Vaughn Construction Consultants performs cement core tests in its Greenville laboratory. The following standard costs for...
Vaughn Construction Consultants performs cement core tests in its Greenville laboratory. The following standard costs for the tests have been developed by the company’s controller, Landon Vaughn, based on performing 2,100 core tests per month. Standard Price Standard Quantity Standard Cost Direct materials $0.50 per pound 4 pounds $2.00 Direct labor $10 per DLH 0.50 DLH 5.00 Variable overhead $9 per DLH 0.50 DLH 4.50 Fixed overhead $16 per DLH 1 DLH 16.00 Total standard cost per test $27.50 At the end of March, London reported the following operational results: ● The company actually performed 2,210 core tests during the month. ● 8,400 pounds of direct materials were purchased during the month at a total cost of $5,800. ● 6,200 pounds of direct materials were used to conduct the core tests. ● 850 direct labor hours were worked at a total cost of $9,750. ● Actual variable overhead was $7,900. ● Actual fixed overhead was $15,900.
Fixed Overhead Spending Variance:
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Vaughn Construction Consultants performs cement core tests in
its Greenville laboratory. The following standard costs for...
Carson Construction Consultants performs cement core tests in its Greenville laboratory. The following standard costs for...
Carson Construction Consultants performs cement core tests in its Greenville laboratory. The following standard costs for the tests have been developed by the company’s controller, Landon Carson, based on performing 2,100 core tests per month. Standard Price Standard Quantity Standard Cost Direct materials $0.50 per pound 4 pounds $2.00 Direct labor $10 per DLH .5 DLH 5.00 Variable overhead $9 per DLH .5 DLH 4.50 Fixed overhead $16 per DLH .5 DLH 8.00 Total standard cost per test $19.50 At...
Sunland Construction Consultants performs cement core tests in its Greenville laboratory. The following standard costs for...
Sunland Construction Consultants performs cement core tests in its Greenville laboratory. The following standard costs for the tests have been developed by the company’s controller, Landon Sunland, based on performing 2,100 core tests per month. Standard Price Standard Quantity Standard Cost Direct materials $0.50 per pound 4 pounds $2.00 Direct labor $11 per DLH 0.50 DLH 5.50 Variable overhead $9 per DLH 0.50 DLH 4.50 Fixed overhead $16 per DLH 1 DLH 16.00 Total standard cost per test $28.00 At...
Vaughn Construction Consultants performs cement core tests in its Greenville laboratory. month. he following standard costs...
Vaughn Construction Consultants performs cement core tests in its Greenville laboratory. month. he following standard costs for the tests have bean developed by the company's controller, Landon Vaughn, based on performing 2,100 care tests Standard Price Standard Quantity Standard Cost Direct materials $0.50 per pound 4 pounds 2.00 Direct labar $10 per DLH a.50 DLH 5.00 ead ived cuechead 16 $27.50 Total standard cost per test March, London reported the following operational results At the end The company actually performed...
QUESTIONS 28 THROUGH 33 ARE BASED ON THE FOLLOWING INFORMATION: Cox Engineering performs cement core tests...
QUESTIONS 28 THROUGH 33 ARE BASED ON THE FOLLOWING INFORMATION: Cox Engineering performs cement core tests in its laboratory. The following standards have been set for each core test performed: SP Direct materials, 3 pounds @ $0.75 per pound. Direct labor, 0.4 hours @ $12.00 per hour.se Variable factory overhead, 0.4 hours @ $4.00 per hour. Fixed factory overhead, 0.4 hours @ $10.00 per hour. Manufacturing overhead is assigned to core tests on the basis of direct labor hours. Budgeted...
Use the following data for questions 25 thru 31: Cox Engineering performs cement core tests in...
Use the following data for questions 25 thru 31: Cox Engineering performs cement core tests in its laboratory. The following standards have been set for each core test performed based on planned activity of 1,800 core tests: Standard Hours or Quantity Standard Price or Rate Price Per Unit Direct materials ........................................ 3 pounds $0.75 per pound $2.25 Direct labor............................................... 0.4 hours $12 per hour $4.80 Variable manufacturing overhead ............ 0.4 hours $9 per hour $3.60 Fixed manufacturing overhead............. $6,800 During...
Vaughn Corporation manufactures a single product. The standard cost per unit of product is shown below....
Vaughn Corporation manufactures a single product. The standard
cost per unit of product is shown below.
Direct materials—1 pound plastic at $7.00 per pound
$ 7.00
Direct labor—1.5 hours at $11.10 per hour
16.65
Variable manufacturing overhead
11.25
Fixed manufacturing overhead
6.75
Total standard cost per unit
$41.65
The predetermined manufacturing overhead rate is $12.00 per direct
labor hour ($18.00 ÷ 1.5). It was computed from a master
manufacturing overhead budget based on normal production of 8,850
direct labor hours...
