Homework Answers
| Exercise-2 |
| Actual price of Fabric per Decimeter= Total Fabric Cost / Actual fabric Quantity Used |
| 58080 Euro/ 4400 Decimeter= Euro 13.2 per Decimeter |
| Standard Quantity for Unit Produced= Standard Unit Required per Unit X Actual Quantity |
| 1.2 Decimeter X 4000 beret =4800 Decimeter |
| Material price Variance= ( Standard Rate- Actual Rate) X Aquatity quantity |
| (12-13.20)X 4400=Euro 5280 |
| MPV is UnFavourable |
| Material Quantity Variance= (Standard Quantity required- Actual Quantity Used ) X Standard rate per Unit |
| (4800-4400)X 12= Euro 4800 |
| MQV is Favourable |
| Exercise-3 |
| Actual Labour Rate = Actual Cost / Actual labour Hour Used |
| $9072/ 1120=$8.1per Hour |
| Standard Hour Allowed for Unit Produced= Standard Hour Required per Unit X Actual Quantity |
| (1/20 Sandwitch per Hour X 28000 Sandwitch) =1400 Hour |
| Labour Rate Variance= ( Standard Rate- Actual Rate) X Aquatity Hour |
| (9-8.10)X 1120=$1008 |
| LRV is Favourable |
| Labour Efficiency Variance= (Standard Hour required- Actual Hour Used ) X Standard rate per Hour |
| (1400-1120)X 9= $2520 |
| LEV is Favourable |
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EX
2 and 3 with explaination please!
Exercise 2 French Co. makes berets out of a...
Exercise 4 French Co. makes berets out of a special dyed wool fabric. During the month,...
Exercise 4 French Co. makes berets out of a special dyed wool fabric. During the month, the company made 8000 berets using 8800 decimeters of fabric. The fabric cost 232320 Euros. According to company standards, each beret requires 1.2 decimeters of fabric at a cost of 24 Euros per decimeter What is the actual price of fabric per decimeter? х What is the standard quantity given the number of berets produced? X What is the amount of material pricévariance? X...
question 3&4 French Co. makes berets out of a special dyed wool fabric. During the month,...
question 3&4
French Co. makes berets out of a special dyed wool fabric. During the month, the company made 12,000 berets using 13,200 decimeters of fabric. The fabric cost 522,720 Euros. According to company standards, each beret requires 1.2 decimeters of fabric at a cost of 36 Euros per decimeter. Find a) actual price of fabric per decimeter; b) standard quantity given the number of berets produced; c) amount of material price variance; d) amount of material quantity (efficiency) variance...
ex 4,5 with explaination please! Exercise 4 Mojo Co. makes zippos out of a material called...
ex
4,5 with explaination please!
Exercise 4 Mojo Co. makes zippos out of a material called ladi. During the month, Mojo made 4900 zippos using 14210 kilos of ladi. The ladi cost 218834 Yen. During the month, Mojo also incurred a direct labor cost of 540225 Yen having worked 30870 direct labor hours. Company standards show each zippo requires 3 kilos of ladi at a cost of 14 Yen per kilo. It should take 7 hours of direct labor to...
EX5 Please help with explaination Exercise 5 Indi Co. makes zollies out of a special type...
EX5
Please help with explaination
Exercise 5 Indi Co. makes zollies out of a special type of rubber. During the month, Indi made 6400 zollies using 13440 kilos of rubber. The rubber cost $580608. During the month, Indi also incurred a direct labor cost of $414720 having worked 46080 direct labor hours. Indi's standard costs include 2 kilos of rubber at a cost of $48 per kilo. The standard direct labor time is 8 hours per zollie at a standard...
Chapter 10: Applying Excel: Exercise (Part 2 of 2) Requirement 2: Revise the data in your...
Chapter 10: Applying Excel: Exercise (Part 2 of 2) Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: A 1 Chapter 10: Applying Excel 3 4 Data Exhibit 10-1: Standard Cost Card Inputs 6 Direct materials Standard Quantity 3.0 pounds 0.50 hours 0.50 hours Standard Price 4.00 per pound 22.00 per hour 6.00 per hour 7 Direct labor Variable manufacturing overhead 8 9 10 Actual results: 11 Actual output Actual...
Gyne Company makes Product X using special plastic as the main material. The company made 1,000...
Gyne Company makes Product X using special plastic as the main material. The company made 1,000 units of X using 4,500 lbs of plastic. The plastic actually cost the company $22 per lbs (total $99,000). According to the company’s standards, each unit of X should require 5 lbs of plastic, at a price of $20 per lbs. (a) What cost of plastic should have been incurred to make 1,000 units of X? (b) How much is the spending (total) variance...
i Data Table Tipton Company manufactures shirts. During June, Tipton made 1.200 shirts and gathered the...
i Data Table Tipton Company manufactures shirts. During June, Tipton made 1.200 shirts and gathered the following additional data: (Click on the icon to view the data.) Read the requirements. 7. Calculate the direct materials cost variance. Select the formula, then enter the amounts and compute the cost variance for direct materials and identify whether the variance is favorable (F) or unfavorable (U). Direct materials cost standard Direct materials efficiency standard Actual amount of fabric purchased and used Actual cost...
