that actual production was 220 stands and that all materials purchased were used in production. The following information is also available:
Using the budget for the current month and the variance report, construct the items below.
What was the actual purchase price per square foot of wood? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
How many labor hours did it actually take to produce each stand? (Round your answer to 2 decimal places.)
What was the actual wage rate paid per hour? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
What was actual total overhead for the month?
Current Month: Budgeted Amounts Budgeted production: 200 magazine stands Direct materials: Wood Usage 3 square feet per stand Price $ 0.25 per square foot Direct labor: Usage 0.5 hours per stand Price $ 10 per hour Variable overhead (allocated based on direct labor hours): Rate per labor hour $ 4 Rate per stand $ 2 Fixed overhead (allocated based on direct labor hours): Rate per labor hour $ 6 Rate per stand $ 3 Current Month: Variances Direct materials price variance $ 33 Unfavorable Direct materials quantity variance -0- Direct labor rate variance $ 231 Favorable Direct labor efficiency variance $ 550 Unfavorable Overhead volume variance $ 60 Favorable Overhead spending variance $ 210 UnfavorableExplanation / Answer
a) DM Quantity Variance = ( SQ ? AQ )
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.