Digital Art manufactures decorative wall hangings. The company uses standard costs to prepare its flexible budget....
Digital Art manufactures decorative wall hangings. The company uses standard costs to prepare its flexible budget. For the second quarter of 20x8, direct material and direct labor standards for the company’s most popular product were as follows: Direct material: 1 pound per unit; $12 per pound Direct labor: 4 hours per unit; $15 per hour During the quarter, Digital produced 5,000 units. At the end of the quarter, materials records showed that the company used 7,000 pounds of materials, with actual materials costs of $98,000. Based on these data, what is the direct materials efficiency variance? Multiple Choice $24,000 F. $24,000 U. $2,000 U. $2,000 F. None of the answers is correct.
Homework Answers
Direct material efficiency variance = (SQ-AQ)SP
= (5000*1-7000)*12
Material efficiency variance = 24000 U
So answer is b) $24000 U
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Digital Art manufactures decorative wall hangings. The company
uses standard costs to prepare its flexible budget....
merald Marine Stores Company manufactures decorative fittings for luxury yachts that require highly skilled labor, and...
merald Marine Stores Company manufactures decorative fittings for luxury yachts that require highly skilled labor, and special metallic materials. Emerald uses standard costs to prepare its flexible budget. For the first quarter of 2015, direct material and direct labor standards for one of their popular products were as follows: Direct materials: 1 pound per unit; $12 per pound Direct labor: 4 hours per unit; $15 per hour Emerald produced 5,000 units during the quarter. At the end of the quarter,...
8. PM Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly...
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Seaworthy Designs manufactures special metallic materials and decorative Alings for my yachts that require highly skilled labor Seaworthy uses standard costs to prepares feble budget. For the first quarter of the year, direct materials and direct labor standards for one of the popular products were as follows Direct materials 3 pounds per unit 56 per pound Dredlabor 2 hours per un 50 per hour During the starter Seawory produced 4000 units of this product Aduldre materials and direct labor costs...
A company's flexible budget for the range of 30,000 units to 36,000 units of production showed...
A company's flexible budget for the range of 30,000 units to 36,000 units of production showed variable overhead costs of $3.60 per unit and fixed overhead costs of $70,000. The company incurred total overhead costs of $180,100 while operating at a volume of 40,000 units. The total controllable cost variance is Multiple Choice $2,100 unfavorable. $2100 favorable. 33.900 favorable. $6,000 favorable $33.900 unfavorable Hassock Corp. produces woven wall hangings. It takes 4 hours of direct labor to produce a single...
41 to 46 please 41) 41) A comeany s seting its dirr materia and drct laor...
41
to 46 please
41) 41) A comeany s seting its dirr materia and drct laor standards for its eading product. Direct materials cost from e supper are 19per square ootet of purdhase discount Freight-in foot Basic wages of the oemery ine personnel are $14 per hour amourts to so p matety 21% of wg Barets amount to $2 per hour How much is the Payroll taxes are appr die O) $1600 AL ats cot standard per square foor 91500...
Standard Cost and Flexible Budget. Brier Company produces car covers. The company's master budget shows the...
Standard Cost and Flexible Budget. Brier Company produces car covers. The company's master budget shows the following standards information. Expected production for September 5,000 units 29. Direct materials 8 yards per unit at $5 per yard Direct labor 3 hours per unit at $16 per hour Variable manufacturing overhead Required: a. Caleulate the standard cost per unit for direct materials, direct labor, and variable manufacturing overhead using the format shown in Figure 10.1. 3 direct labor hours per unit at...
Kildare Company manufactures 100-pound bags of mulch that have the following unit standard costs for direct...
Kildare Company manufactures 100-pound bags of mulch that have the following unit standard costs for direct materials and direct labor: Direct materials (100 lbs. @ $0.40 per lb.) $40.00 Direct labor (0.5 hours at $18 per hour) 9.00 Total standard prime cost per 100-lb. bag $49.00 The following activities were recorded for October: • 2,000 bags were manufactured. • 190,000 lbs. of materials costing $70,000 were purchased. • 205,000 lbs. of materials were used. • $19,000 was paid for 950...
