Homework Help is Here – Start Your Trial Now!
Business
Accounting
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 2.4 ounces 22 gallons 1.4 hour standard Rate se.70 per ounces se.06 per gallons $11.00 per hour standard Unit Cost $1.68 1.32 15.40 During the month of July, Collin's employees gave 420 baths. The actual results were 760 ounces of shampoo used (cost of $600.40), 7,200 gallons of water used (cost of $648), and labor costs for 360 hours (cost of $4,536). 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.

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 2.4 ounces 22 gallons 1.4 hour standard Rate se.70 per ounces se.06 per gallons $11.00 per hour standard Unit Cost $1.68 1.32 15.40 During the month of July, Collin's employees gave 420 baths. The actual results were 760 ounces of shampoo used (cost of $600.40), 7,200 gallons of water used (cost of $648), and labor costs for 360 hours (cost of $4,536). 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.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please do not give solution in image format thanku 

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Suds & Cuts, direct labor variances for the month of July. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your answers to nearest dollar amount. Direct Labor Rate Variance Direct Labor Efficiency Variance < Required 1 Required 2 >
Transcribed Image Text:Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Suds & Cuts, direct labor variances for the month of July. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your answers to nearest dollar amount. Direct Labor Rate Variance Direct Labor Efficiency Variance < Required 1 Required 2 >
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 2.4 22 1.4 ounces gallons hour Required 1 Required 2 During the month of July, Collin's employees gave 420 baths. The actual results were 760 ounces of shampoo used (cost of $600.40), 7,200 gallons of water used (cost of $648), and labor costs for 360 hours (cost of $4,536). Complete this question by entering your answers in the tabs below. standard Rate $0.70 per ounces $0.06 per gallons $11.00 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 S S 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 FF standard Unit Cost < Required 1 S $1.68 1.32 15.40 Water Required 2 >
Transcribed Image Text: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 2.4 22 1.4 ounces gallons hour Required 1 Required 2 During the month of July, Collin's employees gave 420 baths. The actual results were 760 ounces of shampoo used (cost of $600.40), 7,200 gallons of water used (cost of $648), and labor costs for 360 hours (cost of $4,536). Complete this question by entering your answers in the tabs below. standard Rate $0.70 per ounces $0.06 per gallons $11.00 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 S S 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 FF standard Unit Cost < Required 1 S $1.68 1.32 15.40 Water Required 2 >
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Quality control
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS