857 es Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Direct labor Standard Quantity ounces gallons hour 2 18 1.2 Required 1 Required 2 Standard Rate $0.30 per ounces $0.05 per gallons $11.00 per hour During the month of July, Collin's employees gave 380 baths. The actual results were 740 ounces of shampoo used (cost of $259.00). 6,800 gallons of water used (cost of $544), and labor costs for 320 hours (cost of $3,840). Standard Unit Cost Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. Complete this question by entering your answers in the tabs below. Direct Material Price Variance Direct Material Quantity Variance 50.60 0.90 13.20 Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. Note: Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Shampoo Water < Required 1 Required 2 >
857 es Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Direct labor Standard Quantity ounces gallons hour 2 18 1.2 Required 1 Required 2 Standard Rate $0.30 per ounces $0.05 per gallons $11.00 per hour During the month of July, Collin's employees gave 380 baths. The actual results were 740 ounces of shampoo used (cost of $259.00). 6,800 gallons of water used (cost of $544), and labor costs for 320 hours (cost of $3,840). Standard Unit Cost Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. Complete this question by entering your answers in the tabs below. Direct Material Price Variance Direct Material Quantity Variance 50.60 0.90 13.20 Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. Note: Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Shampoo Water < Required 1 Required 2 >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:857
es
Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog
bath given:
Shampoo
Water
Direct labor
Standard Quantity
ounces
gallons
hour
2
18
1.2
Required 1 Required 2
Standard Rate
$0.30 per ounces
$0.05 per gallons
$11.00
per hour
During the month of July, Collin's employees gave 380 baths. The actual results were 740 ounces of shampoo used (cost of $259.00).
6,800 gallons of water used (cost of $544), and labor costs for 320 hours (cost of $3,840).
Standard Unit
Cost
Required:
1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July.
2. Calculate Suds & Cuts, direct labor variances for the month of July.
Complete this question by entering your answers in the tabs below.
Direct Material Price Variance
Direct Material Quantity Variance
$0.60
0.90
13.20
Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July.
Note: Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by
selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).
Shampoo
Water
Required 1
Required 2 >
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