During May, Joliet Fabrics Corporation manufactured 650 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May.
| Direct material purchased: 19,500 yards at $1.53 per yard | $ | 29,835 | |
| Direct material used: 11,000 yards at $1.53 per yard | 16,830 | ||
| Direct labor: 3,600 hours at $9.30 per hour | 33,480 | ||
The standard prime costs for one unit of Stylex are as follows:
| Direct material: 20 yards at $1.50 per yard | $ | 30.00 | |
| Direct labor: 4 hours at $9.00 per hour | 36.00 | ||
| Total standard prime cost per unit of output | $ | 66.00 | |
Required:
Compute the following variances for the month of May. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).
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During May, Joliet Fabrics Corporation manufactured 650 units of
a special multilayer fabric with the trade...
During May, Joliet Fabrics Corporation manufactured 560 units of a special multilayer fabric with the trade...
During May, Joliet Fabrics Corporation manufactured 560 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May. Direct material purchased: 18,600 yards at $1.44 per yard Direct material used: 10,100 yards at $1.44 per yard Direct labor: 2,700 hours at $9.21 per hour $ 26,784 14,544 24,867 The standard prime costs for one unit of Stylex are as follows: Direct material: 20 yards at $1.41 per yard...
During May, Joliet Fabrics Corporation manufactured 570 units of a special multilayer fabric with the trade...
During May, Joliet Fabrics Corporation manufactured 570 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May. Direct material purchased: 18,700 yards at $1.45 per yard Direct material used: 10,200 yards at $1.45 per yard Direct labor: 2,800 hours at $9.22 per hour $ 27,115 14,790 25,816 The standard prime costs for one unit of Stylex are as follows: Direct material: 20 yards at $1.42 per yard...
During May, Joliet Fabrics Corporation manufactured 600 units of a special multilayer fabric with the trade...
During May, Joliet Fabrics Corporation manufactured 600 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May. Direct material purchased: 19,000 yards at $1.48 per yard Direct material used: 10,500 yards at $1.48 per yard Direct labor: 3,100 hours at $9.25 per hour $ 28,120 15,540 28,675 The standard prime costs for one unit of Stylex are as follows Direct material: 20 yards at $1.45 per yard...
During May. Joliet Fabrics Corporation manufactured 500 units of a special multilayer fabric with the trade...
During May. Joliet Fabrics Corporation manufactured 500 units of a special multilayer fabric with the trade name Styler. The following information from the Stylex production department also pertains to Me Problem 10-35 Direct Material and Direct Labor Valances (LO 10-1, 10-31 3. Direct de la Duchas price variance 5540U Dred material purchased 18.000 yards #5138 peyard Dired materal used 9.500 yards at 51.33 per yerd Dired labor 2,100 hours 2 59.15 per hour - 52430 13.110 18215 The standard prime...
Part 1, 2, & 3 Check my work During May. Joliet Fabrics Corporation manuf nformation from...
Part 1, 2, & 3
Check my work During May. Joliet Fabrics Corporation manuf nformation from the Stylex production department also pertains t octured 620 unts floyer fabric with the trade name Stylex The tollowing Direet material purchased: 19,200 yards at $1.50 per yard Direct material used: 10,700 yards at $1.50 per yard Direct labor: 3,300 hours at $9.27 per hour $ 28,800 16,050 30,591 The standard prime costs for one unit of Stylex are as follows Direct material: 20...
New Jersey Valve Company manufactured 8,300 units during January of a control valve used by milk...
New Jersey Valve Company manufactured 8,300 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following: Direct labor Direct material purchased Direct material used 34,100 hr. at $14.80 per hr. 29,000 lb. at $3.20 per lb. 24,600 lb. The control valve has the following standard prime costs: Direct material 3 lb. at $3.10 per lb. Direct labor 4 hr. at $15.20 per hr. Standard prime cost per unit $ 9.30 60.80...
New Jersey Valve Company manufactured 7,000 units during January of a control valve used by milk...
New Jersey Valve Company manufactured 7,000 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following: Direct labor 36,100 hr. at $14.70 per hr. Direct material purchased 28,000 lb. at $2.20 per lb. Direct material used 26,000 lb. The control valve has the following standard prime costs: Direct material 4 lb. at $2.10 per lb. $ 8.40 Direct labor 5 hr. at $15.10 per hr. 75.50 Standard prime cost...
New Jersey Valve Company manufactured 7,600 units during January of a control valve used by milk processors in its Camd...
New Jersey Valve Company manufactured 7,600 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following: Direct labor Direct material purchased Direct material used 46,800 hr. at $15.20 per hr. 29,000 lb. at $2.40 per lb 28,300 lb The control valve has the following standard prime costs: Direct material Direct labor 4 lb. at $2.30 per lb. 6 hr. at $15.60 per hr $ 9.20 93,60 $102.80 Standard prime cost per...
