Bialas Corporation uses a standard cost system in which Inventories are recorded at their standard costs...
Robnett Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows: Inputs Direct materials Direct labor Fixed manufacturing overhead Total standard cost per unit Standard Quantity or Hours 3.8 liters 0.60 hours 0.60 hours Standard Price or Standard Rate Cost...
Robnett Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company’s only product is as follows: Inputs Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 3.8 liters $ 6.50 per liter $ 24.70 Direct labor 0.60 hours $ 18.00 per hour...
Mangrum Corporation manufactures one product. It does not maintain any beginning or ending Work In Process Inventories. The company uses a standard cost system in which Inventories are recorded at their standard costs. Information concerning the direct labor standards for the company's only product is as follows: Standard Quantity or Hours 0.70 hours Inputs Direct labor Standard Price or Rate $21.50 per hour Standard Cost 15.05 During the year, the company assigned direct labor costs to work in process. The...
Alberts Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. The standard cost card for the company's only product is as follows: Standard Quantity Inputs or Hours Direct materials 2.0 liters Direct labor 0.80 hours Fixed manufacturing overhead 0.80 hours Total standard cost per unit Standard Price or Standard Rate Cost $9.50 per liter $19.00 $ 20.00per...
Arena Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs and any variances are closed directly to Cost of Goods Sold. There is no variable manufacturing overhead. The standard cost card for the company’s only product is as follows: Inputs Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 1.2 pounds $ 5.50 per...
Ester Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company’s only product is as follows: Inputs Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 1.9 gallons $ 6.50 per gallon $ 12.35 Direct labor 0.80 hours $ 18.00 per hour...
Turrubiates Corporation makes a product that uses a material with the following standards: Standard quantity 7.8 liters per unit Standard price $ 2.30 per liter Standard cost $ 17.94 per unit The company budgeted for production of 3,600 units in April, but actual production was 3,700 units. The company used 29,400 liters of direct material to produce this output. The company purchased 19,900 liters of the direct material at $2.4 per liter. The direct materials purchases variance is computed when...
Robins Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs and any variances are closed directly to Cost of Goods Sold. There is no variable manufacturing overhead. The standard cost card for the company’s only product is as follows: Inputs Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 3.8 pounds $ 9.50 per...
Wallis Company manufactures only one product and uses a standard cost system. The company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. All of the company's manufacturing overhead costs are fixed-it does not incur any variable manufacturing overhead costs. The predetermined overhead rate is based on a cost formula that estimated $2,884,000 of fixed manufacturing overhead for an estimated allocation base of 288,400 direct labor-hours. Wallis does not maintain any beginning or ending...
Landram Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 2.0 liters $7.00 per liters Direct labor 1.1 hours $13.00 per hour Variable overhead 1.1 hours $7.00 per hour The company produced 4,800 units in April using 10,290 liters of direct material and 2,270 direct labor-hours. During the month, the company purchased 10,860 liters of the direct material at $7.35. per liter. The actual direct labor rate was $13.60 per...