Assume the following (quantity of materials purchased = quantity of materials used): Standards: • Material price = $5 per pound ⚫ Labor hours = 3 hours per unit Labor rate = $10 per hour Variances: • Material quantity = $500 U • Material price = $200 F ⚫ Labor efficiency = $900 F Actual results: . Material price = $4.80 per pound ⚫ Labor hours = 2,700 hours ⚫ Labor rate = $11 per hour What is the total standard quantity of materials allowed for the actual level of output?

Assume the following (quantity of materials purchased = quantity of materials used): Standards: • Material price = $5 per pound ⚫ Labor hours = 3 hours per unit Labor rate = $10 per hour Variances: • Material quantity = $500 U • Material price = $200 F ⚫ Labor efficiency = $900 F Actual results: . Material price = $4.80 per pound ⚫ Labor hours = 2,700 hours ⚫ Labor rate = $11 per hour What is the total standard quantity of materials allowed for the actual level of output?

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter6: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 2DQ: Which of the following costs would be classified as variable and which would be classified as fixed,...

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Assume the following (quantity of materials purchased = quantity of materials used): Standards: Material price $4 per pound Labor hours 2 hours per unit Labor rate $11 pr hour Variances: Material quantity $400 U Material price $300 F Labor efficiency $1,100 F Actual results: Material price $3.80 per pound Labor hours 1,500 hours $12 per hour Labor rate What is the total standard quantity of materials allowed for the actual level of output? A. 1,200 pounds B. 1,400 pounds C. 1,800 pounds D. 2,200 pounds E. None of the above.
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The cost of materials for product A are as follows. Material W: $2,250 Material X: $3,000 Material Y: $3,600 Material Z: $150 If the material proportions were displayed on a pie chart, how many degrees would material Y represent? A 90 degrees B 120 degrees C 144 degrees D 204 degrees
Which of the following is an example of a direct labor cost standard? A. 0.5 direct labor hours per unit B. $0.95 per square foot C. $40 per direct labor hour D. 50 square feet per unit
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What is the standard labor cost per output unit?
Benoit Company produces three products, A, B, and C. Data concerning the three products follow (per unit): Product Selling price 70 2$ 50 60 Variable expenses: Direct materials 21.00 15.00 4.20 Other variable 21.00 22.50 37.80 expenses Total variable 42.00 37.50 42.00 expenses Contribution margin $28.00 $ 12.50 $ 18.00 Contribution margin ratio 40% 25% 30% Demand for the company's products is very strong, with far more orders each month than the company can produce with the available raw materials. The same material is used in each product. The material costs $6 per pound with a maximum of 4,000 pounds available each month. %24
Which of the following costs would be classified as variable and which would be classified as fixed, if units produced is the activity base? A. Direct materials costs B. Electricity costs of 0.35 per kilowatt-hour
The cost behavior patterns below are lettered A through H. The vertical axes of the graphs represent total dollars of expense, and the horizontal axes represent production in units, machine hours, or direct labor hours. In each case, the zero point is at the intersection of the two axes. Each graph may be used no more than once. Required: Select the graph that matches the lettered cost described here. a. Depreciation of equipmentthe amount of depreciation charged is computed based on the number of machine hours that the equipment was operated. b. Electricity billflat fixed charge, plus a variable cost after a certain number of kilowatt hours are used. c. City water billcomputed as follows: d. Depreciation of equipmentthe amount is computed by the straight-line method. e. Rent on a factory building donated by the citythe agreement calls for a fixed fee payment, unless 200,000 labor hours are worked, in which case no rent need be paid. f. Salaries of repair workersone repair worker is needed for every 1,000 machine hours or less (i.e., 0 to 1,000 hours requires one repair worker, 1,001 to 2,000 hours requires two repair workers, etc.).
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