Homework Answers
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Labor efficiency variance = (SH - AH) * SR = (1000*2 - 2500) * 8 = (2000 - 2500) * 8 = 4000 U OPTION A is the answer |
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Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12...
Just need the answer. Solly Corporation produces a product for national distribution. Standards for the product...
Just need the answer.
Solly Corporation produces a product for national distribution. Standards for the product are: Materials: 12 ounces per unit at 60t per ounce. . Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced1 Materials: 14,000 ounces purchased and used at a total cost of $7.700. Labor: 2,500 hours worked at a total cost of $20,625 The labor efficiency variance is: Multiple Choice $4,000 F $4125 F $4125 U $4000...
Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12...
Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12 ounces per unit at 60c per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. • Labor: 2,500 hours worked at a total cost of $20.625. The materials price variance is: Puvo, Inc., manufactures...
Ravena Labs., Inc. makes a single product which has the following standards: Direct materials: 2.5 ounces...
Ravena Labs., Inc. makes a single product which has the following standards: Direct materials: 2.5 ounces at $20 per ounce Direct labor: 1.4 hours at $12.50 per hour Variable manufacturing overhead: 1.4 hours at 3.50 per hour Variable manufacturing overhead is applied on the basis of standard direct labor-hours. The following data are available for October: • 3,750 units of compound were produced during the month. • There was no beginning direct materials inventory. • Direct materials purchased: 12,000 ounces...
Sharp Company manufactures a product for which the following standards have been set: Standard Qu...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 3 feet $ 5 per foot $ 15 Direct labor ? hours ? per hour ? During March, the company purchased direct materials at a cost of $45,210, all of which were used in the production of 2,500 units of product. In addition, 4,100 direct labor-hours were worked on the product during the month. The...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price Standard or Hours or Rate Cost 3 feet $5 per foot $ 15 ? hours ? per hour Direct materials Direct labor ? During March, the company purchased direct materials at a cost of $43,335, all of which were used in the production of 2,425 units of product. In addition, 4,000 direct labor-hours were worked on the product during the month. The cost...
Ravena Labs., Inc. makes a single product which has the following standards: Direct materials: 2.5 ounces...
Ravena Labs., Inc. makes a single product which has the following standards: Direct materials: 2.5 ounces at $20 per ounce Direct labor: 1.4 hours at $12.50 per hour Variable manufacturing overhead: 1.4 hours at 3.50 per hour Variable manufacturing overhead is applied on the basis of standard direct labor-hours. The following data are available for October: 3,750 units of compound were produced during the month. There was no beginning direct materials inventory. Direct materials purchased: 12,000 ounces for $225,000. The...
Sharp Company manufactures a product for which the following standards have been set: Direct materials Direct...
Sharp Company manufactures a product for which the following standards have been set: Direct materials Direct labor Standard Quantity Standard Price Standard or Hours or Rate Cost 3 feet $5 per foot $ 15 7 hours ? per hour During March, the company purchased direct materials at a cost of $44,160, all of which were used in the production of 2,350 units of product. In addition, 4,800 direct labor-hours were worked on the product during the month. The cost of...
The following direct labor standards have been established for a particular product: Standard labor rate .......................... ...
The following direct labor standards have been established for a particular product: Standard labor rate .......................... $15.00 per hour Standard labor hours per unit............. 0.5 hours per unit The following actual data has occurred: Actual products manufactured................. 4,000 units Actual hours worked................................. 2,500 hours Actual total labor cost................................. $35,000 Using a "goalpost" like we did in class, answer the following questions, making sure to indicate if the variance is favorable or unfavorable. You do not have to type in a...
Talia Company produces a single product. The company has set standards as follows for materials and...
Talia Company produces a single product. The company has set
standards as follows for materials and labour:
Direct Materials
Direct Labour
Standard quantity or hours per unit
? kilograms
1.25 hours
Standard price or rate.
? per kilogram
$
10 per hour
Standard cost per unit
?
$
11.25
During the past month, the company purchased 3,000 kilograms of
direct materials at a cost of $8,250. All of this material was used
in the production of 700 units of product....
Talia Company produces a single product. The company has set standards as follows for materials and...
Talia Company produces a single product. The company has set
standards as follows for materials and labour:
Direct Materials
Direct Labour
Standard quantity or hours per unit
? kilograms
1.25 hours
Standard price or rate.
? per kilogram
$
10 per hour
Standard cost per unit
?
$
11.25
During the past month, the company purchased 3,000 kilograms of
direct materials at a cost of $8,250. All of this material was used
in the production of 700 units of product....
Just need the answer.
Solly Corporation produces a product for national distribution. Standards for the product are: Materials: 12 ounces per unit at 60t per ounce. . Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced1 Materials: 14,000 ounces purchased and used at a total cost of $7.700. Labor: 2,500 hours worked at a total cost of $20,625 The labor efficiency variance is: Multiple Choice $4,000 F $4125 F $4125 U $4000...
Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12 ounces per unit at 60c per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. • Labor: 2,500 hours worked at a total cost of $20.625. The materials price variance is: Puvo, Inc., manufactures...
Ravena Labs., Inc. makes a single product which has the following standards: Direct materials: 2.5 ounces at $20 per ounce Direct labor: 1.4 hours at $12.50 per hour Variable manufacturing overhead: 1.4 hours at 3.50 per hour Variable manufacturing overhead is applied on the basis of standard direct labor-hours. The following data are available for October: • 3,750 units of compound were produced during the month. • There was no beginning direct materials inventory. • Direct materials purchased: 12,000 ounces...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price Standard or Hours or Rate Cost 3 feet $5 per foot $ 15 ? hours ? per hour Direct materials Direct labor ? During March, the company purchased direct materials at a cost of $43,335, all of which were used in the production of 2,425 units of product. In addition, 4,000 direct labor-hours were worked on the product during the month. The cost...
Sharp Company manufactures a product for which the following standards have been set: Direct materials Direct labor Standard Quantity Standard Price Standard or Hours or Rate Cost 3 feet $5 per foot $ 15 7 hours ? per hour During March, the company purchased direct materials at a cost of $44,160, all of which were used in the production of 2,350 units of product. In addition, 4,800 direct labor-hours were worked on the product during the month. The cost of...
Talia Company produces a single product. The company has set
standards as follows for materials and labour:
Direct Materials
Direct Labour
Standard quantity or hours per unit
? kilograms
1.25 hours
Standard price or rate.
? per kilogram
$
10 per hour
Standard cost per unit
?
$
11.25
During the past month, the company purchased 3,000 kilograms of
direct materials at a cost of $8,250. All of this material was used
in the production of 700 units of product....
Talia Company produces a single product. The company has set
standards as follows for materials and labour:
Direct Materials
Direct Labour
Standard quantity or hours per unit
? kilograms
1.25 hours
Standard price or rate.
? per kilogram
$
10 per hour
Standard cost per unit
?
$
11.25
During the past month, the company purchased 3,000 kilograms of
direct materials at a cost of $8,250. All of this material was used
in the production of 700 units of product....
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