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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 3.1 ounces gallons 29 1.75 hour Standard Rate $0.70 per ounces $0.07 per gallons $12.00 per hour Standard Unit Cost During the month of July, Collin's employees gave 490 baths. The actual results were 795 ounces of shampoo used (cost of $643.95). 7,900 gallons of water used (cost of $632), and labor costs for 430 hours (cost of $5,719) Direct Material Price Variance Direct Material Quantity Variance 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. Complete this question by entering your answers in the tabs below. $2.17 2.03 21.00 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 (1.e., zero variance). Shampoo Water < 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 3.1 ounces gallons 29 1.75 hour Standard Rate $0.70 per ounces $0.07 per gallons $12.00 per hour Standard Unit Cost During the month of July, Collin's employees gave 490 baths. The actual results were 795 ounces of shampoo used (cost of $643.95). 7,900 gallons of water used (cost of $632), and labor costs for 430 hours (cost of $5,719) Direct Material Price Variance Direct Material Quantity Variance 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. Complete this question by entering your answers in the tabs below. $2.17 2.03 21.00 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 (1.e., zero variance). Shampoo Water < Required 1 Required 2 >

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 3.1 29 1.75 ounces gallons hour Standard Rate $0.70 per ounces per gallons $0.07 $12.00 per hour During the month of July, Collin's employees gave 490 baths. The actual results were 795 ounces of shampoo used (cost of $643.95), 7,900 gallons of water used (cost of $632), and labor costs for 430 hours (cost of $5,719). Complete this question by entering your answers in the tabs below. Direct Material Price Variance Direct Material Quantity Variance 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. $2.17 2.03 21.00 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 (1.e., zero variance). Shampoo Water Required 1 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 3.1 29 1.75 ounces gallons hour Standard Rate $0.70 per ounces per gallons $0.07 $12.00 per hour During the month of July, Collin's employees gave 490 baths. The actual results were 795 ounces of shampoo used (cost of $643.95), 7,900 gallons of water used (cost of $632), and labor costs for 430 hours (cost of $5,719). Complete this question by entering your answers in the tabs below. Direct Material Price Variance Direct Material Quantity Variance 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. $2.17 2.03 21.00 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 (1.e., zero variance). Shampoo Water 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 ounces gallons hour 3.1 29 1.75 Standard Rate $0.70 $0.07 per gallons $12.00 per hour per ounces During the month of July, Collin's employees gave 490 baths. The actual results were 795 ounces of shampoo used (cost of $643.95). 7,900 gallons of water used (cost of $632), and labor costs for 430 hours (cost of $5,719). 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. Direct Labor Rate Variance Direct Labor Efficiency Variance $2.17 2.03 21.00 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 (.e.. zero variance). Round your answers to nearest dollar amount. < Required 1 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 ounces gallons hour 3.1 29 1.75 Standard Rate $0.70 $0.07 per gallons $12.00 per hour per ounces During the month of July, Collin's employees gave 490 baths. The actual results were 795 ounces of shampoo used (cost of $643.95). 7,900 gallons of water used (cost of $632), and labor costs for 430 hours (cost of $5,719). 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. Direct Labor Rate Variance Direct Labor Efficiency Variance $2.17 2.03 21.00 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 (.e.. zero variance). Round your answers to nearest dollar amount. < Required 1 Required 2 >
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