Calculate the variances and identify whether the variance is favorable (F) or un
ID: 2432509 • Letter: C
Question
Calculate the variances and identify whether the variance is favorable (F) or unfavorable (U). (b) Total Direct Materials Variance (c) Total Direct Labor Variance (e) Total Variable Overhead Variance (TTotal Fixed Overhead Variance (d) Total Manufacturing Overhead Variance (a) Total Flexible Budget Product Cost Variance Data Table Total Flexible Budget Product Cost Variance Total Direct Total Direct Total Manufacturing Materials Variance Labor Variance Overhead Variance Direct Materials Direct Materials Direct Labor Direct Labor Total Variable Total Fixed Cost Variance Efficiency Variance Cost Variance Efficiency Variance Overhead Variance Overhead Variance $540 F S 165 U S 420 U 435 F Variable Overhead Variable Overhead Efficiency Variance 575 F Fixed Overhead Cost Variance 100 F Cost Variance 225 U 5Explanation / Answer
Answer
b.
Total Direct Material Variance = Material Cost Variance + Material Efficiency Variance
= 540(F) – 165(U)
Total Direct Material Variance = 375 (F)
c.
Total Direct Labor Variance = Labor Cost Variance + Labor Efficiency Variance
= -420(U) + 435 (F)
Total Direct Labor Variance = 15(F)
e.
Total Variable Overhead Variance = Variable Overhead Cost Variance + Variable Overhead Efficiency Variance
= -225(U) + 575(F)
Total Variable Overhead Variance = 350(F)
f.
Total Fixed Overhead Variance = Fixed Overhead Cost Variance
= 100(F)
Total Fixed Overhead Variance = 100(F)
d.
Total Manufacturing Overhead Variance = Total Variable Overhead Variance + Total Fixed Overhead Variance
= 350(F) + 100(F)
Total Manufacturing Overhead Variance = 450 (F)
a.
Total Flexible cost Budget Product Cost Variance = Total Direct Material Variance + Total Direct Labor Variance + Total Variable Overhead Variance + Total Fixed Overhead Variance
= 375(F) + 15(F) + 350(F) + 100(F)
Total Flexible cost Budget Product Cost Variance = 840 (F)
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