Homework Answers
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| Actual price of material per kilo | ¥ 15.40 |
| Standard quantity for actual Zippos produced | 14,700 |
| Material price variance (MPV) | ¥ 19,894 |
| Is MPV favorable or unfavorable? | Unfavorable |
| Material quantity variance (MQV) | ¥ 6,860 |
| Is MQV favorable or unfavorable? | Favorable |
| Actual labor rate | ¥ 17.50 |
| Standard hours for actual Zippos produced | 34,300 |
| Labor rate variance (LRV) | ¥ 77,175 |
| Is LRV favorable or unfavorable? | Unfavorable |
| Labor efficiency variance (LEV) | ¥ 51,450 |
| Is LEV favorable or unfavorable? | Favorable |
Calculation
| Minus sign indicate unfavorable variance. | ||
| Measure | Kilo | |
| Standard price per Kilo | ¥ 14.00 | |
| 218834/14210 | Actual price per Kilo | ¥ 15.40 |
| 4900*3 | Standard quantity in Kilos | 14,700 |
| Actual quantity purchased in Kilos | 14,210 | |
| Actual quantity used in Kilos | 14,210 | |
| Standard price per Kilo | 14.00 | |
| Less | Actual price per Kilo | -15.40 |
| Difference | -1.40 | |
| Multiply | Actual quantity purchased in Kilos | 14210 |
| Material price variance | ¥ -19,894 | |
| Indicate | Unfavorable | |
| Standard quantity in Kilos | 14700 | |
| Less | Actual quantity used in Kilos | -14210 |
| Difference | 490 | |
| Multiply | Standard price per Kilo | 14.00 |
| Material quantity variance | ¥ 6,860 | |
| Indicate | Favorable | |
| Minus sign indicate unfavorable variance. | ||
| Measure | Hour | |
| Standard rate per Hour | ¥ 15.00 | |
| 540225/30870 | Actual rate per Hour | ¥ 17.50 |
| 4900*7 | Standard labor Hours | 34,300 |
| Actual labor Hours | 30,870 | |
| Standard rate per Hour | 15.00 | |
| Less | Actual rate per Hour | -17.50 |
| Difference | -2.50 | |
| Multiply | Actual labor Hours | 30870 |
| Labor price (rate) variance | ¥ -77,175 | |
| Indicate | Unfavorable | |
| Standard labor Hours | 34300 | |
| Less | Actual labor Hours | -30870 |
| Difference | 3430 | |
| Multiply | Standard rate per Hour | 15.00 |
| Labor quantity (efficiency) variance | ¥ 51,450 | |
| Indicate | Favorable | |
| Summary of Answer | ||
| Material | ||
| Material price variance | ¥ 19,894 | Unfavorable |
| Material quantity variance | ¥ 6,860 | Favorable |
| Labor | ||
| Labor price (rate) variance | ¥ 77,175 | Unfavorable |
| Labor quantity (efficiency) variance | ¥ 51,450 | Favorable |
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ex
4,5 with explaination please!
Exercise 4 Mojo Co. makes zippos out of a material called...
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EX5
Please help with explaination
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EX 2 and 3 with explaination please! Exercise 2 French Co. makes berets out of a...
EX
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Exercise 2 French Co. makes berets out of a special dyed wool fabric. During the month, the company made 4000 berets using 4400 decimeters of fabric. The fabric cost 58080 Euros. According to company standards, each beret requires 1.2 decimeters of fabric at a cost of 12 Euros per decimeter. What is the actual price of fabric per decimeter? What is the standard quantity given the number of berets produced? What is the...
Exercise 4 French Co. makes berets out of a special dyed wool fabric. During the month,...
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Problem 5 Sakelaris Corporation makes a product with the following standard costs: Standard Quantity or Hours...
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Mickley Corporation produces two products, Alphabs and Zeta7s, which pass through two operations, Sintering and Finishing....
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Please help me out!!! Mickley Corporation produces two products, Alphabs and Zeta7s, which pass through two...
Please help me out!!!
Mickley Corporation produces two products, Alphabs and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Product Alpha 6 Zeta 7 Raw Material X442 Y661 3.0 kilos 2.0 liters 5.0 kilos 4.0 liters Standard Labor Time Sintering Finishing 0.30 hours 1.20 hours 0.40 hours 1.20 hours Information...
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Problem 9-21 Multiple Products, Materials, and Processes (LO9-4, LO9-5] Mickley Corporation produces two products, Alph...
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EX5
Please help with explaination
Exercise 5 Indi Co. makes zollies out of a special type of rubber. During the month, Indi made 6400 zollies using 13440 kilos of rubber. The rubber cost $580608. During the month, Indi also incurred a direct labor cost of $414720 having worked 46080 direct labor hours. Indi's standard costs include 2 kilos of rubber at a cost of $48 per kilo. The standard direct labor time is 8 hours per zollie at a standard...
EX
2 and 3 with explaination please!
Exercise 2 French Co. makes berets out of a special dyed wool fabric. During the month, the company made 4000 berets using 4400 decimeters of fabric. The fabric cost 58080 Euros. According to company standards, each beret requires 1.2 decimeters of fabric at a cost of 12 Euros per decimeter. What is the actual price of fabric per decimeter? What is the standard quantity given the number of berets produced? What is the...
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Problem 5 Sakelaris Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 8.6 kilos $6.00 per kilo Direct labor 0.4 hours $11.00 per hour Variable overhead 0.4 hours $5.00 per hour The company reported the following results concerning this product in August uz Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead...
Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials, X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Raw Material Standard Labor Time Finishing 0.90 hours Sintering Y661 1.5 liters Product X442 2.0 kilos Alpha6 0.30 hours 4.0 kilos 3.0 liters Zeta7 0.40 hours 1.00 hours Information relating to materials purchased and...
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Please help me out!!!
Mickley Corporation produces two products, Alphabs and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Product Alpha 6 Zeta 7 Raw Material X442 Y661 3.0 kilos 2.0 liters 5.0 kilos 4.0 liters Standard Labor Time Sintering Finishing 0.30 hours 1.20 hours 0.40 hours 1.20 hours Information...
Mickley Corporation produces two products, Alphabs and Zeta7s, which pass through two operations. Sintering and Finishing. Each of the products uses two raw materials, X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Product Alpha 6 Zeta7 Raw Material X442 Y661 2.0 kilos 1.5 liters 3.0 kilos 4.5 liters Standard Labor Time Sintering Finishing 0.10 hours 1.00 hours 0.30 hours 0.80 hours Information relating to materials purchased...
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