Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Direct labor Standard Quantity 1.5 ounces 13 gallons hour 0.95 During the month of July, Collin's employees gave 330 baths. The actual results were 715 ounces of shampoo used (cost of $400.40). 6,300 gallons of water used (cost of $441), and labor costs for 270 hours (cost of $2,916). Complete this question by entering your answers in the tabs below. Standard Rate $0.50 per ounces $0.05 per gallons $10.00 per hour Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. Direct Material Price Variance Direct Material Quantity Variance $ Required 1 Required 2 Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. Note: Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). $ Shampoo 582 75 Standard Unit Cost 0:00 None $ $ $0.75 0.65 9.50 Water 63.00 U 000 None:
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
![Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog
bath given:
Shampoo
Water
Direct labor
Standard Quantity
1.5
ounces
13
gallons
hour
0.95
Standard Rate
$0.50 per ounces
$0.05 per gallons
$10.00 per hour
During the month of July, Collin's employees gave 330 baths. The actual results were 715 ounces of shampoo used (cost of $400.40).
6,300 gallons of water used (cost of $441), and labor costs for 270 hours (cost of $2.916).
Complete this question by entering your answers in the tabs below.
Required:
1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July.
2. Calculate Suds & Cuts, direct labor variances for the month of July.
Direct Material Price Variance.
Direct Material Quantity Variance
$
$
Required 1 Required 2
Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July.
Note: Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by
selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).
Shampoo
582 75
Standard Unit
Cost
0.00 None
$
$0.75
0.65
9.50
$
Water
63.00 U
1000 None](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4aa732cf-b5c0-480a-994d-aa76a3fa09d2%2F19fea3d1-9bf2-4bfd-ae9b-7bf6ffcc28d4%2F0ixo1v8_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Step by step
Solved in 5 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)