I want A B answer general accounting question Standard Cost InformationCost Component Standard Specification Standard Price/RateDirect Materials 12 lbs. per unitDirect Labor2 hrs. per unit$5 per lb.$18 per hr.Actual Production and Cost Data for JulyCost Component Actual Quantities and PricesDirect Materials 132,000 lbs. at $4.80 per lb.Direct Labor24,000 hrs. at $18.25 per hr.Units Produced11,000 unitsVariance Analysis ObjectiveCompute:A. Direct Materials Price and Quantity VariancesB. Direct Labor Rate and Efficiency Variances

Step 1:A. The direct material price variance is calculated as follows: Direct material price…

Answered: Standard Cost Information Cost…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter13: Lean Manufacturing And Activity Analysis

Section: Chapter Questions

Problem 16E

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Wrappers Tape makes two products: Simple and Removable. It estimates it will produce 369,991 units of Simple and 146,100 of Removable, and the overhead for each of its cost pools is as follows: It has also estimated the activities for each cost driver as follows: Â How much is the overhead allocated to each unit of Simple and Removable?
Equivalent Units, Unit Cost, Weighted Average Refer to the information for Alfombra Inc. on the previous page. Required: 1. Prepare a physical flow analysis for the throw rug department for August. 2. Calculate equivalent units of production for the throw rug department for August. 3. Calculate the unit cost for the throw rug department for August. 4. Show that the cost per unit calculated in Requirement 3 is a weighted average of the FIFO cost per equivalent unit in BWIP and the FIFO cost per equivalent unit for August. (Hint: The weights are in proportion to the number of units from each source.) Use the following information for Problems 6-59 and 6-60: Alfombra Inc. manufactures throw rugs. The throw rug department weaves cloth and yarn into throw rugs of various sizes. Alfombra uses the weighted average method. Materials are added uniformly throughout the weaving process. In August, Alfombra switched from FIFO to the weighted average method. The following data are for the throw rug department for August:
Need Ans financial accounting question
Direct Labor Actual Data: Units produced Direct Labor Standard Cost Data per 1 Unit Quantity Price 2 hrs $41/hr SHOW ALL COMPUTATIONS. 20 units 39 hrs; total cost $1560 Compute rate variance, efficiency variance, direct labor variance
Direct Material Direct Labor Standard Cost Data per 1 Unit Quantity Price 3 lbs $2.00/lb 2 hrs $4.00/hr Actual Data: Units produced Material purchase & usage Direct Labor Show all computations. 25 100 lbs at $2.20 per lb 30 hrs; total cost $129 a) Compute price variance, quantity variance, direct material variance b) Compute rate variance, efficiency variance, direct labor variance
Subject: acounting
Subject: general Accounting question
Question Content Area The following data relate to direct labor costs for the current period: Line Item Description Value Standard costs 7,000 hours at $11.80 Actual costs 6,300 hours at $10.80 The direct labor rate variance is a. $14,560 unfavorable b. $6,300 favorable c. $14,560 favorable d. $8,260 favorable
Standard Costing and Variance Analysis Standard Price or Rate P6.00 per meter Direct Materials Direct Labor Variable Factory Overhead P3.00 direct labor hour per Factory overhead is applied to production based on direct labor hours. During the month of February, 5,000 units were produced and sold to customers. Th following are the selected production data for the month: Materials Direct Variable used Labor FOH P52,500 Standard Cost allowed Actual cost incurred P84,000 P75,000 P6,000 U P21,000 P18,000 ? Materials Quantity variance Actual direct labor hours 7,500 hours Standard FOH rate per direct labor hour Standard Price per meter P3.00/hr. P6.00 /m. The difference between the standard and actual cost per unit produced is P0.15 favorable. Required: Compute the following: 1. The standard cost per unit of product. 2. The actual cost per unit of product. Standard Quantity per unit. 4. Material Price variance. 3. 5. 6. Labor Rate variance. Standard direct labor rate per hour. 7. Labor…
General accounting prblm
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A Company establishes the following standards for the costs of one unit of its product. The standard production overhead costs per unit are bascd on direct-labor hours. Calculation for standard per unit cost is as follows: Std Cost Std Qty 3.00 kg | Direct Material Direct Labor Variable Overhead Fixed Overhead* |Total *based on practical capacity of 20,000 direct-labor hour per month Std Price/Rate $ 8.25 per kg $ 10.00 per hour $ 10.00 per hour $ 7.50 per hour 24.75 $ 20.00 2.00 hour $ 20.00 2.00 hour 15.00 2.00 hour 79.75 During December 2020, the Company purchased 30,000 kg of direct material at a total cost of $246,000. The total wages for December were $260,000, 75% of which were for direct labor. The Company manufactured 9,500 units of product during December 2020, using 28,400 kg of the direct material purchased in December and 18,900 direct-labor hours. Actual variable and fixed overhead cost were $200,000 and $150,000, respectively. The scheduled production for the month was…

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