Problem 11-2A (Part Level Submission) Costs and Production Data Actual Standard

Question

Problem 11-2A (Part Level Submission)

Costs and Production Data

Actual

Standard

(a) & (b)

Problem 11-2A (Part Level Submission)

Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2014.

Costs and Production Data

Actual

Standard

Raw materials unit cost $2.50 $2.36 Raw materials units used 11,200 10,640 Direct labor payroll $174,330 $169,218 Direct labor hours worked 14,900 15,300 Manufacturing overhead incurred $236,144 Manufacturing overhead applied $239,904 Machine hours expected to be used at normal capacity 42,000 Budgeted fixed overhead for June $71,400 Variable overhead rate per machine hour $3.20 Fixed overhead rate per machine hour $1.70
Overhead is applied on the basis of standard machine hours. 3.20 hours of machine time are required for each direct labor hour. The jobs were sold for $463,000. Selling and administrative expenses were $40,700. Assume that the amount of raw materials purchased equaled the amount used.

Explanation / Answer

Problem 11-2A (Part Level Submission) Costs and Production Data Actual Standard

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