--/1Question 9View PoliciesCurrent Attempt in ProgressCrane Company produces a product requiring 3 direct laborhours at $16.00 per hour. During January, 1800 productsare produced using 6000 direct labor hours. Crane's actualpayroll during January was $93600. What is the laborquantity variance?O $7200 UO $9600 UO $9600 F$2400 Fhp110f9f81716154+10

Direct labor quantity variance is also known as direct labour efficiency variance. It measures the…

Answered: --/1 Question 9 View Policies Current…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question 5 Emma Co manufactures electric motors. The company expects to sell 440 units in June and 585 units in July. Beginning and ending finished goods for June is expected to be 40 and 95 units, respectively. July's ending finished goods is expected to be 125 units. The company's variable manufacturing overhead is $4 per unit produced and its fixed manufacturing overhead is $6220 per month. Emma's manufacturing overhead budget for July $ tiap. 5.0
QUESTION 4 (S) 20 Direct material cost: ($) 20 Direct labor cost: 10 The following anticipated data are for the next year of operations: Per unit Variable production overhead 10 Variable nonproduction overhead 5 They are estimated the fixed production overhead; fixed nonproduction overhead of 5'mil 0.9 and 5'mil 0.1 respectively. There is no opening inventory; budgeted production and sales volume is 120,000 units. Requirements: 1. Compute product cost under absorption costing and unit selling price if the markup percentage is 50% of product cost. 2. If the company want to achieve target net income of $'mil 3.6, how many percentages of margin on variable cost should be applied
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--/1 Question 16 View Policies Current Attempt in Progress Clark Company manufactures a product with a standard direct labor cost of two hours at $18 per hour. During July, 1400 units were produced using 3200 hours at $18.30 per hour. The labor quantity variance was port O $7320 U. O $7320 F. O $7200 U. O $6480 U. hp ins fiu f10 prt s fg f7 f8 f6 f5 +. & 96. 80 7 %D Y н TO 96
eBook Question Content Area Ellis Company’s labor information for September is as follows: Direct labor hourly rate paid $31.00 Total standard direct labor hours for units produced 10,000.00 Direct labor hours worked 9,850.00 Direct labor rate variance $6,895.00 (favorable) Round your answers to two decimal places. A. Compute the standard direct labor rate per hour. $fill in the blank 1 standard rate B. Compute the direct labor time variance. Direct labor time variance $fill in the blank 2 C. Compute the standard direct labor rate if the direct labor rate variance was $2,462.50 (unfavorable). $fill in the blank 4 standard labor rate
E 8-17 Calculating factory overhead: two variances Munoz Manufacturing Co. normally produces 10,000 units of product X each month. Each unit requires 2 hours of direct labor, and factory overhead is applied on a direct labor hour basis. Fixed costs and variable costs in factory overhead at the normal capacity are $2.50 and $1.50 per direct labor hour, respectively. Cost and production data for May follow: Production for the month. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9,000 units Direct labor hours used . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18,500 hours Factory overhead incurred for: Variable costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$28,500 Fixed costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $52,000 a. Calculate the flexible-budget variance. b. Calculate the production-volume variance. c. Was the total factory overhead under- or overapplied? By what amount? Use this…
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QUESTION A company manufactures a food product data for which for one week has been analyzed as follows:Standard cost data: KDirect materials: 10 units at K1.50 15Direct wages: 5 hours at K4.00 20Production overhead: 5 hours at K5.00 2560Other overhead may be ignored.Profit margin is 20% of sales Price.Budgeted sales are K30,000 per week.Actual data:Sales K29,880Direct materials K6,435Direct wages K8,162Analysis of variances;Adverse FavourableDirect materials price 585Usage 375Direct labour: rate 318Efficiency 180Production overhead: expenditure 200Volume 375BBAC 212 ASSIGNMENT ONE SEMISTER 2 2021It can be assumed that the production and sales achieved resulted in no changes of stock.REQUIRED;From the data given, to calculate: (i) the actual output; (ii) the actual profit; (iii) the actualn price per unit of material (iv) actual labour rate per hour; (v) the amount of production overhead incurred; (vi) the amount of overhead absorbed; (vii) the amount of production efficiency variance;…
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Question 6 View Policies Current Attempt in Progress Crane Company determines that 59000 pounds of direct materials are needed for production in July. There are 3700 pounds of direct materials on hand at July 1 and the desired ending inventory is 3300 pounds. If the cost per unit of direct materials is $3, what is the budgeted total cost of direct materials purchases? ort $175800 O $180600. O $178200. O $173400. ea Chp ins prt sc fho 12 home delete % 5 & 7 backspace lock T P hom G H K enter B pause t shift ctri NM N
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--/1 Question 22 View Policies Current Attempt in Progress The predetermined overhead rate for Coronado Industries is $5, comprised of a variable overhead rate of $3 and a fixed rate of $2. The amount of budgeted overhead costs at normal capacity of $150000 was divided by normal capacity of 30000 direct labor hours, to arrive at the predetermined overhead rate of $5. Actual overhead for June was $12680 variable and $8040 fixed, and standard hours allowed for the product produced in June was 4000 port hours. The total overhead variance is O $720 F. O $4040 F. O $4040 U. O $720 U. hp ins f12 f11 f10 prt sc f9 144 f8 f7 f6 f5 4+ 8 %3D C 60 To 96

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