Details of this Paper

Anton Company manufactures

Description

solution


Question

Anton Company manufactures wooden magazine stands. An accountant for Anton just completed the variance report for the current month. After printing the report, his computer's hard drive crashed, effectively destroying most of the actual results for the month. All that the accountant remembers is that actual production was 220 stands and that all materials purchased were used in production. The following information is also available;Current Month: Budgeted Amounts;Budgeted production: 200 magazine stands;Direct materials: Wood;Usage 3 square feet per stand;Price $ 0.25 per square foot;Direct labor;Usage 0.5 hours per stand;Price $ 10 per hour;Variable overhead (allocated based on direct labor hours);Rate per labor hour $ 4;Rate per stand $ 2;Fixed overhead (allocated based on direct labor hours);Rate per labor hour $ 6;Rate per stand $ 3;Current Month: Variances;Direct materials price variance $ 33 Unfavorable;Direct materials quantity variance -0-;Direct labor rate variance $ 231 Favorable;Direct labor efficiency variance $ 550 Unfavorable;Overhead volume variance $ 60 Favorable;Overhead spending variance $ 210 Unfavorable;a.;What was the actual purchase price per square foot of wood? (Round your answer to 2 decimal places. Omit the "$" sign in your response.);Actual price $ per square foot;b.;How many labor hours did it actually take to produce each stand? (Round your answer to 2 decimal places.);Actual hours per unit hours per unit;c.;What was the actual wage rate paid per hour? (Round your answer to 2 decimal places. Omit the "$" sign in your response.);Actual rate per hour $ per hour;d.;What was actual total overhead for the month? (Omit the "$" sign in your response.);Actual overhead costs $

 

Paper#79747 | Written in 18-Jul-2015

Price : $27
SiteLock