21TB MC Qu. 10-74 Us the information...Cost standards for one unit of product no. C77:7.803 pounds at $2.60 per pound6 hours at $7.30 per hourDirect material43.80Direct laboreBookActual results:6,800 units27,000 pounds at $2.8020,100 pounds at $2.8041,100 hours at $7.10Units producedPrintDirect material purchased$ 75,600eferences56, 280291,810Direct material usedDirect laborUse the information to compute the following variances.The direct-labor rate variance is:Multiple ChoiceMc Check$7,822 F.$7,822 F.es$8,220 F.$8,220 U.None of the answers is correct.

Name: 21TB MC Qu. 10-74 Us the information...Cost standards for one unit of
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Description: 21TB MC Qu. 10-74 Us the information...Cost standards for one unit of product no. C77:7.803 pounds at $2.60 per pound6 hours at $7.30 per hourDirect material43.80Direct laboreBookActual results:6,800 units27,000 pounds at $2.8020,100 pounds at $2.80

Direct labor rate variance is the difference between the total cost of direct labor at standard cost…

Business

Accounting

TB MC Qu. 10-74 Us the information... Cost standards for one unit of product no. C77: 24 3 pounds at $2.60 per pound 6 hours at $7.30 per hour 7.80 Direct material 43.80 Direct labor Actual results: 6,800 units 27,000 pounds at $2.80 20,100 pounds at $2.80 41,100 hours at $7.10 Units produced Direct material purchased $ 75,600 Direct material used 56,280 Direct labor 291,810 Use the information to compute the following variances. The direct-labor rate variance is:

TB MC Qu. 10-74 Us the information... Cost standards for one unit of product no. C77: 24 3 pounds at $2.60 per pound 6 hours at $7.30 per hour 7.80 Direct material 43.80 Direct labor Actual results: 6,800 units 27,000 pounds at $2.80 20,100 pounds at $2.80 41,100 hours at $7.10 Units produced Direct material purchased $ 75,600 Direct material used 56,280 Direct labor 291,810 Use the information to compute the following variances. The direct-labor rate variance is:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Shore Company reports the following information regarding its production cost. Units produced 29,000 units Direct labor $ 24 per unit Direct materials $ 25 per unit 10 per unit $95,920 in total Variable overhead $ Fixed overhead Compute product cost per unit under absorption costing. Multiple Choice $62.31 $59.00 $49.00 (O $25.00
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Direct materials Direct labor Variable manufacturing overhead Multiple Choice uring the most recent period, the following additional information was available: 20,000 pounds of material was purchased at a cost of $10.50 per pound. . All of the material that was purchased was used to produce 3,900 units. O 8,000 direct labor-hours were recorded at a total cost of $132,000. • The actual variable overhead cost incurred during the period was $25,000. $745 U Standard Quantity $720 F or Hours assuming the company uses direct labor-hours to compute its predetermined overhead rate, what is the variable verhead efficiency variance? $720 U 5 pounds 2 hours 2 hours $745 F Standard Price or Rate $11.00 per pound $17.00 per hour $ 3.60 per hour Standard Cost $ 55.00 $ 34.00 $ 7.20
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Product A Product B Direct material in pounds 139,500 190,500 Direct labor hours 30,000 37,500 Machine hours 52,500 22,500 Number of setups 430 860 Number of units produced 15,000 7,500 Additional data: The 330,000 pounds of material were purchased for $544,500. One direct labor hours costs $12. a. Assume that Odyssey Inc. uses direct labor hours to apply overhead to products. Determine the total cost for each product and the cost per unit. Note: Round your final answers to two decimal places (i.e. round $4.355 to $4.36). Product A Total cost $2,296,245 * $ Total cost per unit $ 153.08 * $ b. Assume that Odyssey Inc. uses machine hours to apply overhead to products. Determine the total cost for each product and the cost per unit. Note: Round your final answers to two decimal places (i.e. round $4.355 to $4.36). Product A $3,141,495 * $ 209.43 * $ Total cost Total cost per unit $ Product B 2,907,555 * 387.67 * Total cost $ Total cost per unit $ Product A 2,491,335 * $ 166.09 * $ Product…
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pok sk int ences = aw 11 Rand Company computed the following activity rates using activity-based costing. Activity Setup Materials handling Inspection $ 60 per materials requisition $3 per unit inspected The company's deluxe model used the following activities to produce 1,000 units. Activity Setup Materials handling Inspection Actual Activity Usage 2 setups 24 materials requisitions 1,000 units inspected Compute the overhead cost per unit for the deluxe model using activity-based costing. Activity Setup Materials handling Inspection Total allocated cost Units produced Overhead cost per unit # 2 3 * $ 10 $ 1,040 per setup 4 Activity Rate % 5 Activity Usage 6 Q Search 17 C- & DA 441