Ch 08 Ex 8-15 1 Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production act...
Ch 08 Ex 8-15 1 Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year. 15 polnts 28,000 lbs. at $4.90 per lb. 8,650 hours for a total of $174,730 51,600 Actual direct materials used Actual direct labor used Actual units produced еВook Budgeted standards for each unit produced are 0.50 pound of direct material at $4.85 per pound and 10 minutes of direct labor at $21.20 per hour...
Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of...
Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year. 34,000 lbs. at $5.95 per lb 10,600 hours for a total of $220,480 Actual direct materials used Actual direct labor used Actual units produced 63,300 Budgeted standards for each unit produced are 0.50 pound of direct material at $5.90 per pound and 10 minutes of direct labor at $21.80 per hour. AH Actual Hours SH Standard Hours AR Actual...
Check my work Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes...
Check my work Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year Ketual direct materials used Actual direct labor used Actual units produced 27,000 lbs. at $4.75 per lb. 8,600 hours for a total of $172,860 51.000 Budgeted standards for each unit produced are 0.50 pound of direct material at $4.70 per pound and 10 minutes of direct labor at $21.00 per hour. AH - Actual Hours SH...
Exercise 4 French Co. makes berets out of a special dyed wool fabric. During the month, the company made 8000 berets using 8800 decimeters of fabric. The fabric cost 232320 Euros. According to company standards, each beret requires 1.2 decimeters of fabric at a cost of 24 Euros per decimeter What is the actual price of fabric per decimeter? х What is the standard quantity given the number of berets produced? X What is the amount of material pricévariance? X...
question 3&4
French Co. makes berets out of a special dyed wool fabric. During the month, the company made 12,000 berets using 13,200 decimeters of fabric. The fabric cost 522,720 Euros. According to company standards, each beret requires 1.2 decimeters of fabric at a cost of 36 Euros per decimeter. Find a) actual price of fabric per decimeter; b) standard quantity given the number of berets produced; c) amount of material price variance; d) amount of material quantity (efficiency) variance...
ex
4,5 with explaination please!
Exercise 4 Mojo Co. makes zippos out of a material called ladi. During the month, Mojo made 4900 zippos using 14210 kilos of ladi. The ladi cost 218834 Yen. During the month, Mojo also incurred a direct labor cost of 540225 Yen having worked 30870 direct labor hours. Company standards show each zippo requires 3 kilos of ladi at a cost of 14 Yen per kilo. It should take 7 hours of direct labor to...
EX5
Please help with explaination
Exercise 5 Indi Co. makes zollies out of a special type of rubber. During the month, Indi made 6400 zollies using 13440 kilos of rubber. The rubber cost $580608. During the month, Indi also incurred a direct labor cost of $414720 having worked 46080 direct labor hours. Indi's standard costs include 2 kilos of rubber at a cost of $48 per kilo. The standard direct labor time is 8 hours per zollie at a standard...
Chapter 10: Applying Excel: Exercise (Part 2 of 2) Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent period as shown below: A 1 Chapter 10: Applying Excel 3 4 Data Exhibit 10-1: Standard Cost Card Inputs 6 Direct materials Standard Quantity 3.0 pounds 0.50 hours 0.50 hours Standard Price 4.00 per pound 22.00 per hour 6.00 per hour 7 Direct labor Variable manufacturing overhead 8 9 10 Actual results: 11 Actual output Actual...
i Data Table Tipton Company manufactures shirts. During June, Tipton made 1.200 shirts and gathered the following additional data: (Click on the icon to view the data.) Read the requirements. 7. Calculate the direct materials cost variance. Select the formula, then enter the amounts and compute the cost variance for direct materials and identify whether the variance is favorable (F) or unfavorable (U). Direct materials cost standard Direct materials efficiency standard Actual amount of fabric purchased and used Actual cost...
Ch 08 Ex 8-15 1 Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year. 15 polnts 28,000 lbs. at $4.90 per lb. 8,650 hours for a total of $174,730 51,600 Actual direct materials used Actual direct labor used Actual units produced еВook Budgeted standards for each unit produced are 0.50 pound of direct material at $4.85 per pound and 10 minutes of direct labor at $21.20 per hour...
Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year. 34,000 lbs. at $5.95 per lb 10,600 hours for a total of $220,480 Actual direct materials used Actual direct labor used Actual units produced 63,300 Budgeted standards for each unit produced are 0.50 pound of direct material at $5.90 per pound and 10 minutes of direct labor at $21.80 per hour. AH Actual Hours SH Standard Hours AR Actual...
Check my work Exercise 08-15 Direct materials and direct labor variances LO P3 The following describes production activities of Mercer Manufacturing for the year Ketual direct materials used Actual direct labor used Actual units produced 27,000 lbs. at $4.75 per lb. 8,600 hours for a total of $172,860 51.000 Budgeted standards for each unit produced are 0.50 pound of direct material at $4.70 per pound and 10 minutes of direct labor at $21.00 per hour. AH - Actual Hours SH...
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