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 | _______ | ______ |
Homework Answers
| Work in Process (4500*12*7.5) | 405,000 | |
| Direct materials quantity Variance | 16,500 | |
| Materials (56,200*7.5) | 421,500 |
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units required 4,500 pounds, which were purchased at $3.00 per
pound, what is the direct materials (a) price variance, (b)
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Enter a favorable variance as a negative number using a minus sign
and an unfavorable variance as a positive number.
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Dvorak Company produces a product that requires 5 standard
pounds per unit. The standard price is $2.50 per pound. The company
produced 1,000 units that required 4,500 pounds, which were
purchased at $3.00 per pound. The product also requires 3 standard
hours per unit at a standard hourly rate of $17 per hour. The 1,000
units produced required 2,800 hours at an hourly rate of $16.50 per
hour. In addition, the standard variable overhead cost per unit is
$1.40 per...
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pounds per unit. The standard price is $2.50 per pound. If 1,000
units required 4,500 pounds, which were purchased at $3.00 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.
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fixed overhead cost per unit is $2.60 per hour at 11,300 hours,
which is 100% of normal capacity. Determine the fixed factory
overhead volume variance. Enter a favorable variance as a negative
number using a minus sign and an unfavorable variance as a positive
number.
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