Homework Answers
Materials Price Variance
= (SP-AP) *AQ
= (2.25 - 2) * 400,000
= 0.25 * 400,000
= 100,000 F
OPTION A
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Seaside Company produces picture frames. During the year, 190,000 picture frames were produced. Materials and tabor...
Seaside Company produces picture frames. During the year 190,000 picture frames were produced. Materials and labor...
Seaside Company produces picture frames. During the year 190,000 picture frames were produced. Materials and labor standards for producing the picture frames are as follows: Direct materials (2 pieces of wood @ $2.25) $4.50 Direct labor (2 hours @ $10) $20.00 Seaside purchased and used 400,000 pieces of wood at $2.00 each and its actual labor hours were 360,000 hours at a wage rate of $10.50. Refer to Figure 10-5. What is Seaside's total labor variance? $20,000 F $20,000 U...
Seaside Company produces picture frames. During the year 190,000 picture frames were produced. Materials and labour...
Seaside Company produces picture frames. During the year 190,000 picture frames were produced. Materials and labour standards for producing the picture frames are as follows: Direct materials (2 pieces of wood @ $2.25) Direct labour (2 hours @ $10) $4.50 $20.00 Seaside purchased and used 400,000 pieces of wood at $2.00 each and its actual labour hours were 360,000 hours at a wage rate of $10.50. 16. What is the materials usage variance? $112,500 F $112.500 U $45,000 F $45,000...
1. Your Company produces Widgets. During the year 210,000 widgets were produced. Materials and labor standards...
1. Your Company produces Widgets. During the year 210,000 widgets were produced. Materials and labor standards for producing the widgets are as follows: Direct materials (2 pieces of wood @ $2.75 each) Direct labor (1.5 hours @ $10.10 per hour) You purchased and used 430,000 pieces of wood at $2.10 each and its actual labor expense was $3,255,000 for 310,000 hours. What are the materials variances? Using the columnar approach described in the textbook fill in the table below for...
Sutherland Company produced 7,000 book bags in June and actos amounts were as follows: (Click the...
Sutherland Company produced 7,000 book bags in June and actos amounts were as follows: (Click the icon to view the actual amounts) Sutherlands standards were as follows: (Click the icon to view the standards.) Requirements 1. Compute cost and efficiency variances for direct materials, dired labor, and variable overhead 2. Compute the cost and volume variances for fred overhead Requirement 1. Compute cost and efficiency variances for direct materials, direct labor, and variable overhead Select the formulas to calculate direct...
Labor Variances Verde Company produces wheels for bicycles. During the year, 657,000 wheels were produced. The...
Labor Variances Verde Company produces wheels for bicycles. During the year, 657,000 wheels were produced. The actual labor used was 363,000 hours at $9.30 per hour. Verde has the following labor standards: 1) $10.40 per hour; 2) 0.46 hour per wheel. Required: dropdown 1. Compute the labor rate vaiaCe $ Favorable 2. Compute the labor efficiency variance. Unfavorable V Feedback Y Check My Work Partially correct
help please? UULUU Journal Entries, T-Accounts, Cost of Goodanufacturernd Sold During May, the following transactions were...
help please?
UULUU Journal Entries, T-Accounts, Cost of Goodanufacturernd Sold During May, the following transactions were completed and reported by Jerico Company: a. Materials purchased on account, $60,200. b. Materials issued to production to fill job-order requisitions: direct materials, $50,000; Indirect materials, $8,800. c. Payroll for the month: direct labor, $75,000; Indirect labor, $35,000; administrative, $28,000; sales, $19,000. d. Depreciation on factory plant and equipment, $10,500. e. Property taxes on the factory accrued during the month, $1,450. f. Insurance on...
Check my work Check My Work button is now enabledItem 5Item 5 1.42 points Huron Company...
Check my work Check My Work button is now enabledItem 5Item 5 1.42 points Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 7.30 pounds $ 2.25 per pound $ 16.43 Direct labor 0.65 hours $ 6.50 per hour $ 4.22 During the most recent month, the following activity was recorded: 16,600.00...
apter HomeworkI Check my work 2 Huron Company produces a commercial cleaning compound known as Zoom....
apter HomeworkI Check my work 2 Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Standard Price Standard 10 points Hours or Rate Cost Direct materials Direct labor 6.40 pounds 2.40 per pound 15.36 0.25 hours 11.50 per hour $ 2.88 eBook Print References During the most recent month, the following activity was recorded: a. 17,500.00 pounds of material were purchased...
