Posted: July 17th, 2016

What is the standard cost of a single blanket?

Variable overhead efficiency variance
*For this month’s production of 924 blankets

ASSIGNMENT
Submit an Excel document with each tab labeled by item number in good form that demonstrates the following through your calculations:

What is the standard cost of a single blanket?
What was the actual cost per blanket produced during March?
How many standard yards of material are required per blanket?
What was the direct materials price variance for March?
What is the standard direct labor rate per hour?
What was the direct labor rate variance for March? The direct labor efficiency variance?
What was the variable overhead rate variance for March? The variable overhead efficiency variance?
Prepare a standard cost card for one blanket.