Author Question: Littrell Company produces chairs and has determined the following direct cost categories and ... (Read 40 times)

Bob-Dole · **on:** Mar 6, 2021

Littrell Company produces chairs and has determined the following direct cost categories and budgeted amounts:

Standard Inputs

Standard Cost

Category

for 1 output

per input

Direct Materials

1.00

$7.50

Direct Labor

0.30

9.00

Direct Marketing

0.50

3.00

Actual performance for the company is shown below:

Actual output: (in units)

4,000

Direct Materials:

Materials costs

$30,225

Input purchased and used

3,900

Actual price per input

$7.75

Direct Manufacturing Labor:

Labor costs

$11,470

Labor-hours of input

1,240

Actual price per hour

$9.25

Direct Marketing Labor:

Labor costs

$5,880

Labor-hours of input

2,100

Actual price per hour

$2.80

Required:

a.	What is the combined total of the flexible-budget variances?

b.	What is the price variance of the direct materials?

c.	What is the price variance of the direct manufacturing labor and the direct marketing labor,

respectively?

d.	What is the efficiency variance for direct materials?

e.	What are the efficiency variances for direct manufacturing labor and direct marketing labor,

respectively?

BUTTHOL369 · **Reply #1 on:** Mar 6, 2021

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