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Hopkins Clothiers 11200

Price: $2.50

Hopkins Clothiers is a small company that manufactures tall-men’s suits. The
company has used a standard cost accounting system. In May 2014, 11,200 suits were
produced. The following standard and actual cost data applied to the month of May when
normal capacity was 14,000 direct labor hours. All materials purchased were used.

Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed
overhead costs were $49,000, and budgeted variable overhead was $36,400.

(a) Compute the total, price, and quantity variances for (1) materials and (2) labor.
(b) Compute the total overhead variance

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