Solution 1:
Standard Quantity or Hours | Standard Price or Rate | Standard Cost | |||
Alpha6: | |||||
Direct materials-X442 | 3.00 | kilos | 2.30 | per kilo | 6.90 |
Direct materials-Y661 | 2.00 | liters | 1.30 | per liter | 2.60 |
Direct labor-Sintering | 0.30 | hours | 23.00 | per hour | 6.90 |
Direct labor-Finishing | 1.20 | hours | 19.50 | per hour | 23.40 |
Total | 39.80 | ||||
Zeta7: | |||||
Direct materials-X442 | 5.00 | kilos | 2.30 | per kilo | 11.50 |
Direct materials-Y661 | 4.00 | liters | 1.30 | per liter | 5.20 |
Direct labor-Sintering | 0.40 | hours | 23.00 | per hour | 9.20 |
Direct labor-Finishing | 1.20 | hours | 19.50 | per hour | 23.40 |
Total | 49.30 |
Solution 2:
Direct Materials Variances | ||
Direct Materials Variances-Material X442: | ||
Materials price variance | $2,980 | U |
Materials quantity variance | $230 | F |
Direct Materials Variances-Material Y661: | ||
Materials price variance | $1,590 | F |
Materials quantity variance | $8,970 | U |
Working:
Material X442: Price Variance | ||||||
Actual Cost (Purchased) | Standard cost for actual quantity | |||||
AQ | * | AP | AQ | * | SP | |
14900 | * | $2.50 | 14900 | * | $2.30 | |
$37,250 | $34,270 | |||||
$2,980 | U | |||||
Material X442: Quantity Variance | ||||||
Standard cost for actual quantity (Used) | Standard Cost | |||||
AQ | * | SP | SQ | * | SP | |
9400 | * | $2.30 | 9500 | * | $2.30 | |
$21,620 | $21,850 | |||||
$230 | F |
Material Y661: Price Variance | ||||||
Actual Cost (Purchased) | Standard cost for actual quantity | |||||
AQ | * | AP | AQ | * | SP | |
15900 | * | $1.20 | 15900 | * | $1.30 | |
$19,080 | $20,670 | |||||
$1,590 | F | |||||
Material Y661: Quantity Variance | ||||||
Standard cost for actual quantity (Used) | Standard Cost | |||||
AQ | * | SP | SQ | * | SP | |
13900 | * | $1.30 | 7000 | * | $1.30 | |
$18,070 | $9,100 | |||||
$8,970 | U |
Solution 3:
Direct Labor Variances | ||
Direct Labor Variances-Sintering: | ||
Labor rate variance | $250 | U |
Labor efficiency variance | $1,150 | U |
Direct Labor Variances-Finishing: | ||
Labor rate variance | $5,880 | U |
Labor efficiency variance | $1,170 | F |
Working:
Sintering: Direct Labor Variances | ||||||||||
Actual Cost | Standard cost for actual quantity | Standard Cost | ||||||||
AH | * | AR | AH | * | SR | SH | * | SR | ||
1250 | * | $23.20 | 1250 | * | $23.00 | 1200 | * | $23.00 | ||
$29,000 | $28,750 | $27,600 | ||||||||
$250 | U | $1,150 | U | |||||||
Finishing: Direct Labor Variances | ||||||||||
Actual Cost | Standard cost for actual quantity | Standard Cost | ||||||||
AH | * | AR | AH | * | SR | SH | * | SR | ||
2940 | * | $21.50 | 2940 | * | $19.50 | 3000 | * | $19.50 | ||
$63,210 | $57,330 | $58,500 | ||||||||
$5,880 | U | $1,170 | F |
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Mickley Corporation produces two products, Alphabs and Zeta7s, which pass through two operations. Sintering and Finishing. Each of the products uses two raw materials, X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Product Alpha 6 Zeta7 Raw Material X442 Y661 2.0 kilos 1.5 liters 3.0 kilos 4.5 liters Standard Labor Time Sintering Finishing 0.10 hours 1.00 hours 0.30 hours 0.80 hours Information relating to materials purchased...
Please help me out!!! Mickley Corporation produces two products, Alphabs and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Product Alpha 6 Zeta 7 Raw Material X442 Y661 3.0 kilos 2.0 liters 5.0 kilos 4.0 liters Standard Labor Time Sintering Finishing 0.30 hours 1.20 hours 0.40 hours 1.20 hours Information...
Problem 10-10 (Algo) Multiple Products, Materials, and Processes [LO10-1, LO10-2] Mickley Corporation produces two products, Alphabs and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Product Alpha 6 Zeta 7 Raw Material X442 Y661 2.0 kilos 1.5 liters 3.0 kilos 2.5 liters Standard Labor Time Sintering Finishing 0.10 hours 0.80...
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