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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 ounces gallons hour 2.8 26 1.6 Standard Rate $0.40 per ounces $0.04 per gallons $12.00 per hour Standard Unit Cost $1.12 1.04 19.20 During the month of July, Collin's employees gave 460 baths. The actual results were 780 ounces of shampoo used (cost of $405.60), 7,600 gallons of water used (cost of $608), and labor costs for 400 hours (cost of $5,400). 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 ounces gallons hour 2.8 26 1.6 Standard Rate $0.40 per ounces $0.04 per gallons $12.00 per hour Standard Unit Cost $1.12 1.04 19.20 During the month of July, Collin's employees gave 460 baths. The actual results were 780 ounces of shampoo used (cost of $405.60), 7,600 gallons of water used (cost of $608), and labor costs for 400 hours (cost of $5,400). 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
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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 ounces gallons hour 2.8 26 1.6 Standard Rate. $0.40 per ounces $0.04 $12.00 per gallons per hour Required 1 Required 2 During the month of July, Collin's employees gave 460 baths. The actual results were 780 ounces of shampoo used (cost of $405.60), 7,600 gallons of water used (cost of $608), and labor costs for 400 hours (cost of $5,400). Complete this question by entering your answers in the tabs below. Standard Unit Cost 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. $1.12 1.04 19.20 Direct Labor Rate Variance Direct Labor Efficiency Variance 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.
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 ounces gallons hour 2.8 26 1.6 Standard Rate. $0.40 per ounces $0.04 $12.00 per gallons per hour Required 1 Required 2 During the month of July, Collin's employees gave 460 baths. The actual results were 780 ounces of shampoo used (cost of $405.60), 7,600 gallons of water used (cost of $608), and labor costs for 400 hours (cost of $5,400). Complete this question by entering your answers in the tabs below. Standard Unit Cost 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. $1.12 1.04 19.20 Direct Labor Rate Variance Direct Labor Efficiency Variance 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.
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 2.8 26 1.6 ounces gallons hour Required 1 Required 2 Standard Rate $0.40 per ounces $0.04 $12.00 per gallons per hour During the month of July, Collin's employees gave 460 baths. The actual results were 780 ounces of shampoo used (cost of $405.60), 7,600 gallons of water used (cost of $608), and labor costs for 400 hours (cost of $5,400). 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 Standard Unit Cost $1.12 1.04 19.20 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 Water
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 2.8 26 1.6 ounces gallons hour Required 1 Required 2 Standard Rate $0.40 per ounces $0.04 $12.00 per gallons per hour During the month of July, Collin's employees gave 460 baths. The actual results were 780 ounces of shampoo used (cost of $405.60), 7,600 gallons of water used (cost of $608), and labor costs for 400 hours (cost of $5,400). 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 Standard Unit Cost $1.12 1.04 19.20 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 Water
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