Meera Corporation Makes a Product with the Following Standard Costs

question 127

Essay

Meera Corporation makes a product with the following standard costs: $$\begin{array} { | l | c | c | } \hline \text { Imputs } & \begin{array} { c } \text { Standard Quantiyy } \\\text { or Hours }\end{array} & \begin{array} { c } \text { Standard Price } \\\text { or Pate }\end{array} \\\hline \text { Direct materials } & 8.1 \text { ounces } & \$ 3.00 \text { per ounce } \\\hline \text { Direct labor } & 0.5 \text { hours } & \$ 18.00 \text { per hour } \\\hline \text { Variable overhead } & 0.5 \text { hours } & \$ 2.00 \text { per hour } \\\hline\end{array}$$
In December the company produced 4,200 units using 34,870 ounces of the direct material and 1,900 direct labor-hours.During the month,the company purchased 39,700 ounces of the direct material at a total cost of $111,160.The actual direct labor cost for the month was $35,530 and the actual variable overhead cost was $3,990.The company applies variable overhead on the basis of direct labor-hours.The direct materials purchases variance is computed when the materials are purchased.Required:
a.Compute the materials quantity variance.b.Compute the materials price variance.c.Compute the labor efficiency variance.d.Compute the direct labor rate variance.e.Compute the variable overhead efficiency variance.f.Compute the variable overhead rate variance.

Identify and employ correct sentence structures in written communication.

Implement effective strategies for managing and annotating incoming mail.

Apply proofreading techniques to ensure accuracy in written documents.

Differentiate between various letter styles and formatting conventions.

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Definitions:

External Oblique

The external oblique muscles are a part of the abdominal muscles, involved in rotating the trunk and pulling the chest downwards.

Gastrocnemius

A major calf muscle that is pivotal in walking, running, and jumping, connecting the heel to the lower leg.

Temporalis

A muscle located on the side of the skull, involved in chewing and moving the jaw.

Sternocleidomastoid

A major muscle in the neck that extends from the sternum and clavicle to the mastoid process of the temporal bone of the skull, involved in rotating and flexing the neck.