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 1.4 12 0.9 ounces gallons hour Standard Rate $0.40 per ounces $0.04 per gallons $9.00 per hour Standard Unit Cost $0.56 0.48 8.10 During the month of July, Collin's employees gave 320 baths. The actual results were 710 ounces of shampoo used (cost of $340.80), 6,200 gallons of water used (cost of $434), and labor costs for 260 hours (cost of $2,756). 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 1.4 12 0.9 ounces gallons hour Standard Rate $0.40 per ounces $0.04 per gallons $9.00 per hour Standard Unit Cost $0.56 0.48 8.10 During the month of July, Collin's employees gave 320 baths. The actual results were 710 ounces of shampoo used (cost of $340.80), 6,200 gallons of water used (cost of $434), and labor costs for 260 hours (cost of $2,756). 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please do not give solution in image format thanku
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
1.4
ounces
12
gallons
0.9
hour
Standard Rate
$0.40 per ounces
$0.04 per gallons
$9.00 per hour
Standard Unit
Cost
$0.56
0.48
8.10
During the month of July, Collin's employees gave 320 baths. The actual results were 710 ounces of shampoo used (cost of $340.80),
6,200 gallons of water used (cost of $434), and labor costs for 260 hours (cost of $2,756).
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.
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 decimar places. Indicate the effect of each variance by
selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ite., zero variance).
Transcribed Image Text:Jes
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.
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.
Direct Material Price Variance
Direct Material Quantity Variance
Required 1
Required 1 Required 2
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.
Water
Complete this question by entering your answers in the tabs below.
Direct Labor Rate Variance
Direct Labor Efficiency Variance
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.
< Required 1
Required 2 >
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
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.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education