Morocco Desk Co. purchases 6,000 feet of lumber at $6 per foot. The standard price for...
Morocco Desk Co. purchases 6,000 feet of lumber at $6 per foot. The standard price for direct materials is $5. The entry to journalize the purchase and unfavorable direct materials price variance is
a.
Direct Materials 36,000
Direct Materials Price Variance 6,000
Accounts Payable 30,000
b.
Direct Materials 30,000
Direct Materials Price Variance 6,000
Accounts Payable 36,000
c.
Work in Process 36,000
Direct Materials Price Variance 6,000
Accounts Payable 30,000
d.
Direct Materials 30,000
Accounts Payable 30,000
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Morocco Desk Co. purchases 6,000 feet of lumber at $6 per foot.
The standard price for...
Morocco Desk Co. purchases 6,000 feet of lumber at $6.00 per foot. The standard price for...
Morocco Desk Co. purchases 6,000 feet of lumber at $6.00 per foot. The standard price for direct materials is $5.00. The entry to record the purchase and unfavorable direct materials price variance is a. Direct Materials 30,000 Direct Materials Price Variance 6,000 Accounts Payable 36,000 ob. Direct Materials 30,000 Accounts Payable 30,000 OC. Direct Materials 36,000 Direct Materials Price Variance 6,000 Accounts Payable 30,000 d. Work in Process 36,000 Direct Materials Price Variance 6,000 Accounts Payable 30,000
What is the direct labor rate variance? 50 unfavorable 125 unfavorable 125 favorable The following information...
What is the direct labor rate variance? 50 unfavorable 125 unfavorable 125 favorable The following information for Q 7-8 The St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% normal production capacity. Production was budgeted to be 12,000 units. The standard hours for production were 5 hours per unit. The variable overhead rate was S3 per hour. Actual fixed overhead was $360,000 and actual variable overhead was $170,000. Actual production was 11,800 units. 7. The variable factory...
Acoma, Inc, has determined a standard direct materials cost per unit of $7.00 (2 feet * $3.50 per foot). Last month...
Acoma, Inc, has determined a standard direct materials cost per unit of $7.00 (2 feet * $3.50 per foot). Last month, Acoma purchased and used 4,450 feet of direct materials for which it paid $15,130. The company produced and sold 2,030 units during the month Calculate the direct materials price, quantity, and spending variances. (Indicate the effect of each variance by selecting "F for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Round your intermediate calculations...
Question 28 (1 point) The Lucy Corporation purchased and used 129,000 board feet of lumber in...
Question 28 (1 point) The Lucy Corporation purchased and used 129,000 board feet of lumber in production, at a total cost of $1,548,000. Original production had been budgeted for 22,000 units with a standard material quantity of 5.7 board feet per unit and a standard price of $12 per board foot. Actual production was 23,500 units. The materials quantity variance is $63,000 favorable $63,000 unfavorable $59,400 favorable $59.400 unfavorable
During June, Danby Company's material purchases amounted to 6,000 pounds at a price of $7.30 per...
During June, Danby Company's material purchases amounted to 6,000 pounds at a price of $7.30 per pound. Actual costs incurred in the production of 2,000 units were as follows: Direct labor: Direct material: $116,745 ($18.10 per hour) $ 30,660 ($7.30 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 3 hours per unit Rate, $18 per hour Direct Material: Quantity, 2 pounds per unit Price, $7 per pound Required: Fill in the...
Acoma, Inc., has determined a standard direct materials cost per unit of $6.60 (2 feet <...
Acoma, Inc., has determined a standard direct materials cost per unit of $6.60 (2 feet < $3.30 per foot). Last month, Acoma purchased and used 4,410 feet of direct materials for which it paid $14,112. The company produced and sold 2,090 units during the month. Calculate the direct materials price, quantity, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations...
Acoma, Inc., has determined a standard direct materials cost per unit of $6.20 (2 feet x...
Acoma, Inc., has determined a standard direct materials cost per unit of $6.20 (2 feet x $3.10 per foot). Last month, Acoma purchased and used 4,280 feet of direct materials for which it paid $12,840. The company produced and sold 2,000 units during the month. Calculate the direct materials price, quantity, and spending variances. (Round your intermediate calculations to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Direct Materials Price Variance...
Acoma, Inc., has determined a standard direct materials cost per unit of $8.20 (2 feet x...
Acoma, Inc., has determined a standard direct materials cost per unit of $8.20 (2 feet x $4.10 per foot). Last month, Acoma purchased and used 4,660 feet of direct materials for which it paid $18,640. The company produced and sold 2,190 units during the month Calculate the direct materials price, quantity, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations...
Cost per Cost per 8 9.12 29.00 Direct materials: standard: 1.90 feet at $4.80 per Foot...
