Please neatly organize answers and show work so I may better understand. Thank y

Question

Please neatly organize answers and show work so I may better understand. Thank you!

Smart Sets manufactures headphone cases. During Data Table Click the icon to view the cost data.) Read the requirements Requirement 1. Compute the cost and efficiency variande Begin with the cost variances. Select the required formula Standard Cost Information Quantity is favorable (F) or unfavorable (U) (Abbreviations Cost used: AC actual cost, AQ actual quantity; FOH-fi Direct Materials Direct Labor Variable Manufacturing Overhead $ 0.15 por part 8.00 per hour 0.02 hours9.00 per hour 2 parts Formul 0.02 hours Direct materials cost variance Direct labor cost variance Next compute the efficiency variances. Select the requirec Fixed Manufacturing Overead ($31,360 for static budget volume of 98,000 units and 1.960 hours, or $16 per hour) each variance is favorable (F) or unfavorable (U). (Abbreviations used: actual cost; A actual quant Actual Information Direct materials efficiency variance Direct labor efficiency variance Requirement 2. For manufacturing overhead, compute thDirect Labor Now compute the variable overhead cost and efficiency va unfavorable (U). (Abbreviations used: AC actual cost: A Fxed Manufacturing Overhead Direct Materials (214.000 partsS 0.20 per part) S 42,800 (1,660 hours @ 8.10 per hour)13,446 14,000 Variable Manufacturing Overhead nd identify whether each variance is favorable (F) or 26,000 ble overhead.) Formula Print Done Choose from any list or enter any number in the input Save for Later acBook Pro

Explanation / Answer

Note : For your understanding I have grouped various variances into three category viz, Material, labor and overhead. Smart Sets A Material Cost variance Actual Price 0.2 =Actual Cost/Actual Pounds Consumed Standard Price 0.15 Variance 0.05 Actual quantity 214000 Direct Material Cost Variance 10700 Unfavourable Efficiecny Variance Actual Quantity 214000 Standard Quantity 216000 Variance 2000 Standard Price 0.15 Direct Material Quantity Variance 300 Favourable B Labor Cost variance Actual Rate per hour 8.1 =Actual Labor cost/Actual Labor Hours Standard rate per hour 8 Variance 0.1 Actual hours 1660 Direct Labor cost variance 166 Unfavourable Efficiency Variance Actual Direct labor hours 1660 Standard Direct Labor hours 2160 Variance 500 Standard rate per hour 8 Direct Labor Variance Variance 4000 Favourale C Factory Overhead Variable overhead Efficiency Variance Standard Hours 2160 Actuals Hours 1660 Variance 500 Standard rate 9 Variable Overhead efficiency Variance 4500 Favourable Cost Variance Standard Rate 9 Actual rate 8.43 =Actual Overhead/Actual Hours Variance 0.57 Actual Hours 1660 Variable Overhead Cost Variance 940 Unfavourable Fixed Overhead Volume Variance Actual Output 108000 Standard rate 0.32 Total 34560 Less : Budgted Fixed overhead 31360 Variable Overhead Volume Variance 3200 Favourable Cost Variance Budgted Fixed overhead 31360 Actual Fixed overhead 26000 Variable Overhead cost Variance 5360 Favourable We appreciate rating of our answers Thank You

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.