Homework Answers
1. Standard cost is predetermined cost for performing a operation or for producing goods or services. They are used as benchmarks and they are calculated from past data.
Puprose
a) It provides a consistent base to measure the performance.
b) If there is unfavorable variance, it helps in fixing
responsibility of the employees.
c) It is helpful in planning budget for the company.
d) By creating a realistic target, it motivates staff and
operatives to achieve or better the laid down standard.
e) It provides a basis of control for buying, usage and efficient
work levels.
2.
a) Machine operate with fewer slowdowns than budgeted.
b) Workers are more skillful using machine than budgeted.
c) Machine time standards were overly lenient.
Add Answer to:
can
i have an answers for discussion questions 1 and 2
Discussions 1. What is a...
Can I have an answers for questions 1 and 2 please Discussions What is a standard cost and what are its purposes? 2....
Can I have an answers for questions 1 and 2 please
Discussions What is a standard cost and what are its purposes? 2. Assume variable manufacturing overhead is allocated using machine hours. Give three possible reasons for a favourable overhead efficiency variance. 1.
Discussions What is a standard cost and what are its purposes? 2. Assume variable manufacturing overhead is allocated using machine hours. Give three possible reasons for a favourable overhead efficiency variance. 1.
I just need number 3 r the work you have completed so far. It does not...
I just need number 3
r the work you have completed so far. It does not indicat Norwall Company's budgeted variable manufacturing overhead cost is $1.05 per machine-hour and its budgeted fixed manufacturing overhead is $31,382 per month. a. The denominator activity of 8,840 machine-hours is used to compute the predetermined overheqd rate. so b. At a denominator activity of 8,840 machine-hours, the company should produce 3,400 units of product. c. The company's actual operating results were: Number of units...
8-38 Overhead variance, missing information. Consider the following two situations—cases A and B independently. Data refer...
8-38 Overhead variance, missing information. Consider the following two situations—cases A and B independently. Data refer to operations for April 2017. For each situation, assume standard costing. Also assume the use of a flexible budget for control of variable and fixed manufacturing overhead based on machine-hours. Cases A B (1) Fixed manufacturing overhead incurred $ 84,920 $23,180 (2) Variable manufacturing overhead incurred $120,400 (3) Denominator level in machine-hours 1,000 (4) Standard machine-hours allowed for actual output achieved 6,200 (5) Fixed...
You have been assigned for reviewing the actual and budgeted figures of the variable manufacturing overhead...
You have been assigned for reviewing the actual and budgeted figures of the variable manufacturing overhead of straight umbrellas at Ombrelloni Felici (OF). The management at OF argues there are no evident issues with the variable manufacturing overhead budget as the static-budget variance is often favourable, which proves the budgeting process works quite well. The management at OF also argues the employees at the production line of straight umbrellas are always highly efficient because of the consistently favourable efficiency variances....
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city in which a company has a factory. The company finds that they are able to pay new employees a lower wage per hour than when the unemployment rate was lower a year ago. Which variance is directly impacted? A) Materials price variance B) Materials efficiency variance C) Labour price variance D) Labour efficiency variance 2) Thomas Corporation produces stopwatches. According to company standards, it...
Norwall Company's variable manufacturing overhead should be $1.95 per standard machine-hour and its fixed manufacturing overhead...
Norwall Company's variable manufacturing overhead should be $1.95 per standard machine-hour and its fixed manufacturing overhead should be $36,036 per month. The following information is available for a recent month: a. The denominator activity of 18,480 machine-hours is used to compute the predetermined overhead rate. b. At the 18,480 standard machine-hours level of activity, the company should produce 6,600 units of product. c. The company's actual operating results were: Number of units produced Actual machine-hours Actual variable manufacturing overhead cost...
I need help with Part 6. Numbers 3 and 4 These are wrong and have a...
I need help with Part 6. Numbers 3 and 4
These are wrong and have a red mark next to
them
Plimpton Company produces countertop ovens. Plimpton uses a standard costing system. The standard costing system relies on direct labor hours to assign overhead costs to production. The direct labor standard indicates that two direct labor hours should be used for every oven produced. The normal production volume is 100,000 units. The budgeted overhead for the coming year is as...
1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is...
1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances. Direct materials (resin).... ........... 13 pounds per pot at a cost of $3.00 per pound Direct labor ....4.0 hours at a cost of $12.00 per hour . . . . . . . . . . . . . . . . . . . ....
The condensed form of Nordstrop Company’s flexible budget for manufacturing overhead follows: Cost Machine-Hours Formula Overhead...
The condensed form of Nordstrop Company’s flexible budget for manufacturing overhead follows: Cost Machine-Hours Formula Overhead Costs (per machine-hour) 7,500 8,500 9,500 Variable cost $ 1.35 $ 10,125 $ 11,475 $ 12,825 Fixed cost 15,000 15,000 15,000 Total overhead cost $ 25,125 $ 26,475 $ 27,825 The following information is available for a recent period: The denominator activity of 7,500 machine-hours was chosen to compute the predetermined overhead rate. At the 7,500 standard machine-hours level of activity, the company should...
The condensed form of Nordstrop Company’s flexible budget for manufacturing overhead follows: Cost Machine-Hours Formula Overhead...
