Lindsey Company manufactures coats with fur-lined hoods. The following information pertains to the standard costs of manufacturing the hood of one coat:
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compute the following variances for lindsey company 618837
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1 yard at $30 per yard |
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Direct Labor |
2 hours at $10 per hour |
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Variable Overhead |
1/2 hour at $2 per hour |
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Fixed Overhead |
1/2 hour at $3 per hour |
Other data:
1. Coats produced during June—10,000.
2. 11,000 yards were purchased and used at $29 per yard.
3. Actual direct labor costs were $209,000 for 19,000 hours worked.
4. Normal capacity was 5,500 direct labor hours.
5. Actual variable overhead costs were $9,500.
6. Actual fixed overhead costs were $16,100.
Instructions
Compute the following variances for Lindsey Company:
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