Homework Answers
Quality fender
Standard cost income statement
For the year ended 31st December 2018
| Sales | 700000 | ||
| Cost of good sold (std) | 194100 | ||
| Add/Less: Variances | |||
| Direct material cost variance | -7350 | ||
| Direct labour cost variance | 430 | ||
| Variable overhead cost variance | 740 | ||
| Fixed Overhead cost Variance | 2830 | ||
| Total Variance | -3350 | ||
| Net cost of good sold | 190750 | ||
| Goss profit | 509250 | ||
| Less: Selling and administrative expense | 450000 | ||
| Net profit | 59250 |
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Quality Fender, which uses a standard cost system, manufactured 20,000 boat fonders during 2018. The 2018...
Quality Fender, which uses a standard cost system, manufactured 20.000 boat fenders during 2018. The 2018...
Quality Fender, which uses a standard cost system, manufactured 20.000 boat fenders during 2018. The 2018 revenue and cost information for Quality follows: (Click the icon to view the revenue and cost information.) Assume each fender produced was sold for the standard price of $75, and total selling and administrative costs were $600,000. Prepare a standard cost income statement for 2018 for Quality Fender. (Use a minus sign or parentheses to any contra expenses. Enter all other amounts as positive...
All-Star Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018. Assume each...
All-Star Fender, which uses a standard cost system,
manufactured 20,000 boat fenders during 2018.
Assume each fender produced was sold for the standard price of
$45, and total selling and administrative costs were $200,000.
Prepare a standard cost income statement for 2018 for All−Star
Fender.
Please prepare a standard cost income statement for 2018 for
All−Star Fender.
Thank you in advance! ?
$ 900,000 192,500 7,350 F Sales Revenue Cost of Goods Sold (at standard) Direct materials cost variance Direct...
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....
Pro Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018, using 142,000...
Pro 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 $12.50 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 0.024 direct labor hour per fender, at a standard cost of $11.50 per hour. boat fenders during...
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....
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....
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...
Quality Fender, which uses a standard cost system, manufactured 20.000 boat fenders during 2018. The 2018 revenue and cost information for Quality follows: (Click the icon to view the revenue and cost information.) Assume each fender produced was sold for the standard price of $75, and total selling and administrative costs were $600,000. Prepare a standard cost income statement for 2018 for Quality Fender. (Use a minus sign or parentheses to any contra expenses. Enter all other amounts as positive...
All-Star Fender, which uses a standard cost system,
manufactured 20,000 boat fenders during 2018.
Assume each fender produced was sold for the standard price of
$45, and total selling and administrative costs were $200,000.
Prepare a standard cost income statement for 2018 for All−Star
Fender.
Please prepare a standard cost income statement for 2018 for
All−Star Fender.
Thank you in advance! ?
$ 900,000 192,500 7,350 F Sales Revenue Cost of Goods Sold (at standard) Direct materials cost variance Direct...
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....
Pro 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 $12.50 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 0.024 direct labor hour per fender, at a standard cost of $11.50 per hour. boat fenders during...
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....
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....
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...
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