Chapter 23 - Working Papers - Managerial Accounting-1

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A. Direct Materials Cost Variance Direct Materials Price Variance = = = Direct Materials Quantity Variance = = = Direct Materials Cost Variance = = = B. Direct Labor Cost Variance Direct Labor Rate Variance = = = Direct Labor Time Variance = = = Direct Labor Cost Variance = = = Name: Ashley Vasquez Chapter 23 - Problem 23-3A and 23-3B - Working Papers - Managerial Accounting (Actual Price - Standard Price) * Actual Quantity (3.25 - 3.20) x 118,500 5,925 unfavorable (Actual Quantity - Standard Quantity) * Standard Price (118,500 - 120,000) x 3.20 ( 4,800 ) favorable Direct Materials Price Variance + Direct Materials Quantity Variance 5,925 + -4,800 1,125 unfavorable (Actual Rate per Hour - Standard Rate per Hour) * Actual Hours Direct Labor Rate Variance + Direct Labor Time Variance 7,020 + (7,320) (300) favorable (25.00 - 24.40) x 11,700 \$7,020 unfavorable (Actual Direct Labor Hours - Standard Direct Labor Hours) * Standard Rate per Hour (11,700 - 12,000) x 24.40 \$ (7,320) favorable
C. Factory Overhead Cost Variance Varaiable Factory Overhead controllable variance: Actual Varaible factory overhead cost incurred 91,200 Budget variable factory overhead for 12,000 hours 96,000 Variance - favorable -4,800 Fixed factory overhead volume variances: Normal capacity at 100& 15,000 Standard for amount produced 12,000 Productive capacity overemployed 3,000 hrs Standard fixed factory overhead cost rate \$10 Variance - unfavorable \$30,000 Total factory overhead cost variance - unfavorable 25,200 Name: Ashley Vasquez Chapter 23 - Problem 23-3A and 23-3B - Working Papers - Managerial Accounting