The condensed form of Nordstrop Company’s flexible budget for manufacturing overhead follows: Cost Machine-Hours Formula Overhead Costs (per machine-hour) 8,500 9,500 10,500 Variable cost $ 1.05 $ 8,925 $ 9,975 $ 11,025 Fixed cost 28,900 28,900 28,900 Total overhead cost $ 37,825 $ 38,875 $ 39,925 The following information is available for a recent period: The denominator activity of 8,500 machine-hours was chosen to compute the predetermined overhead rate. At the 8,500 standard machine-hours level of activity, the company should...
Can I have an answers for questions 1 and 2 please
Discussions What is a standard cost and what are its purposes? 2. Assume variable manufacturing overhead is allocated using machine hours. Give three possible reasons for a favourable overhead efficiency variance. 1.
Discussions What is a standard cost and what are its purposes? 2. Assume variable manufacturing overhead is allocated using machine hours. Give three possible reasons for a favourable overhead efficiency variance. 1.
I just need number 3
r the work you have completed so far. It does not indicat Norwall Company's budgeted variable manufacturing overhead cost is $1.05 per machine-hour and its budgeted fixed manufacturing overhead is $31,382 per month. a. The denominator activity of 8,840 machine-hours is used to compute the predetermined overheqd rate. so b. At a denominator activity of 8,840 machine-hours, the company should produce 3,400 units of product. c. The company's actual operating results were: Number of units...
8-38 Overhead variance, missing information. Consider the following two situations—cases A and B independently. Data refer to operations for April 2017. For each situation, assume standard costing. Also assume the use of a flexible budget for control of variable and fixed manufacturing overhead based on machine-hours. Cases A B (1) Fixed manufacturing overhead incurred $ 84,920 $23,180 (2) Variable manufacturing overhead incurred $120,400 (3) Denominator level in machine-hours 1,000 (4) Standard machine-hours allowed for actual output achieved 6,200 (5) Fixed...
You have been assigned for reviewing the actual and budgeted figures of the variable manufacturing overhead of straight umbrellas at Ombrelloni Felici (OF). The management at OF argues there are no evident issues with the variable manufacturing overhead budget as the static-budget variance is often favourable, which proves the budgeting process works quite well. The management at OF also argues the employees at the production line of straight umbrellas are always highly efficient because of the consistently favourable efficiency variances....
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city in which a company has a factory. The company finds that they are able to pay new employees a lower wage per hour than when the unemployment rate was lower a year ago. Which variance is directly impacted? A) Materials price variance B) Materials efficiency variance C) Labour price variance D) Labour efficiency variance 2) Thomas Corporation produces stopwatches. According to company standards, it...
Norwall Company's variable manufacturing overhead should be $1.95 per standard machine-hour and its fixed manufacturing overhead should be $36,036 per month. The following information is available for a recent month: a. The denominator activity of 18,480 machine-hours is used to compute the predetermined overhead rate. b. At the 18,480 standard machine-hours level of activity, the company should produce 6,600 units of product. c. The company's actual operating results were: Number of units produced Actual machine-hours Actual variable manufacturing overhead cost...
I need help with Part 6. Numbers 3 and 4
These are wrong and have a red mark next to
them
Plimpton Company produces countertop ovens. Plimpton uses a standard costing system. The standard costing system relies on direct labor hours to assign overhead costs to production. The direct labor standard indicates that two direct labor hours should be used for every oven produced. The normal production volume is 100,000 units. The budgeted overhead for the coming year is as...
1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances. Direct materials (resin).... ........... 13 pounds per pot at a cost of $3.00 per pound Direct labor ....4.0 hours at a cost of $12.00 per hour . . . . . . . . . . . . . . . . . . . ....
Most questions answered within 3 hours.
-
4. How many input & output Key Value Pairs are passed into,
and emitted out of...
asked 24 minutes ago -
B. If compound Y has approximately the same values of solubility
in toluene as compound X,...
asked 13 minutes ago -
Oscar Inc. has inventory in Japan valued at 39,051,000 Yen one
year ago. One year ago...
asked 20 minutes ago -
If Canada suffered from "fundamental disequilibrium," and its
government choose not to devalue its currency, a...
asked 28 minutes ago -
Why would your heart not function well if constructed of
skeletal muscle? What is the particular...
asked 32 minutes ago -
Please respond to this essay question in full essay form for
Chemistry 1102 Organic and Biochemistry:...
asked 32 minutes ago -
Determine the head loss and velocity of flow in a water supply main
of 15.0 cm...
asked 35 minutes ago -
A marketing executive who knowingly authorizes a shoddy
defective product to be brought to market is...
asked 43 minutes ago -
Write a psudocode:
1. Define a function called authorize that takes in 2 strings,
uName, and...
asked 48 minutes ago -
What Hall voltage (in mV) is produced by a 0.180 T field applied
across a 2.60...
asked 47 minutes ago -
What mass of ethylene glycol (C2H6O2) must be added to 211.0 g
of water to obtain...
asked 50 minutes ago -
Mary's employer has a defined benefits retirement plan, which
pay 3.2% of her last year's salary...
asked 53 minutes ago