Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. rudd clothiers is a small company that manufacture

Rudd Clothiers is a small company that manufactures tall-men's suits. The company has used a...

90.2K

Verified Solution

Question

Accounting

image

Rudd Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 2017, 11,250 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 14,000 direct labor hours. All materials purchased were used. Cost Element Direct materials Direct labor Overhead Standard (per unit) Actual 8 yards at $4.40 per yard 1.2 hours at $13.40 per hour 1.2 hours at $6.10 per hour (fixed $3.50; variable $2.60) $375,575 for 90,500 yards ($4.15 per yard) $200,925 for 14,250 hours ($14.10 per hour) $49,000 fixed overhead $37,000 variable overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $49,000, and budgeted variable overhead was $36,400 Compute the total, price, and quantity variances for (1) materials and (2) labor. (Round answers to 0 decimal places, e.g. 125.) Total materials variance Materials price variance Materials quantity variance Total labor variance (1) s (2) Labor price variance Labor quantity variance Compute the total overhead variance Total overhead variance s

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

Finance
1.2K views

you can afford a 1350$ per month mortage payment. youve found a 30 year loan at 7%...

Basic Math
1.2K views

Read the article below and complete the task at hand. LISTERIOSIS OUTBREAK IN SOUTH AFRICA In March...

Statistics
1.2K views

Assume that a simple random sample has been selected from a normally distributed population and test...

Medical Sciences
1.2K views

Case Study: Children and Youth Ms. Case Study-Youth is a 14-year-old high school student who weighs 58...

Basic Math
1.2K views

Over the past several months, an adult patient has been treated for tetany (severe muscle spasms)....

General Management
1.2K views

Have you ever felt that the things you were being held accountable for were not the...

Physics
1.2K views

Find a lighted bare light bulb (in your room or a streetlight, etc). Move around...

Basic Math
1.2K views

1 point The plane that passes through the point 0 3 5 and is perpendicular...

Basic Math
1.2K views

A thermometer is removed from a room where the temperature is 70 F and is...

Calculus
1.2K views

6 The fifth and ninth terms of an arithmetic sequence are 5 and 17 respectively...

Algebra
1.2K views

Consider the line y=(7/5)x-4Find the equation of the line that is perpendicular to this line...

Accounting
1.2K views

The master budget at Western Company last period called for sales of 225,900 units at...