Homework Answers
| Data for Resource Variance | |||||||||||||
| Standard | Actual | ||||||||||||
| Quantity/Hrs | Rate | Amount | Quantity/Hrs | Rate | Amount | Variance | Result | ||||||
| Material | 140000 | 1.6 | 224000 | 142000 | 1.55 | 220100 | 3900 | F | |||||
| Labour | 480 | 11.5 | 5520 | 440 | 12.5 | 5500 | 20 | F | |||||
| 229520 | 225600 | ||||||||||||
| Direct material cost variance = (SQ * SR) - (AQ * AR) | |||||||||||||
| = (140000*1.6) - (142000*1.55) | |||||||||||||
| = 3900 Favorable | |||||||||||||
| Here, SR is Standard Rate and AR is Actual of material | |||||||||||||
| Direct LABOUR cost variance = (SLH * SR) - (ALH * AR) | |||||||||||||
| = (480*11.5) - (440*12.5) | |||||||||||||
| = 20 FAVOURABLE | |||||||||||||
| Here, SR is Standard Rate and AR is Actual of labour cost | |||||||||||||
| Here, SLH is Standard Labour Hour and ALH is Actual Labour Hour. | |||||||||||||
| Material efficiency Variance = (Standard quantity - Actual Quantity ) Standard Price | |||||||||||||
| = (140000 - 142000 )1.6 | |||||||||||||
| = 3200 UnFavorable | |||||||||||||
| Labour Efficiency Variance = (Standard Hrs. - Actual Hrs) Standard Rate | |||||||||||||
| = (480 - 440 ) 11.5 | |||||||||||||
| =460 Favorable | |||||||||||||
| 1. Role of Purchase Manager: Purchase manager has done a good job by purchasing material at a cost lower than standard cost. | |||||||||||||
| 2. Role of Production manager: Production manager has not maintained efficiency in material consumption as he used 142000 units for production of 20000 products instead of 140000. However he was successful in maintaing efficiency of labour. | |||||||||||||
| 3. Human Resource Manager: He has failed to appoint labour at a standard cost and appointed at higher rate resulted in excess cost. | |||||||||||||
Add Answer to:
Pro Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 142,000...
Deluxe Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 142,000...
Deluxe Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 142,000 square feet of extruded vinyl purchased at $1.55 per square foot. Production required 440 direct labor hours that cost $16.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.60 per square foot. The labor standard was 0.025 direct labor hour per fender, at a standard cost of $15.50 per hour. Read the requirement....
Best Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 145,000...
Best Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 145,000 square feet of extruded vinyl purchased at $1.15 per square foot. Production required 460 direct labor hours that cost $13.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.20 per square foot. The labor standard was 0.025 direct labor hour per fender, at a standard cost of $12.50 per hour. Read the requirement....
Best Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 145,000...
Best Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 145,000 square feet of extruded vinyl purchased at $1.15 per square foot. Production required 460 direct labor hours that cost $13.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.20 per square foot. The labor standard was 0.025 direct labor hour per fender, at a standard cost of $12.50 per hour. Read the requirement....
All-Star Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 146,000...
All-Star Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 146,000 square feet of extruded vinyl purchased at $1.10 per square foot. Production required 440 direct labor hours that cost $13.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.15 per square foot. The labor standard was 0.027 direct labor hour per fender, at a standard cost of $12.50 per hour. Read the requirement...
Deluxe Fender, which uses a standard costs system, manufactured 20,000 boat fenders during 2018, using 144,000...
Deluxe Fender, which uses a standard costs system, manufactured
20,000 boat fenders during 2018, using 144,000 square feet of
extruded vinyl purchased at $1.15 per square foot. Production
required 440 direct labor hours that cost $14.50 per hour. The
direct materials standard was seven square feet of vinyl per
fender, at a standard cost of $1.20 per square foot. The labor
standard was 0.025 direct labor hour per fender, at a standard cost
of $13.50 per hour.
Please compute the...
Best Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 145,000...
Best Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 145,000 square feet of extruded vinyl purchased at $1.15 per square foot. Production required 460 direct labor hours that cost $13.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.20 per square foot. The labor standard was 0.025 direct labor hour per fender, at a standard cost of $12.50 per hour. Read the requirement....
Superior Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2016, using 143,000...
Superior Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2016, using 143,000 square feet of extruded vinyl purchased at $1.30 per square foot. Production required 460 direct labor hours that cost $14.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.35 per square foot. The labor standard was 0.028 direct labor hour per fender, at a standard cost of $13.50 per hour. Compute the cost...
E23-19 (similar to) Question Help Deluxe Fender, which uses a standard cost system, manufactured 20,000 boat...
E23-19 (similar to) Question Help Deluxe Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 146,000 square feet of extruded vinyl purchased at $1.10 per square foot. Production required 450 direct labor hours that cost 512 50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.15 per square foot. The labor standard was 0.027 dired labor hour per fender, at a standard cost of...
Hull Guard, which used a standard cost accounting system, manufactured 240,000 boat fenders during the year,...
Hull Guard, which used a standard cost accounting system, manufactured 240,000 boat fenders during the year, using 1,730,000 feet of extruded vinyl purchased at $1.15 per foot. Production required 4,900 direct labor hours that cost $14.50 per hour. The materials standard was 7 feet of vinyl per fender at a standard cost of $1.25 per foot. The labor standard was 0.022 direct labor hour per fender at a standard cost of $13.00 per hour. 0 Requirements rate and efficiency variances...
