1. Tiger Company makes a product and uses the following standard unit costs for that product: Direct material quantity standard Direct material price standard Direct labor time standard Direct labor rate standard Variable manufacturing overhead rate standard Fixed manufacturing overhead rate standard Machine hours standard 6 pound per unit $ 9 per pound 3.5 hours per unit $12 per hour $ 6 per machine hour $ 5 per machine hour 3 hours per unit Given the flowing actual cost and usage data, compute the direct materials price and the direct materials quantity variances. 2. With the following information, compute the throughput time and the manufacturing cycle efficiency: Wait time Inspection time Processing time Move time Queue time 12.0 days 0.9 days 3.5 days 0.2 days 2.0 days 3. The standard direct labor time for producing one pair of original Crocs is 0.6 hours and the direct labor rate for producing one pair of original Crocs is $18.50 per hour. During February, 10,000 pairs of original Crocs were produced. Actual direct labor costs were $97,850 for 5,150 hours. Compute the direct labor rate variance and the direct labor efficiency variance for the month of February. 4. Hacking Tech, LLC provides security services for corporate computer systems and uses the following information: Fixed Component Variable Component Actual Totals for Per Month Per Job March, 2012 Revenue $420 $21,500 Tech Analysts Wages $7,600 $ 7,600 Mobile computer lab $2,100 $45 $ 4,395 Office expenses $4,500 $5 $ 4,755 Insurance $1,200 $ 1,200 The company uses the number of jobs as its measuring activity (for instance, the mobile computer lab expenses for March are $2,100 fixed costs plus $45 per job variable expenses for the $4,395 total mobile computer lab expenses for March). Prepare a flexible budget performance report showing the company’s activity variances and revenue and spending variances for March.
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