Direct Materials and Dret Labor Variance AnalysisShasta Fixture Company manufactures faucets ina small manufacturing faciity. The faucets ere made from brass. Manutacturing has 70 employees. Fach empioyeepresently provides 32 houn of labor per week. Information about a production wek is an followsStandard wage per hour$12.00Standard iabor time per unit20 min.Standard number of ibs, of brass13 IbsStandard price per . of bras19.75Actual price per of brass$10.00Actual Its. of bras used during the week11,248 baNumber of units produced during the week8,400Actual wage per hour$12.36Actual hours for the week (70 emotoyees x 32 hours)2,240Required:Required:a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places.Direct materials standard cost per unitDirect labor standard cost per unitTotal standard cost per unitb. Determine the direct materials price vanance, direct materials quantity varlance, and total direct materials cost variance. Round your answers to the nearestwhole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a postive number.Direct Materials Price VarianceDirect Materials Quantity VarianceTotal Direct Materiais Cost Variancec. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Round your answers to the nearest whole dollar. Enter afavorable variance as a negative number using a minus sign and an unfavorable variance as a positive numberDirect Laber Rate VarianceDirect Labor Time VarianceTotal Direct Labor Cost VariancePrevious

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Description: Direct Materials and Dret Labor Variance AnalysisShasta Fixture Company manufactures faucets ina small manufacturing faciity. The faucets ere made from brass. Manutacturing has 70 employees. Fach empioyeepresently provides 32 houn of labor per week.

The variance is the difference between standard and actual production output. The variance is said…

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Direct Materials and Drect Labor Variance Analysis Shasta Fixture Corpany manufactures faucets in a small manufacturing faciity. The feucets are made from brass. Manutacturing has 70 employees Fach empioyee presently provides 32 hours of labor per week. Information about a production week is as follows Standard wage per hour $12.00 Standard iabor time per unit 20 min. Standard number of ibs. of brass 13 bs Standard price per . of brass 19.75 Actual price per of brass $10.00 Actual Is of brass used during the week 11,246 bs Number of units produced during the week 8,400 Actual wage per hour 612.36 Actual hours for the wnek (70 emptoyees 32 hours) 2,240 Required Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places.

Direct Materials and Drect Labor Variance Analysis Shasta Fixture Corpany manufactures faucets in a small manufacturing faciity. The feucets are made from brass. Manutacturing has 70 employees Fach empioyee presently provides 32 hours of labor per week. Information about a production week is as follows Standard wage per hour $12.00 Standard iabor time per unit 20 min. Standard number of ibs. of brass 13 bs Standard price per . of brass 19.75 Actual price per of brass $10.00 Actual Is of brass used during the week 11,246 bs Number of units produced during the week 8,400 Actual wage per hour 612.36 Actual hours for the wnek (70 emptoyees 32 hours) 2,240 Required Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 1PB: Direct materials and direct labor variance analysis Lenni Clothing Co. manufactures clothing in a...

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Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 40 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hour $17.40 Standard labor time per unit 15 min. Standard number of Ibs. of brass 1.9 Ibs. Standard price per Ib. of brass $10.75 Actual price per Ib. of brass $11.00 Actual Ibs. of brass used during the week 13,503 Ibs. Number of units produced during the week 6,900 Actual wage per hour $17.92 Actual hours for the week (40 employees × 32 hours) 1,280 Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit Direct labor standard cost per unit Total standard cost per unit b. Determine the direct materials price variance, direct materials quantity…
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Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 60 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hour $13.80 Standard labor time per unit 20 min. Standard number of Ibs. of brass 1.3 lbs. Standard price per Ib. of brass $9.75 Actual price per Ib. of brass $10.00 Actual Ibs. of brass used during the week 8,034 lbs. Number of units produced during the week 6,000 Actual wage per hour $14.21 Actual hours for the week (60 employees x 32 hours) 1,920 Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit 13 X Direct labor standard cost per unit 4.6 V Total standard cost per unit 17.3 X b. Determine the direct materials price variance, direct…
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