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Standard Cost Journal Entries Bellingham Company produced 3,800 units that require seven standard pounds per...
Standard Cost Journal Entries Bellingham Company produced 5,900 units that require 11 standard pounds per unit...
Standard Cost Journal Entries Bellingham Company produced 5,900 units that require 11 standard pounds per unit at a $7.5 standard price per pound. The company actually used 66,200 pounds in production. Journalize the entry to record the standard direct materials used in production. For a compound transaction, if an amount box does not require an entry, leave it blank. Work in Process Direct Materials Quantity Variance Materials
Standard Cost Journal Entries Dvorak Company produced 4,500 units that require 12 standard pounds per unit...
Standard Cost Journal Entries Dvorak Company produced 4,500 units that require 12 standard pounds per unit at $7.5 standard price per pound. The company actually used 56,200 pounds in production. Journalize the entry to record the standard direct materials used in production. For a compound transaction, if an amount box does not require an entry, leave it blank. Work in Process ________ _______ Direct Materials Quantity Variance ________ ______ Materials _______ ______
Robin Company purchased and used 500 pounds of direct materials to produce a product with a...
Robin Company purchased and used 500 pounds of direct materials to produce a product with a 520 pound standard direct materials requirement. The standard materials price is $1.90 per pound. The actual materials orice was $2.00 per pound Robin records standards and variances in the general ledger 1. Prepare the journal entries to record the purchase of the materials on account. If an amount box does not require an entry, leave it blank. 2. Prepare the journal entries to
Bellingham Company produces a product that requires 12 standard pounds per unit. The standard price is...
Bellingham Company produces a product that requires 12 standard pounds per unit. The standard price is $9.5 per pound. If 3,400 units used 42,400 pounds, which were purchased at $9.02 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Variances Bellingham Company produces a product that requires 12 standard pounds...
Bellingham Company produces a product that requires six standard pounds per unit. The standard price is...
Bellingham Company produces a product that requires six standard pounds per unit. The standard price is $7 per pound. If 3,100 units used 19,200 pounds, which were purchased at $6.79 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Bellingham Company produces a product that requires 7 standard pounds per unit. The standard price is...
Bellingham Company produces a product that requires 7 standard
pounds per unit. The standard price is $3 per pound. If 2,600 units
required 17,700 pounds, which were purchased at $3.12 per pound,
what is the direct materials (a) price variance, (b) quantity
variance, and (c) total direct materials cost variance? Enter a
favorable variance as a negative number using a minus sign and an
unfavorable variance as a positive number.
Direct Materials Variances Bellingham Company produces a product that requires...
Bellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price is...
Bellingham Company produces a product that requires 2.5 standard
pounds per unit. The standard price is $3.75 per pound. The company
produced 15,000 units that required 36,000 pounds, which were
purchased at $4.00 per pound. The product also requires 4 standard
hours per unit at a standard hourly rate of $20 per hour. The
15,000 units required 61,800 hours at an hourly rate of $19.85 per
hour. In addition, the standard variable overhead cost per unit is
$0.90 per hour...
Obj. 3 Bellingham Company produces a product that SHOW ME HOW requires 2.5 standard pounds per...
Obj. 3 Bellingham Company produces a product that SHOW ME HOW requires 2.5 standard pounds per unit. The standard price is $3.75 per pound. If 15,000 units used 36,000 pounds, which were purchased at $4.00 per pound, what is the direct materials (A) price variance, (B) quantity variance. and (C) cost variance?
Bellingham Company produces a product that requires 14 standard pounds per unit. The standard price is...
Bellingham Company produces a product that requires 14 standard pounds per unit. The standard price is $11.5 per pound. If 3,100 units used 44,300 pounds, which were purchased at $11.15 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance $ Favorable b. Direct materials quantity variance $...
On November 14, the Milling Department accepted Job 111407A for 1,000 pounds of cereal mix. Materials:...
On November 14, the Milling Department accepted Job 111407A for 1,000 pounds of cereal mix. Materials: Standard Cost Oats Wheat Barley Standard Qty. 525 pounds 450 pounds 85 pounds 65 pounds 25 quarts 25 gallons $1.25 per pound $1.15 per pound $1.45 per pound $2.15 per pound $1.20 per quart $0.45 per gallon Malt Honey Water Time: Miller 4 1/2 hours 1 1/2 hours $22.75 per hour $11.50 per hour Loader Overhead is applied at $5.75 per pound completed. The...
Robin Company purchased and used 500 pounds of direct materials to produce a product with a 520 pound standard direct materials requirement. The standard materials price is $1.90 per pound. The actual materials orice was $2.00 per pound Robin records standards and variances in the general ledger 1. Prepare the journal entries to record the purchase of the materials on account. If an amount box does not require an entry, leave it blank. 2. Prepare the journal entries to
Bellingham Company produces a product that requires 7 standard
pounds per unit. The standard price is $3 per pound. If 2,600 units
required 17,700 pounds, which were purchased at $3.12 per pound,
what is the direct materials (a) price variance, (b) quantity
variance, and (c) total direct materials cost variance? Enter a
favorable variance as a negative number using a minus sign and an
unfavorable variance as a positive number.
Direct Materials Variances Bellingham Company produces a product that requires...
Bellingham Company produces a product that requires 2.5 standard
pounds per unit. The standard price is $3.75 per pound. The company
produced 15,000 units that required 36,000 pounds, which were
purchased at $4.00 per pound. The product also requires 4 standard
hours per unit at a standard hourly rate of $20 per hour. The
15,000 units required 61,800 hours at an hourly rate of $19.85 per
hour. In addition, the standard variable overhead cost per unit is
$0.90 per hour...
Obj. 3 Bellingham Company produces a product that SHOW ME HOW requires 2.5 standard pounds per unit. The standard price is $3.75 per pound. If 15,000 units used 36,000 pounds, which were purchased at $4.00 per pound, what is the direct materials (A) price variance, (B) quantity variance. and (C) cost variance?
On November 14, the Milling Department accepted Job 111407A for 1,000 pounds of cereal mix. Materials: Standard Cost Oats Wheat Barley Standard Qty. 525 pounds 450 pounds 85 pounds 65 pounds 25 quarts 25 gallons $1.25 per pound $1.15 per pound $1.45 per pound $2.15 per pound $1.20 per quart $0.45 per gallon Malt Honey Water Time: Miller 4 1/2 hours 1 1/2 hours $22.75 per hour $11.50 per hour Loader Overhead is applied at $5.75 per pound completed. The...
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