Managerial Accounting
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26 A & B, 23, and 35 A, B, C
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Solution Summary
The solution explains
26 - Seuss Company - material and labor variance
23 - Beatrice Inc - using multiple cost drivers to allocate cost to Job CLK430
35 - Wafers Inc - Joint cost allocation and product profitability in relation to purified wafers and chips
Solution Preview
26. a.
Direct Material Price Variance = (Actual Price - Standard Price) X Actual Quantity
Actual Price =105,500/200,000 = $ 0.53
Standard Price =$0.5
Actual Quantity =200,000 pounds
Price Variance = (0.53-0.5) 200,000 = 5,500 U
Direct Material Quantity Variance = (Actual Quantity-Standard Quantity) X Standard Price
Actual Quantity =200,000
Standard Quantity = 97,810 X 2= 195,620 pounds
Standard Price =$0.5
Quantity Variance =(200,000-195,620) 0.5=$2,190U
b.
Labor Rate Variance = (Actual rate - Standard rate) X Actual time
Actual Rate = 905,000/99,200 = $ 9.12
Standard rate= 9.00
Actual Hours= 99,200
Labor Rate variance =(9.12-9) 99,200=$ 12,200U
Labor Efficiency Variance= (Actual Hours - ...
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