You are student prepar n tora ob interve with a ortune 1?) consumer products man

Question

You are student prepar n tora ob interve with a ortune 1?) consumer products manu acturer You are applying tor a ob n te nance department his company ts known or its ngorous case-based nterview rocess one at the students who success ully obtained a job with them upon graduation last year advised you to "know your variances coldl" When you inquired further, she told you that she had bean askad to pretend that she was investigating wage and materials variances. Per her advice, you have been studying the causes arid consequences of variances. You are excited when you walk in and find that the first case deals with variance analysis. You are given the folkwing data for May for a detergent bottling plant located in Mexico Click the icon ta view the data) Please respond to the following questions as if you were in an interview situation: 1. Calculate the materials efficiency and price variance, and the wage and labor efficiency variances for the month of May 2.You are given the tolkwing context "Unicn organizers are targeting our detergent bottling plant in Puebla, Mexico, tor a union" Can you provide a beter explanation tor the vanancos that you have calculated on the basis ct this infomation Requirement 1. Calculate the materials efficiency and price variance, and the wage ad labor efficiency variances for the month of May Data Table In order to calculate the variances complete the tollowing table (Round your tinal answer to the nearest whole number) Actual input qty Actual Bottks fillod Direct materials used in produchion Actual direct material cost Acial direct manutacturing labor-hours Actual direct labor cost Actual costs 310,000 incurred Budgeted price Flexible budget 1) D1) 07 Direct materials 2,183,250 pesos 4 50 hours 739,900 pesos Standards Purchase pnce of direct matenals Bottle size Wage rate Bols per minule 0 35 pesas/07 Enter any number In the edit fields and then ciick Check Answer 15 0z 29.10 pesos hour Pemsaning Clear All 0.50

Explanation / Answer

Actual costs incurred Actual input qty* Bud Price Flexible budget Direct Mat 2183250 6150000*0.35 2152500 DMPV 30750 U DL Cost 739900 24500*29.40 720300 DLRV 19600 U DMQV= (actual output * standard usage per unit - Actual usage)*Std Price (310000*15 -6150000)*0.35= 525000 U DLEV = (actual output * standard lab hrs per unit - Actual hours usage)*Std Rate (310000*2/60 - 24500) * 29.40 = 416500 U

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