Hurren Corporation makes a product with the following standardcosts:
StandardQuantity or Hours Standard Priceor Rate Standard CostPer Unit Directmaterials 9.10 grams $7.00 pergram $63.70 Direct labor 0.4 hours $15.00 perhour $6.00 Variableoverhead 0.4 hours $7.00 perhour $2.80
The company reported thefollowing results concerning this product in June.
Originally budgetedoutput 7,100 units Actual output 7,200 units Raw materials usedin production 40,700 grams Purchases of rawmaterials 47,100 grams Actual directlabor-hours 640 hours Actual cost of rawmaterials purchases $262,440 Actual direct laborcost $8,178 Actual variableoverhead cost $3,144
The company applies variable overhead on the basis of directlabor-hours. The direct materials purchases variance is computedwhen the materials are purchased.
The labor rate variance for Juneis:
$1,437 F
$1,422 F
$1,437 U
$1,422 U
Hurren Corporation makes aproduct with the following standard costs:
StandardQuantity or Hours Standard Priceor Rate Standard CostPer Unit Directmaterials 4.9 grams $4.00 pergram $19.60 Direct labor 0.7 hours $14.00 perhour $9.80 Variableoverhead 0.7 hours $9.00 perhour $6.30
The company reported thefollowing results concerning this product in June.
Originally budgetedoutput 6,300 units Actual output 6,200 units Raw materials usedin production 28,430 grams Actual directlabor-hours 4,000 hours Purchases of rawmaterials 32,300 grams Actual price of rawmaterials purchased $4.10 per gram Actual direct laborrate $14.90 per hour Actual variableoverhead rate $8.70 per hour
The company applies variable overhead on the basis of directlabor-hours. The direct materials purchases variance is computedwhen the materials are purchased.
The variable overhead efficiencyvariance for June is:
$2,958 F
$3,060 U
$2,958 U
$3,060 F
Hurren Corporation makes aproduct with the following standard costs:
StandardQuantity or Hours Standard Priceor Rate Standard CostPer Unit Directmaterials 4.8 grams $7.00per gram $33.60 Direct labor 0.8 hours $13.00per hour $10.40 Variableoverhead 0.8 hours $8.00per hour $6.40
The company reported thefollowing results concerning this product in June.
Originally budgetedoutput 6,200 units Actual output 6,100 units Raw materials usedin production 28,420 grams Actual directlabor-hours 4,800 hours Purchases of rawmaterials 32,200 grams Actual price of rawmaterials purchased $7.10 per gram Actual direct laborrate $13.90 per hour Actual variableoverhead rate $7.70 per hour
The company applies variable overhead on the basis of directlabor-hours. The direct materials purchases variance is computedwhen the materials are purchased.
The variable overhead ratevariance for June is:
$1,464 U
$1,464 F
$1,440 F
$1,440 U
Hurren Corporation makes a product with the following standardcosts: |
| StandardQuantity or Hours | Standard Priceor Rate | Standard CostPer Unit | |
| Directmaterials | 9.10 grams | $7.00 pergram | $63.70 |
| Direct labor | 0.4 hours | $15.00 perhour | $6.00 |
| Variableoverhead | 0.4 hours | $7.00 perhour | $2.80 |
| The company reported thefollowing results concerning this product in June. |
| Originally budgetedoutput | 7,100 | units |
| Actual output | 7,200 | units |
| Raw materials usedin production | 40,700 | grams |
| Purchases of rawmaterials | 47,100 | grams |
| Actual directlabor-hours | 640 | hours |
| Actual cost of rawmaterials purchases | $262,440 | |
| Actual direct laborcost | $8,178 | |
| Actual variableoverhead cost | $3,144 |
The company applies variable overhead on the basis of directlabor-hours. The direct materials purchases variance is computedwhen the materials are purchased. |
| The labor rate variance for Juneis: |
$1,437 F
$1,422 F
$1,437 U
$1,422 U
| Hurren Corporation makes aproduct with the following standard costs: |
| StandardQuantity or Hours | Standard Priceor Rate | Standard CostPer Unit | |
| Directmaterials | 4.9 grams | $4.00 pergram | $19.60 |
| Direct labor | 0.7 hours | $14.00 perhour | $9.80 |
| Variableoverhead | 0.7 hours | $9.00 perhour | $6.30 |
| The company reported thefollowing results concerning this product in June. |
| Originally budgetedoutput | 6,300 | units |
| Actual output | 6,200 | units |
| Raw materials usedin production | 28,430 | grams |
