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10. Abrams, Inc., provides the following results of March's operations: Direct materials price variance ... Direct...
Exercise 21-1 Management by exception LO C1 Resset Co. provides the following results of April's operations:...
Exercise 21-1 Management by exception LO C1 Resset Co. provides the following results of April's operations: F indicates favorable and U indicates unfavorable. In applying management by exception, the company investigates all variances of $400 or more. Direct materials price variance Direct materials quantity variance $ 300 F Direct labor efficiency variance Controllable overhead variance Fixed overhead volume variance $2,200 F 400 U s00 F 3,000 U Direct labor rate variance 100 U Which variances will the company investigate? (You...
need help with the journal Materials Direct Materials Price Variance Direct materials (5 lbs. @ $2.60)...
need help with the journal
Materials Direct Materials Price Variance Direct materials (5 lbs. @ $2.60) Accounts Payable $13.00 Work in Process Direct labor (0.75 hr. @ $18.00) 13.50 Direct Materials Usage Variance Materials Fixed overhead (0.75 hr. @ $4.00) 3.00 Variable overhead (0.75 hr. @ $3.00) 2.25 Work in Process Direct Labor Efficiency Variance Direct Labor Rate Variance Wages Payable Standard cost per unit $31.75 Work in Process Variable Overhead Control Fixed Overhead Control Algers computes its overhead rates...
Based on the following information below: 1. Calculate the direct materials price and quantity variance. Please...
Based on the following information below:
1. Calculate the direct materials price and quantity variance.
Please note that the materials price variance is based on actual
material purchased and the quantity variance is based on material
used.
2. Calculate the direct labor rate and efficiency variances.
3. Calculate the variable overhead spending and efficiency
variances.
4. Calculate the fixed overhead budget variance.
Gourmet, Inc. prDduces containers of frozen food Duing October the company had the following actual production and costs...
Barley Hopp, Inc., manufactures custom-ordered glass windows. Its standard cost information follows: Standard Quantity Direct materials...
Barley Hopp, Inc., manufactures custom-ordered glass windows. Its standard cost information follows: Standard Quantity Direct materials (glass) 1.70 lbs. Direct labor 1.70 hrs. Variable manufacturing overhead (based on direct labor hours) 1.70 hrs. Fixed manufacturing overhead ($ 402,500.00 + 175,000.00 units) Standard Price Standard (Rate) Unit Cost $ 1.80 per lb. $ 3.06 $10.00 per hr. (8 01:00:30 $ 1.10 per hr. 1.87 2.30 Barley had the following actual results last year: Number of units produced and sold Number of...
10 material (day Direct labor Variable manufacturing overhead (based on direct labor hours) manufacturing overhead (5392,990.00...
10 material (day Direct labor Variable manufacturing overhead (based on direct labor hours) manufacturing overhead (5392,990.00 140,000.00 units 70 hrs. $ 1.1e per hr Barley Hopp had the following actual results last year 145,000 258,280 438,940 Number of units produced and sold Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor COS Variable overhead cost Fixed Overhead cost 190,- Salad 410,000 Required: 1. Calculate the direct materiais price, quantity and total spending variances...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows. Direct materials (clay)...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows. Direct materials (clay) Standard Quantity 1.70 lbs. Standard Standard Price (Rate) Unit Cost $ 1.89 $ 3.86 1.70 hrs. $ 10.00 per hr. 17.00 Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($346,500.00 + 165,000.00 units) per 1.70 hrs. $ 1.40 hr. 2.38 2.10 Barley Hopp had the following actual results last year Number of units produced and sold 170,000 Number of...
Based on the following information below: 1.Calculate the direct materials price and quantity variance. 2. Calculate...
Based on the following information below:
1.Calculate the direct materials price and quantity
variance.
2. Calculate the direct labor rate and efficiency variances.
3. Calculate the variable overhead spending and efficiency
variances.
4. Calculate the fixed overhead budget variance.
5. Pick out the two variances that you computed above that you
think should be further investigated. Explain why you picked these
2 variances and what might be the possible cause of the
variances.
Gourmet, Inc. produces containers of frozen food...
The roofing company manufactures shingles. Standard Cost Sheet per shingle 1.5 pounds $0.07 per pound direct labor Direct materials Asphalt 0.01 hour $11 per hour Direct labor Variable direct la...
