Homework Answers
| Particulars | Casey Co | Kevin Inc | Jess Company | Valerie Inc |
| Units produced | 2700 | 1600 | 190 | 1000 |
| Standard hours per unit | 4.9 | 1.6 | 3.2 | 12.95 |
| Standard hours | 13230 | 2560 | 608 | 12950 |
| Standard rate per hour | $ 29.2 | $ 13.1 | $ 12 | $ 10 |
| Actual hours worked | 12700 | 2670 | 550 | 13,500 |
| Actual labor cost | $ 366,240 | $ 32,377 | $ 6,800 | $ 88,500 |
| Direct labor rate variance | $ 4600 F | $ 2,600 F | $ 200 U | 46,500 F |
| Direct labor efficiency variance | $ 15,476 F | $ 1,441 A | 696 F | 5,500 U |
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For each of the following independent cases, fill in the missing amounts: (Indicate the effect of...
For each of the following independent cases, fill in the missing amounts: (Indicate the effect of...
For each of the following independent cases, fill in the missing amounts: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. Round your per unit rates to 2 decimal places.) Casey Co. Kevin, Inc. Jess Company 85 Valerie, Inc. 1,000 1,300 2.10 0.60 360 153 13.00 $ $ $ Units produced Standard hours per unit Standard hours Standard rate per hour Actual hours worked Actual labor cost Direct labor rate variance Direct labor efficiency variance...
For each of the following independent cases, fill in the missing amounts: (Indicate the effect of...
For each of the following independent cases, fill in the missing amounts: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. Round your per unit rates to 2 decimal places.) Kevin, Inc. Jess Company Valerie, Inc. Casey Co. 2,400 4.30 160 1,000 1.30 1,690 464 11.00 $ $ $ Units produced Standard hours per unit Standard hours Standard rate per hour Actual hours worked Actual labor cost Direct labor rate variance Direct labor efficiency variance...
For each of the following independent cases, fill in the missing amounts: (Indicate the effect of...
For each of the following independent cases, fill in the missing amounts: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. Round your per unit rates to 2 decimal places.) Kevin, Inc. Jess Company Casey Co. 1,600 2.30 Valerie, Inc. 1,000 100 0.70 490 S 210 20.00 $ S Units produced Standard hours per unit Standard hours Standard rate per hour Actual hours worked Actual labor cost Direct labor rate variance Direct labor efficiency variance...
For each of the following independent cases, fill in the missing amounts in the table: (Indicate...
For each of the following independent cases, fill in the missing amounts in the table: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). caca Direct Labor Rate Variance Direct Labor Efficiency Direct Labor Spending Variance Variance $ 1,700 F A B C | D $ $ $ 1,000 U 1,750 F 1,250 F $ $ $ 3,000 U 2,300 F 3,000 U 2,200 U $ $...
For each of the following independent cases, fill in the missing amounts in the table: (Indicate...
For each of the following independent cases, fill in the missing amounts in the table: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Direct Labor Rate Direct Labor Direct Labor Case Variance Efficiency Variance Spending Variance 2,800 F 1,550 U $ $ А 1,900 U 1,200 F $ $ В 3,400 F 1,800 F $ $ C 4,100 U 1,300 U $ $ D 1,900 F 2,750 U $ $ Е 1,950 U 1,450...
Jess Company Valerie Inc Units produced: 220 1,000 Standard Hours per unit: 3.5 Standard Hours: 770 Stand...
Jess Company Valerie Inc Units produced: 220 1,000 Standard Hours per unit: 3.5 Standard Hours: 770 Standard Rate per Hour: 10 10 Actual Hours Worked: 18,900 Actual Labor Cost: 6300 110,000 Direct Labor Rate Variance:400 Direct Labor Efficiency Variance: 6400 Please help me to fill in the blanks of this chart!
1) 2) For each of the following independent cases, fill in the missing amounts in the...
1)
2)
For each of the following independent cases, fill in the missing amounts in the table: (Indicate the effe "F" for favorable, "U" for unfavorable.) Direct Labor Rate Variance Direct Labor Efficiency Variance Spending Variance Case Direct Labor A 800 U $ 1,300 F B 1,950 F 3.400 U $ 1,050 F 1,900 F 2,600 U 550 U D 1,150 F 2,000 U $ 700 U $ 1,200 U FP For each of the following independent cases, fill in...
fill in the missing numbers Consider the following data provided for each of the following independent...
fill in the missing numbers
Consider the following data provided for each of the following independent cases. For each case assume that the business uses a standard cost system and a flexible budget to control variable and fixed manufacturing overhead, and applies manufacturing overhead on the basis of direct labour hours. Fill in the blanks for each case, and indicate whether the variances are favourable (F) or unfavourable (U). Phi Company Pho Company Number of labour hours budgeted $10,600 hrs...
