1.a
To compute: Total pounds of direct materials purchased.
Given information:
August 2014,
Direct material price variance is $179,300.
Direct material price variance per pound is $1.10.
b.
To compute: Total number of pounds of excess direct materials used.
Given information:
August 2014,
Units produced are 20,000 units.
Budgeted quantity of materials input for each output unit is 6 pounds.
Efficiency variance is $75,900.
Budgeted price of input is $11.50.
c.
To compute: Variable manufacturing overhead spending variance.
Given information:
August 2014,
Variable overhead efficiency variance is $18,100.
Variable overhead flexible
d.
To compute: Total number of actual direct manufacturing labor-hours used.
Given information:
August 2014,
Direct
Budgeted direct labor cost at 50,000 budgeted direct manufacturing labor-hour level for August is $1,250,000.
e.
To compute: Total number of standard direct manufacturing labor-hours allowed for the units produced.
Given information:
August 2014,
Total number of actual labor hours used as computed is 21,000 hours
Efficiency variance is $40,000.
Budgeted price of input is $25.
f.
To compute: Production-volume variance.
Given information:
August 2014,
Budgeted fixed overheads are $1,000,000.
Budgeted fixed overhead rate is
Labor hours allocated for actual output is 19,400 hours.
2.
G’s control of variable manufacturing overhead items differs from its control of fixed manufacturing overhead items.
Want to see the full answer?
Check out a sample textbook solution
Chapter 8 Solutions
Cost Accounting (15th Edition)
- Please need answer the general accounting questionarrow_forwardDiscuss the accounting treatment for investments in debt and equity securities.arrow_forwardSaved Required information [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,310 in assets to launch the business. On December 31, the company's records show the following items and amounts. $ 10,200 Cash withdrawals by owner Cash Accounts receivable 15,200 Consulting revenue Office supplies 3,550 Rent expense Land 45,990 Office equipment 18,310 Accounts payable 8,740 Salaries expense Telephone expense Miscellaneous expenses Owner investments 84,310 $ 2,340 15,200 3,910 7,350 790 610 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. AC Graw Hill ERNST CONSULTING Balance Sheet December 31 $ 0 G-SYNC $ 0 S 0 Barrow_forward
- Audit, Fraud, Or Forensic Accounting Introduce yourself to your peers by sharing something unique about your background. Explain how you expect this course will help you move forward in your current or future career. This course covers forensic accounting, so it's important to establish the differences between an audit, a fraud examination, and a forensic accounting engagement. Think about the fraud conviction of Elizabeth Holmes, as described in the video, "Elizabeth Holmes Found Guilty in Theranos Fraud Trial." Then respond to the following: Imagine you are assigned to the Theranos case. Write the first five questions you would ask if you were an auditor, the first five questions as a fraud examiner, and the first five as a forensic accountant. After your questions, explain why the questions and approaches are different among the three roles. Be sure to respond to at least one of your classmates' posts.arrow_forwardFinancial Account subjectarrow_forwardACCOUNT QUESTIONSarrow_forward
AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,
Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSON
Intermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill Education
Financial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education