Respuesta :
Answer:
1. $3, 200 favorable
2. $940 unfavorable
3. not able to answer
4. $1, 980 favorable
5. not able to answer
Explanation:
Standard costing is the practice of substituting an expected (or budgeted) cost for an actual cost in the accounting records of an organization. As a result, variances are recorded to show the difference between the expected and the actual costs.
How is standard cost calculated?
to find the standard cost, you need to determine the cost of direct materials, direct labor, and overhead per unit. Theses costs are added up. To determine the standard cost of direct materials, for example, multiply the materials at standard price by the direct materials standard quantity needed for each unit.
The same principle is applied for direct labor, and overhead costs.
Answers:
1. The total underapplied or overapplied factory overhead in April for Neptune, Inc. was:
=$2.70 x 18, 000
=$48, 600
=$48, 600 - $45, 400
= $3, 200 Favorable
2. The total factory overhead spending variance in April for Neptune, Inc was:
= $10, 800 / 15, 000
= 0.72 (deduct from standard labor rate)
[2.7 – 0.72 = 1.98]
= 1.98 x 17, 000 (actual hours)
= $33, 660
= $10, 800 + $33, 660
= $44, 460 (actual)
$44, 460 - $45, 400 = $940 Unfavorable
3. The factory overhead production volume variance in April for Neptune Inc, was:
There is not sufficient information to answer this question.
The production volume variance measures the amount of overhead applied to the number of units produced. This is the difference between the actual number of units produced and the budgeted number of units that should have been produced.
4. The variable factory overhead efficiency variance for Neptune, Inc. in April was:
= $1.98 x (17, 000 – 18, 000) direct labor hours
= $1, 980 Favorable
5. The total factory overhead flexible-budget variance in April for Neptune, Inc. was:
There is not enough available information to answer this question.
The technique of substituting a projected (or budgeted) expense for a true cost inside a company budgetary record is known as standard costing. As a result, variances are kept track of the costs that differ from what was projected.
The correct answers are:
1. $3, 200 favorable
2. $940 unfavorable
3. Incomplete
4. $1, 980 favorable
5. Incomplete
Calculate the value of direct materials, production overhead, and administration per unit to calculate the standard cost. These expenses are totaled. Multiply the resources at a usual price by the direct materials standard quantity needed for each unit to get the standard cost of direct resources.
Job costing and operating expenses are calculated in the same way.
1. The total underapplied or overapplied factory overhead in April for Neptune, Inc. was:
=[tex]\$2.70 \times 18, 000[/tex]
=$48, 600
=$48, 600 - $45, 400
= $3, 200 Favorable
2. The total factory overhead spending variance in April for Neptune, Inc was:
= [tex]\frac{\$10, 800}{15, 000 }[/tex]
= 0.72 (deduct from standard labor rate)
[2.7 – 0.72 = 1.98]
= [tex]1.98 \times 17, 000[/tex] (actual hours)
= $33, 660
= $10, 800 + $33, 660
= $44, 460 (actual)
$44, 460 - $45, 400 = $940 Unfavorable
3. The factory overhead production volume variance in April for Neptune Inc, was:
The overhead imposed on the number of units produced is measured by the production volume variance. This is the discrepancy between the actual number of units produced and the number of units that were supposed to be produced according to the budget.
4. The variable factory overhead efficiency variance for Neptune, Inc. in April was:
= [tex]\$1.98 \times (17, 000 -18, 000)[/tex]direct labor hours
= $1, 980 Favorable
To know more about the various calculation of the standard cost, refer to the link below:
https://brainly.com/question/13341171
