Homework Answers
The given questions deal with Sales Variances, Variable Overhead Variances and Labor Variances
The students would be required to memorize the variance formulas
for exam purposes (using a self made chart/table is
recommended)![Actual Quantity Sold [AO] = 50 trucks Actual Price [AP] = $18000 each Budgeted Quantities to be sold [sa] = 45 trucks Standar](http://img.homeworklib.com/questions/7282ef20-7154-11ea-8d9a-fb9c0ee0f0ce.png?x-oss-process=image/resize,w_560)
![Actual Variable Overhead = $ 153000 Actual authut = 7500 units - [fo] Actual his = 31000 hrs - CAH Standard hrs = 7500 units](http://img.homeworklib.com/questions/7328e8e0-7154-11ea-92fe-1bf75880d0f8.png?x-oss-process=image/resize,w_560)
![€ Actual labor Hrs = 1200 [ AH] Actual labor rate her her = $8.70 [AR] Standard labor hrs = 1300 [SH] Standard labor rate her](http://img.homeworklib.com/questions/73d5ee40-7154-11ea-9dd3-b3ae12d45688.png?x-oss-process=image/resize,w_560)
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Need help with QS, 1,2,3 with explaination please! ?
1) Butte Truck Company specializes in selling...
NEED HELP ASAP PLEASE Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant....
NEED HELP ASAP PLEASE
Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below: Flexible Budget Actual $ 179,000 $ 179,000 Sales (3,000 pools) Variable expenses: Variable cost of goods sold* Variable selling expenses Total variable expenses Contribution margin Fixed expenses: Manufacturing overhead Selling and administrative Total fixed expenses Net operating income (loss) 33,390 11,000 44,390 134,610 44,540 11,000 55,540 123,460 50,000...
Need help with this question. correct answers please feel free to take your time. please help...
need help with this question. correct answers please feel free
to take your time.
please help thanks:)
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May Standard Cost per Actual Cost per Unit Unit Direct materials: standard: 1.90 feet at $4.80 per foot Actual: 1.85 feet at $5.20 per foot 9.12 $9.62 Direct labor: standard: 1.45 hours at $20.00 per hour Actual: 1.50 hours...
Downton Company manufactures two products, Abby and Mansion. The company prepares its master budget on the...
Downton Company manufactures two products, Abby and Mansion. The company prepares its master budget on the basis of standard costs. The following data are for January: Standards Abby Mansion Direct materials 3 ounces at $14.50 per ounce 4 ounces at $17.30 per ounce Direct labor 5 hours at $60.50 per hour 6 hours at $81.00 per hour Variable overhead (per direct labor-hour) $48.00 $53.50 Fixed overhead (per month) $368,068 $399,360 Expected activity (direct labor-hours) 6,680 7,800 Actual results Direct material...
The High Spirits Company, a maker of Halloween novelties, needs your help immediately. The company accountant resigned without leaving adequate records or explanations for the data collected. In revie...
The High Spirits Company, a maker of Halloween novelties, needs your help immediately. The company accountant resigned without leaving adequate records or explanations for the data collected. In reviewing the records for one product line, you find the following information for last month: Materials purchased 20,000 units @ $.60 each Materials used 15,000 units Direct labor costs incurred $36,000 Variable overhead costs incurred $ 6,675 Actual fixed overhead $ 7,200 Completed units 7,000 You learn that the standards for the...
help asap please Actual cost and operating data from the most recent month are as follows: EE (Click the loon t...
help asap please
Actual cost and operating data from the most recent month are as follows: EE (Click the loon to view the actual rosults) All manufacturing overhead is allocated on the basis of direct labor hours Pratt Awning manufactures awnings and uses a standard cost systom. The company allocatos overhoed based on the number of direct labor hours. The following are the company's cost and standards data: Read the requirements Requirement 1. Caloulate the standard cost of one awning...
Ceramics Etc. is a manufacturer of large flower pots for urban settings. The company has these...
Ceramics Etc. is a manufacturer of large flower pots for urban
settings. The company has these standards:
i Standard Price and Volume Direct materials (resin) 12 pounds per pot at a cost of $3.00 per pound 2.0 hours at a cost of $15.00 per hour Direct labor Standard variable manufacturing overhead rate $3.00 per direct labor hour Budgeted fixed manufacturing overhead $27,400 $8.00 per direct labor hour (DLH) Standard fixed MOH rate - X Actual Results Ceramics Etc. allocated fixed...
need help with the journal Materials Direct Materials Price Variance Direct materials (5 lbs. @ $2.60)...
need help with the journal
Materials Direct Materials Price Variance Direct materials (5 lbs. @ $2.60) Accounts Payable $13.00 Work in Process Direct labor (0.75 hr. @ $18.00) 13.50 Direct Materials Usage Variance Materials Fixed overhead (0.75 hr. @ $4.00) 3.00 Variable overhead (0.75 hr. @ $3.00) 2.25 Work in Process Direct Labor Efficiency Variance Direct Labor Rate Variance Wages Payable Standard cost per unit $31.75 Work in Process Variable Overhead Control Fixed Overhead Control Algers computes its overhead rates...
managerial accounting, please help Versailles Company produces a product that relies on a standard cost system...
managerial accounting, please help
Versailles Company produces a product that relies on a standard cost system for planning and control. The following are the standards for producing one unit of product. VERSAILLES COMPANY STANDARDS FOR PRODUCTION OF ONE UNIT OF PRODUCT Standard Standard Standard Quantity of Price Cost Input of Input Per Unit Direct Materials 3 units S 10.00 S 30.00 Direct Labor 1.0 hours 8.00 8.00 Variable Manufacturing Overhead 1.0 hours 5.00 5.00 Fixed Manufacturing Overhead 1.0 hours 20.00...
