Rubble, Inc. produced 1,140 backpacks, the company's product in 2020. The standard cost was 4yards of cloth at a standard cost of $0.90 per yard. The accounting records show that 2,800 yardsof cloth were used, and the company paid $1.25 per yard. Standard time to make the backpackswas 3 direct labor hours per unit at a standard rate of $9.70 per direct labor hours. Employeesworked a total of 1,500 hours and were paid $9.10 per hour.Calculate the direct materials cost variance.(AC?SC)?AQ=Direct MaterialsCost VarianceFavorable orUnfavorable

Direct materials cost variance is the difference between the standard cost of materials used for…

Answered: Rubble, Inc. produced 1,140 backpacks,…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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A company is operating 50-50 Halsay premium plan. Compute the total wages of the worker per hour working in the factory based on the following information:- Time rate = ksh 60/hr. Time allowed standard = 100hrs. Time taken = 75 hrs (b) If a worker is employed for the manufacture of consumable items at a piece rate of ksh150 and has to prepare 50 items in 8 hours of work, but he prepared 55 items in 8 hours. Calculate his total daily earnings by piece rate system. Also calculate extra earnings
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Rooney Small Engine Repair charges $44 per hour of labor. It has a material loading percentage of 38%. On a recent job replacing the engine of a riding lawnmower, Rooney worked 11.5 hours and used parts with a cost of $700. Calculate Rooney's total bill. Rooney's total bill $
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Rubble, Inc. produced 1,180 backpacks, the company's product in 2020. The standard cost was 4 yards of cloth at a standard cost of $1.00 per yard. The accounting records show that 2,900 yards of cloth were used, and the company paid $1.05 per yard. Standard time to make the backpacks was 2 direct labor hours per unit at a standard rate of $9.65 per direct labor hours. Employees worked a total of 1,600 hours and were paid $9.15 per hour.Calculate the direct materials cost variance.
Rubble, Inc. produced 1,100 backpacks, the company's product in 2020. The standard cost was 4 yards of cloth at a standard cost of $0.90 per yard. The accounting records show that 2,700 yards of cloth were used, and the company paid $1.15 per yard. Standard time to make the backpacks was 2 direct labor hours per unit at a standard rate of $9.80 per direct labor hours. Employees worked a total of 1,500 hours and were paid $9.15 per hour.Calculate the direct labor cost variance.
Rubble, Inc. produced 1,100 backpacks, the company's product in 2020. The standard cost was 4 yards of cloth at a standard cost of $0.90 per yard. The accounting records show that 2,700 yards of cloth were used, and the company paid $1.15 per yard. Standard time to make the backpacks was 2 direct labor hours per unit at a standard rate of $9.80 per direct labor hours. Employees worked a total of 1,500 hours and were paid $9.15 per hour.Calculate the direct labor cost variance.
TikTok Electronics manufactures an aluminium fibre tripod model “TRI-X” which sells for $1,600. The production cost computed per unit under traditional costing for each model in 2019 was as follows:Traditional CostingTRIXDirect Materials$700Direct Labour ($20/hour)$120Manufacturing overhead ($38 per DLH)$228Total per unit cost$1, 048In 2019, TikTok Electronics manufactured 26,000 units of TRI-X. Under traditional costing, the gross profit on TRI-X was $552 ($1,600-$1,048). Management is considering phasing out TRI-X as it has continuously failed to reach the gross profit target of $600. Before finalizing its decision, management asks TikTok Electronics management accountant to prepare an3analysis using activity-based costing (ABC). The management accountant accumulates the following information about overhead for the year ended December 31, 2019.Activity Cost PoolsCost DriversEstimated OverheadExpected Use of Cost DriversPurchasingNumber of orders$1,200,00040,000Machine setupsNumber of…
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Rubble, Inc. produced 1,000 backpacks, the company's product in 2020. The standard cost was 3 yards of cloth at a standard cost of $1.00 per yard. The accounting records show that 2,900 yards of cloth were used, and the company paid $1.05 per yard. Standard time to make the backpacks was 2 direct labor hours per unit at a standard rate of $9.75 per direct labor hours. Employees worked a total of 1,800 hours and were paid $9.25 per hour.1. Calculate the direct materials cost variance and the direct materials efficiency variance.

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