Exercise 23-15
Urban Corporation prepared the following variance report.
Fill in the missing amounts or letters in the report.
(Round actual and standard price answers to 2 decimal
places, e.g. 2.75.)
|
URBAN CORPORATION |
||||||||||||
|
Type of |
Quantity |
Actual |
Standard |
Price |
|
|||||||
| Rogue11 |
|
lbs. | $5.15 | $5.05 | $2,870 |
|
Price increase | |||||
| Storm17 | 7,000 | oz. | $
|
$3.22 | $910 | Unfavorable | Rush order | |||||
| Beast29 | 21,700 | units | $0.35 | $
|
$434 | Favorable | Bought larger quantity | |||||
Homework Answers
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Exercise 23-15
Urban Corporation prepared the following variance report.
Fill in the missing amounts or letters...
CALCULATOR PRINTER VERSION BACKENDE Exercise 23-15 Urban Corporation prepared the following variance report. Fill in the...
CALCULATOR PRINTER VERSION BACKENDE Exercise 23-15 Urban Corporation prepared the following variance report. Fill in the missing amounts or letters in the report. (Round actual and standard price answers to 2 decimales URBAN CORPORATION Variance Report-Purchasing Department For Week Ended January 9, 2017 Quantity Actual Standard Price Materials . 2.75.) Rogue11 Explanation $5.20 $4.95 16,700 Storm17 7,800 O S $3.22 $1,404 Unfavorable Beast29 22,100 units $884 Favorable Bought larger quantity Click If you would like to Show Work for this...
Exercise 23-15 Your answer is partially correct. Try again. Urban Corporation prepared the following variance report....
Exercise 23-15 Your answer is partially correct. Try again. Urban Corporation prepared the following variance report. Fill in the missing amounts or letters in the report. (Round actual and standard price answers to 2 decimal places, e.g. 2.75.) URBAN CORPORATION Variance Report-Purchasing Department For Week Ended January 9, 2017 Type of Materials Quantity Purchased Actual Price Standard Price Price Variance Explanation Rogue11 955 lbs. $5.15 $4.95 $4,920 Favorable Price increase Storm17 6,700 oz. 5.56 $3.27 $1,206 Unfavorable Rush order Beast29...
Exercise 223 Fill in the appropriate amounts in the following Adam Corporation variance report. Exercise 223 Fill in the appropriate amounts in the following Adam Corporation variance report. (Round...
Exercise 223
Fill in the appropriate amounts in the following Adam
Corporation variance report.
Exercise 223 Fill in the appropriate amounts in the following Adam Corporation variance report. (Round actual and standard price to 2 decimal places, e.g. 52.75.) ADAM CORPORATION for Week Ended January 9, 2016 Type of Materials Actual Price Standard Price Quantity Purchased Price Variance Explanation $5.00 $6,000 Brown $5.25 Price increase Rush order Bought larger quantity lbs. 8,000 oz. 22,000 units 1,600 Unfavorable Green 3.25 White...
Exercise 23-10 During March 2017, Toby Tool & Die Company worked on four jobs. A review...
Exercise 23-10
During March 2017, Toby Tool & Die Company worked on four
jobs. A review of direct labor costs reveals the following summary
data.
Actual
Standard
Job Number
Hours
Costs
Hours
Costs
Total Variance
A257
210
$4,410
216
$4,536
$126
F
A258
430
10,320
410
8,610
1,710
U
A259
300
6,660
298
6,258
402
U
A260
120
2,280
115
2,415
135
F
Total variance
$1,851
U
Analysis reveals that Job A257 was a repeat job. Job A258 was a...
Brief Exercise 23-5 Mordica Company’s standard labor cost per unit of output is $20.14 (1.90 hours...
Brief Exercise 23-5
Mordica Company’s standard labor cost per unit of output is
$20.14 (1.90 hours x $10.60 per hour). During August, the company
incurs 2,581 hours of direct labor at an hourly cost of $10.71 per
hour in making 1,300 units of finished product.
Compute the total, price, and quantity labor variances.
(Round answers to 2 decimal places, e.g.
52.75.)
Total labor variance
$
FavorableNeither favorable nor unfavorableUnfavorable
Labor price variance
$
UnfavorableNeither favorable nor unfavorableFavorable
Labor quantity variance...
We were unable to transcribe this imageWe were unable to transcribe this image(b) Prepare a variance...
We were unable to transcribe this imageWe were unable to transcribe this image(b) Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, e.g. 1.25.) PICARD LANDSCAPING Variance Report - Production Department For the Current Month Actual Pounds Project Standard Price Per Pound Standard Pounds Quantity Variance Remington Unfavorable Chang Favorable Wyco Unfavorable Total quantity variance Unfavorable
FlowerMate is a manufacturer of large flower pots for urban settings. The company has these standards:...
FlowerMate is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) E: (Click the icon to view the actual results.) Requirements 1. Compute the direct material price variance and the direct material quantity variance. 2. Who is generally responsible for each variance? 3. Interpret the variances. Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive numbers. Enter currency...
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 23-12 Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost...
Exercise 23-12
Byrd Company produces one product, a putter called GO-Putter.
Byrd uses a standard cost system and determines that it should take
one hour of direct labor to produce one GO-Putter. The normal
production capacity for this putter is 100,000 units per year. The
total budgeted overhead at normal capacity is $850,000 comprised of
$300,000 of variable costs and $550,000 of fixed costs. Byrd
applies overhead on the basis of direct labor hours.
