Question

Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help contro
0 0
Add a comment Improve this question Transcribed image text
Answer #1
calculation of direct material price variance:
= (Standard price per unit of material - Actual price per unit of material) × Actual quantity
= ($0.31/Micron - $0.29/Micron ) × 79000 Micron = $1580 F
Calculation of direct material quantity variance
=(standard quantity of material required for actual production - actual quantity used) × Standard price per unit
((7 Micron X 4600 Unit)-40250 Pound )X $0.31 = $2496 UF
* Actual Qty used = 79000-38750=40250 Micron
Calculation of direct labor rate variance
= (Standard direct labor rate per hour - actual direct labor rate per hour) × Actual hours used
= ($7.50/hour - $8.10/hour) × 5560 Hours= $3336 UF
* Actual Hourly Rate:=$45036/5560=$8.10 / Hour
Calculation of direct labor efficiency variance:
= (standard hours required for actual production - actual hours used) × standard overhead recovery rate
= (1.1 Hour × 4600 Unit - 5560) × $7.50 = $3750 U F
Add a comment
Know the answer?
Add Answer to:
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...

    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: 6 microns per toy at $0.35 per micron Direct labor: 1.1 hours per toy at $6.50 per hour During July, the company produced 4,600 Maze toys. The toy's production data for the month are as follows: Direct materials: 72,000 microns were purchased at a cost of...

  • Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...

    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: 6 microns per toy at $0.31 per micron Direct labor: 1.4 hours per toy at $7.20 per hour During July, the company produced 5,100 Maze toys. The toy's production data for the month are as follows: Direct materials. 75,000 microns were purchased at a cost of...

  • Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...

    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 $0.33 per micron Direct labor: 1.4 hours per toy at $7.10 per hour During July, the company produced 4,900 Maze toys. The toy's production data for the month are as follows: Direct materials: 79,000 microns were purchased at a cost of...

  • Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...

    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: 6 microns per toy at $0.33 per micron Direct labor: 1.4 hours per toy at $7.30 per hour During July, the company produced 5,200 Maze toys. The toy's production data for the month are as follows: Direct materials: 76,000 microns were purchased at a cost of...

  • Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...

    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: 7 microns per toy at $0.31 per micron Direct labor: 1.1 hours per toy at $6.80 per hour During July, the company produced 5,500 Maze toys. The toy's production data for the month are as follows: Direct materials: 77,000 microns were purchased at a cost of...

  • Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...

    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: 7 microns per toy at $0.32 per micron Direct labor: 1.3 hours per toy at $6.80 per hour During July, the company produced 5,300 Maze toys. The toy's production data for the month are as follows: Direct materials: 79,000 microns were purchased at a cost of...

  • Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...

    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 $0.32 per micron Direct labor: 1.4 hours per toy at $7.10 per hour During July, the company produced 4,700 Maze toys. The toy's production data for the month are as follows: Direct materials: 73,000 microns were purchased at a cost of...

  • Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...

    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: 7 microns per toy at $0.33 per micron Direct labor: 11 hours per toy at $6.60 per hour During July, the company produced 5,300 Maze toys. The toy's production data for the month are as follows: Direct materials: 75,000 microns were purchased at a cost of...

  • Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...

    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: 6 microns per toy at $0.34 per micron Direct labor: 1.1 hours per toy at $7.10 per hour During July, the company produced 5,200 Maze toys. The toy's production data for the month are as follows: Direct materials: 74,000 microns were purchased at a cost of...

  • Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard...

    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: 6 microns per toy at $1.50 per micron Direct labor: 1.3 hours per toy at $21 per hour During July, the company produced 3,000 Maze toys. The toy's production data for the month are as follows: Direct materials. 25,000 microns were purchased at a cost of...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT