Hello tutor please help me this question What is the actual cost per yard of fabric purchased?Dazzle Fabrics manufactures a specialty monogrammed blanket. The following arethe cost standards for this blanket:Data TableDirect materials (fabric) 2.0 yards per blanket at $7.00 per yardDirect labor0.5 direct labor hours per blanket at $19.00 per hourActual results from last month's production of 2,400 blankets are as follows:Data TableActual cost of 6,240 yards of direct material (fabric) purchased $40,560Actual yards of direct material (fabric) usedActual wages for 1,350 direct labor hours worked5,540$24,840

Step 1: Definition of Actual Cost per Yard of Fabric PurchasedThe Actual Cost per Yard of Fabric…

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Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 6PB: Box Springs. Inc., makes two sizes of box springs: queen and king. The direct material for the queen...

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What is the actual cost per yard of fabric purchased? Dazzle Fabrics manufactures a specialty monogrammed blanket. The following are the cost standards for this blanket: Data Table Direct materials (fabric) 2.0 yards per blanket at $7.00 per yard Direct labor 0.5 direct labor hours per blanket at $19.00 per hour Actual results from last month's production of 2,400 blankets are as follows: Data Table Actual cost of 6,240 yards of direct material (fabric) Actual yards of direct material (fabric) used Actual wages for 1,350 direct labor hours worked $ 40,560 5,540 $ 24,840
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ShipCo. produces storage crates that require 1.2 meters of material at $0.85 per meter and 0.1 direct labor hours at $15.00 per hour. Overhead is assigned at the rate of $9 per direct labor hour. What is the total standard cost for one unit of product that would appear on a standard cost card? a. $25.02. b. $11.52. c. $2.40. d. $2.52. e. $3.42.
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What is the total standard cost for one unit of product that would appear on a standard cost card for this general accounting question?
BatCo makes baseball bats. Each bat requires 1.00 pounds of wood at $18 per pound and 0.35 direct labor hour at $30 per hour. Overhead is assigned at the rate of $60 per direct labor hour.
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials anddirect labor standards for one unit of Zoom are given below:Standard Quantity Standard Price Standardor Hours or Rate CostDirect materials ........... 4.6 pounds $2.50 per pound $11.50Direct labor ................. 0.2 hours $12.00 per hour $2.40During the most recent month, the following activity was recorded:a. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound.b. All of the material purchased was used to produce 4,000 units of Zoom.c. 750 hours of direct labor time were recorded at a total labor cost of $10,425.Required:1. Compute the direct materials price and quantity variances for the month.2. Compute the direct labor rate and efficiency variances for the month.
Using the absorption costing the cost per unit .
Lana Kane Inc. has determined the following cost standards for the production of her short sweater-dresses: Standard Standard Standard Quantity Price or rate Cost Fabric 4 yards $4.50 per yard $22.00 Direct labor 2 hours $12.00 per hour $24.00 Actual results for last month were as follows: Number of dresses produced 12,000 dresses Direct labor hours worked 24,175 hours Yards of fabric purchased 50,000 yards Yards of fabric used in production 49,500 yards Cost of fabric purchased $217,404 Direct labor cost…
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Quantity Standard Price (Rate) Standard Unit Cost Direct materials (plastic) 12 sq ft. $ 1.45 per sq. ft. $ 17.40 Direct labor 0.3 hr. $ 11.90 per hr. 3.57 Variable manufacturing overhead (based on direct labor hours) 0.3 hr. $ 2.30 per hr. 0.69 Fixed manufacturing overhead ($461,000 ÷ 922,000 units) 0.50 Parker Plastic had the following actual results for the past year: Number of units produced and sold 1,160,000 Number of square feet of plastic used 12,000,000 Cost of plastic purchased and used $ 16,800,000 Number of labor hours worked 320,000 Direct labor cost $ 3,744,000 Variable overhead cost $ 1,100,000 Fixed overhead cost $ 377,000 Required:Calculate Parker Plastic’s direct labor rate and efficiency variances. (Do not round intermediate calculations. Indicate the…
Vish
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Quantity Standard Price (Rate) Standard Unit Cost Direct materials (plastic) 12 sq ft. $ 1.00 per sq. ft. $ 12.00 Direct labor 0.25 hr. $ 12.80 per hr. 3.20 Variable manufacturing overhead (based on direct labor hours) 0.25 hr. $ 2.00 per hr. 0.50 Fixed manufacturing overhead ($559,200 ÷ 932,000 units) 0.60 Parker Plastic had the following actual results for the past year: Number of units produced and sold 1,260,000 Number of square feet of plastic used 12,500,000 Cost of plastic purchased and used $ 11,250,000 Number of labor hours worked 330,000 Direct labor cost $ 4,026,000 Variable overhead cost $ 1,480,000 Fixed overhead cost $ 387,000 Required:Calculate Parker Plastic’s variable overhead rate and efficiency variances and its over- or underapplied variable overhead.…

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