Brookman Company manufactures shirts. During June, Brookman made 1,400 shirts and gathered the following additional data:(Click on the icon to view the data.)Read the requirements.7. Calculate the direct materials cost variance.Select the formula, then enter the amounts and compute the cost variance for direct materials and identify whether the variance is favorable (F) or unfavorable (U).( Actual CostStandard CostActual Quantity = Direct Materials Cost Variance(24174Requirements15Calculate the following variances:7. Direct materials cost variance8. Direct materials efficiency variance9. Total direct materials variancePrint) x) x2,37010. Direct labor cost variance11. Direct labor efficiency variance12. Total direct labor varianceDoneChoose from any list or enter any number in the input fields and then click Check Answer.Xi Data TableDirect materials cost standardDirect materials efficiency standardActual amount of fabric purchased and usedActual cost of fabric purchased and usedDirect labor cost standardDirect labor efficiency standardActual amount of direct labor hoursActual cost of direct laborPrintDone$10.00 per yard of fabric1.80 yards per shirt2,370 yards$24,174$15.00 per DLHr7.00 DLHr per shirt9,910 DLHr$146,668X

Name: Brookman Company manufactures shirts. During June, Brookman made 1,40
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Brookman Company manufactures shirts. During June, Brookman made 1,400 shirts and gathered the following additional data:(Click on the icon to view the data.)Read the requirements.7. Calculate the direct materials cost variance.Select the formula, t

“Since you have posted a question with multiple sub parts, we will provide the solution only to the…

Business

Accounting

Brookman Company manufactures shirts. During June, Brookman made 1,400 shirts and gathered the following additional data: (Click on the icon to view the data.) Read the requirements. 7. Calculate the direct materials cost variance. Select the formula, then enter the amounts and compute the cost variance for direct materials and identify whether the variance is favorable (F) or unfavorable (U). Actual Cost Standard Cost ) x Actual Quantity Direct Materials Cost Variance 24174 ) 2,370 ( Requirements 15 Calculate the following variances: 7. Direct materials cost variance 8. Direct materials efficiency variance 9. Total direct materials variance Print = 10. Direct labor cost variance 11. Direct labor efficiency variance 12. Total direct labor variance Done - X i Data Table Direct materials cost standard Direct materials efficiency standard Actual amount of fabric purchased and used Actual cost of fabric purchased and used Direct labor cost standard Direct labor efficiency standard Actual amount of direct labor hours. Actual cost of direct labor $10.00 per yard of fabric 1.80 yards per shirt 2,370 yards $24,174 $15.00 per DLHr 7.00 DLHr per shirt 9,910 DLHr $146,668 X

Brookman Company manufactures shirts. During June, Brookman made 1,400 shirts and gathered the following additional data: (Click on the icon to view the data.) Read the requirements. 7. Calculate the direct materials cost variance. Select the formula, then enter the amounts and compute the cost variance for direct materials and identify whether the variance is favorable (F) or unfavorable (U). Actual Cost Standard Cost ) x Actual Quantity Direct Materials Cost Variance 24174 ) 2,370 ( Requirements 15 Calculate the following variances: 7. Direct materials cost variance 8. Direct materials efficiency variance 9. Total direct materials variance Print = 10. Direct labor cost variance 11. Direct labor efficiency variance 12. Total direct labor variance Done - X i Data Table Direct materials cost standard Direct materials efficiency standard Actual amount of fabric purchased and used Actual cost of fabric purchased and used Direct labor cost standard Direct labor efficiency standard Actual amount of direct labor hours. Actual cost of direct labor $10.00 per yard of fabric 1.80 yards per shirt 2,370 yards $24,174 $15.00 per DLHr 7.00 DLHr per shirt 9,910 DLHr $146,668 X

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

please answer with must and compulsory explanation, computation , for each steps and all parts answer in text form
Krueger Corporation in Washington, D.C., U.S., recently implemented a standard cost system. The company’s cost accountant has gathered the following information needed to perform a variance analysis at the end of the month: Standard Cost Information Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5 per pound Quantity allowed per unit . . . . . . . . . . . . . . . . . . . . . . . . . . . . .100 pounds per unit Direct labor rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $20.00 per hour Hours allowed per unit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 hours per unit Fixed overhead budgeted . . . . . . . . . . . . . . . . . . . . . . . . $12,000 per month Normal level of production . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200 units Variable overhead application rate . . . . . . . . . . . . . . . . . . . $ 2.00 per unit Fixed overhead application rate ($12,000 _ 1,200 units) . . . 10.00…
Hart Company...
Need help ASAP! Thanks for the help!
See attached image Required:Calculate Parker Plastic’s direct materials price and quantity variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
Starts Inc. produces a product for which the standard specifies 8 yards of material per unit. The standard price of one yard of material is $8.50. During the month, 7,400 products were manufactured, using 57,900 yards at a cost of $8.30 per yard. Determine the (a) direct materials price variance, (b) direct materials quantity variance, and (c) total direct materials cost variance. (d) perform the journal entries to record the variances
Please help me with correct answer thanku
help with material quantities variance. thanks
Compute direct materials variances. BE11.4 (LO 2), AP Simba Company's standard materials cost per unit of output is $10 (2 pounds x $5). During July, the company purchases and uses 3,200 pounds of materials costing $16,192 in making 1,500 units of finished product. Compute the total, price, and quantity materials variances. Compute direct labor variances. utput is $20 (3 hours Su nor hour). During August the
Calculate the following variances for November 2021 and indicate whether each of itis favorable (F) or adverse (A). 5. Variable overhead expenditure.6. Variable overhead efficiency.7. Fixed overhead expenditure.8. Fixed overhead efficiency. Please provide each of them calculations