The roofing company manufactures shingles. Standard Cost Sheet per shingle 1.5 pounds $0.07 per pound direct labor Direct materials Asphalt 0.01 hour $11 per hour Direct labor Variable direct la...
The roofing company manufactures shingles. Standard Cost Sheet per shingle 1.5 pounds $0.07 per pound direct labor Direct materials Asphalt 0.01 hour $11 per hour Direct labor Variable direct labor Manufacturing $2 per hour 0.01 hour overhead Fixed direct labor Manufacturing 0.01 hour $10 per hour overhead Total standard cost per shingle $60,000 600,000 Units 6000 direct labor hours Budgeted fixed manufacturing overhead for the period is Budgeted units to be produced Standard fixed manufacturing overhead based on expected capacity...
can you please help me with 1c. variable overhead efficiency variance. thanks Miller Toy Company manufactures...
can you please help me with 1c. variable overhead
efficiency variance. thanks
Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below: Flexible Budget Actual $ 273, 000 $ 273, eee Sales (6,000 pools) Variable expenses: Variable cost of goods sold* Variable selling expenses Total variable expenses Contribution margin Fixed expenses: Manufacturing overhead Selling and administrative Total fixed expenses Net operating income...
NEED HELP ASAP PLEASE
Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below: Flexible Budget Actual $ 179,000 $ 179,000 Sales (3,000 pools) Variable expenses: Variable cost of goods sold* Variable selling expenses Total variable expenses Contribution margin Fixed expenses: Manufacturing overhead Selling and administrative Total fixed expenses Net operating income (loss) 33,390 11,000 44,390 134,610 44,540 11,000 55,540 123,460 50,000...
need help with this question. correct answers please feel free
to take your time.
please help thanks:)
Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May Standard Cost per Actual Cost per Unit Unit Direct materials: standard: 1.90 feet at $4.80 per foot Actual: 1.85 feet at $5.20 per foot 9.12 $9.62 Direct labor: standard: 1.45 hours at $20.00 per hour Actual: 1.50 hours...
help asap please
Actual cost and operating data from the most recent month are as follows: EE (Click the loon to view the actual rosults) All manufacturing overhead is allocated on the basis of direct labor hours Pratt Awning manufactures awnings and uses a standard cost systom. The company allocatos overhoed based on the number of direct labor hours. The following are the company's cost and standards data: Read the requirements Requirement 1. Caloulate the standard cost of one awning...
Ceramics Etc. is a manufacturer of large flower pots for urban
settings. The company has these standards:
i Standard Price and Volume Direct materials (resin) 12 pounds per pot at a cost of $3.00 per pound 2.0 hours at a cost of $15.00 per hour Direct labor Standard variable manufacturing overhead rate $3.00 per direct labor hour Budgeted fixed manufacturing overhead $27,400 $8.00 per direct labor hour (DLH) Standard fixed MOH rate - X Actual Results Ceramics Etc. allocated fixed...
need help with the journal
Materials Direct Materials Price Variance Direct materials (5 lbs. @ $2.60) Accounts Payable $13.00 Work in Process Direct labor (0.75 hr. @ $18.00) 13.50 Direct Materials Usage Variance Materials Fixed overhead (0.75 hr. @ $4.00) 3.00 Variable overhead (0.75 hr. @ $3.00) 2.25 Work in Process Direct Labor Efficiency Variance Direct Labor Rate Variance Wages Payable Standard cost per unit $31.75 Work in Process Variable Overhead Control Fixed Overhead Control Algers computes its overhead rates...
managerial accounting, please help
Versailles Company produces a product that relies on a standard cost system for planning and control. The following are the standards for producing one unit of product. VERSAILLES COMPANY STANDARDS FOR PRODUCTION OF ONE UNIT OF PRODUCT Standard Standard Standard Quantity of Price Cost Input of Input Per Unit Direct Materials 3 units S 10.00 S 30.00 Direct Labor 1.0 hours 8.00 8.00 Variable Manufacturing Overhead 1.0 hours 5.00 5.00 Fixed Manufacturing Overhead 1.0 hours 20.00...
The roofing company manufactures shingles. Standard Cost Sheet per shingle 1.5 pounds $0.07 per pound direct labor Direct materials Asphalt 0.01 hour $11 per hour Direct labor Variable direct labor Manufacturing $2 per hour 0.01 hour overhead Fixed direct labor Manufacturing 0.01 hour $10 per hour overhead Total standard cost per shingle $60,000 600,000 Units 6000 direct labor hours Budgeted fixed manufacturing overhead for the period is Budgeted units to be produced Standard fixed manufacturing overhead based on expected capacity...
can you please help me with 1c. variable overhead
efficiency variance. thanks
Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below: Flexible Budget Actual $ 273, 000 $ 273, eee Sales (6,000 pools) Variable expenses: Variable cost of goods sold* Variable selling expenses Total variable expenses Contribution margin Fixed expenses: Manufacturing overhead Selling and administrative Total fixed expenses Net operating income...
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