Check my work Dawson Toys, Ltd. produces a toy called the Maze. The company has recently...
Check my work Dawson Toys, Ltd. produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy Direct materials: 8 microns per toy at $0.34 per micron Direct labor 14 hours per toy at $710 per hour During July, the company produced 4,900 Maze toys. The toy's production data for the month are as follows: Direct materials 73,000 microns were purchased at...
Check my During the year, the company had no beginning or ending inventories and it started,...
Check my During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs-Job D-70 and Job C-200. It provided the following information related to those two jobs: Job D-70t Direct materials cost 378,000 Direct labor cost Machine-hours Molding Fabrication Total 329,000 $ 707,000 220,000 140,000 $360,000 9,000 29,000 20,000 Job c-200: Direct materials cost 270,000 Direct labor cost Kachine-hours 220,000 $490,000 130,000 260,000 $ 390,000 30,000 39,000 9,000 Delph had no...
Seaside Company produces picture frames. During the year 190,000 picture frames were produced. Materials and labour standards for producing the picture frames are as follows: Direct materials (2 pieces of wood @ $2.25) Direct labour (2 hours @ $10) $4.50 $20.00 Seaside purchased and used 400,000 pieces of wood at $2.00 each and its actual labour hours were 360,000 hours at a wage rate of $10.50. 16. What is the materials usage variance? $112,500 F $112.500 U $45,000 F $45,000...
1. Your Company produces Widgets. During the year 210,000 widgets were produced. Materials and labor standards for producing the widgets are as follows: Direct materials (2 pieces of wood @ $2.75 each) Direct labor (1.5 hours @ $10.10 per hour) You purchased and used 430,000 pieces of wood at $2.10 each and its actual labor expense was $3,255,000 for 310,000 hours. What are the materials variances? Using the columnar approach described in the textbook fill in the table below for...
Sutherland Company produced 7,000 book bags in June and actos amounts were as follows: (Click the icon to view the actual amounts) Sutherlands standards were as follows: (Click the icon to view the standards.) Requirements 1. Compute cost and efficiency variances for direct materials, dired labor, and variable overhead 2. Compute the cost and volume variances for fred overhead Requirement 1. Compute cost and efficiency variances for direct materials, direct labor, and variable overhead Select the formulas to calculate direct...
Labor Variances Verde Company produces wheels for bicycles. During the year, 657,000 wheels were produced. The actual labor used was 363,000 hours at $9.30 per hour. Verde has the following labor standards: 1) $10.40 per hour; 2) 0.46 hour per wheel. Required: dropdown 1. Compute the labor rate vaiaCe $ Favorable 2. Compute the labor efficiency variance. Unfavorable V Feedback Y Check My Work Partially correct
help please?
UULUU Journal Entries, T-Accounts, Cost of Goodanufacturernd Sold During May, the following transactions were completed and reported by Jerico Company: a. Materials purchased on account, $60,200. b. Materials issued to production to fill job-order requisitions: direct materials, $50,000; Indirect materials, $8,800. c. Payroll for the month: direct labor, $75,000; Indirect labor, $35,000; administrative, $28,000; sales, $19,000. d. Depreciation on factory plant and equipment, $10,500. e. Property taxes on the factory accrued during the month, $1,450. f. Insurance on...
apter HomeworkI Check my work 2 Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Standard Price Standard 10 points Hours or Rate Cost Direct materials Direct labor 6.40 pounds 2.40 per pound 15.36 0.25 hours 11.50 per hour $ 2.88 eBook Print References During the most recent month, the following activity was recorded: a. 17,500.00 pounds of material were purchased...
Check my work Dawson Toys, Ltd. produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy Direct materials: 8 microns per toy at $0.34 per micron Direct labor 14 hours per toy at $710 per hour During July, the company produced 4,900 Maze toys. The toy's production data for the month are as follows: Direct materials 73,000 microns were purchased at...
Check my During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs-Job D-70 and Job C-200. It provided the following information related to those two jobs: Job D-70t Direct materials cost 378,000 Direct labor cost Machine-hours Molding Fabrication Total 329,000 $ 707,000 220,000 140,000 $360,000 9,000 29,000 20,000 Job c-200: Direct materials cost 270,000 Direct labor cost Kachine-hours 220,000 $490,000 130,000 260,000 $ 390,000 30,000 39,000 9,000 Delph had no...
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