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Video Producers manufactures two types of videos: regular and CD. The regular tapes require 5 units ...

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Video Producers manufactures two types of videos: regular and CD. The regular tapes require 5 units ...

Video Producers manufactures two types of videos: regular and CD. The regular tapes require 5 units of direct material X at a standard price of $2 per unit. The CDs require 2 units of direct material Y at a standard price of $3.

During January the company purchased 9,000 units of X for $2.10 each and 3,600 units of Y at $3.20 each. January production used 8,800 units of X and 3,400 units of Y. Outputs of finished tapes was 1,750 of each type.

Required:
Compute the price and efficiency variances for each material.

For the rate variances use two different responsibility assumptions. First assume that rate variances are isolated at the time of purchase; second assume that the rate variances are isolated as materials are placed into production.

The efficiency variances for each material are determined during production.

Textbook

Cost Accounting: A Managerial Emphasis, Canadian Edition

Edition: 7^th

Authors: Horngren, Datar, Rajan, Beaubien

Read 54 times

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