Grand Guard, which used a standard cost accounting system, manufactured 130.000 boat fenders during the year...
Grand Guard, which used a standard cost accounting system, manufactured 130.000 boat fenders during the year using 1.130 000 eet of extruded vinyl purchased at $1.50 per foot. Production required 4,000 direct labor hours that cost $15.50 per hour. The materials standard was 6 feet of vinyl per fender at a standard cost of $150 per foot. The labor standard was 0.025 direct labor hour per fender at a standard cost of $14.50 per hour Read More Requirement 1. Compute...
Deluxe Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 142,000 square feet of extruded vinyl purchased at $1.55 per square foot. Production required 440 direct labor hours that cost $16.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.60 per square foot. The labor standard was 0.025 direct labor hour per fender, at a standard cost of $15.50 per hour. Read the requirement....
Best Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 145,000 square feet of extruded vinyl purchased at $1.15 per square foot. Production required 460 direct labor hours that cost $13.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.20 per square foot. The labor standard was 0.025 direct labor hour per fender, at a standard cost of $12.50 per hour. Read the requirement....
Best Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 145,000 square feet of extruded vinyl purchased at $1.15 per square foot. Production required 460 direct labor hours that cost $13.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.20 per square foot. The labor standard was 0.025 direct labor hour per fender, at a standard cost of $12.50 per hour. Read the requirement....
All-Star Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 146,000 square feet of extruded vinyl purchased at $1.10 per square foot. Production required 440 direct labor hours that cost $13.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.15 per square foot. The labor standard was 0.027 direct labor hour per fender, at a standard cost of $12.50 per hour. Read the requirement...
Deluxe Fender, which uses a standard costs system, manufactured
20,000 boat fenders during 2018, using 144,000 square feet of
extruded vinyl purchased at $1.15 per square foot. Production
required 440 direct labor hours that cost $14.50 per hour. The
direct materials standard was seven square feet of vinyl per
fender, at a standard cost of $1.20 per square foot. The labor
standard was 0.025 direct labor hour per fender, at a standard cost
of $13.50 per hour.
Please compute the...
Best Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 145,000 square feet of extruded vinyl purchased at $1.15 per square foot. Production required 460 direct labor hours that cost $13.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.20 per square foot. The labor standard was 0.025 direct labor hour per fender, at a standard cost of $12.50 per hour. Read the requirement....
Superior Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2016, using 143,000 square feet of extruded vinyl purchased at $1.30 per square foot. Production required 460 direct labor hours that cost $14.50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.35 per square foot. The labor standard was 0.028 direct labor hour per fender, at a standard cost of $13.50 per hour. Compute the cost...
E23-19 (similar to) Question Help Deluxe Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 146,000 square feet of extruded vinyl purchased at $1.10 per square foot. Production required 450 direct labor hours that cost 512 50 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $1.15 per square foot. The labor standard was 0.027 dired labor hour per fender, at a standard cost of...
Hull Guard, which used a standard cost accounting system, manufactured 240,000 boat fenders during the year, using 1,730,000 feet of extruded vinyl purchased at $1.15 per foot. Production required 4,900 direct labor hours that cost $14.50 per hour. The materials standard was 7 feet of vinyl per fender at a standard cost of $1.25 per foot. The labor standard was 0.022 direct labor hour per fender at a standard cost of $13.00 per hour. 0 Requirements rate and efficiency variances...
Grand Guard, which used a standard cost accounting system, manufactured 130.000 boat fenders during the year using 1.130 000 eet of extruded vinyl purchased at $1.50 per foot. Production required 4,000 direct labor hours that cost $15.50 per hour. The materials standard was 6 feet of vinyl per fender at a standard cost of $150 per foot. The labor standard was 0.025 direct labor hour per fender at a standard cost of $14.50 per hour Read More Requirement 1. Compute...
Most questions answered within 3 hours.
-
The random variable X is exponentially distributed, where X
represents the time it takes for a...
asked 4 minutes ago -
a) Write a verilog module for 1:4 Demultiplexer using verilog
primitives.
b) Design 1-to-4 DEMUX using...
asked 18 seconds from now -
MATLAB
write a MATLAB function (1) output a third-order polynomial
function with the coefficients as the...
asked 12 minutes ago -
A z-score
communicates a raw score’s "relative standing"
under the normal curve in relation to:
asked 21 minutes ago -
An object is vibrating on a spring with the following equation
of motion:
?=(30 ??)cos((2?)/(160)?)
a)...
asked 20 minutes ago -
Vulcan Flyovers offers scenic overflights of Mount St. Helens,
the volcano in Washington State that explosively...
asked 22 minutes ago -
If organizations do not adapt fast enough and move incrementally
from the twentieth-century model to the...
asked 23 minutes ago -
A helium balloon with 2.5L of gas has a gauge pressure of 10,000
Pa. The balloon...
asked 27 minutes ago -
What is responsible for Jupiter's enormous magnetic field?
asked 43 minutes ago -
At the end of the year, a company offered to buy 5,000 units of
a product...
asked 44 minutes ago -
Implement C++ program for each of the following.
Let D = [-48, -14, -8, 0, 1,...
asked 1 hour ago -
Consider a labor market in which LD = 400 – 4W and LS = 250 +...
asked 1 hour ago