Business, 08.04.2020 23:02 itsyagirlgona21

The standard cost sheet for Chambers Company, which manufactures one product, follows:

Direct materials, 40 yards at $2.00 per yard $ 80

Direct labor, 5 hours at $20 per hour 100

Factory overhead applied at 80% of direct labor 80 (variable costs = $60; fixed costs = $20)

Variable selling and administrative 64

Fixed selling and administrative 40

Total unit costs $ 364

Standards have been computed based on a master budget activity level of 28,800 direct labor-hours per month. Actual activity for the past month was as follows:

Materials used 200,000 yards at $2.10 per yand

Direct labor 28,500 hours at $21.00 per hour

Total factory overhead $550,000

Production 5,600 units

Required:

1. Prepare variance analyses for the variable and fixed costs. Materials are purchased as they are used. (Do not round intermediate calculations).

Answers: 2

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The standard cost sheet for Chambers Company, which manufactures one product, follows:

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