Required information EX 10-26, 27 (Algo) Use the following information for the Exercises below. During June, Danby Company's material purchases amounted to 6,100 pounds at a price of $7.40 per pound. Actual costs Incurred in the production of 2.300 units were as follows: Direct labor Direct material: $ 119,210 ($18.28 per hour) $ 31,820 ($7.40 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 3 hours per unit Rate, $18.10 per hour Direct Materiali Quantity, 2 pounds per unit Price, $7.10 per pound EX 10-27 (Algo) Diagramming Direct-Material and Direct-Labor Variances (LO 10-3) Required: Fill in the amounts in the tables below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Fill in the amounts in the tables below. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (ie, zero variance).). Round "Actual Price" and "Standard Price" to 2 decimal places. Direct-Material Price and Quantity Variances Actual Material Cost Projected Material Cost Standard Material Cost Actual Quantity Actual Price Actual Quantity Standard Price Standard Quantity Standard Price pounds used per pound pounds used per pound pounds allowed per pound $ 0 $ 이 S D Direct-material price variance Direct-material quantity variance Direct-material variance Required 2 > > Regard 3 R2 Required 1 Required 2 Required 3 Fill in the amounts in the tables below. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (1., zero variance).). Round "Actual Price" and "Standard Price" to 2 decimal places Direct-Material Purchase Price Variance Actual Material Cost of Purchases Actual Quantity Actual Price Projected Material Cost of Purchases Actual Quantity Standard Price $ 0 pounds purchased per pound Direct material purchase price variance Required 3> Fill in the amounts in the tables below. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable" Select "None" and enter "0" for no effect e, zere variance).). Round "Actual Price" and "Standard Price to 2 decimal places Direct-Labor Rate and Efficiency Variances Projected Labor Cost Actusi Labor Cest Actual Rate Actual Hours Standard Labor Ceet S Directorate veran prou 이 Drector variance

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Required information
EX 10-26, 27 (Algo) Use the following information for the Exercises below.
During June, Danby Company's material purchases amounted to 6,100 pounds at a price of $7.40 per pound. Actual costs
incurred in the production of 2,100 units were as follows:
Direct labor:
Direct material:
$ 119,218 ($18.28 per hour)
$31,820 ($7.40 per pound)
The standards for one unit of Danby Company's product are as follows:
Direct Labor:
Quantity, 3 hours per unit
Rate, $18.10 per hour
Direct Material:
Quantity, 2 pounds per unit
Price, $7.10 per pound
EX 10-27 (Algo) Diagramming Direct-Material and Direct-Labor Variances (LO 10-3)
Required:
Fill in the amounts in the tables below.
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Required 3
Fill in the amounts in the tables below.
Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (ie., zero variance).). Round "Actual Price" and "Standard
Price" to 2 decimal places.
Direct-Material Price and Quantity Variances
Actual Material Cost
Projected Material Cost
Standard Material Cost
Actual
Actual Price
Actual Quantity
Standard Price
Quantity
Standard Quantity
x
Standard Price
pounds used
к
per pound
pounds used
per pound
pounds allowed
per pound
$
0
Direct-material price variance
$
0
S
D
Direct-material quantity variance
Direct-material variance
Required
Required 2 >
< Prev
Next >
Required 1
R2
Required 1
Required 2
Required 3
Fill in the amounts in the tables below.
Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect
(ie., zero variance).). Round "Actual Price" and "Standard Price" to 2 decimal places.
Direct-Material Purchase Price Variance
Actual Material Cost of Purchases
Actual
Quantity
Actual Price
Projected Material Cost of Purchases
Actual Quantity
Standard Price
pounds
purchased
per pound
pounds purchased
per pound
$
0
$
0
Required 3
Direct-material purchase price variance
Required 1
d1
Required 3 >
Fill in the amounts in the tables below.
Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (ie, zero variance).). Round "Actual Price" and
"Standard Price to 2 decimal places.
Direct-Labor Rate and Efficiency Variances
Actual Labor Cost
Projected Labor Cost
Actual Hours
Actual Rade
Actual Hours
Standard Rate
Standard Hours
Standard Labor Cest
x
Standard Rate
hours used
hours used
hours allowed
per hour
S
0
Direct-labor rate variance
$
이
Direct labor variance
< Required 2
$
D
Direct-leber efficiency variance
Transcribed Image Text:Required information EX 10-26, 27 (Algo) Use the following information for the Exercises below. During June, Danby Company's material purchases amounted to 6,100 pounds at a price of $7.40 per pound. Actual costs incurred in the production of 2,100 units were as follows: Direct labor: Direct material: $ 119,218 ($18.28 per hour) $31,820 ($7.40 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 3 hours per unit Rate, $18.10 per hour Direct Material: Quantity, 2 pounds per unit Price, $7.10 per pound EX 10-27 (Algo) Diagramming Direct-Material and Direct-Labor Variances (LO 10-3) Required: Fill in the amounts in the tables below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Fill in the amounts in the tables below. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (ie., zero variance).). Round "Actual Price" and "Standard Price" to 2 decimal places. Direct-Material Price and Quantity Variances Actual Material Cost Projected Material Cost Standard Material Cost Actual Actual Price Actual Quantity Standard Price Quantity Standard Quantity x Standard Price pounds used к per pound pounds used per pound pounds allowed per pound $ 0 Direct-material price variance $ 0 S D Direct-material quantity variance Direct-material variance Required Required 2 > < Prev Next > Required 1 R2 Required 1 Required 2 Required 3 Fill in the amounts in the tables below. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (ie., zero variance).). Round "Actual Price" and "Standard Price" to 2 decimal places. Direct-Material Purchase Price Variance Actual Material Cost of Purchases Actual Quantity Actual Price Projected Material Cost of Purchases Actual Quantity Standard Price pounds purchased per pound pounds purchased per pound $ 0 $ 0 Required 3 Direct-material purchase price variance Required 1 d1 Required 3 > Fill in the amounts in the tables below. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (ie, zero variance).). Round "Actual Price" and "Standard Price to 2 decimal places. Direct-Labor Rate and Efficiency Variances Actual Labor Cost Projected Labor Cost Actual Hours Actual Rade Actual Hours Standard Rate Standard Hours Standard Labor Cest x Standard Rate hours used hours used hours allowed per hour S 0 Direct-labor rate variance $ 이 Direct labor variance < Required 2 $ D Direct-leber efficiency variance
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