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Materials Variances Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity...
Materials Variances Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity...
Materials Variances Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.4 ounces of aluminum per can. During the month of April, 298,000 cans were produced using 1,253,000 ounces of aluminum. The actual cost of aluminum was $0.2 per ounce and the standard price was $0.13 per ounce. There are no beginning or ending inventories of aluminum. Required: Calculate the materials price and usage variances using the columnar and formula approaches. Enter amounts as...
Materials Variances Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity...
Materials Variances Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.5 ounces of aluminum per can. During the month of April, 305,000 cans were produced using 1,250,000 ounces of aluminum. The actual cost of aluminum was $0.2 per ounce and the standard price was $0.14 per ounce. There are no beginning or ending inventories of aluminum. Required: Calculate the materials price and usage variances using the columnar and formula approaches. Enter amounts as...
Total Materials Variance Krumple Inc. produces aluminum cans. Production of 9-ounce cans has a standard unit...
Total Materials Variance Krumple Inc. produces aluminum cans. Production of 9-ounce cans has a standard unit quantity of 4.7 ounces of aluminum per can. During the month of April, 270,000 cans were produced using 1,350,000 ounces of aluminum. The actual cost of aluminum was $0.17 per ounce and the standard price was $0.05 per ounce. There are no beginning or ending inventories of aluminum. Required: Calculate the total variance for aluminum for the month of April. Enter amount as a...
Total Materials Variance Krumple Inc. produces aluminum cans. Production of 10-ounce cans has a standard unit...
Total Materials Variance Krumple Inc. produces aluminum cans. Production of 10-ounce cans has a standard unit quantity of 4.6 ounces of aluminum per can. During the month of April, 250,000 cans were produced using 1,100,000 ounces of aluminum. The actual cost of aluminum was $0.15 per ounce and the standard price was $0.02 per ounce. There are no beginning or ending inventories of aluminum. Required: Calculate the total variance for aluminum for the month of April. Enter amount as a...
Materials Variances Young Inc. produces plastic bottles. Production of 16-ounce bottles has a standard unit quantity...
Materials Variances Young Inc. produces plastic bottles. Production of 16-ounce bottles has a standard unit quantity of 0.45 ounce of plastic per bottle. During the month of June, 240,000 bottles were produced using 110,000 ounces of plastic. The actual cost of plastic was $0.042 per ounce, and the standard price was $0.045 per ounce. There is no beginning or ending inventories of plastic. Required: Calculate the materials price and usage variances using the columnar and formula approaches. Enter amounts as...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor $12.00 Leather (3 strips @ $4) Direct labor (0.75 hr. @ $12) Total prime cost 9.00 $21.00 During the first month of the year, the Boise plant produced 92.000 belts. Actual leather purchased was 303,500 strips at $3.60 per strip. There were no beginning or ending inventories of leather. Actual direct labor...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor: Leather (3 strips @ $4) $12.00 Direct labor (0.75 hr. @ $12) 9.00 Total prime cost $21.00 During the first month of the year, the Boise plant produced 92,000 belts. Actual leather purchased was 300,500 strips at $3.00 per strip. There were no beginning or ending inventories of leather. Actual direct labor...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor: Leather (3 strips @$4) Direct labor (0.75 hr. $12) Total prime cost During the first month of the year, the Boise plant produced 92,000 belts. Actual leather purchased was 281500 strips at $3.60 per strip. There were no beginning or ending inventories of leather. Actual direct labor was 78,500 hours at $14.00...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor: Leather (3 strips @ $4) $12.00 Direct labor (0.75 hr. @ $12) 9.00 Total prime cost $21.00 During the first month of the year, the Boise plant produced 92,000 belts. Actual leather purchased was 290,500 strips at $3.00 per strip. There were no beginning or ending inventories of leather. Actual direct labor...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor Leather (3 strips@$4) $12.00 9.00 Direct labor (0.75 hr. @ $12) $21.00 Total prime cost During the first month of the year, the Boise plant produced 92,000 belts. Actual leather purchased was 290,500 strips at $3.60 per strip. There were no beginning or ending inventories of leather. Actual direct labor was 80,500...
Materials Variances Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.4 ounces of aluminum per can. During the month of April, 298,000 cans were produced using 1,253,000 ounces of aluminum. The actual cost of aluminum was $0.2 per ounce and the standard price was $0.13 per ounce. There are no beginning or ending inventories of aluminum. Required: Calculate the materials price and usage variances using the columnar and formula approaches. Enter amounts as...
Materials Variances Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.5 ounces of aluminum per can. During the month of April, 305,000 cans were produced using 1,250,000 ounces of aluminum. The actual cost of aluminum was $0.2 per ounce and the standard price was $0.14 per ounce. There are no beginning or ending inventories of aluminum. Required: Calculate the materials price and usage variances using the columnar and formula approaches. Enter amounts as...
Total Materials Variance Krumple Inc. produces aluminum cans. Production of 9-ounce cans has a standard unit quantity of 4.7 ounces of aluminum per can. During the month of April, 270,000 cans were produced using 1,350,000 ounces of aluminum. The actual cost of aluminum was $0.17 per ounce and the standard price was $0.05 per ounce. There are no beginning or ending inventories of aluminum. Required: Calculate the total variance for aluminum for the month of April. Enter amount as a...
Total Materials Variance Krumple Inc. produces aluminum cans. Production of 10-ounce cans has a standard unit quantity of 4.6 ounces of aluminum per can. During the month of April, 250,000 cans were produced using 1,100,000 ounces of aluminum. The actual cost of aluminum was $0.15 per ounce and the standard price was $0.02 per ounce. There are no beginning or ending inventories of aluminum. Required: Calculate the total variance for aluminum for the month of April. Enter amount as a...
Materials Variances Young Inc. produces plastic bottles. Production of 16-ounce bottles has a standard unit quantity of 0.45 ounce of plastic per bottle. During the month of June, 240,000 bottles were produced using 110,000 ounces of plastic. The actual cost of plastic was $0.042 per ounce, and the standard price was $0.045 per ounce. There is no beginning or ending inventories of plastic. Required: Calculate the materials price and usage variances using the columnar and formula approaches. Enter amounts as...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor $12.00 Leather (3 strips @ $4) Direct labor (0.75 hr. @ $12) Total prime cost 9.00 $21.00 During the first month of the year, the Boise plant produced 92.000 belts. Actual leather purchased was 303,500 strips at $3.60 per strip. There were no beginning or ending inventories of leather. Actual direct labor...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor: Leather (3 strips @ $4) $12.00 Direct labor (0.75 hr. @ $12) 9.00 Total prime cost $21.00 During the first month of the year, the Boise plant produced 92,000 belts. Actual leather purchased was 300,500 strips at $3.00 per strip. There were no beginning or ending inventories of leather. Actual direct labor...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor: Leather (3 strips @$4) Direct labor (0.75 hr. $12) Total prime cost During the first month of the year, the Boise plant produced 92,000 belts. Actual leather purchased was 281500 strips at $3.60 per strip. There were no beginning or ending inventories of leather. Actual direct labor was 78,500 hours at $14.00...
Materials Variances Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor Leather (3 strips@$4) $12.00 9.00 Direct labor (0.75 hr. @ $12) $21.00 Total prime cost During the first month of the year, the Boise plant produced 92,000 belts. Actual leather purchased was 290,500 strips at $3.60 per strip. There were no beginning or ending inventories of leather. Actual direct labor was 80,500...
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