Homework Answers
| Actual quantity | AQ | |||
| Actual Price | AP | 2.127179487 | ||
| Standard price | SP | |||
| Standard Quantity | SQ | |||
| Actual Cost | Actual quantity at standard price | Standard cost | ||
| AQ*AP | AQ*SP | SQ*SP | ||
| 19500*2 | 5000*4*2 | |||
| 41480 | 39000 | 40000 | ||
| Material price variance | Material Efficiency variance | |||
| Difference 41480-39000 = 2480 U | 40000-39000=1000F | |||
| 5 | Material price variance | 2480 | ||
| 6 | As actual price is more than actual quantity at standard price so | Unfavorable | ||
| 7 | Material Efficiency variance | 1000 | ||
| 8 | As standard cost is more than actual quantity at standard price | Favorable | ||
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DUSLS The budget was to manufacture and sell 5,200 units Direct...
NU Elticiency Variances Simon Company had the following information ng information available: Budgeted Costs The budget...
NU Elticiency Variances Simon Company had the following information ng information available: Budgeted Costs The budget was to manufacture and sell 5,- ufacture and sell 5,200 units Direct Materials: 4 pounds per unit @ $2.00 per po Direct Labor: 1.5 hours per units @ $15 per nou $2.00 per pound and had the following costs: Direct Materials: 19.500 pounds that cost $41,480 Direct Labor: 8,000 hours that cost $118,900 Required 1. Calculate the amount actually spent on direct materials 2....
please provide a detailed explanation. thank you Simon Company had the following information available: Budgeted Costs...
please provide a detailed explanation. thank you
Simon Company had the following information available: Budgeted Costs The budget was to manufacture and sell 5,200 units Direct Materials: 4 pounds per unit @ $2.00 per pound Direct Labor: 1.5 hours per units @ $15 per hour The company sold 5,000 units and had the following costs: Direct Materials: 19,500 pounds that cost $41,490 Direct Labor: 8,000 hours that cost $118,900 Required 13. Price Variance on Direct Labor 14. Price Variance -...
please provide an explanation. thank you Budgeted Costs The budget was to manufacture and sell 6,200...
please provide an explanation. thank you
Budgeted Costs The budget was to manufacture and sell 6,200 units Direct Materials: 4 pounds per unit @ $2.00 per pound Direct Labor: 1.5 hours per units @ $15 per hour The company sold 5,000 units and had the following costs: Direct Materials: 19,500 pounds that cost $41480 Direct Labor 8.000 hours that cost $118.900 9. Actual Cost of Direct Labor 10. Flexible Budget for Direct Labor 11. Flexible Budget Variance for Direct Labor...
Use the following information to answer questions 5 through 8: Actual results Budget data 20,000 units...
Use the following information to answer questions 5 through 8: Actual results Budget data 20,000 units produced and sold 19,000 units planned $1,806,700 $90 Direct materials: 62,300 units of input purchased and used @ $29 per input unit - 2.575 Direct labor: 51,500 hours used per output unit @ $21.50 per hour Direct materials: 3 units of input allowed per output unit @ $30 per input unit 47,500 Direct labor: 2.5 hours of input allowed per output unit @ $20...
The following data were drawn from the records of Perez Corporation. Planned volume for year (static budget) Standard d...
The following data were drawn from the records of Perez Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 3,400 units 3.50 pounds @ $1.50 per pound 2.30 hours @ $3.30 per hour $14,620 3,900 units 3.10 pounds @ $2.00 per...
0 Data Table lices, and standard unit jes of famous histo mount of resource ata.) met...
0 Data Table lices, and standard unit jes of famous histo mount of resource ata.) met data.) Expected production and sales Expected selling price per unit Total fixed costs $ $ 7,000 units 680 1,400,000 me variance and fi Data Table Direct materials Direct manufacturing labor Standard Quantity 10 pounds 3.7 hours Standard Price 58 per pound $50 per hour Standard Unit Cost $80 $185 During 2017, actual number of units produced and sold was 4,800, at an average selling...
Direct Material Variances Goldman, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantit...
Direct Material Variances Goldman, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is 0.7 pounds per glass at the cost of $0.35 per pound. The actual result for one month’s production of 6,950 glasses was 1.3 pounds per glass, at the cost of $0.45 per pound. Calculate the direct materials cost variance and the direct materials efficiency variance. Direct Labour Variances Goldman, Inc. manufactures lead crystal glasses. The standard direct labor time is 0.5 hours...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7. 10 pounds 0.20 hours Standard Price or Rate $ 1. 80 per pound $12.00 per hour Standard Cost $12.78 $ 2.40 Direct materials Direct labor During the most recent month, the following activity was recorded: a. Nineteen thousand two hundred and fifity pounds of material were purchased at a cost...
