Lindsey Company manufactures coats with fur-lined hoods. The following information pertains to the standard costs of manufacturing the hood of one coat:
| Direct Material Don't use plagiarized sources. Get Your Custom Essay on compute the following variances for lindsey company 618837 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! Just from $10/Page | 1 yard at $30 per yard |
| Direct Labor | 2 hours at $10 per hour |
| Variable Overhead | 1/2 hour at $2 per hour |
| 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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