Cost per Cost per 8 9.12 29.00 Direct materials: standard: 1.90 feet at $4.80 per Foot Actual 1.85 foot at 15.20 per foot Direct labor: standard: 1.45 hours at $20.00 per hour Actual 1.50 hours at $19.50 per hour Variable overhead: standard, 1.45 hourRat 10.00 per hour Actual 1.50 hours at $9.60 por hour Total cost per unit ENCORR of actual cost over standard cont per unit 29.25 14.50 14.40 $52.62 $53.27 The production superintendent was pleased when he saw...
During June, Danby Company's material purchases amounted to 6,000 pounds at a price of $7.30 per...
During June, Danby Company's material purchases amounted to 6,000 pounds at a price of $7.30 per pound. Actual costs incurred in the production of 2,000 units were as follows: Direct labor: Direct material: $116,745 ($18.10 per hour) $ 30,660 ($7.30 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 3 hours per unit Rate, $18 per hour Direct Material: Quantity, 2 pounds per unit Price, $7 per pound Required: Fill in the...
Morocco Desk Co. purchases 6,000 feet of lumber at $6.00 per foot. The standard price for direct materials is $5.00. The entry to record the purchase and unfavorable direct materials price variance is a. Direct Materials 30,000 Direct Materials Price Variance 6,000 Accounts Payable 36,000 ob. Direct Materials 30,000 Accounts Payable 30,000 OC. Direct Materials 36,000 Direct Materials Price Variance 6,000 Accounts Payable 30,000 d. Work in Process 36,000 Direct Materials Price Variance 6,000 Accounts Payable 30,000
What is the direct labor rate variance? 50 unfavorable 125 unfavorable 125 favorable The following information for Q 7-8 The St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% normal production capacity. Production was budgeted to be 12,000 units. The standard hours for production were 5 hours per unit. The variable overhead rate was S3 per hour. Actual fixed overhead was $360,000 and actual variable overhead was $170,000. Actual production was 11,800 units. 7. The variable factory...
Acoma, Inc, has determined a standard direct materials cost per unit of $7.00 (2 feet * $3.50 per foot). Last month, Acoma purchased and used 4,450 feet of direct materials for which it paid $15,130. The company produced and sold 2,030 units during the month Calculate the direct materials price, quantity, and spending variances. (Indicate the effect of each variance by selecting "F for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Round your intermediate calculations...
Question 28 (1 point) The Lucy Corporation purchased and used 129,000 board feet of lumber in production, at a total cost of $1,548,000. Original production had been budgeted for 22,000 units with a standard material quantity of 5.7 board feet per unit and a standard price of $12 per board foot. Actual production was 23,500 units. The materials quantity variance is $63,000 favorable $63,000 unfavorable $59,400 favorable $59.400 unfavorable
During June, Danby Company's material purchases amounted to 6,000 pounds at a price of $7.30 per pound. Actual costs incurred in the production of 2,000 units were as follows: Direct labor: Direct material: $116,745 ($18.10 per hour) $ 30,660 ($7.30 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 3 hours per unit Rate, $18 per hour Direct Material: Quantity, 2 pounds per unit Price, $7 per pound Required: Fill in the...
Acoma, Inc., has determined a standard direct materials cost per unit of $6.60 (2 feet < $3.30 per foot). Last month, Acoma purchased and used 4,410 feet of direct materials for which it paid $14,112. The company produced and sold 2,090 units during the month. Calculate the direct materials price, quantity, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations...
Acoma, Inc., has determined a standard direct materials cost per unit of $6.20 (2 feet x $3.10 per foot). Last month, Acoma purchased and used 4,280 feet of direct materials for which it paid $12,840. The company produced and sold 2,000 units during the month. Calculate the direct materials price, quantity, and spending variances. (Round your intermediate calculations to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Direct Materials Price Variance...
Acoma, Inc., has determined a standard direct materials cost per unit of $8.20 (2 feet x $4.10 per foot). Last month, Acoma purchased and used 4,660 feet of direct materials for which it paid $18,640. The company produced and sold 2,190 units during the month Calculate the direct materials price, quantity, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations...
Cost per Cost per 8 9.12 29.00 Direct materials: standard: 1.90 feet at $4.80 per Foot Actual 1.85 foot at 15.20 per foot Direct labor: standard: 1.45 hours at $20.00 per hour Actual 1.50 hours at $19.50 per hour Variable overhead: standard, 1.45 hourRat 10.00 per hour Actual 1.50 hours at $9.60 por hour Total cost per unit ENCORR of actual cost over standard cont per unit 29.25 14.50 14.40 $52.62 $53.27 The production superintendent was pleased when he saw...
During June, Danby Company's material purchases amounted to 6,000 pounds at a price of $7.30 per pound. Actual costs incurred in the production of 2,000 units were as follows: Direct labor: Direct material: $116,745 ($18.10 per hour) $ 30,660 ($7.30 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 3 hours per unit Rate, $18 per hour Direct Material: Quantity, 2 pounds per unit Price, $7 per pound Required: Fill in the...
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