Homework Answers
1. Labour Variance should be based on Actual Output volume of 8900 dolls. Because the number of dolls produced is 8900 and the expenditure incurred for actual production and the standard rate for actual production is said to be the Variance.
2 & 3.
Add Answer to:
Walton's Doll Company produces handmade dolls. The standard amount of time spent on each doll is 1.50 hours. The standa...
Perez’s Doll Company produces handmade dolls. The standard amount of time spent on each doll is...
Perez’s Doll Company produces handmade dolls. The standard amount of time spent on each doll is 1.50 hours. The standard cost of labor is $7.73 per hour. The company planned to make 8,400 dolls during the year but actually used 13,100 hours of labor to make 9,900 dolls. The payroll amounted to $104,800. Required Should labor variances be based on the planned volume of 8,400 dolls or the actual volume of 9,900 dolls? Prepare a table that shows the standard...
Bonnie’s Doll Company produces handmade dolls. The standard amount of time spent on each doll is 2.0 hours. The standard...
Bonnie’s Doll Company produces handmade dolls. The standard amount of time spent on each doll is 2.0 hours. The standard cost of labor is $20 per hour. The company planned to make 8,000 dolls during the year but actually used 17,500 hours of labor to make 9,000 dolls. The payroll amounted to $344,750. Required Should labor variances be based on the planned volume of 8,000 dolls or the actual volume of 9,000 dolls? Prepare a table that shows the standard...
The following data were drawn from the records of Perez Corporation. Planned volume for year (static budget) Standard d...
The following data were drawn from the records of Perez Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 3,400 units 3.50 pounds @ $1.50 per pound 2.30 hours @ $3.30 per hour $14,620 3,900 units 3.10 pounds @ $2.00 per...
The following data were drawn from the records of Solomon Corporation. Planned volume for year (static...
The following data were drawn from the records of Solomon Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 4,100 units 4.00 pounds @ $1.60 per pound 2.10 hours @ $5.00 per hour $ 18,450 4,500 units 3.60 pounds @ $2.00...
Problem 8-25B Determining labor price and usage variances As noted in Problem 8-24B, Watonga Swimsuit makes...
Problem 8-25B Determining labor price and usage variances As noted in Problem 8-24B, Watonga Swimsuit makes swimsuits. In Year 2, Watonga produced its most popular swimsuit, the Sarong, for a standard labor price of $33.60 per hour. The standard amount of labor was 1.0 hour per swimsuit. The company had planned to produce 100,000 Sarong swimsuits. At the end of Year 2, the company’s cost accountant reported that Watonga had used 107,000 hours of labor to make 102,000 swimsuits. The...
The following data were drawn from the records of Campbell Corporation. Planned volume for year (static...
The following data were drawn from the records of Campbell Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 4,300 units 3.30 pounds @ $1.10 per pound 4.00 hours @ $3.20 per hour $17,200 4,700 units 2.90 pounds @ $1.60 per...
Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual...
Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow: Average number of roses per arrangement Price per rose Cost of roses per arrangement Standard 7.70 * $0.80 $6.16 Actual 8.00 * $0.75 $6.00 Monique's Florals planned to make 850 arrangements but actually made 990. Required a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b....
Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual...
Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow: Standard Actual Average number of roses per arrangement Price per rose 7.10 7.50 x $0.50 x $0.44 $3.55 $3.30 Cost of roses per arrangement Monique's Florals planned to make 820 arrangements but actually made 930 Required a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b....
Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual c...
Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow: Average number of roses per arrangement Price per rose Cost of roses per arrangement Standard 7.50 X $0.70 $5.25 Actual 7.80 $0.65 $5.07 Monique's Florals planned to make 840 arrangements but actually made 970. Required a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine...
Vernon Company manufactures molded candles that are finished by hand. The company developed the following standards...
Vernon Company manufactures molded candles that are finished by hand. The company developed the following standards for a new line of drip candles. Amount of direct materials per candle Price of direct materials per pound Quantity of labor per unit Price of direct labor per hour Total budgeted fixed overhead 1.30 pounds $ 0.70 1.50 hours $ 7.30/hour $ 128,800 During Year 2, Vernon planned to produce 23,000 drip candles. Production lagged behind expectations, and it actually produced only 16,000...
The following data were drawn from the records of Perez Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 3,400 units 3.50 pounds @ $1.50 per pound 2.30 hours @ $3.30 per hour $14,620 3,900 units 3.10 pounds @ $2.00 per...
The following data were drawn from the records of Solomon Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 4,100 units 4.00 pounds @ $1.60 per pound 2.10 hours @ $5.00 per hour $ 18,450 4,500 units 3.60 pounds @ $2.00...
The following data were drawn from the records of Campbell Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 4,300 units 3.30 pounds @ $1.10 per pound 4.00 hours @ $3.20 per hour $17,200 4,700 units 2.90 pounds @ $1.60 per...
Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow: Average number of roses per arrangement Price per rose Cost of roses per arrangement Standard 7.70 * $0.80 $6.16 Actual 8.00 * $0.75 $6.00 Monique's Florals planned to make 850 arrangements but actually made 990. Required a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b....
Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow: Standard Actual Average number of roses per arrangement Price per rose 7.10 7.50 x $0.50 x $0.44 $3.55 $3.30 Cost of roses per arrangement Monique's Florals planned to make 820 arrangements but actually made 930 Required a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b....
Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow: Average number of roses per arrangement Price per rose Cost of roses per arrangement Standard 7.50 X $0.70 $5.25 Actual 7.80 $0.65 $5.07 Monique's Florals planned to make 840 arrangements but actually made 970. Required a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine...
Vernon Company manufactures molded candles that are finished by hand. The company developed the following standards for a new line of drip candles. Amount of direct materials per candle Price of direct materials per pound Quantity of labor per unit Price of direct labor per hour Total budgeted fixed overhead 1.30 pounds $ 0.70 1.50 hours $ 7.30/hour $ 128,800 During Year 2, Vernon planned to produce 23,000 drip candles. Production lagged behind expectations, and it actually produced only 16,000...
Most questions answered within 3 hours.
-
The marketing class at CSUS had an average score of 150. An
educational analyst determined that...
asked 10 minutes ago -
Justin Case has purchased a $250 000 home by putting 20 % down
and taking out...
asked 21 minutes ago -
1. In a labor market, marginal cost for a firm is
____________.
a. recruiting cost
b....
asked 53 minutes ago -
On January 1, 2019, ABC Company issued $60,000,000 of 20-year,
10.5% bonds when the market rate...
asked 1 hour ago -
39.4% of US homes continue to use a landline in addition to cell
phone service. 3...
asked 1 hour ago -
Starting with benzene, synthesize 1-phenyl-1-butyne.
Show intermediates and reagents.
asked 2 hours ago -
Create a 32-run crossed array design with six control factors
and two noise factors such that...
asked 3 hours ago -
A 500g sample of sand from source A has the following amounts
retained on each sieve....
asked 3 hours ago -
In
your own words, please explain the essay by John Keynes wrote "The
End of Laissez...
asked 3 hours ago -
How are the matrix and pixels related? Why are smaller
pixels better for diagnostic quality?
asked 3 hours ago -
2. An AC generator has 80 rectangular loops on
its armature. Each loop is 11 cm...
asked 3 hours ago -
Please help me with this question. Consider Aldi’s current and
potential geographic markets (see Exhibit 4...
asked 3 hours ago