Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. dm variances: rabbit hole, inc. has provided th

1. DM variances: Rabbit Hole, Inc. has provided the following data concerning one of the...

90.2K

Verified Solution

Question

Accounting

image
1. DM variances: Rabbit Hole, 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 Direct materials Direct labor Variable manufacturing overhead Standard Quantity or Hours per Unit of Output 2.5 grams 0.8 hours 0.8 hours Standard Price or Rate $ 6.40 per gram $ 12.00 per hour $ 2.90 per hour The company planned to produce 7,400 units of output during June and has reported the following actual results for the product for June: Actual output Raw materials purchased/used Actual price of raw materials Actual direct labor-hours Actual direct labor rate Actual variable overhead rate 7,700 Units 17,940 grams 6.30 per gram 8,000 Hours 11.00 per hour 3.10 per hour Assume all of the materials purchased was used during the month to produce the 7,700 units. Calculate: a. The DM activity variance b. The DM spending variance c. The DM price variance d. The DM quantity variance

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

Find the area of a rectangle with base of 2 yd and a height of...

Medical Sciences
1.2K views

Explain the two mechanisms by which glomerular filtration rate is regulated? (please be brief in explaining!...

Civil Engineering
1.2K views

List at least five (5) operational guidelines that are used to monitor and control an activated...

Basic Math
1.2K views

A manufacturing company measures the weight of boxes before shipping them to the customers. If the...

General Management
1.2K views

Explain the global market selection process

Physics
1.2K views

5 Three concentric spherical shells have radii a b and c a b c and...

Geometry
1.2K views

Find the sum of the first five terms of the geometric sequence 1 6 36...

Statistics
1.2K views

Provide an appropriate response Many firms use on the job training to teach their employees...

Accounting
1.2K views

a) Given: DOL =3; Units sold =3,000; find BEP in units. ...

Accounting
1.2K views

The following summary data for the payroll period ended December 27,2021, are available for Cayman...

Accounting
1.2K views

"CVP analysis is subject to a number of underlying assumptions and limitations" Describe Cost Volume...

Accounting
1.2K views

help please