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3 years ago

Tharaldson Corporation makes a product with the following standard costs:

Business

1 answer:

anastassius [24]3 years ago

6 0

Answer:

Tharaldson Corporation

The materials quantity variance for June is:__________

= $1,480

Explanation:

a) Data and Calculations:

Standard Quantity Standard Price Standard Cost

or Hours or Rate Per Unit

Direct materials 7.4 ounces $2.00 per ounce $14.80

Direct labor 0.3 hours $18.00 per hour $5.40

Variable overhead 0.3 hours $7.00 per hour $2.10

Reported Results in June:

Originally budgeted output 2,800 units

Actual output 2,900 units

Raw materials used in production 20,600 ounces

Purchases of raw materials 21,700 ounces

Actual direct labor-hours 490 hours

Actual cost of raw materials purchases $42,200

Actual direct labor cost $12,800

Actual variable overhead cost $3,400

Materials quantity variance = (Actual quantity - Budgeted quantity) * standard rate

= (2,900 - 2,800) * $14.80

= $1,480

= (2,900 - 2,800) * 7.4 * $2

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