BUS 202 Lecture 25: April 12th
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Department
BUS - Business Administration
Course
BUS 202
Professor
Nick Ross
Semester
Spring

Description
April 12th StdCosting Wednesday, April 12, 2017 9:20 AM • Problems standard costing: • Company 168 ○ SQ: 3.8 pounds § Sq: 3.8*500=1,900 SP: $13/pound ○ ○ Last months data: § Actual purchased: 2700 pounds □ Actual price: 34155/2700=12.65 § Actual cost of purchased: $34155 § Actual materials used: 2000 pounds § Actual output: 500 ------ AQxAP Price variance AQxSP Efficiency SQxSP variance Price AQ 2700*$12.65= 35100-34155 2700*$13= ○ Bought $34155.00 =945 f $35100.00 Aq used 2000*13= 26000-24700= 1900*$13= 26000 1300 u $24700.00 • Thompson Company: ○ Standard costs: § Raw Materials: 1.1 yards @ $15 § Direct labor: .8 hrs @ $9.50/hr § Variable overhead: $8 per dlh ○ Units purchased: § 15k @ $13 = $195,000 § Raw materials used: 12,000 § DL Costs: 10,200 @ $10/hour = 102,000 § Actual Variable overhead costs: $84,150 § Units produced: 12,600 DM: ○ § SQ 1.1*12,600=13,860.0 DM AQxAP Price variance AQxSP Efficiency SQxSP /Quantity variance Price AQ 15,000*13= 225-195= 15000* 15= ○ Bought 195,000 30 ,000 f 225000 April 12th StdCosting Wednesday, April 12, 2017 9:20 AM • Problems standard costing: • Company 168 ○ SQ: 3.8 pounds § Sq: 3.8*500=1,900 SP: $13/pound ○ ○ Last months data: § Actual purchased: 2700 pounds □ Actual price: 34155/2700=12.65 § Actual cost of purchased: $34155 § Actual materials used: 2000 pounds § Actual output: 500 ------ AQxAP Price variance AQxSP Efficiency SQxSP variance Price AQ 2700*$12.65= 35100-34155 2700*$13= ○ Bought $34155.00 =945 f $35100.00 Aq used 2000*13= 26000-24700= 1900*$13= 26000 1300 u $24700.00 • Thompson Company: ○ Standard costs: § Raw Materials: 1.1 yards @ $15 § Direct labor: .8 hrs @ $9.50/hr § Variable overhead: $8 per dlh ○ Units purchased: § 15k @ $13 = $195,000 § Raw materials used: 12,000 § DL Costs: 10,200 @ $10/hour = 102,000 § Actual Variable overhead costs: $84,150 § Units produced: 12,600 DM: ○ § SQ 1.1*12,600=13,860.0 DM AQxAP Price variance AQxSP Efficiency SQxSP /Quantity variance Price AQ 15,000*13= 225-195= 15000* 15= ○ Bought 195,000 30 ,000 f 225000 § SQ 1.1*12,600=13,860.0 DM AQxAP Price variance AQxSP Efficiency SQxSP /Quantity variance Price AQ 15,000*13= 225-195= 15000* 15= ○ Bought 195,000 30 ,000 f 225000 Aq used 12000*15= 2079-1800=27,900 13860*15= 180000 f 207900 ○ DL § .8*12,600=10,080 DL AQxAP Price AQxSP Efficiency SQxSP variance /Quantity variance ○ Price AQ 10,200*10= 1020-969= 10,200*9.50= 96900-95760= 10,0
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