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##### Castle Company produces throw blankets that are popular holiday

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Question;Castle Company produces throw blankets that are popular;holiday;Castle Company produces throw blankets that are popular;holiday gifts. Standard variable costs relating to a single blanket are given;below;Standard Quantity or Hours;Standard Price or Rate;Standard Cost;Direct materials;2.62 yards;\$5 per yard;\$?;Direct labor;1.35 DLH;\$6.80 per DLH;\$?;Variable manufacturing overhead;1.35 DLH;\$2 per direct labor-hour;\$?;Total standard cost;\$?;Overhead is applied to production on the basis of direct;labor hours. During March, 924 blankets were manufactured and sold.;Selected information related to the month?s production is;given below;Materials Used;Direct Labor;Variable Manufacturing Overhead;Actual costs incurred;\$11,500;\$8,408;\$3,100;Direct materials price variance;?;Actual;2,620 yards;1400 hours;Direct materials quantity variance;\$1,000 U;Direct labor rate variance;?;Direct labor efficiency variance;?;Variable overhead rate variance;?;Variable overhead efficiency variance;?;*For this month?s production of 924 blankets;Submit an Excel document with each tab labeled by item;number in good form that demonstrates the following through your calculations;1. What is the standard cost of a single blanket?;2. What was the actual cost per blanket produced during;March?;3. What was the direct materials price variance for March?;4. What was the direct labor rate variance for March? The;direct labor efficiency variance?;5. What was the variable overhead rate variance for March?;The variable overhead efficiency variance?

Paper#44002 | Written in 18-Jul-2015

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