Homework Answers
| Solution-7 |
| Total Dollar debit to WIP= Std Hour per Unit X Actual Unit X Std Rate |
| =(5000unt/2000)X 3000 Unit X $21=$157500 |
| Sol:-2 |
| Direct materal Usage Variance= ( Std Quantity required for actual unit - Actual Quantity used ) Std Price |
| (( 3.5 Pound X 1300)-4000 )X $0.73=$401.50 Favourable |
As HOMEWORKLIB RULES solution for 1 st question can be provided . However, 2 question are solved. please upload rest of the question seperately.
Add Answer to:
QUESTION 7 2 points A firm with a standard costing system budgets 5,000 direct labor hours...
QUESTION 7 Afirm with a standard costing system budgets 4,000 direct labor hours at $20 per...
QUESTION 7 Afirm with a standard costing system budgets 4,000 direct labor hours at $20 per hour to make 2,000 units. The firm actually produced 3,000 units using 7,000 direct labor hours at $24 per hour. When labor occurred during the period, what was the total dollar value of the debit to Work-in-Process Inventory? QUESTIONS 2 points Garland Company uses a standard cost system. The standard for each finished unit of product allows for 3.7 pounds of plastic at $0.71...
QUESTION 9 2 points Elisabeth Company's unadjusted CCOGS for 20X1 was $84,000. They had a $4,000 unfavorable direc...
QUESTION 9 2 points Elisabeth Company's unadjusted CCOGS for 20X1 was $84,000. They had a $4,000 unfavorable direct labor efficiency variance, a $1,000 favorable direct labor rate variance, a $3,000 unfavorable direct materials purchase price variance, and a $4,000 unfavorable direct materials usage variance. They did not have any overhead variances. What was Elisabeth Company's adjusted COGS amount for 20X1? QUESTION 10 2 points Alex Company manufactures boats in bottles (to sell to rich people who don't have the time...
QUESTION 1 2 points New Tone, Inc makes MP3 players and uses standard costing. They recently...
QUESTION 1 2 points New Tone, Inc makes MP3 players and uses standard costing. They recently used 20,000 labor hours to produce 8,000 units. They originally budgeted 21,000 hours to produce 9,000 units with payroll of $333,000. The company's actual payrol cost amounted to $305,000. What was the direct labor rate variance? Please round to the nearest dollar at the end of your calculations. Also, type "u' for unfavorable or "F for favorable to indicate the direction of the variance....
(1) Alex Company manufactures boats in bottles (to sell to rich people who don’t have the time to make them themselves)....
(1) Alex Company manufactures boats in bottles (to sell to rich people who don’t have the time to make them themselves). For their standard costing system they allow 4 hours of direct labor per bottle at a wage of $12 per hour. The last batch only took 4.5 hours per bottle. They made 12 bottles. However, they ended up paying employees $12 per hour. What is the standard cost for labor per bottle? (in dollars per bottle) (2) Garland Company...
QUESTION 4 Alex Company manufactures boats in bottles (to sell to rich people who don't have...
QUESTION 4 Alex Company manufactures boats in bottles (to sell to rich people who don't have the time to make them themselves). For their standard costing system they allow 5 hours of direct labor per bottle at a wage of $12 per hour. The last batch only took 4.5 hours per bottle. They made 12 bottles. However, they ended up paying employees $12 per hour. What is the standard cost for labor per bottle? (in dollars per bottle) QUESTION 5...
QUESTION 2 2 points Save Afirm with a standard costing system budgets 5,000 direct labor hours at $20 per hours t...
QUESTION 2 2 points Save Afirm with a standard costing system budgets 5,000 direct labor hours at $20 per hours to make 2,000 units. The firm actually produced 2,000 units using 6,000 direct labor hours at $22 per hour. When labor occurred during the period, what was the total dollar value of the credit to wages payable? QUESTION 3 2 points Tolton, Inc. is just shy of hitting its operating income target. The manager. KT. Tolton, decides to purchase inferior...
QUESTION 1 2 p Garland Company uses a standard cost system. The standard for each finished...
QUESTION 1 2 p Garland Company uses a standard cost system. The standard for each finished unit of product allows for 3 pounds of plastic at $0.7 per pound. During December, Garland bought 4400 pounds of plastic at $0.77 per pound, and used 4000 pounds in the production of 1300 finished units of product. What is the direct materials purchase price variance for the month of December? Please indicate an unfavorable or favorable variance with "u" or "Y", respectively, NewTone,...
Direct Labor Variances Bellingham Company produces a product that requires 7 standard direct labor hours per...
Direct Labor Variances Bellingham Company produces a product that requires 7 standard direct labor hours per unit at a standard hourly rate of $13.00 per hour. If 2,800 units used 20,400 hours at an hourly rate of $12.74 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance...
