Homework Answers
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Actual quantity *Actual rate 430000*2.10 903000 |
Actual quantity *standard rate 430000*2.75 1182500 |
Standard quantity *standard rate (210000*2)*2.75 420000*2.75 1155000 |
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Material Price variance 903000-1182500 - 279500 Favorable |
Material quantity variance 1182500-1155000 27500 Unfavorable |
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Total material variance Direct material price variance+Direct material quantity variance -279500 + 27500 - 252000 Favorable |
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b)
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Actual labor cost 3255000 |
Actual Hours *standard Rate per hour 310000*10.10 3131000 |
Standard hours *standard rate per hour (210000*1.5)*10.10 315000*10.10 3181500 |
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Direct labor rate variance 3255000-3131000 124000 Unfavorable |
Direct labor efficiency variance 3131000-3181500 - 50500 favorable |
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Total direct labor cost variance Direct labor rate variance +Direct labor efficiency variance 124000 + (-50500) 73500 Unfavorable |
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1. Your Company produces Widgets. During the year 210,000 widgets were produced. Materials and labor standards...
Seaside Company produces picture frames. During the year 190,000 picture frames were produced. Materials and labor...
Seaside Company produces picture frames. During the year 190,000 picture frames were produced. Materials and labor standards for producing the picture frames are as follows: Direct materials (2 pieces of wood @ $2.25) $4.50 Direct labor (2 hours @ $10) $20.00 Seaside purchased and used 400,000 pieces of wood at $2.00 each and its actual labor hours were 360,000 hours at a wage rate of $10.50. Refer to Figure 10-5. What is Seaside's total labor variance? $20,000 F $20,000 U...
Seaside Company produces picture frames. During the year, 190,000 picture frames were produced. Materials and tabor...
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Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards fo...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.80 pounds 0.30 hours Standard Price Standard or Rate Cost $2.30 per pound $17.94 $8.00 per hour $ 2.40 Direct materials Direct labor During the most recent month, the following activity was recorded: a. 25,900.00 pounds of material were purchased at a cost of $2.10 per pound. b. All of the...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Standard Cost $ 13.30 500 Quantity or Standard Price or Rate 2.30 per pound $10.00 per hour Hours Direct materials Direct labor 6.00 pounds 0.50 hours During the most recent month, the following activity was recorded: a. 11.000 pounds of material were purchased at a cost of $2.10 per pound. b. All of the...
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Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Standard Price Standard Hours or Rate Cost Direct materials 7.80 pounds $2.30 per $ 17.94 pounds Direct labor 0.30 hours $8.00 per hour $ 2.40 During the most recent month, the following activity was recorded: a. 25,900 pounds of material were purchased at a cost of $2.10 per pound. b. All of...
Seaside Company produces picture frames. During the year 190,000 picture frames were produced. Materials and labour...
Seaside Company produces picture frames. During the year 190,000 picture frames were produced. Materials and labour standards for producing the picture frames are as follows: Direct materials (2 pieces of wood @ $2.25) Direct labour (2 hours @ $10) $4.50 $20.00 Seaside purchased and used 400,000 pieces of wood at $2.00 each and its actual labour hours were 360,000 hours at a wage rate of $10.50. 16. What is the materials usage variance? $112,500 F $112.500 U $45,000 F $45,000...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a
commercial cleaning compound known as Zoom. The direct materials
and direct labor standards for one unit of Zoom are given below:
Standard Quantity or Hours Standard Price or Rate Standard Cost
Direct materials 6.00 pounds $ 2.30 per pound $ 13.80 Direct labor
0.50 hours $ 10.00 per hour $ 5.00 During the most recent month,
the following activity was recorded: Eleven thousand pounds of
material were purchased at a cost of $2.10 per pound. All...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for...
Huron Company produces a commercial cleaning compound known as
Zoom. The direct materials and direct labor standards for one unit
of Zoom are given below:
Please help me correct my error, provide me the way to do it too
if possible:
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost $16.25 5.75 Direct materials...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for...
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Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.00 pounds 0.45 hours Standard Price or Rate $2.20 per pound $7.00 per hour Standard Cost $15.40 $ 3.15 Direct materials Direct labor During the most recent month, the following activity was recorded: a. 19,500.00 pounds of material were purchased at a cost of $2.10 per pound. b. All of the...
Seaside Company produces picture frames. During the year, 190,000 picture frames were produced. Materials and tabor standards for producing the picture frames are as follows: Direct materials (2 pieces of wood Direct labor (2 hours $10) $2.25) $4.50 $20.00 Seaside purchased and used 400,000 pieces of wood at $2.00 each, and its actual labor hours were 360,000 hours at a wage rate of $10.50 What is the materials price variance? a $100,000 F b. $135,000 F c. $112,500 U d....
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.80 pounds 0.30 hours Standard Price Standard or Rate Cost $2.30 per pound $17.94 $8.00 per hour $ 2.40 Direct materials Direct labor During the most recent month, the following activity was recorded: a. 25,900.00 pounds of material were purchased at a cost of $2.10 per pound. b. All of the...
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Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Standard Price Standard Hours or Rate Cost Direct materials 7.80 pounds $2.30 per $ 17.94 pounds Direct labor 0.30 hours $8.00 per hour $ 2.40 During the most recent month, the following activity was recorded: a. 25,900 pounds of material were purchased at a cost of $2.10 per pound. b. All of...
Seaside Company produces picture frames. During the year 190,000 picture frames were produced. Materials and labour standards for producing the picture frames are as follows: Direct materials (2 pieces of wood @ $2.25) Direct labour (2 hours @ $10) $4.50 $20.00 Seaside purchased and used 400,000 pieces of wood at $2.00 each and its actual labour hours were 360,000 hours at a wage rate of $10.50. 16. What is the materials usage variance? $112,500 F $112.500 U $45,000 F $45,000...
Huron Company produces a
commercial cleaning compound known as Zoom. The direct materials
and direct labor standards for one unit of Zoom are given below:
Standard Quantity or Hours Standard Price or Rate Standard Cost
Direct materials 6.00 pounds $ 2.30 per pound $ 13.80 Direct labor
0.50 hours $ 10.00 per hour $ 5.00 During the most recent month,
the following activity was recorded: Eleven thousand pounds of
material were purchased at a cost of $2.10 per pound. All...
Huron Company produces a commercial cleaning compound known as
Zoom. The direct materials and direct labor standards for one unit
of Zoom are given below:
Please help me correct my error, provide me the way to do it too
if possible:
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost $16.25 5.75 Direct materials...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.00 pounds 0.45 hours Standard Price or Rate $2.20 per pound $7.00 per hour Standard Cost $15.40 $ 3.15 Direct materials Direct labor During the most recent month, the following activity was recorded: a. 19,500.00 pounds of material were purchased at a cost of $2.10 per pound. b. All of the...
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