Business, 13.12.2019 23:31 meandmycousinmagic
Fortes inc. has provided the following data concerning one of the products in its standard cost system. materials price variances is calculated on material purchased and materials quantity is based on material used in production. variable manufacturing overhead is applied to products on the basis of direct labor-hours. inputs standard quantity or hours per unit of output standard price or rate direct materials 8.7 ounces $ 6.80 per ounce direct labor 0.6 hours $ 28.70 per hour variable manufacturing overhead 0.60 hours $ 5.10 per hour the company has reported the following actual results for the product for april: actual output 6300 units raw materials purchased 48,900 ounces actual cost of raw materials purchased $ 316,540 raw materials used in production 54,840 ounces actual direct labor-hours 3530 hours actual direct labor cost $ 105,850 actual variable overhead cost $ 17,090
required:
a. compute the materials price variance for april.
b. compute the materials quantity variance for april.
c. compute the labor rate variance for april.
d. compute the labor efficiency variance for april.
e. compute the variable overhead rate variance for april.
f. compute the variable overhead efficiency variance for april.
Answers: 3
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Fortes inc. has provided the following data concerning one of the products in its standard cost syst...
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