Advanced Micro Devices develops computing products. Assume one of its processors, Ryzen 9, has a standard labor time of 0.20 hour and a standard labor rate of $20 per hour. During March, the following activities pertaining to direct labor for Ryzen 9 were recorded: Direct labor hours used 60,000 Direct labor cost $1, 176, 000 Units of Ryzen 9 manufactured 310,000 Calculate the direct labor rate variance
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- Puzzle Company assembles puzzles for boutiques along the coast of Maine. Management estimates that the Company will incur $10,500 in manufacturing overhead and will work an average of seven labor hours during a day. Requirement #1 - Calculate the predetermined overhead rate using direct labor hours as the cost driver.Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.33 per micron Direct labor: 1.2 hours per toy at $7.10 per hour During July, the company produced 5,200 Maze toys. The toy's production data for the month are as follows: Direct materials 71,000 microns were purchased at a cost of $0.31 per micron. 25,500 of these microns were still in inventory at the end of the month. Direct labor. 6,640 direct labor-hours were worked at a cost of $51,128. Required: 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) a. The materials price and quantity…Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Direct materials Direct labor Standard Quantity or Hours 6.00 pounds 0.50 hours Standard Price or Hate $ 2.30 per pound $ 10.00 per hour During the most recent month, the following activity was recorded: a. 11,000.00 pounds of material were purchased at a cost of $2.10 per pound. b. All of the material purchased was used to produce 1,500 units of Zoom. c. 500 hours of direct labor time were recorded at a total labor cost of $6,500. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month. 1. Materials price variance 1. Materials quantity variance 2. Labor rate variance 2. Labor efficiency variance Standard Cost $13.80 $5.00 (For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None"…
- Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.33 per micron Direct labor: 1.1 hours per toy at $6.70 per hour During July, the company produced 5,000 Maze toys. The toy's production data for the month are as follows: Direct materials: 80,000 microns were purchased at a cost of $0.31 per micron. 42,500 of these microns were still in inventory at the end of the month. Direct labor. 5,800 direct labor-hours were worked at a cost of $40,600. Required: 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) a. The materials price and quantity…Javon Company set standards of 3 hours of direct labor per unit at a rate of $16.40 per hour. During October, the company actually uses 20,500 hours of direct labor at a $340,300 total cost to produce 7,000 units. In November, the company uses 24,500 hours of direct labor at a $407,925 total cost to produce 7,400 units of product. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate (1) Compute the direct labor rate variance, the direct labor efficiency variance, and the total direct labor variance for each of these two months. (2) Javon investigates variances of more than 5% of actual direct labor cost. Which direct labor variances will the company investigate further?Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds @ $4 per pound) Direct labor (3 hours @ $14 per hour) During June the company incurred the following actual costs to produce 8,700 units. Direct materials (133,500 pounds @ $3.70 per pound) $493,950 416,060 Direct labor (29,300 hours @ $14.20 per hour) AR = Actual Rate SR = Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price $60 42 (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance.
- A company uses the following standard costs to produce a single unit of output. 6 pounds at $0.60 per pound 0.5 hour at $9.00 per hour = 0.5 hour at $4.30 per hour = Direct materials Direct labor Manufacturing overhead During the latest month, the company purchased and used 57,000 pounds of direct materials at a price of $0.70 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $42,369 based on 4,870 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $18,500 and fixed manufacturing overhead incurred was $18,000. Based on this information, the direct labor efficiency variance for the month was: Multiple Choice $2,631 favorable $1,461 favorable $1,170 unfavorable $1,170 favorable $ 3.60 $ 4.50 $ 2.15 $1,461 unfavorableHernandez Corp. wants to compute its throughput for August. The following production data are available: Good units produced and sold 2,923,200 Total units produced 4,844,000 Total processing (in hours) 201,600 Value-added time (in hours) 50,300 a. Determine the manufacturing cycle efficiency. ______% b. Determine the process productivity. ______ units per hour c. Determine the process quality yield. ______% d. Determine the throughput using only good units and total time. ______ units per hourThe Orel manufactures products in two departments: Mixing and Packaging. The company allocates manufacturing overhead using a single plantwide rate with direct labor hours as allocation base. Estimated overheard costs for the year are $828,000, and estimated direcr labor hours are 360,000. In October, the company incurred 20,000 direct labor hours. Requirement 1. Compute the predetermined overhead allocation rate. Round to two decimal places. Begin by selecting the formula to calculate the predetermined overheard (OH) allocation rate. Then enter the amounts to compute the allocation rate. Requirement 2. Determine the amount of overheard allocated in October.Begin by selecting the formula to allocate overheard costs. The overheard allocated in October is _________
- Kingsport Containers Company makes a single product that is subject to wide seasonal variations in demand. The company uses a job-order costing system and computes plantwide predetermined overhead rates on a quarterly basis using the number of units to be produced as the allocation base. Its estimated costs, by quarter, for the coming year are given below: Quarter First Second Third Fourth Direct materials $ 200,000 $ 100,000 $ 50,000 $ 150,000 Direct labor 120,000 60,000 30,000 90,000 Manufacturing overhead 240,000 216,000 204,000 ? Total manufacturing costs (a) $ 560,000 $ 376,000 $ 284,000 $ ? Number of units to be produced (b) 120,000 60,000 30,000 90,000 Estimated unit product cost (a) ÷ (b) $ 4.67 $ 6.27 $ 9.47 $ ? Management finds the variation in quarterly unit product costs to be confusing. It has been suggested that the problem lies with manufacturing overhead because it is the largest element of total manufacturing cost. Accordingly, you have…Antuan Company set the following standard costs per unit for its product. Direct materials (6 pounds @ $5 per pound) $ 30 Direct labor (2 hours @ $17 per hour) 34 Overhead (2 hours @ $18.50 per hour). 37 Standard cost per unit $ 101 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials. $ 45,000 Indirect labor 180,000 Power 45,000 Maintenance 90,000 360,000 Total variable overhead costs Fixed overhead costs 24,000 Depreciation-Building Depreciation-Machinery 80,000 Taxes and insurance 12,000 Supervisory salaries. 79,000 Total fixed overhead costs 195,000 Total overhead costs $ 555,000 The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (91,000 pounds @ $5.10 per…The Ordon Company manufactures products in two departments: Mixing and Packaging. The company allocates manufacturing overhead using a single plantwide rate with direct labor hours as the allocation base. Estimated overhead costs for the year are $888,000, and estimated direct labor hours are 370,000. In October, the company incurred 45,000 direct labor hours. Read the requirements LOADING... . Requirement 1. Compute the predetermined overhead allocation rate. Round to two decimal places. Begin by selecting the formula to calculate the predetermined overhead (OH) allocation rate. Then enter the amounts to compute the allocation rate. Predetermined OH ÷ = allocation rate ÷ = Requirement 2. Determine the amount of overhead allocated in October. Begin by selecting the formula to allocate overhead costs. Allocated mfg. × = overhead…
