1 | |||
Standard costs | |||
Direct material | 83640 | =8200*10.20 | |
Direct labor | 498560 | =8200*60.80 | |
Total standard production costs | 582200 | ||
2 | |||
Direct material price variance | 2430 | U | =24300*(3.5-3.4) |
Direct material quantity variance | 1020 | F | =3.4*(24300-8200*3) |
Direct material purchase price variance | 2700 | U | =27000*(3.5-3.4) |
Direct labor rate variance | 10050 | F | =33500*(14.9-15.2) |
Direct labor efficiency variance | 10640 | U | =15.2*(33500-8200*4) |
New Jersey Valve Company manufactured 8,200 units during January of a control valve used by milk...
New Jersey Valve Company manufactured 8,300 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following: Direct labor 34,100 hr. at $14.80 per hr. Direct material purchased 29,000 lb. at $3.20 per lb. Direct material used 24,600 lb. The control valve has the following standard prime costs: Direct material 3 lb. at $3.10 per lb. $ 9.30 Direct labor 4 hr. at $15.20 per hr. 60.80 Standard prime cost per unit...
New Jersey Valve Company manufactured 7,000 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following: Direct labor 36,100 hr. at $14.70 per hr. Direct material purchased 28,000 lb. at $2.20 per lb. Direct material used 26,000 lb. The control valve has the following standard prime costs: Direct material 4 lb. at $2.10 per lb. $ 8.40 Direct labor 5 hr. at $15.10 per hr. 75.50 Standard prime cost...
New Jersey Valve Company manufactured 7,600 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following: Direct labor Direct material purchased Direct material used 46,800 hr. at $15.20 per hr. 29,000 lb. at $2.40 per lb. 28, 300 lb. The control valve has the following standard prime costs: Direct material 4 lb. at $2.30 per lb. Direct labor 6 hr. at $15.60 per hr. Standard prime cost per unit $ 9.20...
New Jersey Valve Company manufactured 8,000 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following: Direct labor Direct material purchased Direct material used 33, 100 hr. at $14.10 per hr. 25,000 lb. at $2.40 per lb. 23,500 lb. The control valve has the following standard prime costs: Direct material 3 lb. at $2.30 per lb. Direct labor 4 hr. at $14.50 per hr. Standard prime cost per unit $ 6.90...
New Jersey Valve Company manufactured 8,300 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following: Direct labor Direct material purchased Direct material used 34,100 hr. at $14.80 per hr. 29,000 lb. at $3.20 per lb. 24,600 lb. The control valve has the following standard prime costs: Direct material 3 lb. at $3.10 per lb. Direct labor 4 hr. at $15.20 per hr. Standard prime cost per unit $ 9.30 60.80...
New Jersey Valve Company manufactured 7,600 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following: Direct labor Direct material purchased Direct material used 46,800 hr. at $15.20 per hr. 29,000 lb. at $2.40 per lb 28,300 lb The control valve has the following standard prime costs: Direct material Direct labor 4 lb. at $2.30 per lb. 6 hr. at $15.60 per hr $ 9.20 93,60 $102.80 Standard prime cost per...
During May, Joliet Fabrics Corporation manufactured 650 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May. Direct material purchased: 19,500 yards at $1.53 per yard $ 29,835 Direct material used: 11,000 yards at $1.53 per yard 16,830 Direct labor: 3,600 hours at $9.30 per hour 33,480 The standard prime costs for one unit of Stylex are as follows: Direct material: 20 yards at $1.50 per yard...
During May, Joliet Fabrics Corporation manufactured 560 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May. Direct material purchased: 18,600 yards at $1.44 per yard Direct material used: 10,100 yards at $1.44 per yard Direct labor: 2,700 hours at $9.21 per hour $ 26,784 14,544 24,867 The standard prime costs for one unit of Stylex are as follows: Direct material: 20 yards at $1.41 per yard...
During May, Joliet Fabrics Corporation manufactured 570 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May. Direct material purchased: 18,700 yards at $1.45 per yard Direct material used: 10,200 yards at $1.45 per yard Direct labor: 2,800 hours at $9.22 per hour $ 27,115 14,790 25,816 The standard prime costs for one unit of Stylex are as follows: Direct material: 20 yards at $1.42 per yard...
During May, Joliet Fabrics Corporation manufactured 600 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May. Direct material purchased: 19,000 yards at $1.48 per yard Direct material used: 10,500 yards at $1.48 per yard Direct labor: 3,100 hours at $9.25 per hour $ 28,120 15,540 28,675 The standard prime costs for one unit of Stylex are as follows Direct material: 20 yards at $1.45 per yard...