Water Movers, Inc. is known throughout the world for its H2O-X high-capacity water pump, used in...
Water Movers, Inc. is known throughout the world for its H2O-X
high-capacity water pump, used in irrigation systems. The pump’s
standard cost is as follows. The company’s predetermined fixed
overhead rate is based on an expected capacity of 100,000 direct
labor hours per month.
Direct materials Direct labor Variable overhead Fixed overhead Standard Price Standard Quantity Standard Cost $96 40 36 20 $192 $6 per pound $10 per DLH $9 per DLH $5 per DLH 16 pounds 4 DLH 4...
Chic Design allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the...
Chic Design allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 2,000 flower pots: 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Direct materials ............... . Purchased 27,900 pounds at a cost of $3.40 per pound; Used 27,400 pounds to produce 2,000 pots Direct labor Worked...
Hector Company has developed the following standard costs for its product for 2019: HECTOR COMPANY Standard Cost Card...
Hector Company has developed the following standard costs for
its product for 2019:
HECTOR COMPANY
Standard Cost Card
Product
A
Cost Element
Standard Quantity
×
Standard Price
=
Standard Cost
Direct materials
4 pounds
$3
$12
Direct labor
3 hours
8
24
Manufacturing overhead
3 hours
4
12
$48
The company expected to produce 30,000 units of Product A in 2020
and work 90,000 direct labor hours.
Actual results for 2020 are as follows:
•
31,000 units of Product A...
Wagner Company developed the following standard costs for its product for 2011: Direct Materials - 4...
Wagner Company developed the following standard costs for its product for 2011: Direct Materials - 4 pounds at $4.50 per pound Direct Labor - 2 hours at $10.50 per hour Based on their flexible budget, budgeted Manufacturing Overhead costs are $80,000 of fixed costs plus variable costs of $4 per direct labor hour. Normal capacity is set at 20,000 units of product OR 40,000 DIRECT LABOR HOURS. (20,000 units x 2 labor hours per unit) Actual costs for 2011 were...
Vaughn Construction Consultants performs cement core tests in its Greenville laboratory. month. he following standard costs for the tests have bean developed by the company's controller, Landon Vaughn, based on performing 2,100 care tests Standard Price Standard Quantity Standard Cost Direct materials $0.50 per pound 4 pounds 2.00 Direct labar $10 per DLH a.50 DLH 5.00 ead ived cuechead 16 $27.50 Total standard cost per test March, London reported the following operational results At the end The company actually performed...
QUESTIONS 28 THROUGH 33 ARE BASED ON THE FOLLOWING INFORMATION: Cox Engineering performs cement core tests in its laboratory. The following standards have been set for each core test performed: SP Direct materials, 3 pounds @ $0.75 per pound. Direct labor, 0.4 hours @ $12.00 per hour.se Variable factory overhead, 0.4 hours @ $4.00 per hour. Fixed factory overhead, 0.4 hours @ $10.00 per hour. Manufacturing overhead is assigned to core tests on the basis of direct labor hours. Budgeted...
Vaughn Corporation manufactures a single product. The standard
cost per unit of product is shown below.
Direct materials—1 pound plastic at $7.00 per pound
$ 7.00
Direct labor—1.5 hours at $11.10 per hour
16.65
Variable manufacturing overhead
11.25
Fixed manufacturing overhead
6.75
Total standard cost per unit
$41.65
The predetermined manufacturing overhead rate is $12.00 per direct
labor hour ($18.00 ÷ 1.5). It was computed from a master
manufacturing overhead budget based on normal production of 8,850
direct labor hours...
Water Movers, Inc. is known throughout the world for its H2O-X
high-capacity water pump, used in irrigation systems. The pump’s
standard cost is as follows. The company’s predetermined fixed
overhead rate is based on an expected capacity of 100,000 direct
labor hours per month.
Direct materials Direct labor Variable overhead Fixed overhead Standard Price Standard Quantity Standard Cost $96 40 36 20 $192 $6 per pound $10 per DLH $9 per DLH $5 per DLH 16 pounds 4 DLH 4...
Chic Design allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 2,000 flower pots: 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Direct materials ............... . Purchased 27,900 pounds at a cost of $3.40 per pound; Used 27,400 pounds to produce 2,000 pots Direct labor Worked...
Hector Company has developed the following standard costs for
its product for 2019:
HECTOR COMPANY
Standard Cost Card
Product
A
Cost Element
Standard Quantity
×
Standard Price
=
Standard Cost
Direct materials
4 pounds
$3
$12
Direct labor
3 hours
8
24
Manufacturing overhead
3 hours
4
12
$48
The company expected to produce 30,000 units of Product A in 2020
and work 90,000 direct labor hours.
Actual results for 2020 are as follows:
•
31,000 units of Product A...
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