ROSSER COMPANY PRODUCES A CONTAINER THAT REQUIRES 4 YDS. OF MATERIAL PER UNIT. THE STANDARD PRICE OF ONE YARD OF MATERIAL IS $4.50. DURING THE MONTH, 9,500 CHAIRS WERE MANUFACTURED, USING 37,300 YARDS. REQUIRED: JOURNALIZE THE ENTRY TO RECORD THE STANDARD DIRECT MATERIALS USED IN PRODUCTION.

ROSSER COMPANY PRODUCES A CONTAINER THAT REQUIRES 4 YDS. OF MATERIAL PER UNIT. THE STANDARD PRICE OF ONE YARD OF MATERIAL IS $4.50. DURING THE MONTH, 9,500 CHAIRS WERE MANUFACTURED, USING 37,300 YARDS. REQUIRED: JOURNALIZE THE ENTRY TO RECORD THE STANDARD DIRECT MATERIALS USED IN PRODUCTION.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter20: Inventory Management: Economic Order Quantity, Jit, And The Theory Of Constraints

Section: Chapter Questions

Problem 13E: Eyring Manufacturing produces a component used in its production of washing machines. The time to...

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Rosser Company produces a container that requires 4 yards of material per unit. The standard price of one yard of material is $4.50. During the month, 9,500 containers were manufactured using 37,300 yards of material. Required: Journalize the entry to record the standard direct materials used in production. If an amount box does not require an entry, leave it blank
Jornalize the entry to record the standard direct materials used in production
I will post this several times, dont answer it if you already answer it! I will mark down the second SAME answer if ever.
Bellingham Company produced 4,700 units that require six standard pounds per unit at a $4 standard price per pound. The company actually used 27,600 pounds in production. Journalize the entry to record the standard direct materials used in production. For a compound transaction, if an amount box does not require an entry, leave it blank.
Bellingham Company produced 2,300 units that require 16 standard pounds per unit at a $10 standard price per pound. The company actually used 35,300 pounds in production. Journalize the entry to record the standard direct materials used in production. If an amount box does not require an entry, leave it blank.
Bellingham Company produced 4,600 units that require five standard pounds per unit at a $10.5 standard price per pound. The company actually used 22,500 pounds in production. Journalize the entry to record the standard direct materials used in production. For a compound transaction, if an amount box does not require an entry, leave it blank
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labour standards for one unit of Zoom are given below: Standard quantity or hours Standard price or rate Standard cost Direct materials 3.0 kilos £ 3.00 per kilo £ 9.00 Direct labour 0.3 hours £ 7.00 per hour £ 2.10 During the most recent month, the following activity was recorded: 1. 8,800 kilos of material were purchased at a cost of £2.92 per kilo. 2. Huron Company produced 2,000 units of Zoom, using 6,800 kilos of material in the production process. (The rest of the material purchased remained in inventories.) 3. A total of 4,200 hours of direct labour time was recorded at a total labour cost of £34,440. Requirement 1: Compute the direct materials price variance for the month. (Do not round intermediate calculations.) Requirement 2: Compute the direct materials quantity variance for the month.
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Priceor Rate StandardCost Direct materials 6.50 pounds $ 1.90 per pound $ 12.35 Direct labor 0.30 hours $ 13.00 per hour $ 3.90 During the most recent month, the following activity was recorded: 20,500.00 pounds of material were purchased at a cost of $1.70 per pound. All of the material purchased was used to produce 3,000 units of Zoom. 800 hours of direct labor time were recorded at a total labor cost of $12,000. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month.
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 7.40 pounds $ 2.30 per pounds $ 17.02 Direct labor 0.90 hours $ 8.50 per hour $ 7.65 During the most recent month, the following activity was recorded: a. 21,500 pounds of material were purchased at a cost of $2.10 per pound. b. All of the material purchased was used to produce 2,500 units of Zoom. c. 2,000 hours of direct labor time were recorded at a total labor cost of $21,000. Required: 1. Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) 2. Compute the labor rate and efficiency variances for the month.…
Ingabire Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by the production-engineering staff and the controller. Direct Labor: Direct Material: Quantity, 0.29 hour Quantity, 8 kilograms Rate, $14.50 per hour Price, $0.68 per kilogram Actual material purchases amounted to 412,800 kilograms at $0.700 per kilogram. Actual costs incurred in the production of 48,000 units were as follows: Direct labor: $228,096 for 15,360 hours Direct material: $273,840 for 391,200 kilograms Required: Post the journal entries prepared above to the appropriate T-accounts below. (a) Raw Material inventory (b) Work-in-process Inventory (Accounts Payable (d) Wages Payable (e)direct labour rate variance (f)direct material quantity variance (g) direct labour efficiency variance
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Standard Price Standard or Rate $2.30 per pound $8.50 per hour Hours Cost Direct materials 7.40 pounds $17.02 Direct labor 0.90 hours $ 7.65 During the most recent month, the following activity was recorded: a. 21,500.00 pounds of material were purchased at a cost of $2.10 per pound. b. All of the material purchased was used to produce 2,500 units of Zoom. c. 2,000 hours of direct labor time were recorded at a total labor cost of $21,000. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month. (For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Round your intermediate calculations…
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Priceor Rate StandardCost Direct materials 6.80 pounds $ 2.90 per pound $ 19.72 Direct labor 0.20 hours $ 9.00 per hour $ 1.80 During the most recent month, the following activity was recorded: 15,100.00 pounds of material were purchased at a cost of $2.60 per pound. All of the material purchased was used to produce 2,000 units of Zoom. 300 hours of direct labor time were recorded at a total labor cost of $3,300. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month. (For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Round your…