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    Accy261 Ch16examprephandout Solutionscan PDF

    Загружено:

    Tsitsi Abigail

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    Chapter 16 - Variance Analysis Exam Prep Handout 169. The following information summarizes the standard cost for producing one metal tennis racket frame. In addition, the variances for one month's production are given. Assume that all Inventory ‘accounts have zero balances at the beginning of the month. Materials $4.00 Direct Labor 2 hrs. @'$2.60° 5.20 Factory Overhead: Variable 1.80 Fixed 5.00 $16.00 Variances: Material price 244.75 unfavorable Material quantity $00.00 unfavorable Labor rate ‘520.00 favorable ‘What wore the actual direct labor hours worked during the month? 5,000. B. 4,800. ©.4,200, .4,000. 3,400, Actual Costs Direct Materials rs Taran Variance Analysis Templat # £4. | Standard Guanty —] Allowed for Actual ‘Actual Inputs at Output, at Standard Standard Prices Price SOxSP Cara ariance _ TT cos, | oad « Case Loss x 26%, x 2077 13, 20D lopuee a AARAR AAAS Saxe] Variable Overhead, Lau: ing variance Cee arian Fatal a Applied Fixed Overhead Ca iget Variance oe ane 169. The following information summarizes the standard cost for producing one metal tennis racket ‘frame. In ackltion, the variances for one month's production are given. Assume that all inventory accounts have zero balances atthe beginning ofthe month. Standard Cost Standard Ber Unit Monthly Costs ‘Materials $4.00 $8,400 Direct Labor 2 hrs. @ $2.60 5.20 10,920 Factory Overhead: Variable 1.80 3,780 Fixed 8.00 la.s0o ‘S160 S300 Variances: Material price 244.75 unfavorable Material quantity 500.00 unfavorable Labor rate $520.00 favorable Laborefficiency 2,080.00 unfavorable What were the actual direct labor hours worked during the month? A 5,000. 8. 4,800. ©, 4200, D, 4,000, &, 3400, '$10,920 + $2,080 = $13,000 + $2.60 = 6,000 direct labor hours AACSB: Analy ACPA FN Decision Making ‘Booms: Anarze icy 8 Hare ‘sang ject: 16.05 Compute and se vale cost varances. Tope Area rect tbo 70. The following information summarizes the standard cost for producing one metal tennis racket ‘frame, In addition, the variances for one month's production are given. Assume that all inventory ‘accounts have zero balances at the beginning of the month. Standard Cost Standard | Materials Direct Labor 2 hrs. @ $2.60 5.20 Factory Overhead: Variable 1.80 Fixed 5.00 $16.00 Variances: Material price 244.75 unfavorable ‘Material quantity — ‘Labor rate 520.00 Laborefficiency 2,080.00 unfavorable Stan 10,920 3,780 10.500 $33,000 What was the actual quantity of materials used during the month? 2,188. B.2,100. ©..2,225. 0.1976. Variance Analysis Template ee Actual Inputs at ‘Standard Prices, ‘Actual Costs, ‘Siandard Guantiy Allowed for Actual (Output, at Standard Fixed Overhead Direct #eudod atrals ot wat, Flex Budget Applied Ce Taran 70. The following information summarizes the standard cost for producing one metal tennis racket frame. In adaltion, the variances for one month's production are given. Assume that all lnventory accounts have zero balances atthe beginning of the month. Standard Cost Standard Per Unit ‘Materials $4.00 $8,400 Direct Labor 2 hrs. @ $2.60 5.20 10,920 Factory Overhead: Variable 1.80 3,780 Fixed 5.00 19.500 $16.00 23.000 Variances: Material price 244.75 unfavorable Material quantity $00.00 unfavorable Labor rate 520,00 favorable Laborefficiency 2,080.00 unfavorable ‘What was the actual quantity of materials used during the month? A 23186. 8, 2,100, ©. 2205. D. 1976. ‘$8,400 + $500 = $8,900 + $4.00= 2,225 AACSB: Arai AICPA FN Decision Making ‘Booms: Ana mc 3 Hare Leamng Ooectie: 16.05 Compute and use arable cost varances. Tope Are: Dict Meters 79, Given the following information in standard costing: ‘Standard 16,000 hours — Actual 15,800 hours What is the total direct labor cost variance? ‘A. $3,160 favorable. B. $3,160 unfavorable. C. $2,360 favorable. 