Orion Corporation has established the following standards for the prime costs of one unit of its...
Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards. Direct material Direct labor Total Standard Quantity 6.00 pounds 0.30 hour Standard Price or Rate $1.10 per pound $6.00 per hour Standard Cost $ 6.60 1.80 $ 8.40 During June, Orion purchased 227,000 pounds of direct material at a total cost of $274,670. The total wages for June were $72,576, 75 percent of which were for direct labor. Orion manufactured 36,000...
During June, Danby Company's material purchases amounted to 6,400 pounds at a price of $7.70 per...
During June, Danby Company's material purchases amounted to 6,400 pounds at a price of $7.70 per pound. Actual costs incurred in the production of 1,500 units were as follows: Direct labor: Direct material: $126,725 ($18.50 per hour) $ 35,420 ($7.70 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 4 hours per unit Rate, $18.40 per hour Direct Material: Quantity, 3 pounds per unit Price, $7.40 per pound Required: Compute the direct-material...
During May, Joliet Fabrics Corporation manufactured 560 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May. Direct material purchased: 18,600 yards at $1.44 per yard Direct material used: 10,100 yards at $1.44 per yard Direct labor: 2,700 hours at $9.21 per hour $ 26,784 14,544 24,867 The standard prime costs for one unit of Stylex are as follows: Direct material: 20 yards at $1.41 per yard...
During May, Joliet Fabrics Corporation manufactured 570 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May. Direct material purchased: 18,700 yards at $1.45 per yard Direct material used: 10,200 yards at $1.45 per yard Direct labor: 2,800 hours at $9.22 per hour $ 27,115 14,790 25,816 The standard prime costs for one unit of Stylex are as follows: Direct material: 20 yards at $1.42 per yard...
During May, Joliet Fabrics Corporation manufactured 600 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May. Direct material purchased: 19,000 yards at $1.48 per yard Direct material used: 10,500 yards at $1.48 per yard Direct labor: 3,100 hours at $9.25 per hour $ 28,120 15,540 28,675 The standard prime costs for one unit of Stylex are as follows Direct material: 20 yards at $1.45 per yard...
During May. Joliet Fabrics Corporation manufactured 500 units of a special multilayer fabric with the trade name Styler. The following information from the Stylex production department also pertains to Me Problem 10-35 Direct Material and Direct Labor Valances (LO 10-1, 10-31 3. Direct de la Duchas price variance 5540U Dred material purchased 18.000 yards #5138 peyard Dired materal used 9.500 yards at 51.33 per yerd Dired labor 2,100 hours 2 59.15 per hour - 52430 13.110 18215 The standard prime...
Part 1, 2, & 3
Check my work During May. Joliet Fabrics Corporation manuf nformation from the Stylex production department also pertains t octured 620 unts floyer fabric with the trade name Stylex The tollowing Direet material purchased: 19,200 yards at $1.50 per yard Direct material used: 10,700 yards at $1.50 per yard Direct labor: 3,300 hours at $9.27 per hour $ 28,800 16,050 30,591 The standard prime costs for one unit of Stylex are as follows Direct material: 20...
New Jersey Valve Company manufactured 8,300 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following: Direct labor Direct material purchased Direct material used 34,100 hr. at $14.80 per hr. 29,000 lb. at $3.20 per lb. 24,600 lb. The control valve has the following standard prime costs: Direct material 3 lb. at $3.10 per lb. Direct labor 4 hr. at $15.20 per hr. Standard prime cost per unit $ 9.30 60.80...
New Jersey Valve Company manufactured 7,600 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following: Direct labor Direct material purchased Direct material used 46,800 hr. at $15.20 per hr. 29,000 lb. at $2.40 per lb 28,300 lb The control valve has the following standard prime costs: Direct material Direct labor 4 lb. at $2.30 per lb. 6 hr. at $15.60 per hr $ 9.20 93,60 $102.80 Standard prime cost per...
Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards. Direct material Direct labor Total Standard Quantity 6.00 pounds 0.30 hour Standard Price or Rate $1.10 per pound $6.00 per hour Standard Cost $ 6.60 1.80 $ 8.40 During June, Orion purchased 227,000 pounds of direct material at a total cost of $274,670. The total wages for June were $72,576, 75 percent of which were for direct labor. Orion manufactured 36,000...
During June, Danby Company's material purchases amounted to 6,400 pounds at a price of $7.70 per pound. Actual costs incurred in the production of 1,500 units were as follows: Direct labor: Direct material: $126,725 ($18.50 per hour) $ 35,420 ($7.70 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 4 hours per unit Rate, $18.40 per hour Direct Material: Quantity, 3 pounds per unit Price, $7.40 per pound Required: Compute the direct-material...
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