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    Assignment 5.1 Acctg020

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    Xyra Arsoler

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    © All Rights Reserved
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    Assignment 5.1 Acctg020

    Uploaded by

    Xyra Arsoler
    159 views5 pages

    Copyright

    © © All Rights Reserved

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    XLSX, PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    159 views5 pages

    Assignment 5.1 Acctg020

    Uploaded by

    Xyra Arsoler

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    Direct Materials

    Opal Company's standard materials costs for producing 1 pint Product Z are:
    9 ounces of Material A-1 at P0.20 per ounce                         P1.80
    9.2 ounces of Material A-2 at P0.30 per ounce                      P2.76

    During December 2014, Opan produces 4,000 pints of Product Z. The actual materials
    costs were as follows:
    36,250 ounces of Materials A-1 at P0.204                                P7.395
    36,400 ounces of Materials A-2 at P0.28                                  P10.192

    Required: Compute for Total Material Variance, Material Quantity Variance, and Material Price Variance .  

    Direct Labor
    In the Assembly department of the Pearl Products Company, two classes of direct labor
    are used in the manufacturing process. Standard labor costs have been established for
    each unit of product as follow:

    Labor Class Standard Hours Standard rate per hour


    Class AA 1 /2 hour 11.20
    Class BB 1 hour 12.00

    During the month of February 2014, a total 2,020 units were produced. The actual
    costs, by class, were as follows:

    Labor Class Standard Hours Costs


    Class AA 1050 hours 11,665
    Class BB 2010 hours 23,919

    Required:Compute for the Total Labor Variance,Labor  Efficiency Variance, and Labor Rate Variance.

    Manufacturing Overhead
    Standard Actual Budgeted
    Direct Labor Hours 4200 4000 4500
    Variable Factory Overhead 1680 1600 1800
    Fixed Factory Overhead 840 900 900

    Required: Compute for the Total Overhead Variance, Controllable Overhead Variance and Volume Overhead Varian
    Direct Materials
    Material A-1
    Quantity Price
    Actual 36,250 0.204
    Standard 36,000 0.2
    Difference 250 0.0040
    U U
    MQV PMV
    50 145
    U U
    aterial Price Variance .   Material A-2
    Quantity Price
    Actual 36,400 0.28
    Standard 36,800 0.3
    Difference (400) (0.020)
    F F
    MQV PMV
    (120) -728
    F F

    Direct Labor
    Class AA
    Hours Rate
    Actual 1,050 11.110
    Standard 1,010 11.20
    Difference 40 (0.0905)
    U F
    LEV LRV
    448.00 -95
    U F
    Class BB
    Hours Rate
    Actual 2,010 11.900
    Standard 2,020 12.00
    Difference (10) (0.1000)
    F F
    r Rate Variance. LEV LRV
    (120.00) -201
    F F

    Manufacturing Overhead
    A= 6,400,000
    SO= 7056000
    BOS= 11,106,000
    BF= 4,050,000

    e and Volume Overhead Variance TOV= (656,000) F


    CV= (4,706,000) F
    VV= 4,050,000 U
    Total
    7,395
    7,200
    195 Unfavorable

    195

    Total
    10,192
    11,040
    (848) Favorable

    (848)

    Total
    11,665
    11,312
    353 Unfavorable

    353

    Total
    23,919
    24,240
    (321) Favorable

    (321)

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