Standard cost : An estimated cost which is used to determine the performance of the company is called standard cost. The standard cost is expected cost which can be taken to compare with the actual cost to measure the operating efficiency of the company. To identify: The amount debited to raw materials inventory when raw material was purchased.

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Answer 1

Question

Chapter 26, Problem 21E

(a)

To determine

Standard cost: An estimated cost which is used to determine the performance of the company is called standard cost. The standard cost is expected cost which can be taken to compare with the actual cost to measure the operating efficiency of the company.

To identify: The amount debited to raw materials inventory when raw material was purchased.

(b)

To determine

The amount debited to work in process inventory when direct material used.

(c)

To determine

The amount credited to factory wages payable.

(d)

To determine

The amount debited to work in process for direct labor used.

(e)

To determine

The amount of manufacturing overhead cost.

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Bryant Corporation produced 12,000 electric fans during July. Bryant uses direct labor hours as the overhead allocation base. The budgeted variable overhead rate per direct labor hour is $12.50. Actual direct labor hours used during July were 8,400 hours, while budgeted hours were 8,000 hours. The actual variable overhead rate per direct labor hour incurred was $13.00. Calculate the variable overhead spending variance and indicate if it is favorable or unfavorable. A. $4,200 favorable B. $4,200 unfavorable C. $6,500 favorable D. $6,500 unfavorable

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Answer 2

Question

Chapter 26, Problem 21E

(a)

To determine

Standard cost: An estimated cost which is used to determine the performance of the company is called standard cost. The standard cost is expected cost which can be taken to compare with the actual cost to measure the operating efficiency of the company.

To identify: The amount debited to raw materials inventory when raw material was purchased.

(b)

To determine

The amount debited to work in process inventory when direct material used.

(c)

To determine

The amount credited to factory wages payable.

(d)

To determine

The amount debited to work in process for direct labor used.

(e)

To determine

The amount of manufacturing overhead cost.

Expert Solution & Answer

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Answer 3

Question

Chapter 26, Problem 21E

(a)

To determine

Standard cost: An estimated cost which is used to determine the performance of the company is called standard cost. The standard cost is expected cost which can be taken to compare with the actual cost to measure the operating efficiency of the company.

To identify: The amount debited to raw materials inventory when raw material was purchased.

(b)

To determine

The amount debited to work in process inventory when direct material used.

(c)

To determine

The amount credited to factory wages payable.

(d)

To determine

The amount debited to work in process for direct labor used.

(e)

To determine

The amount of manufacturing overhead cost.

Expert Solution & Answer

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Answer 4

Question

Chapter 26, Problem 21E

(a)

To determine

Standard cost: An estimated cost which is used to determine the performance of the company is called standard cost. The standard cost is expected cost which can be taken to compare with the actual cost to measure the operating efficiency of the company.

To identify: The amount debited to raw materials inventory when raw material was purchased.

(b)

To determine

The amount debited to work in process inventory when direct material used.

(c)

To determine

The amount credited to factory wages payable.

(d)

To determine

The amount debited to work in process for direct labor used.

(e)

To determine

The amount of manufacturing overhead cost.

Expert Solution & Answer

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Answer 5

Chapter 26, Problem 21E

(a)

To determine

Standard cost: An estimated cost which is used to determine the performance of the company is called standard cost. The standard cost is expected cost which can be taken to compare with the actual cost to measure the operating efficiency of the company.

To identify: The amount debited to raw materials inventory when raw material was purchased.

(b)

To determine

The amount debited to work in process inventory when direct material used.

(c)

To determine

The amount credited to factory wages payable.

(d)

To determine

The amount debited to work in process for direct labor used.

(e)

To determine

The amount of manufacturing overhead cost.

Answer 6

Chapter 26, Problem 21E

(a)

To determine

Standard cost: An estimated cost which is used to determine the performance of the company is called standard cost. The standard cost is expected cost which can be taken to compare with the actual cost to measure the operating efficiency of the company.

To identify: The amount debited to raw materials inventory when raw material was purchased.

Answer 7

Chapter 26, Problem 21E

(a)

To determine

Standard cost: An estimated cost which is used to determine the performance of the company is called standard cost. The standard cost is expected cost which can be taken to compare with the actual cost to measure the operating efficiency of the company.

To identify: The amount debited to raw materials inventory when raw material was purchased.

Answer 8

(b)

To determine

The amount debited to work in process inventory when direct material used.

Answer 9

(b)

To determine

The amount debited to work in process inventory when direct material used.

Answer 10

(c)

To determine

The amount credited to factory wages payable.

Answer 11

(c)

To determine

The amount credited to factory wages payable.

Answer 12

(d)

To determine

The amount debited to work in process for direct labor used.

Answer 13

(d)

To determine

The amount debited to work in process for direct labor used.

Answer 14

(e)

To determine

The amount of manufacturing overhead cost.

Answer 15

(e)

To determine

The amount of manufacturing overhead cost.

Answer 16

Expert Solution & Answer

Answer 17

Expert Solution & Answer

Answer 18

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Answer 19

Ch. 26 - Prob. 1Q Ch. 26 - 2. (a) Explain the similarities and differences...Ch. 26 - Prob. 3Q Ch. 26 - Prob. 4Q Ch. 26 - Prob. 5Q Ch. 26 - Prob. 6Q Ch. 26 - Prob. 7Q Ch. 26 - Prob. 8Q Ch. 26 - Prob. 9Q Ch. 26 - Prob. 10Q

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The amount debited to work in process inventory when direct material used.

The amount credited to factory wages payable.

The amount debited to work in process for direct labor used.

The amount of manufacturing overhead cost.

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