Required information [The following information applies to the questions displayed below.] Tastyfreeze Company is a small...
Required information [The following information applies to the questions displayed below.] Tastyfreeze Company is a small producer of fruit-flavored frozen desserts. For many years, its products have had strong regional sales because of brand recognition; however, other companies have begun marketing similar products in the area, and price competition has become increasingly important. Dan O’Mara, the company’s controller, is planning to implement a standard cost system for Tastyfreeze and has gathered considerable information from his coworkers about production and materials...
pleaseee helppppp Problem 10-43 Quincy Farms produces items made from local farm products that are distributed to supermarkets. For many years, Quincy's products have had strong regional sales on the basis of brand recognition: how- ever, other companies have begun marketing similar products in the area, and price competition has become increasingly important. Doug Gilbert, the company's controller, is planning to implement a standard cost system for Quincy and has gathered considerable information from his co-workers on production and material...
Required information The following information applies to the questions displayed below] Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. $4.80 per 1b.) Direct labor (6 hrs. e $14 per hr.) Factory overhead-variable (6 hrs.e $7 per hr.) Factory overhead-fixed (6 hrs. e $12 per hr.) $144.00 84.00 42.00 72.00 Total standard cost $342.00 The predetermined overhead rate is based on a planned operating volume of 80 % of the productive capacity of...
Required information [The following information applies to the questions displayed below.] Mom’s Apple Pie Company uses a standard cost system. The standard direct labor time for each pie is 10 minutes. During the most recent month, the company produced and sold 6,000 pies. The standard direct labor rate is $8 per hour; the actual labor rate per hour for the month was $8.40. The company used a total of 980 labor hours. What was the direct labor rate variance for...
Required information [The following information applies to the questions displayed below] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $7 per lb.) (2 hrs. $16 per hr.) (2 hrs. @ $13 per hr.) Actual 44.3e9 lbs. @ $7.10 per lb. 14,300 hrs. $16.50 per hr. $196,700 7,300 (1) Compute the standard cost per unit Direct materials Direct labor Overhead Total (2) Compute the total cost variance for June,...
Required information [The following information applies to the questions displayed below. A manufactured product has the following information for June. Direct materials 1 Actual lbs. @ $7.20 per 9 54,400 lb. Standard (7 lbs. @ $7 per lb.) (3 hrs. @ $15 per hr.) (3 hrs. @ $12 per hr.) Direct labor Overhead Units manufactured 32 saa hrs. @ $15.50 per 22,8001 hr. $283,300 7,700 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute...
Required information (The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. $17 per hr.) (2 hrs. $12 per hr.) Actual 52,200 lbs. @ $8.10 per lb. 16,900 hrs. $17.60 per hr. $212,200 8,600 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance for June. Indicate...
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (3 hrs. @ $16 per hr.) (3 hrs. @ $12 per hr.) Actual 49,000 lbs. @ $8.10 per lb. 23,900 hrs. @ $16.50 per hr. $297,500 8,100 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance...
Required information The following information applies to the questions displayed below Part 2 of 3 A manufactured product has the following information for June. 9.09 points Actual Standard (6 lbs. s8 per lb.) (2 hrs.$16 per hr.) (2 hrs. $12 per hr.) 48,500 1bs. s.10 per 1b. 15,700 hrs. $16.50 per hr. $198,000 8,000 Direct materials Direct labor Skipped Overhead Units manufactured efook Compute the direct materials price variance and the direct materials quantity varlance. Indicate whether each variance is...
Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (5 lbs. @ $8 per lb.) (2 hrs. @ $17 per hr.) (2 hrs. @ $12 per hr.) Actual 43,900 lbs. @ $8.10 per lb. 17,100 hrs. @ $17.40 per hr. $214,700 8,700 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance...