Your Company's standards call for 740 direct labor-hours to produce 400 units. During May 700 units were produced. The company worked 650 direct labor-hours. What are the standard hours allowed for May production? O 975 O 1,295 O 740 O 1,203
Q: Production wokers for Stuart Manufacturing Company provided 380 hours of labor in January and 560…
A: Cost: In accounting cost refers to value of expense for raw material. Labor, supplies, products,…
Q: DITO Company should work 1,000 direct labor-hours to produce 200 units of product. During March the…
A: The question is related to Cost Management. The question is related to Standard hours which is…
Q: ABC Co. makes two products A1 and B2. The products required direct materials, direct labor, and…
A: PREDETERMINED OVERHEAD RATEPredetermined rate means the indirect cost rate..Predetermined overhead…
Q: Piper Corporation's standards call for 6,475 direct labor-hours to produce 1,850 units of product.…
A: Standard hours allowed: Multiplying actual number of units with standard direct labor hours per unit…
Q: Javon Company set standards of 3 hours of direct labor per unit at a rate of $16.20 per hour. During…
A: Variance arises when the actual costs is different from the standard costs. If the standard cost is…
Q: Total cost and number of units in the first seven months of 2021 are given below. According to this…
A: The total cost needs to be segregated as variable cost and fixed cost by using high low method
Q: Javon Company set standards of 2 hours of direct labor per unit at a rate of $15.50 per hour. During…
A: 1. October: Actual Cost Standard Cost AH x AR AH x SR SH x SR 11500 x 15.7…
Q: Munoz Manufacturing Company expects to make 30,100 chairs during the Year 1 accounting period. The…
A: A product's selling price is the price at which it is provided to clients or purchasers. sometimes…
Q: Steeler Towel Company estimates its overhead to be $522,000. It expects to have 174,000 direct labor…
A:
Q: Production workers for Zachary Manufacturing Company provided 330 hours of labor in January and 570…
A: Predetermined Overhead Rate:— It is the rate used to allocate manufacturing overhead cost to cost…
Q: Piper Corporation's standards call for 4,900 direct labor-hours to produce 1,400 units of product.…
A: The number of standard hours allowed is the number of hours of production time that should have been…
Q: a. In each of the 3 months, what amount of overhead was applied to the production? b. For each of…
A: Solution:- Given, Britannica Motor Vehicle Accessories applies overhead utilizing a combined rate…
Q: The following standards have been set for each test performed: Standard Hours Standard Price or…
A: Standard price per hour = $12 per pound Standard Hours required per unit of actual production= 0.4…
Q: Campbell Corporation paid one of its sales representatives $5,500 during the month of March. The rep…
A: First, compute the fixed cost as shown below: Total salary cost = $5,500 Variable cost = 140*$11 =…
Q: Company XYZ uses machine hours to allocate its manufacturing overhead. The company estimates that…
A: Variable Overhead = $9 x 190000 hours = $1710000 Fixed Overhead = $152000 Total Overhead = $1710000…
Q: The standard cost of product 2525 includes 4.10 hours of direct labour at $14.40 per hour. The…
A: In standard costing variance means the difference between standard costs and actual cost. It is the…
Q: avon Company set standards of 3 hours of direct labor per unit at a rate of $15.60 per hour. During…
A: Labor variance is the term used to describe situations where the actual cost of a labor activity is…
Q: Sandhill Company's overhead rate for machine setups is $118 per setup. A total of 103 setups are…
A: Overhead costs, which are also known as indirect costs or operating expenses, refer to the ongoing…
Q: ry. Materials and labor costs for January were $17,900 and $25,900, respectively. Solomon produced…
A: Answer : Overhead absorption rate =Annual rental fee / Budgeted production Overhead absorption rate…
Q: Piper Corporation's standards call for 4,125 direct labor-hours to produce 1,650 units of product.…
A: Formula: Standard hours per unit = Total standard direct labor hours / Total standard units of…
Q: A company manufactures a product with three models, each with different direct material costs and…
A: Activity based costing means where the product is valued on the basis of actual direct material ,…
Q: Your Company's standards call for 1.85 hours per unit. The company planned to produce 900 units…
A: Standard hour allowed for may production is used to calculate variance. The variance is considered…
Q: The following labor standards have been established for a particular product: Standard labor-hours…
A: Labour rate variance is the difference in standard cost and actual cost of labour due to difference…
Q: ompany XYZ uses direct labor hours to allocate its manufacturing overhead. Manufacturing overhead…
A: Predetermined overhead allocation rate = Total estimated manufacturing overhead costs / Total…
Q: a. If R uses FIFO inventory accounting, what would be the gross profit for the period? Gross profit…
A: The inventory method, which is to be used, is the FIFO method of inventory accounting.The cost of…
Q: Piper Corporation's standards call for 2,875 direct labor-hours to produce 1,150 units of product.…
A: A flexible budget is a budget that can be adjusted for the different levels of activities.So the…
Q: Javon Company set stan ctober, the company actually of direct labor per unit at a rate $16.40 per…
A: The variance analysis means comparing the actual results with the standard sets to find out the…
Q: ABC corporation standards call for 2,500 direct labor-hours to produce 1,000 units of product.…
A: Standard cost provides a target from which actual cost is compared and variances are calculated and…
Q: ABC Company has monthly requirement of 900 units of Material B. The ordering cost per delivery is…
A: Solution: Economic order quantity = (2*D*S/H)^1/2 Where D = Demand of year S = Order cost per order…
Q: Gibson Manufacturing Co. expects to make 30,800 chairs during the year 1 accounting period. The…
A: Expected total number of chairs to be produced during the accounting period = 30800 chairs The…
Q: Ashvin
A: The objective of the question is to determine the allocation of the rental cost of the manufacturing…
Q: Using the information given, calculate the Cycle time for Harper Company in September. Totally…
A: Cycle time indicates the time duration of units produced. It can be calculated by dividing the total…
Q: Production workers for Perez Manufacturing Company provided 390 hours of labor in January and 640…
A: Lets understand the basics.If the company operations are labor intensive, then the rent expense…
Q: Sharp Company manufactures a product for which the following standards have been set: Standard…
A: Lets understand the basics.Direct material quantity variance is a variance between the quantity that…
Q: Baird Manufacturing Co. expects to make 30,500 chairs during the year 1 accounting period. The…
A: Overhead recovery rate can be computed by dividing the Total overhead cost by the Total number of…
Q: Sharp Company manufactures a product for which the following standards have been set: Standard Cost…
A: Material spending variance is the sum of Material price variance and Material quantity…
Q: Required Calculate the total monthly cost of the sales representative's salary for each of the…
A: Fixed costs are expenses that stay consistent regardless of changes in production or sales volumes.…
Q: Total cost and number of units in the first seven months of 2021 are given below. According to this…
A: The mixed cost needs to be segregated as variable cost and fixed cost by applying high low method.
Q: Piper Corporation's standards call for 2,875 direct labor-hours to produce 1,150 units of product.…
A: A flexible budget is a budget that adjusts to the activity or volume levels of a company. Unlike a…
Q: Piper Corporation's standards call for 2,100 direct labor-hours to produce 1,050 units of product.…
A: The standard hour allowed can be calculated on the basis of a standard hour per unit and actual…
Step by step
Solved in 2 steps
- Manufacturing overhead was estimated to be $200,000 for the year along with 20,000 direct labor hours. Actual labor hours were 22,000. The amount of manufacturing overhead applied to production would be: O $210,000. $220,000. $215,000. $200,000.Company XYZ uses labor hours to allocate its manufacturing overhead. The direct labor cost rate is $8 per direct labor hour. The company estimates that the number of labor hours to be used next month is 600,000 labor hours. The estimated variable overhead is estimated to be quarter of the direct labor cost rate. The estimated fixed overhead costs are $50,000. Calculate the predetermined overhead rate. а. 4.08 b. 8.08 С. 5.08 d. 2.08 е. None of the given answersProduction workers for Benson Manufacturing Company provided 380 hours of labor in January and 660 hours in February. Benson expects to use 4,000 hours of labor during the year. The rental fee for the manufacturing facility is $16,000 per month. Required Based on this information, how much of the rental cost should be allocated to the products made in January and to those made in February? (Do not round intermediate calculations.) Month Allocated Cost January February
- Regent Corporation uses a standard cost system to account for the costs of its one product. Materials standards are 3 pounds of material at $14.00 per pound, and labor standards are 9 hours of labor at a standard wage rate of $10.5. During July, Regent Corporation produced 3,050 units. Materials purchased and used totaled 10,600 pounds at a total cost of $143,213. Payroll totaled $151,780 for 38,150 hours worked. Required: a. Calculate the direct materials price variance. Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). b. Calculate the direct materials quantity variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). c. Calculate the direct materials spending variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero…4. Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). For the variance conditions, your answer is either "F” (for Favorable) or "U” (for Unfavorable) - capital letter and no quotes. Complete the following table of variances and their conditions: Variance Variance Amount Favorable (F) or Unfavorable (U) Labor Rate ? ? Labor Time ? ? Total DL Cost Variance ? ?Javon Company set standards of 2 hours of direct labor per unit at a rate of $15.10 per hour. During October, the company actually uses 11,000 hours of direct labor at a $168,300 total cost to produce 5,700 units. In November, the company uses 15,000 hours of direct labor at a $230,250 total cost to produce 6,100 units of product.AH = Actual HoursSH = Standard HoursAR = Actual RateSR = Standard Rate(1) Compute the direct labor rate variance, the direct labor efficiency variance, and the total direct labor variance for each of these two months.(2) Javon investigates variances of more than 5% of actual direct labor cost. Which direct labor variances will the company investigate further?
- A factory manufactures three components: A, B and C. Last week the following was recorded: Number of Labour Grade Employees Rate per hour Individual hours worked I 16 4 40 II 28 3.2 42 III 14 2.8 40 IV 10 1.6 44 Output and standard times during the same week were as follows: Components Output Standard minute(each) A 454 30 В 950 54 C 580 66 The normal working week is 136,800 seconds. Overtime is paid at a premium of 50% of the normal hourly rate. A group incentive scheme is in operation. A bonus is paid for time saved (i.e. where actual production time is less than the standard time allowed). The time saved is expressed as a percentage of hours worked and is shared between the groups as a proportion of the hours worked by each grade at a rate of 75% of the normal hourly rate. Required: a) What are the differences between time rate system and piece rate system? b) What do you understand by Incentive scheme of wage payment? c) Calculate the total payroll showing the basic pay, overtime…Fanning Corporation paid one of its sales representatives $4,000 during the month of March. The rep is paid a base salary plus $11 per unit of product sold. During March, the rep sold 150 units. Required Calculate the total monthly cost of the sales representative's salary for each of the following months. Month April May June July Number of units sold Total variable cost Total fixed cost Total salary cost 190 100 200 110 24 $Victoria Manufacturing Victoria Manufacturing produced 5,250 units in October. The following is the company's standards and actuals for the month. Standard: Material 2.1 pounds per unit @ $5.75 per pound Labor 1.8 direct labor hours per unit @ $12.50 per hour Actual: Material 12,075pounds purchased and used @ $5.65 per pound Labor 8,925 direct labor hours at $13 per hour Refer to Victoria Manufacturing. What is the material price variance? Group of answer choices $1,485 U $1,207 U $1,485 F $1,207F
- Please help me in all three subparts thanksSharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 3 feet $ 5 per foot $ 15 Direct labor ? hours ? per hour ? During March, the company purchased direct materials at a cost of $56,610, all of which were used in the production of 2,875 units of product. In addition, 4,700 direct labor-hours were worked on the product during the month. The cost of this labor time was $37,600. The following variances have been computed for the month: Materials quantity variance $ 4,050 U Labor spending variance $ 2,180 U Labor efficiency variance $ 770 U Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance. 2. For direct labor: a. Compute the standard direct labor rate per hour. b. Compute the standard hours allowed for the month’s production. c. Compute the…Javon Company set standards of 2 hours of direct labor per unit at a rate of $16.30 per hour. During October, the company actually uses 13,200 hours of direct labor at a $217,800 total cost to produce 6,900 units. In November, the company uses 17,200 hours of direct labor at a $284,660 total cost to produce 7,300 units of product.AH = Actual HoursSH = Standard HoursAR = Actual RateSR = Standard Rate(1) Compute the direct labor rate variance, the direct labor efficiency variance, and the total direct labor variance for each of these two months.(2) Javon investigates variances of more than 5% of actual direct labor cost. Which direct labor variances will the company investigate further?