(This information is used for multiple questions) Chase, Inc, makes a product with the following standard...
(This information is used for multiple questions) Chase, Inc, makes a product with the following standard costs: Standard Quanity or Hours Standard Price or Rate Direct materials 9.2 pounds $3.00 per pound Direct labor 0.3 hours $17.00 per hour Variable overhead 0.3 hours $3.00 per hour The company reported the following results concerning this product in April. Actual output 8,800 units Raw materials used in production 78,150 pounds Purchases of raw materials 85,900 pounds Actual direct labor hours 2,560 hours...
Computation of Variances and Other Missing Data
The following data for Bernie Company pertain to the production of 1,000 units of Product X during December. Selected data items are omitted. Fill in the missing amounts.Direct materials (all materials purchased were used during period)Standard cost per unit: Answer pounds at $3.20 per poundTotal actual cost: Answer pounds costing $10,626Standard cost allowed for units produced: $9,600Materials price variance: $AnswerAnswerFUMaterials quantity variance: $704 UDirect laborStandard cost: 2.5 hours at $12.00Actual cost per hour: $12.25Total actual cost: $AnswerLabor rate variance: AnswerAnswerFULabor efficiency variance: $144 FVariable overheadStandard costs: Answer hours at $4.00 per direct labor hourActual cost: $10,600Variable overhead spending variance: $AnswerAnswerFUVariable overhead efficiency variance: $AnswerAnswerFU
For each of the following independent cases, fill in the missing amounts: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. Round your per unit rates to 2 decimal places.) Casey Co. Kevin, Inc. Jess Company 85 Valerie, Inc. 1,000 1,300 2.10 0.60 360 153 13.00 $ $ $ Units produced Standard hours per unit Standard hours Standard rate per hour Actual hours worked Actual labor cost Direct labor rate variance Direct labor efficiency variance...
For each of the following independent cases, fill in the missing amounts: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. Round your per unit rates to 2 decimal places.) Kevin, Inc. Jess Company Valerie, Inc. Casey Co. 2,400 4.30 160 1,000 1.30 1,690 464 11.00 $ $ $ Units produced Standard hours per unit Standard hours Standard rate per hour Actual hours worked Actual labor cost Direct labor rate variance Direct labor efficiency variance...
For each of the following independent cases, fill in the missing amounts: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. Round your per unit rates to 2 decimal places.) Kevin, Inc. Jess Company Casey Co. 1,600 2.30 Valerie, Inc. 1,000 100 0.70 490 S 210 20.00 $ S Units produced Standard hours per unit Standard hours Standard rate per hour Actual hours worked Actual labor cost Direct labor rate variance Direct labor efficiency variance...
For each of the following independent cases, fill in the missing amounts in the table: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). caca Direct Labor Rate Variance Direct Labor Efficiency Direct Labor Spending Variance Variance $ 1,700 F A B C | D $ $ $ 1,000 U 1,750 F 1,250 F $ $ $ 3,000 U 2,300 F 3,000 U 2,200 U $ $...
For each of the following independent cases, fill in the missing amounts in the table: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Direct Labor Rate Direct Labor Direct Labor Case Variance Efficiency Variance Spending Variance 2,800 F 1,550 U $ $ А 1,900 U 1,200 F $ $ В 3,400 F 1,800 F $ $ C 4,100 U 1,300 U $ $ D 1,900 F 2,750 U $ $ Е 1,950 U 1,450...
1)
2)
For each of the following independent cases, fill in the missing amounts in the table: (Indicate the effe "F" for favorable, "U" for unfavorable.) Direct Labor Rate Variance Direct Labor Efficiency Variance Spending Variance Case Direct Labor A 800 U $ 1,300 F B 1,950 F 3.400 U $ 1,050 F 1,900 F 2,600 U 550 U D 1,150 F 2,000 U $ 700 U $ 1,200 U FP For each of the following independent cases, fill in...
fill in the missing numbers
Consider the following data provided for each of the following independent cases. For each case assume that the business uses a standard cost system and a flexible budget to control variable and fixed manufacturing overhead, and applies manufacturing overhead on the basis of direct labour hours. Fill in the blanks for each case, and indicate whether the variances are favourable (F) or unfavourable (U). Phi Company Pho Company Number of labour hours budgeted $10,600 hrs...
(This information is used for multiple questions) Chase, Inc, makes a product with the following standard costs: Standard Quanity or Hours Standard Price or Rate Direct materials 9.2 pounds $3.00 per pound Direct labor 0.3 hours $17.00 per hour Variable overhead 0.3 hours $3.00 per hour The company reported the following results concerning this product in April. Actual output 8,800 units Raw materials used in production 78,150 pounds Purchases of raw materials 85,900 pounds Actual direct labor hours 2,560 hours...
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