1D. $2,360 unfavorable. Variance Analysis Template Actual Costs AQxAP, Direct Materials Sandard Guaniiy—] Allowed for Actual ‘Actual Inputs at Output, at Standard Standard Prices Price AOS SOxsF AARAR 15,900 F420 hes Direct Labor | Cod ASE € Soo 15,Sop x 4.00 Cesare fancy Variance, Tse 16,000 x Foo thes |p een, Variable Overhead Fixed Overhead ARK SR oC Tame Variance SHS 79. Given the following information in standard costing: ‘Standard 16,000 hours at $4.00 ‘Actual 15,800 hours at $4.20 ‘Whats the total direct labor cost variance? A. $3100 favorabe, YL S160 unfavorable. ©. $2,960 favorable (15,800 « $406) - (15,800 x $420) = $3,160 unfavorable 420 4,00 AACS Anat AICPA FN: Deosion Making, Blooms: Anais banca 2 Meco: Leaming Otecte: 16.06 Comoe and ue vara cost varances. (Lo 16-2) 16-20, Flexible Budg Required Given the data shown in the graph, determine the folowi a. Budgeted fixed cost per period, =. Later capt = EAE thy ran = ene b. Budgeted variable cost perunt. = SAPS = “Fan = Ax ble budget for an activity velo 8,000 units), Value of F (hats 2) Flexible budget cost amount he actual activity had been 16,000 units Ya at bx ca to,o0 + Fee (Bei) pe Ft oo d Fe #qre + 8 o/c C1: Bez) 16-20.(20 min.) Flexible Budget. @ $40.000 b. $8 perunit ve = (TC-FC)+x = ($120,000 - $40,000) + 10,000 units c. s1o4.009 TC =F +Vx ‘= $40,000 + ($8 x 8,000 units) @ 168.000 TC =F 4+VX = $40,000 + ($8 x 16,000 units) we (LO 16-5) 16-28. Variable Cost Varianos ‘The standard direct labor cost per unit fora. Required an the period, actual direct labor costs amounted t fare worked, at ‘Compute the direct labor price and efficiency variances for the period. (Refer to Exhibit 16.9 for the format to use. Exhibit 16.9 Dwect Labor Variances, August (80,000 Frames)—Bayou Division ® wales alibi on sath sie i 5 Songs ee Rs : ere aa esac a. coe mene —— sce sere ane | == Sopeiaes (x90) 157 90) (er = Aa) (9 8) “oescina 6a) Lilet Seo om Variance Analysis Template # b-28 STandard Guantty —] ‘owed fr Actua Actual Inputs at Output at Standerd Actual Costs Standard Prices rice Raa Bon SaxsF Direct Materials [ART Case , L——suxsk aes 5bs5, ze 3202 x 42, v €25f x OShes 2500 x, tey/ Variable Overhead lemon] rac aaget Fonted ——] Fixed Overhead Ce Taras Co lame Variance 16-28. (10 min.) Variable Cost Variances. a Flexible Budget Actual Price wt Efficiency | (Standard at Standard Inputs Allowed Costs Variance — Variance Inputs Allow Output) $28 x 3,200 $28 x0.5 x 5,600 baa ee = $89,600 = $78,400 ‘$1,400 $11,200U 10 (Lo 16-5, 6) 16-61. Comprehensive Variance Problem ‘Sweetwater Company manufactures two products, Mountain Mist and Valley Stream, The company prepares its master budget on the basis of standard costs. The following data are for March Vatey Steam 4 ounces a $16 50 par ounce ‘Shows al $75 er tow 35250 ‘ssa700 700 ‘Det material (purchased and used)... 3. 10D ounces at $13.50 par ounce 4.700 ounces at $1725 per ounce Devet oboe Neos) 4.900 hous at $60.75 por hour” 7400 hous al $78.50 por hour i $242.880 ‘19.980 1.900 uns Required fa. Prepare a variance analysis for each variable cost for each product. b. Prepare a fixed overhead variance analysis for each product like the one in Exhibit 16.13. Exhibit 16.13. Fixed Overhead Variances, August—Bayou Division eH a Variance Pisa ae Template - : j ‘Actual Costs ‘AQXAP. Tandard Quantity Allowed for Actual Output, at Standard Price ‘Actual Inputs at Standard Prices Ax SP. ar Looe, aa 13s 3100, #, eats oe ~ pare ot x IS” x 308 : ' Z % 3, 56D ’ Direct ty, e500 46, soo =e, torals FY 5 om wos | “ex = _¥4s0x Foe | ~Shs, . Sbo Gace, = (embers x TF Foaners 294, 20 en 2: a oT Vo ae 24 id 550 Yoo ,. tag i al “a ae =, x te € 235 26> Tudget Variance Su70 payeedxa 7 _ Variance Problem: Sweetwater Company. Fioxibie Budget Actual impute Actual Pico Eheency (etanaara inputs Core vnance « Stanaard YS Soneator aces ‘Saou cap xno (er x aay er 80) #19.50%3.100 s15x9,100 15.x90unces snes ‘oun wooo unis ween =os00 2S o00 s4050F s100u vans amor epee serxas00 =e a ae aaa

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