Business, 20.05.2020 00:57 IntellTanito

Kropf Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.

Inputs Standard Quantity or Hours Standard Price or Rate
per Unit of Output
Direct materials 9.20 liters $8.80 per liter
Direct labor 0.50 hours $30.70 per hour
Variable manufacturing-
overhead 0.50 hours $7.70 per hour

The company has reported the following actual results for the product for September:

Actual output 11,400 units
Raw materials purchased 105,800 liters
Actual cost of raw materials purchased $949,500
Raw materials used in production 104,900 liters
Actual direct labor-hours 5,240 hours
Actual direct labor cost $170,302
Actual variable overhead cost $36,414

Required:
a. Compute the materials price variance for September.
b. Compute the materials quantity variance for September.
c. Compute the labor rate variance for September.
d. Compute the labor efficiency variance for September.
e. Compute the variable overhead rate variance for September.
f. Compute the variable overhead efficiency variance for September.
(Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i. e., zero variance). Input all amounts as positive values.)

Answers: 3

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Kropf Inc. has provided the following data concerning one of the products in its standard cost syste...