Homework Answers
Material quantity variance
(Sqty -actual qty)*standard price
= (97000-99000)*$0.85
=-$1700
Material price variance
( Standard price - actual price)* actual qty
($0.85-$0.65)*99000
$ 19800
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The Donovan Restaurant Group manufactures the bags of frozen French fries used at its franchised restaurants....
The Jone Restaurant Group manufactures the bags of frozen French fries used at its franchised restaurants....
The Jone Restaurant Group manufactures the bags of frozen French fries used at its franchised restaurants. Last week, Jone's purchased and used 99,000 pounds of potatoes at a price of $0.75 per pound. During the week, 2,200 direct labor hours were incurred in the plant at a rate of $12.25 per hour. The standard price per pound of potatoes is $0.90, and the standard direct labor rate is $12.05 per hour. Standards indicate that for the number of bags of...
The Bergie Restaurant Group manufactures the bags of frozen French fries used at its franchised restaurants....
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The Morgan Restaurant Group manufactures the bags of baren French hes used at ds banchised restauwts last week. Mogan's purchased and used 103,000 pounds of poet es a prce of$0 65 per pound D...
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Please complete fully, thanks i Data Table Kimartin Fabrics manufactures a specialty monogrammed blanket. The following...
Please complete fully, thanks
i Data Table Kimartin Fabrics manufactures a specialty monogrammed blanket. The following are the cost standards for this blanket (Click the icon to view the standards.) Actual results from last month's production of 2,200 blankets are as follows: (Click the icon to view the actual results.) Direct materials (fabric) ............ Direct labor.... .... ....4.0 yards per blanket at $9.50 per yard ...... 1 direct labor hours per blanket at $11.00 per hour . Read the innents...
The Jone Restaurant Group manufactures the bags of frozen French fries used at its franchised restaurants. Last week, Jone's purchased and used 99,000 pounds of potatoes at a price of $0.75 per pound. During the week, 2,200 direct labor hours were incurred in the plant at a rate of $12.25 per hour. The standard price per pound of potatoes is $0.90, and the standard direct labor rate is $12.05 per hour. Standards indicate that for the number of bags of...
The Bergie Restaurant Group manufactures the bags of frozen French fries used at its franchised restaurants. Last week, Bergie's purchased and used 97,000 pounds of potatoes at a price of $0.70 per pound. During the week, 2,200 direct labor hours were incurred in the plant at a rate of $12.50 per hour. The standard price per pound of potatoes is $0.80, and the standard direct labor rate is $12.30 per hour. Standards indicate that for the number of bags of...
The Morgan Restaurant Group manufactures the bags of baren French hes used at ds banchised restauwts last week. Mogan's purchased and used 103,000 pounds of poet es a prce of$0 65 per pound During the week, ,800 direct labor hours wese incurred in the plant at a rate of $12 20 per hour. The standard price per pound of potatoes is $0.80, and the standard direct lao sate is $12.05 per hout Standads indicate that for the namber of bags...
Allan Products manufactures faux boulders to be used in various landscaping applications. A special resin is used to make the boulders. The standard quantity of resin used for each boulder is 17 pounds. Allan Products uses a standard cost of $2.30 per pound for the resin. The company produced 1,000 boulders in June. In that month, 16,400 pounds of resin were purchased at a total cost of $41,000. A total of 16,000 pounds were used in producing the boulderss in...
Flower City Ceramics produces large planters to be used in urban landscaping projects. A special earth clay is used to make the planters. The standard quantity of clay used for each planter is 31 pounds. The company uses a standard cost of $2.20 per pound of clay. Flower City produced 2,500 planters in May. In that month, 80,000 pounds of clay were purchased and used at the total cost of $168,000 Read the requirements. Requirement 1. Calculate the direct material...
FlowerMate is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) E: (Click the icon to view the actual results.) Requirements 1. Compute the direct material price variance and the direct material quantity variance. 2. Who is generally responsible for each variance? 3. Interpret the variances. Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive numbers. Enter currency...
Wright Foods processes bags of organic frozen fruits sold at specialty grocery stores. Click the icon to view additional information.) Read the requirements. Begin by determing the formula for the variable MOH rate variance, then calculate the variable overhead rate variance. (Enter the result as a positive number. Enter rates to two decimal places. Label the variance as favorable (F) or unfavorable (U).) Variable overhead rate variance ) = This variance tells managers that Wright Foods actually incurred on variable...
Purchased 41,800 yards at a total cost of $434,720 Used 38,800 yards in producing 1,900 awnings Actual direct labor cost of $67,100 for a total of 5,500 hours Actual variable MOH $22,550 Actual fixed MOH $47,800 Standards: Direct materials 21.0 yards per awning at $11.00 per yard Direct labor 3.0 hours per awning at $12.00 per hour Variable MOH standard rate $4.00 per direct labor hour Predetermined fixed MOH standard rate $8.00 per direct labor hour Total budgeted fixed MOH...
Please complete fully, thanks
i Data Table Kimartin Fabrics manufactures a specialty monogrammed blanket. The following are the cost standards for this blanket (Click the icon to view the standards.) Actual results from last month's production of 2,200 blankets are as follows: (Click the icon to view the actual results.) Direct materials (fabric) ............ Direct labor.... .... ....4.0 yards per blanket at $9.50 per yard ...... 1 direct labor hours per blanket at $11.00 per hour . Read the innents...
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