Accounting 2302 problem 23-2a | Accounting homework help

 

Problem 25-3A

Rudd Clothiers is a small company that manufactures tall-men’s suits. The company has used a standard cost accounting system. In May 2017, 10,600 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 15,000 direct labor hours. All materials purchased were used.

Cost ElementStandard (per unit)ActualDirect materials8 yards at $4.10 per yard$332,670 for 85,300 yards ($3.90 per yard)Direct labor1.20 hours at $13.00 per hour$179,816 for 13,520 hours ($13.30 per hour)Overhead1.20 hours at $6.50 per hour (fixed $4.00; variable $2.50)$48,300 fixed overhead $36,500 variable overhead
Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $60,000, and budgeted variable overhead was $37,500.

(a)

Compute the total, price, and quantity variances for (1) materials and (2) labor. (Round answers to 0 decimal places, e.g. 125.)

(1)Total materials variance$ FavorableUnfavorableNeither favorable nor unfavorableMaterials price variance$ Neither favorable nor unfavorableUnfavorableFavorableMaterials quantity variance$ Neither favorable nor unfavorableUnfavorableFavorable(2)Total labor variance$ FavorableNeither favorable nor unfavorableUnfavorableLabor price variance$ FavorableUnfavorableNeither favorable nor unfavorableLabor quantity variance$ UnfavorableNeither favorable nor unfavorableFavorable
(b)

Compute the total overhead variance.

Total overhead variance$ UnfavorableFavorableNeither favorable nor unfavorable 

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.

Read more

Free-revision policy

The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.

Read more

Privacy policy

The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.

Read more

Fair-cooperation guarantee

By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency