Complete the problems listed below.
Chapter 9
Tonga Toys manufactures and distributes a number of products to retailers. One of these products, Playclay, requires seven kilograms of material A135 in the manufacture of each unit. The company is now planning raw materials needs for the third quarter – July, August, and September. Peak sales of Playclay occur in the third quarter of each year. To keep production and shipments moving smoothly, the company has the following inventory requirements:
A sales budget for Playclay for the last six months of the year follows:
Budgeted Sales |
|
July |
60,000 |
August |
80,000 |
September |
40,000 |
October |
45,000 |
November |
55,000 |
December |
30,000 |
Required:
Chapter 10
Correct answers for Chapter 10 must state whether the Variance is Favourable or Unfavourable.To receive full credityour answer mustbe labeled as such.
For example: An answer such as “- $4500”will not be given full credit, even if the number is correct. The same number shown as “$4500 Favourable”would receive full marks.
The following are independent questions:
Actual amount of direct materials purchased and used 20,000 kilograms
Actual direct material costs $40,000
Standard direct material costs $2.10 per kilogram
Calculate the direct materials price variance – 2 marks
Actual unit purchase price $6.50 per meter
Standard quantity allowed for actual production 2,100 meters
Quantity purchased and used for actual production 2,300 meters
Standard unit price $6.25 per meter
Calculate the materials usage variance – 2 marks
Standard labour hours per unit of output 1.7 hours
Standard labour rate $14.25 per hour
The following data pertains to operations concerning the product for the last month:
Actual hours worked 3,700 hours
Actual total labour cost $50,690
Actual output 2,300 units
Calculate the labour rate variance – 2 marks
Calculate the labour efficiency variance – 2 marks
Chapter 11
The following selected data pertain to the belt division of
Allen Corp. for last year:
Sales $500,000
Average Operating Assets $200,000
Turnover 2.5 times
Minimum required return 20.0%
Harstin Corporation has provided the following data:
Sales $625,000
Gross Margin $ 70,000
Operating
Income $
50,000
Shareholders’
Equity $ 90,000
Average Operating Assets $250,000
Residual Income $ 20,000
Compute the following:
Complete the problems listed below. Chapter 9 Tonga Toys manufactures and distributes a number of products...
Managerial Accounting: Operating budgets 1. Abe Toys, LLC manufactures and distributes a number or products to retailers. One of these products, Playclay, requires three pounds of materials A135 in the manufacture of each unit. The company is now planning raw materials needs for the third quarter - July, August, and September. Peak sales of Playclay occur in the third quarter of each year. To keep production and shipments moving smoothly, the company has the following inventory requirements: a. The finished...
Need completed in excel format Managerial Accounting: Operating budgets 1. Abe Toys, LLC manufactures and distributes a number or products to retailers. One of these products, Playclay, requires three pounds of materials A135 in the manufacture of each unit. The company is now planning raw materials needs for the third quarter - July, August, and September. Peak sales of Playclay occur in the third quarter of each year. To keep production and shipments moving smoothly, the company has the following...
Franklin Products Limited manufactures and distributes a number of products to retailers. One of these products, SuperStick, requires five kilograms of material D236 in the manufacture of each unit. The company is now planning raw materials needs for the third quarter-July, August, and September. Peak sales of SuperStick occur in the third quarter of each year. To keep production and shipments moving smoothly, the company has the following inventory requirements: a. The finished goods inventory on hand at the end...
Franklin Products Limited manufactures and distributes a number of products to retailers. One of these products, SuperStick, requires four kilograms of material D236 in the manufacture of each unit. The company is now planning raw materials needs for the third quarter-July, August, and September. Peak sales of SuperStick occur in the third quarter of each year. To keep production and shipments moving smoothly, the company has the following inventory requirements: a. The finished goods inventory on hand at the end...
Franklin Products Limited manufactures and distributes a number of products to retailers. One of these products, SuperStick, requires four kilograms of material D236 in the manufacture of each unit. The company is now planning raw materials needs for the third quarter-July, August, and September. Peak sales of SuperStick occur in the third quarter of each year. To keep production and shipments moving smoothly, the company has the following inventory requirements: a. The finished goods inventory on hand at the end...
Answer in excel Problems: 1. Benliver, Inc. manufactures and distributes a number or products to retailers. One of these products. Super Jetdry, requires two pounds of material R2D8 in the manufacture of each unit. The company is now planning raw materials needs for the third quarter - July August, and September. Peak sales of Super Jetdry occur in the third quarter of each year. To keep production and shipments moving smoothly, the company has the following inventory requirements: a. The...
Chapter 9 Assignment i Saved Problem 9-14 Production and Direct Materials Purchases Budgets (LO2] Franklin Products Limited manufactures and distributes a number of products to retailers. One of these products, SuperStick, requires four kilograms of material D236 in the manufacture of each unit. The company is now planning raw materials needs for the third quarter-July, August, and September. Peak sales of SuperStick occur in the third quarter of each year. To keep production and shipments moving smoothly, the company has...
Franklin Products Limited manufactures and distributes a number of products to retailers. One of these products, SuperStick, requires five kilograms of material D236 in the manufacture of each unit. The company is now planning raw materials needs for the third quarter—July, August, and September. Peak sales of SuperStick occur in the third quarter of each year. To keep production and shipments moving smoothly, the company has the following inventory requirements: The finished goods inventory on hand at the end of...
Toddler Toys manufactures and distributes a product called Playclay that requires three pounds of material A135 in the manufacture of each unit. The company is now planning raw materials needs for the third quarter. To keep production and shipments moving smoothly, the company has the following inventory requirements: 1. The raw materials inventory on hand at the end of each month must be equal to 5,000 pounds plus one- half of the following month's production needs for raw materials. The...
Managerial Accounting Benliver, Inc. manufactures and distributes a number or products to retailers. One of these products, Super Jetdry, requires two pounds of material R2D8 in the manufacture of each unit. The company is now planning raw materials needs for the third quarter - July, August, and September. Peak sales of Super Jetdry occur in the third quarter of each year. To keep production and shipments moving smoothly, the company has the following inventory requirements: a. b. The finished goods...