Exercise 10-6 Direct Materials and Direct Labor Variances (LO10-1, LO10-2) Huron Company produces a commercial cleaning...
Exercise 10-6 Direct Materials and Direct Labor Variances (LO10-1, LO10-2) Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.10 pounds 0.20 hours Standard Price or Rate $ 1.80 per pound $12.00 per hour Standard Cost $12.78 $ 2.40 Direct materials Direct labor During the most recent month, the following activity was recorded: a. 19,250.00 pounds of material were purchased...
Exercise 10-6 Direct Materials and Direct Labor Variances (LO10-1, LO10-2) Huron Company produces a commercial cleaning...
Exercise 10-6 Direct Materials and Direct Labor Variances (LO10-1, LO10-2) Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.10 pounds 0.20 hours Standard Price or Rate $ 1.80 per pound $12.00 per hour Standard Cost $12.78 $ 2.40 Direct materials Direct labor During the most recent month, the following activity was recorded: a. 19,250.00 pounds of material were purchased...
NU Elticiency Variances Simon Company had the following information ng information available: Budgeted Costs The budget was to manufacture and sell 5,- ufacture and sell 5,200 units Direct Materials: 4 pounds per unit @ $2.00 per po Direct Labor: 1.5 hours per units @ $15 per nou $2.00 per pound and had the following costs: Direct Materials: 19.500 pounds that cost $41,480 Direct Labor: 8,000 hours that cost $118,900 Required 1. Calculate the amount actually spent on direct materials 2....
please provide a detailed explanation. thank you
Simon Company had the following information available: Budgeted Costs The budget was to manufacture and sell 5,200 units Direct Materials: 4 pounds per unit @ $2.00 per pound Direct Labor: 1.5 hours per units @ $15 per hour The company sold 5,000 units and had the following costs: Direct Materials: 19,500 pounds that cost $41,490 Direct Labor: 8,000 hours that cost $118,900 Required 13. Price Variance on Direct Labor 14. Price Variance -...
please provide an explanation. thank you
Budgeted Costs The budget was to manufacture and sell 6,200 units Direct Materials: 4 pounds per unit @ $2.00 per pound Direct Labor: 1.5 hours per units @ $15 per hour The company sold 5,000 units and had the following costs: Direct Materials: 19,500 pounds that cost $41480 Direct Labor 8.000 hours that cost $118.900 9. Actual Cost of Direct Labor 10. Flexible Budget for Direct Labor 11. Flexible Budget Variance for Direct Labor...
Use the following information to answer questions 5 through 8: Actual results Budget data 20,000 units produced and sold 19,000 units planned $1,806,700 $90 Direct materials: 62,300 units of input purchased and used @ $29 per input unit - 2.575 Direct labor: 51,500 hours used per output unit @ $21.50 per hour Direct materials: 3 units of input allowed per output unit @ $30 per input unit 47,500 Direct labor: 2.5 hours of input allowed per output unit @ $20...
The following data were drawn from the records of Perez Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 3,400 units 3.50 pounds @ $1.50 per pound 2.30 hours @ $3.30 per hour $14,620 3,900 units 3.10 pounds @ $2.00 per...
0 Data Table lices, and standard unit jes of famous histo mount of resource ata.) met data.) Expected production and sales Expected selling price per unit Total fixed costs $ $ 7,000 units 680 1,400,000 me variance and fi Data Table Direct materials Direct manufacturing labor Standard Quantity 10 pounds 3.7 hours Standard Price 58 per pound $50 per hour Standard Unit Cost $80 $185 During 2017, actual number of units produced and sold was 4,800, at an average selling...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7. 10 pounds 0.20 hours Standard Price or Rate $ 1. 80 per pound $12.00 per hour Standard Cost $12.78 $ 2.40 Direct materials Direct labor During the most recent month, the following activity was recorded: a. Nineteen thousand two hundred and fifity pounds of material were purchased at a cost...
Exercise 10-6 Direct Materials and Direct Labor Variances (LO10-1, LO10-2) Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.10 pounds 0.20 hours Standard Price or Rate $ 1.80 per pound $12.00 per hour Standard Cost $12.78 $ 2.40 Direct materials Direct labor During the most recent month, the following activity was recorded: a. 19,250.00 pounds of material were purchased...
Exercise 10-6 Direct Materials and Direct Labor Variances (LO10-1, LO10-2) Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.10 pounds 0.20 hours Standard Price or Rate $ 1.80 per pound $12.00 per hour Standard Cost $12.78 $ 2.40 Direct materials Direct labor During the most recent month, the following activity was recorded: a. 19,250.00 pounds of material were purchased...
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