**1.Direct material Variances**

The Ningpo manufacturing company is a joint venture between the U.S and Chinese firms with an assembly plant located in Ningpo, on the eastern coast of China. The company’s managers expected to produce 20,000 units of product in March. The standard cost for the materials used for 20,000units is 173, 600 Yuan, and the standard cost per unit is 2.80 Yuan per pound.Actual production in March was 19,100 units.The company purchased and used 57,300 pounds of materials costing 163,305 Yuan.

A. What was the standard quantity of pounds per units?

B. What was the direct materials efficiency variance for March?

C. What was the direct materials price variance for March?

**2. Fixed and variable overhead variances**Robertson Consulting uses a standard costing system to allocate overhead costs. The accountant estimated 8,500 hours as the volume to develop standard overhead rates.Budgeted costs were $19,125 for fixed overhead and $15,300 for variable overhead. The following results were reported.

Actual hours8,200

Standard hours 8,300

Actual fixed overhead $19,000

Actual variable overhead $14,000

A. Calculate the spending variances for fixed and variable overhead.

B. Calculate the overhead allocation rates for fixed and variable overhead.

C. Calculate the production volume variance for fixed overhead

D. Calculate the efficiency variance for variable overhead.

1.Direct material Variances The Ningpo manufacturing company is a joint venture between the U.S and Chinese firms with an assembly plant located in Ningpo, on the eastern coast of China. The company’s managers expected to produce 20,000 units of product in March. The standard cost for the materials used for 20,000units is 173, 600 Yuan, and the standard cost per unit is 2.80 Yuan per pound. Actual production in March was 19,100 units. The company purchased and used 57,300 pounds of materials costing 163,305 Yuan. What was the standard quantity of pounds per units? What was the direct materials efficiency variance for March? What was the direct materials price variance for March? 2. Fixed and variable overhead variances Robertson Consulting uses a standard costing system to allocate overhead costs. The accountant estimated 8,500 hours as the volume to develop standard overhead rates. Budgeted costs were $19,125 for fixed overhead and $15,300 for variable overhead. The following results were reported. Actual hours 8,200 Standard hours 8,300 Actual fixed overhead $19,000 Actual variable overhead $14,000 Calculate the spending variances for fixed and variable overhead. Calculate the overhead allocation rates for fixed and variable overhead. Calculate the production volume variance for fixed overhead Calculate the efficiency variance for variable overhead.

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