69) Assume that a company provided the following excerpts of information from its flexible budget performance...
69) Assume that a company provided the following excerpts of information from its flexible budget performance report: Actual Results Flexible Budget Planning Budget Flights (q) 52 ? ? Expenses: Wages and salaries ($4,000 + $88.00q) $ 8,495 ? $ 8,400 What is the spending variance for wages and salaries expense? Multiple Choice $176 U $176 F $81 F $81 U 75) Assume the following: The standard labor rate per hour is $17.20. The standard labor-hours allowed per unit of finished...
Kildare Company manufactures 100-pound bags of mulch that have the following unit standard costs for direct materials an...
Kildare Company manufactures 100-pound bags of mulch that have the following unit standard costs for direct materials and direct labor: Direct materials (100 lbs. @ $0.40 per lb.) $40.00 Direct labor (0.5 hours at $18 per hour) 9.00 Total standard prime cost per 100-lb. bag $49.00 The following activities were recorded for October: • 2,000 bags were manufactured. • 190,000 lbs. of materials costing $70,000 were purchased. • 205,000 lbs. of materials were used. • $19,000 was paid for 950...
Paradigm Toys Flexible Budget Performance Report Difference Budget Actual Favorable (F) Unfavorable (U) Production in units...
Paradigm Toys Flexible Budget Performance Report Difference Budget Actual Favorable (F) Unfavorable (U) Production in units 18,00018,000 Direct labor Direct labor hours (1 hour/unit) 18,000 18,200 200 (U) Direct labor costs ($20/hour) $360,000 $354,900 5,100 (F) Direct Materials Quantity (.5/unit) Dollars ($20/unit) 9,000 9,300 300 (U) 360,000 375,000 $15,000 (U) Variable costs Indirect materials Indirect labor Utilities 720,000 700,000 20.000 (F) 324,000 288.000 36,000 (F) 98,000 176,000 22,000 (F) 1,242,000 1,164,000 76.000 (F Total variable costs 1,242,000 1,164,000 78,00 F)...
8. PM Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. PM uses standard costs to prepare its flexible budget. For the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: Direct materials: 2 pounds per unit; $3 per pound Direct labor: 5 hours per unit; $16 per hour PM produced 5,000 units during the quarter. At the end of the quarter,...
Seaworthy Designs manufactures special metallic materials and decorative Alings for my yachts that require highly skilled labor Seaworthy uses standard costs to prepares feble budget. For the first quarter of the year, direct materials and direct labor standards for one of the popular products were as follows Direct materials 3 pounds per unit 56 per pound Dredlabor 2 hours per un 50 per hour During the starter Seawory produced 4000 units of this product Aduldre materials and direct labor costs...
A company's flexible budget for the range of 30,000 units to 36,000 units of production showed variable overhead costs of $3.60 per unit and fixed overhead costs of $70,000. The company incurred total overhead costs of $180,100 while operating at a volume of 40,000 units. The total controllable cost variance is Multiple Choice $2,100 unfavorable. $2100 favorable. 33.900 favorable. $6,000 favorable $33.900 unfavorable Hassock Corp. produces woven wall hangings. It takes 4 hours of direct labor to produce a single...
41
to 46 please
41) 41) A comeany s seting its dirr materia and drct laor standards for its eading product. Direct materials cost from e supper are 19per square ootet of purdhase discount Freight-in foot Basic wages of the oemery ine personnel are $14 per hour amourts to so p matety 21% of wg Barets amount to $2 per hour How much is the Payroll taxes are appr die O) $1600 AL ats cot standard per square foor 91500...
Standard Cost and Flexible Budget. Brier Company produces car covers. The company's master budget shows the following standards information. Expected production for September 5,000 units 29. Direct materials 8 yards per unit at $5 per yard Direct labor 3 hours per unit at $16 per hour Variable manufacturing overhead Required: a. Caleulate the standard cost per unit for direct materials, direct labor, and variable manufacturing overhead using the format shown in Figure 10.1. 3 direct labor hours per unit at...
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