| Actual directlabor-hours | 4,000 | hours |
| Purchases of rawmaterials | 32,300 | grams |
| Actual price of rawmaterials purchased | $4.10 | per gram |
| Actual direct laborrate | $14.90 | per hour |
| Actual variableoverhead rate | $8.70 | per hour |
The company applies variable overhead on the basis of directlabor-hours. The direct materials purchases variance is computedwhen the materials are purchased. |
| The variable overhead efficiencyvariance for June is: |
$2,958 F
$3,060 U
$2,958 U
$3,060 F
| Hurren Corporation makes aproduct with the following standard costs: |
| StandardQuantity or Hours | Standard Priceor Rate | Standard CostPer Unit | |
| Directmaterials | 4.8 grams | $7.00per gram | $33.60 |
| Direct labor | 0.8 hours | $13.00per hour | $10.40 |
| Variableoverhead | 0.8 hours | $8.00per hour | $6.40 |
| The company reported thefollowing results concerning this product in June. |
| Originally budgetedoutput | 6,200 | units |
| Actual output | 6,100 | units |
| Raw materials usedin production | 28,420 | grams |
| Actual directlabor-hours | 4,800 | hours |
| Purchases of rawmaterials | 32,200 | grams |
| Actual price of rawmaterials purchased | $7.10 | per gram |
| Actual direct laborrate | $13.90 | per hour |
| Actual variableoverhead rate | $7.70 | per hour |
The company applies variable overhead on the basis of directlabor-hours. The direct materials purchases variance is computedwhen the materials are purchased. |
| The variable overhead ratevariance for June is: |
$1,464 U
$1,464 F
$1,440 F
$1,440 U
Related questions
| Tidd Corporation makes a productwith the following standard costs: |
| StandardQuantity or Hours | Standard Priceor Rate | Standard CostPer Unit | |
| Directmaterials | 4.7 grams | $2.00 pergram | $9.40 |
| Direct labor | 0.7 hours | $17.00 perhour | $11.90 |
| Variableoverhead | 0.7 hours | $2.00 perhour | $1.40 |
| The company reported thefollowing results concerning this product in November. |
| Originally budgetedoutput | 8,600 | units |
| Actual output | 8,700 | units |
| Raw materials usedin production | 44,700 | grams |
| Purchases of rawmaterials | 47,190 | grams |
| Actual directlabor-hours | 7,760 | hours |
| Actual cost of rawmaterials purchases | $132,330 | |
| Actual direct laborcost | $125,023 | |
| Actual variableoverhead cost | $12,666 |
The company applies variable overhead on the basis of directlabor-hours. The direct materials purchases variance is computedwhen the materials are purchased. |
| The materials quantity variancefor November is: |
$7,620 U
$10,684 U
$7,620 F
$10,684 F
McCorey Corporation recorded the following events last year: |
| Repurchase by thecompany of its own common stock | $29,000 |
| Sale of long-terminvestment | $48,000 |
| Interest paid tolenders | $9,500 |
| Dividends paid tothe company's shareholders | $58,000 |
| Collection byMcCorey of a loan made to another company | $34,000 |
| Payment of taxes togovernmental bodies | $19,500 |
On the statement of cash flows, some of these events areclassified as operating activities, some are classified asinvesting activities, and some are classified as financingactivities. |
| Based solely on the information above, the net cash provided by(used in) investing activities on the statement of cash flows wouldbe: $(14,500) $82,000 $24,000 $(14,500) 2)
$2,992 U $2,992 F $3,009 U $3,009 F |
| Landram Corporation makes aproduct with the following standard costs: |
| StandardQuantity or Hours | Standard Priceor Rate | |
| Directmaterials | 2.0liters | $7.00 perliters |
| Direct labor | 0.5hours | $13.00 perhour |
| Variableoverhead | 0.5hours | $7.00 perhour |
The company produced 4,500 units in April using 10,110 liters ofdirect material and 2,090 direct labor-hours. During the month, thecompany purchased 10,680 liters of the direct material at $7.25.per liter. The actual direct labor rate was $13.60 per hour and theactual variable overhead rate was $6.90 per hour. |
| The company applies variable overhead on the basis of directlabor-hours. The direct materials purchases variance is computedwhen the materials are purchased. |
| The materials quantity variancefor April is: |
$7,770 U
$7,770 F
$8,048 F
$8,048 U