The roofing company manufactures shingles. Standard Cost Sheet per shingle 1.5 pounds $0.07 per pound direct labor Direct materials Asphalt 0.01 hour $11 per hour Direct labor Variable direct labor Manufacturing $2 per hour 0.01 hour overhead Fixed direct labor Manufacturing 0.01 hour $10 per hour overhead Total standard cost per shingle $60,000 600,000 Units 6000 direct labor hours Budgeted fixed manufacturing overhead for the period is Budgeted units to be produced Standard fixed manufacturing overhead based on expected capacity...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay)...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($273,000.00 = 105,000.00 units) Standard Quantity 1.60 lbs. 1.60 hrs. 1.60 hrs. Standard Price (Rate) $ 1.70 per lb. $ 10.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 2.72 16.00 1.76 2.60 Barley Hopp had the following actual results last year: Number of units produced and sold Number...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay)...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($356,500.00 = 155,000.00 units) Standard Quantity 1.70 lbs. 1.70 hrs. 1.70 hrs. Standard Price (Rate) $ 1.80 per lb. $13.00 per hr. $ 1.40 per hr. Standard Unit Cost $ 3.06 22.10 2.38 2.30 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
Exercise 21-1 Management by exception LO C1 Resset Co. provides the following results of April's operations: F indicates favorable and U indicates unfavorable. In applying management by exception, the company investigates all variances of $400 or more. Direct materials price variance Direct materials quantity variance $ 300 F Direct labor efficiency variance Controllable overhead variance Fixed overhead volume variance $2,200 F 400 U s00 F 3,000 U Direct labor rate variance 100 U Which variances will the company investigate? (You...
need help with the journal
Materials Direct Materials Price Variance Direct materials (5 lbs. @ $2.60) Accounts Payable $13.00 Work in Process Direct labor (0.75 hr. @ $18.00) 13.50 Direct Materials Usage Variance Materials Fixed overhead (0.75 hr. @ $4.00) 3.00 Variable overhead (0.75 hr. @ $3.00) 2.25 Work in Process Direct Labor Efficiency Variance Direct Labor Rate Variance Wages Payable Standard cost per unit $31.75 Work in Process Variable Overhead Control Fixed Overhead Control Algers computes its overhead rates...
Based on the following information below:
1. Calculate the direct materials price and quantity variance.
Please note that the materials price variance is based on actual
material purchased and the quantity variance is based on material
used.
2. Calculate the direct labor rate and efficiency variances.
3. Calculate the variable overhead spending and efficiency
variances.
4. Calculate the fixed overhead budget variance.
Gourmet, Inc. prDduces containers of frozen food Duing October the company had the following actual production and costs...
Barley Hopp, Inc., manufactures custom-ordered glass windows. Its standard cost information follows: Standard Quantity Direct materials (glass) 1.70 lbs. Direct labor 1.70 hrs. Variable manufacturing overhead (based on direct labor hours) 1.70 hrs. Fixed manufacturing overhead ($ 402,500.00 + 175,000.00 units) Standard Price Standard (Rate) Unit Cost $ 1.80 per lb. $ 3.06 $10.00 per hr. (8 01:00:30 $ 1.10 per hr. 1.87 2.30 Barley had the following actual results last year: Number of units produced and sold Number of...
10 material (day Direct labor Variable manufacturing overhead (based on direct labor hours) manufacturing overhead (5392,990.00 140,000.00 units 70 hrs. $ 1.1e per hr Barley Hopp had the following actual results last year 145,000 258,280 438,940 Number of units produced and sold Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor COS Variable overhead cost Fixed Overhead cost 190,- Salad 410,000 Required: 1. Calculate the direct materiais price, quantity and total spending variances...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows. Direct materials (clay) Standard Quantity 1.70 lbs. Standard Standard Price (Rate) Unit Cost $ 1.89 $ 3.86 1.70 hrs. $ 10.00 per hr. 17.00 Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($346,500.00 + 165,000.00 units) per 1.70 hrs. $ 1.40 hr. 2.38 2.10 Barley Hopp had the following actual results last year Number of units produced and sold 170,000 Number of...
Based on the following information below:
1.Calculate the direct materials price and quantity
variance.
2. Calculate the direct labor rate and efficiency variances.
3. Calculate the variable overhead spending and efficiency
variances.
4. Calculate the fixed overhead budget variance.
5. Pick out the two variances that you computed above that you
think should be further investigated. Explain why you picked these
2 variances and what might be the possible cause of the
variances.
Gourmet, Inc. produces containers of frozen food...
The roofing company manufactures shingles. Standard Cost Sheet per shingle 1.5 pounds $0.07 per pound direct labor Direct materials Asphalt 0.01 hour $11 per hour Direct labor Variable direct labor Manufacturing $2 per hour 0.01 hour overhead Fixed direct labor Manufacturing 0.01 hour $10 per hour overhead Total standard cost per shingle $60,000 600,000 Units 6000 direct labor hours Budgeted fixed manufacturing overhead for the period is Budgeted units to be produced Standard fixed manufacturing overhead based on expected capacity...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($273,000.00 = 105,000.00 units) Standard Quantity 1.60 lbs. 1.60 hrs. 1.60 hrs. Standard Price (Rate) $ 1.70 per lb. $ 10.00 per hr. $ 1.10 per hr. Standard Unit Cost $ 2.72 16.00 1.76 2.60 Barley Hopp had the following actual results last year: Number of units produced and sold Number...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($356,500.00 = 155,000.00 units) Standard Quantity 1.70 lbs. 1.70 hrs. 1.70 hrs. Standard Price (Rate) $ 1.80 per lb. $13.00 per hr. $ 1.40 per hr. Standard Unit Cost $ 3.06 22.10 2.38 2.30 Barley Hopp had the following actual results last year: Number of units produced and sold Number of...
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