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: Standard Quantity Standard Rate Standard Unit Cost 2.5 ounces $0.10 per ounces $0.25 Water 23 gallons $0.04 per gallons 0.92 Direct Labor 1.45 hour $11.00 per hour 15.95 During the month of July, Collin's employees gave 430 baths. The actual results were 765 ounces of shampoo used (cost of $153.00), 7,300 gallons of water used (cost of $584), and labor costs for 370 hours (cost of $4,551). 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 "P for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Shampoo Water Shampoo Direct Material Price Variance Direct Material Quantity Variance $_ U 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. Direct Labor Rate Variance $__ $_ F U $_ F U F
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: Standard Quantity Standard Rate Standard Unit Cost 2.5 ounces $0.10 per ounces $0.25 Water 23 gallons $0.04 per gallons 0.92 Direct Labor 1.45 hour $11.00 per hour 15.95 During the month of July, Collin's employees gave 430 baths. The actual results were 765 ounces of shampoo used (cost of $153.00), 7,300 gallons of water used (cost of $584), and labor costs for 370 hours (cost of $4,551). 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 "P for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Shampoo Water Shampoo Direct Material Price Variance Direct Material Quantity Variance $_ U 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. Direct Labor Rate Variance $__ $_ F U $_ F U F
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
Standard Quantity
Water
2.5 ounces
23 gallons
Direct Labor 1.45 hour
Direct Material Price
Variance
Direct Material Quantity
Variance
Standard Rate
During the month of July, Collin's employees gave 430 baths. The actual results were 765 ounces of shampoo used (cost of $153.00),
7,300 gallons of water used (cost of $584), and labor costs for 370 hours (cost of $4,551).
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
$.
$0.10 per ounces
$0.04 per gallons
$11.00 per hour
$‒‒‒‒‒‒
Direct Labor Efficiency Variance
U
F
Standard Unit Cost
$0.25
0.92
15.95
$
$_
$____
$
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
U
F
U
F
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