Accounting 6. Answer incorrect box for thumbs up Cullumber's Style manufactures dining room tables for both home and restaurant locations. Mark Donald, the company's controller, developed the following standard costs for each 5-foot table. Ms. Donald developed these standards based on the company manufacturing 1,340 tables per month. Direct materials Direct labor Variable overhead Fixed overhead Total standard cost per table Standard Price $50.00 per linear foot 18.50 per DLH 16.20 per DLH 28.20 per DLH Standard Quantity 5.00 linear feet 12.00 DLH 12.00 DLH 12.00 DLH Standard Cost $250.00 222.00 194.40 338.40 $1.004.00 The company actually manufactured 1,240 tables during the month.
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
![Accounting
6. Answer incorrect box for thumbs up
Cullumber's Style manufactures dining room tables for both home and
restaurant locations. Mark Donald, the company's controller,
developed the following standard costs for each 5-foot table. Ms.
Donald developed these standards based on the company
manufacturing 1,340 tables per month.
Direct materials
Direct labor
Variable overhead
Fixed overhead
Total standard cost per table
.
Standard Price
$50.00 per linear foot
18.50 per DLH
16.20 per DLH
28.20 per DLH
Standard Quantity
5.00 linear feet
12.00 DLH
12.00 DLH
12.00 DLH
The company actually manufactured 1,240 tables during the
month.
6,040 linear feet of direct materials were purchased during the
month at a total cost of $258,512.
5,540 linear feet of direct materials were used to manufacture
the tables.
Direct material price variance
Standard Cost
$250.00
222.00
194.40
338.40
$1.004.80
15,540 direct labor hours were worked at a total cost of
$243,720.
Actual variable overhead was $266,000.
Actual fixed overhead was $411,900.
Calculate the direct material price variance for the month. (If
variance is zero, select "Not Applicable" and enter O for the
amounts.)
39888
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