P 12-9: Healing Touch Healing Touch manufactures massage chairs with the following standard cost structure: Standard Cost Sheet: Massage Chair 6 m @ $3 2 sq m @ $7 3 kg @ $4 4 hr@ $15 Metal tubing Leather Padding Direct labor Total cost Metal tubing Leather Padding Direct labor Total standard cost $18.00 14.00 12.00 60.00 $104.00 During the month, 500 chairs are manufactured and the following costs incurred: Actual Costs Incurred for the Month: Massage Chair 3,100 m 1,100 sq m 1,600 kg 1,800 hr $ 9,455 7,722 6,560 27,270 $51,007 Required: a. Calculate all materials and labor variances (including price, quantity, wage rate, and labor efficiency variances). b. Write a short report summarizing and analyzing the manufacturing operations for the month.

P 12-9: Healing Touch Healing Touch manufactures massage chairs with the following standard cost structure: Standard Cost Sheet: Massage Chair 6 m @ $3 2 sq m @ $7 3 kg @ $4 4 hr@ $15 Metal tubing Leather Padding Direct labor Total cost Metal tubing Leather Padding Direct labor Total standard cost $18.00 14.00 12.00 60.00 $104.00 During the month, 500 chairs are manufactured and the following costs incurred: Actual Costs Incurred for the Month: Massage Chair 3,100 m 1,100 sq m 1,600 kg 1,800 hr $ 9,455 7,722 6,560 27,270 $51,007 Required: a. Calculate all materials and labor variances (including price, quantity, wage rate, and labor efficiency variances). b. Write a short report summarizing and analyzing the manufacturing operations for the month.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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