Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. g direct materials variable manufacturing overhead

G Direct Materials Variable Manufacturing Overhead Direct Labour Fixed Overhead Quantity Required for One Monitor...

60.1K

Verified Solution

Question

Accounting

image
G Direct Materials Variable Manufacturing Overhead Direct Labour Fixed Overhead Quantity Required for One Monitor 3.0 kg 3.0 hours 2.0 hours 1.5 hours Standard Rate/Price $ 12.00 per kg $ 6.00 per hour $ 18.00 per hour $ 9.00 per hour Overhead is allocated based on direct labour hours and the average production volume of 20,000 heart monitors. This currently utilizes 90% of the maximum capacity. e Below is information related to the February 2022 production, in which 21,000 monitors were produced: Direct Materials purchased 5 Direct materials used - Direct Labour 3 Variable Overhead Fixed Overhead Quantity 70,000 68,000 39,000 Cost $ 860,000 $ 835,040 $ 690,000 $ 200,000 $ 125,000 REQUIRED A) Calculate the standard quantity of materials needed to make 21,000 monitors (1 mark) B) Calculate the standard quantity of labour-hours needed to make 21,000 monitors (1 mark) C) Calculate the Direct Materials Price Variance (2 marks) D) Calculate the Direct Materials Quantity Variance (2 marks) - E) Calculate the Direct Labour Efficiency Variance (2 marks) F) Calculate the Variable Overhead Spending Variance (2 marks)

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

Algebra
1.2K views

Find the missing side Round to the nearest tenth 23 25 27 42 15 17...

Basic Math
1.2K views

5. The table below shows actual temperatures and predicted temperatures for San Antonio from August 01...

Statistics
1.2K views

A school psychologist wishes to determine whether a new anti-smoking film actually reduces the daily consumption...

Biology
1.2K views

3. While practicing social distancing, it’s good to still go outside for a walk, bike ride,...

Psychology
1.2K views

Question 2 You are an expert in sustainable innovation and tasked to give a report on the...

Physics
1.2K views

Two pendulums have the same dimensions (length {L}) and total mass (m). Pendulum \texttip{A}{A} is a...

Biology
1.2K views

3 Independent contractor or employee Are Uber and Lyft drivers employees or are they independent...

Basic Math
1.2K views

2 If the function f x is strictly concave then f x 1 1 XB...

Statistics
1.2K views

Find the value of Za 20 21 Click the icon to view a table of...

Accounting
1.2K views

Refer to the Ethics & Equity information reflected on page 14-6 of the textbook. Prepare...

Accounting
1.2K views

Justin Medak, age 45, begins employment with Circle Corporation on January 1, 2020 at a...

Accounting
1.2K views

The Board of Directors of Jin Corporation declared an annual dividend of P 5 per...