Cost standards for one unit of product no. C77:Direct material 3 pounds at $2.50 per poundS7.50Direct labor 5 hours at $7.50 per hour37.50Actual results:Units produced 8,100 unitsDirect material purchased 26,600 pounds at$71,820$2.70Direct material used 24,000 pounds at $2.7064,800Direct labor 41,100o hours at $7.30300,03046.Assume that the company computes variances at the earliest point in time. The direct-material quantityvariance is:None of these.$5,750F.$5,750U.$750U.$750F.

Variance refers to a change between the expected value and the actual result. This term is usually…

Cost standards for one unit of product no. C77: Direct material 3 pounds at $250 per pound S7.50 Direct labor 5 hours at $7.50 per hour 37.50 Actual results: Units produced 8,100 units Direct material purchased 26,600 pounds at $71.820 S270 Direct material used 24,000 pounds at $2.70 64,800 Direct labor 41100 hours at S7.30 300,030 45.Assume that the company computes variances at the earliest point in time. The direct-material quantity variance is: None of these. $5,750F. $5,75OU. S75OU. S750F.

Cost standards for one unit of product no. C77: Direct material 3 pounds at $250 per pound S7.50 Direct labor 5 hours at $7.50 per hour 37.50 Actual results: Units produced 8,100 units Direct material purchased 26,600 pounds at $71.820 S270 Direct material used 24,000 pounds at $2.70 64,800 Direct labor 41100 hours at S7.30 300,030 45.Assume that the company computes variances at the earliest point in time. The direct-material quantity variance is: None of these. $5,750F. $5,75OU. S75OU. S750F.

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

Total Amount Units Sales Variable Costs: 31,250 Per Unit $ 445,313 $ 14.25 Direct Materials $ 125,000 4.00 = Direct Labor $ 28,000 0.90 = Variable Manufacturing Overhead $ 66,250 2.12 = Sales Commissions $ 15,625 0.50 = Shipping Variable Billing Total Variable Costs $ 3,125 0.10 $ 313 0.01 $ 238,313 7.63 Contribution Margin $ 207,000 6.62 Fixed Costs: Fixed Manufacturing Overhead Advertising Sales and Admin. Salaries Fixed Billing Total Fixed Costs Net Operating Income (Loss) 40,000 16,800 87,300 10,000 154,100 $ 52,900 F. Using the budgeted contribution margin income statement in part E. above, calculate the following: a. Breakeven in units: b. Operating Leverage Multiplier: Given a sales volume increase of 8%, operating income will increase by: c. Percent: d. Dollars: #N/A #N/A #N/A #N/A
< Prev A company uses the following standard costs to produce a single unit of output. Direct materials Direct Manufacturing pounds at $0.70 per pound- 0.4 hour at $8.00 per hour labor $ 5.60 $ 3.20 $ 1.96 overhead 53 0.4 hour at $4.90 per hour - During the latest month, the company purchased and used 77,000 pounds of direct materials ata price of $0.90 per pound to produce 10,000 units of output Direct le month totaled $29,100 based on 3,880 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15 600 and fixed manufacturing overhee $10,000. Based on this information, the direct materials price variace for the month was: Multiple Choice $2,000 favorable $15,400 unfavorable $5,600 unfavorable $6,400 unfavorable Ne $5,600 favorable 23 of 25
10
PROBLEM 1: UVW Company produces three products. Production and cost information is as follows: Model A1 2,000 4,000 100 Model B2 Units produced Direct labor hours Number of setups Number of shipments Engineering change orders. Overhead costs include setups P 45,000, shipping costs P 70,000, and engineering costs, P 90,000. 1. What would be the overhead cost per unit for Model A1 if traditional costing were used? 2. What would be the overhead cost per unit for B2 if activity-based costing (ABC) were used? 200 15 Model C3 6,000 2,000 150 225 10 12,000 4,000 250 275 5 ||
Question 6: Your company currently produces a range of three products, D, E, and F to which the following details relate for Period 2. D E F Production (units) 1,500 2,500 14,000 Material cost per unit Br. 18 Br. 10 Br. 20 Labor hours per unit 1 3 2 Machine hours per unit 3 2 6 Labor costs are Br. 8 per hour and production overheads are currently absorbed in the conventional system by reference to machine hours. Total production overheads for Period 2 have been analyzed as follows: Set-up cost 327,250 Handling cost 187,000 Machine cost 140,250 Inspection cost 280,500 935,000 Calculate the cost per unit for each product using conventional The introduction of an ABC is being considered and to that end the following volume…
Course: Accounting for Decision Making and Control The West Point plan of Walkers Electronics Company has the following standards for component C91: Standards: Material 2 units of material B Material Price $10 per unit of B Direct labor 1 hour Wage rate $10 per direct labour hour Variable support cost rate $25 per direct labour hour Actual results for March Used 4,200 units of B, purchased at $9.75 per unit of B Paid for 2,000 direct labour hours at $11 per hour Incurred $48,000 of variable support costs Manufactured 2,000 units of component C91 Required: Determine any (5) five of following variances for March: Total direct material…
I want to correct answer for this question
6 Dake Corporation's relevant range of activity is 2.000 units to 6.000 units. When it produces and sells 4,000 unts, its average costs per un are as follows Average Cost per Unit $ 6.55 $ 3.50 $ 1.40 $ 2.60 5.0.70 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense $ 0.40 Fixed administrative expense Sales commissions $ 1.50 Variable administrative expense $ 0.45 For financial reporting purposes, the total amount of product costs incurred to make 4.000 units is closest to Multiple Choice $56.200
I need c and d part
Please do not give solution in image format thanku
Larner Corporation is a diversified manufacturer of industrial goods. The company's activity-based costing system contains the following six activity cost pools and activity rates: Activity Rates Activity Cost Pool Labor-related Machine-related Machine setups Production orders Shipments General factory ME $ 5.00 per direct labor-hour $ 4.00 per machine-hour $ 60.00 per setup $ 100.00 per order $ 120.00 per shipment $ 4.00 per direct labor-hour Cost and activity data have been supplied for the following products: 378 852 Direct materials cost per unit Direct labor cost per unit $ 3.50 $ 20.00 $ 3.75 Number of units produced per year $9.00 400 2,000 Direct labor-hours Machine-hours Machine setups Production orders Chinmante Total Expected Activity 378 852 1,200 40 2,800 20 4 4 A 7 7 4
Time: 1 hour, 33 minutes, 00 seconds. v Question Completion Status: Question 29 0.75 Kesterson Corporation has provided the following information: Cost per Unit $17.10 $4.10 $1.50 Cost per Period Direct materials Direct labor Variable manufacturing overhead 16,90 Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense $2.00 $0.30 $3900 The incremental manufacturing cost that the company will incur if it increases production from 6500 to 6501 units is closest to: O $15.60 O $15.30 $18.20 O $12.70 A Moving to another question will save this response.