afloat Corporation manufactures rafts for use in swimming pools. The standard cost for material and labor is $93.00 p This includes 8 kilograms of direct material at a standard cost of $6.00 per kilogram, and 5 hours 00 per hour. The following data pertain to November: direct labor at Vork-in-process inventory on November 1: none. Vork-in-process inentory on November 30: 880 units (75 percent complete as to labor; material is issued at the eginning of processing). Units completed: 6,600 units. Purchases of materials: 51,000 kilograms for $303,450. Total actual labor costs: $327,520. Actual hours of labor: 35,600 hours. Direct-material quantity variance: $2,400 unfavorable. quired: Compute the following amounts. Direct-labor rate variance for November. Direct-labor efficiency variance for November. Actual kilograms of material used in the production process during November. Actual price paid per kilogram of direct material in November. Total amounts of direct-material and direct-labor cost transferred to Finished-Goods Inventory during November. The total amount of direct-material and direct-labor cost in the ending balance of Work-in-Process lnyentont at tho
afloat Corporation manufactures rafts for use in swimming pools. The standard cost for material and labor is $93.00 p This includes 8 kilograms of direct material at a standard cost of $6.00 per kilogram, and 5 hours 00 per hour. The following data pertain to November: direct labor at Vork-in-process inventory on November 1: none. Vork-in-process inentory on November 30: 880 units (75 percent complete as to labor; material is issued at the eginning of processing). Units completed: 6,600 units. Purchases of materials: 51,000 kilograms for $303,450. Total actual labor costs: $327,520. Actual hours of labor: 35,600 hours. Direct-material quantity variance: $2,400 unfavorable. quired: Compute the following amounts. Direct-labor rate variance for November. Direct-labor efficiency variance for November. Actual kilograms of material used in the production process during November. Actual price paid per kilogram of direct material in November. Total amounts of direct-material and direct-labor cost transferred to Finished-Goods Inventory during November. The total amount of direct-material and direct-labor cost in the ending balance of Work-in-Process lnyentont at tho
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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