During the current year, Byrd produced...
Vaughn Corporation manufactures a single product. The standard cost per unit of product is shown below....
Vaughn Corporation manufactures a single product. The standard
cost per unit of product is shown below.
Direct materials—1 pound plastic at $7.00 per pound
$ 7.00
Direct labor—1.5 hours at $11.10 per hour
16.65
Variable manufacturing overhead
11.25
Fixed manufacturing overhead
6.75
Total standard cost per unit
$41.65
The predetermined manufacturing overhead rate is $12.00 per direct
labor hour ($18.00 ÷ 1.5). It was computed from a master
manufacturing overhead budget based on normal production of 8,850
direct labor hours...
CALCULATOR PRINTER VERSION BACKENDE Exercise 23-15 Urban Corporation prepared the following variance report. Fill in the missing amounts or letters in the report. (Round actual and standard price answers to 2 decimales URBAN CORPORATION Variance Report-Purchasing Department For Week Ended January 9, 2017 Quantity Actual Standard Price Materials . 2.75.) Rogue11 Explanation $5.20 $4.95 16,700 Storm17 7,800 O S $3.22 $1,404 Unfavorable Beast29 22,100 units $884 Favorable Bought larger quantity Click If you would like to Show Work for this...
Exercise 23-15 Your answer is partially correct. Try again. Urban Corporation prepared the following variance report. Fill in the missing amounts or letters in the report. (Round actual and standard price answers to 2 decimal places, e.g. 2.75.) URBAN CORPORATION Variance Report-Purchasing Department For Week Ended January 9, 2017 Type of Materials Quantity Purchased Actual Price Standard Price Price Variance Explanation Rogue11 955 lbs. $5.15 $4.95 $4,920 Favorable Price increase Storm17 6,700 oz. 5.56 $3.27 $1,206 Unfavorable Rush order Beast29...
Exercise 223
Fill in the appropriate amounts in the following Adam
Corporation variance report.
Exercise 223 Fill in the appropriate amounts in the following Adam Corporation variance report. (Round actual and standard price to 2 decimal places, e.g. 52.75.) ADAM CORPORATION for Week Ended January 9, 2016 Type of Materials Actual Price Standard Price Quantity Purchased Price Variance Explanation $5.00 $6,000 Brown $5.25 Price increase Rush order Bought larger quantity lbs. 8,000 oz. 22,000 units 1,600 Unfavorable Green 3.25 White...
Exercise 23-10
During March 2017, Toby Tool & Die Company worked on four
jobs. A review of direct labor costs reveals the following summary
data.
Actual
Standard
Job Number
Hours
Costs
Hours
Costs
Total Variance
A257
210
$4,410
216
$4,536
$126
F
A258
430
10,320
410
8,610
1,710
U
A259
300
6,660
298
6,258
402
U
A260
120
2,280
115
2,415
135
F
Total variance
$1,851
U
Analysis reveals that Job A257 was a repeat job. Job A258 was a...
Brief Exercise 23-5
Mordica Company’s standard labor cost per unit of output is
$20.14 (1.90 hours x $10.60 per hour). During August, the company
incurs 2,581 hours of direct labor at an hourly cost of $10.71 per
hour in making 1,300 units of finished product.
Compute the total, price, and quantity labor variances.
(Round answers to 2 decimal places, e.g.
52.75.)
Total labor variance
$
FavorableNeither favorable nor unfavorableUnfavorable
Labor price variance
$
UnfavorableNeither favorable nor unfavorableFavorable
Labor quantity variance...
We were unable to transcribe this imageWe were unable to transcribe this image(b) Prepare a variance report for the production department. (Round standard price per pound to 2 decimal places, e.g. 1.25.) PICARD LANDSCAPING Variance Report - Production Department For the Current Month Actual Pounds Project Standard Price Per Pound Standard Pounds Quantity Variance Remington Unfavorable Chang Favorable Wyco Unfavorable Total quantity variance Unfavorable
FlowerMate is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) E: (Click the icon to view the actual results.) Requirements 1. Compute the direct material price variance and the direct material quantity variance. 2. Who is generally responsible for each variance? 3. Interpret the variances. Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive numbers. Enter currency...
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 23-12
Byrd Company produces one product, a putter called GO-Putter.
Byrd uses a standard cost system and determines that it should take
one hour of direct labor to produce one GO-Putter. The normal
production capacity for this putter is 100,000 units per year. The
total budgeted overhead at normal capacity is $850,000 comprised of
$300,000 of variable costs and $550,000 of fixed costs. Byrd
applies overhead on the basis of direct labor hours.
During the current year, Byrd produced...
Vaughn Corporation manufactures a single product. The standard
cost per unit of product is shown below.
Direct materials—1 pound plastic at $7.00 per pound
$ 7.00
Direct labor—1.5 hours at $11.10 per hour
16.65
Variable manufacturing overhead
11.25
Fixed manufacturing overhead
6.75
Total standard cost per unit
$41.65
The predetermined manufacturing overhead rate is $12.00 per direct
labor hour ($18.00 ÷ 1.5). It was computed from a master
manufacturing overhead budget based on normal production of 8,850
direct labor hours...
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