(1) Tolton, Inc. is just shy of hitting its operating income target. The manager, K.T. Tolton,...
(1) Tolton, Inc. is just shy of hitting its operating income target. The manager, K.T. Tolton, decides to purchase inferior materials right before year end. The standard price for the materials is $14.00 per pound. K.T. buys 3,000 pounds of inferior product at $11.44 per pound. What is the effect on net income for the year? Please sign an increase as a positive number (e.g. 100) and a decrease as a negative number (e.g. -100). (2) Garland Company uses a...
QUESTION 7 Afirm with a standard costing system budgets 4,000 direct labor hours at $20 per hour to make 2,000 units. The firm actually produced 3,000 units using 7,000 direct labor hours at $24 per hour. When labor occurred during the period, what was the total dollar value of the debit to Work-in-Process Inventory? QUESTIONS 2 points Garland Company uses a standard cost system. The standard for each finished unit of product allows for 3.7 pounds of plastic at $0.71...
QUESTION 9 2 points Elisabeth Company's unadjusted CCOGS for 20X1 was $84,000. They had a $4,000 unfavorable direct labor efficiency variance, a $1,000 favorable direct labor rate variance, a $3,000 unfavorable direct materials purchase price variance, and a $4,000 unfavorable direct materials usage variance. They did not have any overhead variances. What was Elisabeth Company's adjusted COGS amount for 20X1? QUESTION 10 2 points Alex Company manufactures boats in bottles (to sell to rich people who don't have the time...
QUESTION 1 2 points New Tone, Inc makes MP3 players and uses standard costing. They recently used 20,000 labor hours to produce 8,000 units. They originally budgeted 21,000 hours to produce 9,000 units with payroll of $333,000. The company's actual payrol cost amounted to $305,000. What was the direct labor rate variance? Please round to the nearest dollar at the end of your calculations. Also, type "u' for unfavorable or "F for favorable to indicate the direction of the variance....
QUESTION 4 Alex Company manufactures boats in bottles (to sell to rich people who don't have the time to make them themselves). For their standard costing system they allow 5 hours of direct labor per bottle at a wage of $12 per hour. The last batch only took 4.5 hours per bottle. They made 12 bottles. However, they ended up paying employees $12 per hour. What is the standard cost for labor per bottle? (in dollars per bottle) QUESTION 5...
QUESTION 2 2 points Save Afirm with a standard costing system budgets 5,000 direct labor hours at $20 per hours to make 2,000 units. The firm actually produced 2,000 units using 6,000 direct labor hours at $22 per hour. When labor occurred during the period, what was the total dollar value of the credit to wages payable? QUESTION 3 2 points Tolton, Inc. is just shy of hitting its operating income target. The manager. KT. Tolton, decides to purchase inferior...
QUESTION 1 2 p Garland Company uses a standard cost system. The standard for each finished unit of product allows for 3 pounds of plastic at $0.7 per pound. During December, Garland bought 4400 pounds of plastic at $0.77 per pound, and used 4000 pounds in the production of 1300 finished units of product. What is the direct materials purchase price variance for the month of December? Please indicate an unfavorable or favorable variance with "u" or "Y", respectively, NewTone,...
Direct Labor Variances Bellingham Company produces a product that requires 7 standard direct labor hours per unit at a standard hourly rate of $13.00 per hour. If 2,800 units used 20,400 hours at an hourly rate of $12.74 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance...
Most questions answered within 3 hours.
-
Here is a pair of aromatic compounds that each have a complicated
set of aromatic peaks....
asked 13 minutes ago -
As with many public goods, determining the appropriate level of
government support for the production of...
asked 16 minutes ago -
Write a balanced chemical equation for the oxidation reaction
between Caro’s acid (H2SO5) and CN– ion...
asked 19 minutes ago -
Calculate the number of valence electrons for
[Mo(C6H6)(CO)3]
asked 29 minutes ago -
Which of the following are true about the strength of the
association between two variables?
1-...
asked 26 minutes ago -
You are a monopolist and know that your consumers have a linear
demand curve. At what...
asked 25 minutes ago -
Raising a heavy load requires work. Raising it in half the time
requires:
asked 31 minutes ago -
MGT-201: Marketing Management
Before deciding on the structure of the channel marketers must
take several factors...
asked 31 minutes ago -
1. ACLs allow a router to control traffic within a network. The
concept is very similar...
asked 32 minutes ago -
35. When the electron in a hydrogen atom falls from its first
excited energy level to...
asked 34 minutes ago -
A man is dragging a box of mass "m" by using a rope which rests
on...
asked 50 minutes ago -
Liquid octane
(CH3(CH2)6CH3) will
react with gaseous oxygen (O2) to produce gaseous carbon
dioxide (CO2) and...
asked 52 minutes ago