Connect Access Card for Financial and Managerial Accounting
18th Edition
ISBN: 9781260006476
Author: Jan Williams, Susan Haka, Mark S Bettner, Joseph V Carcello
Publisher: McGraw-Hill Education
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Question
Chapter B, Problem 3P
To determine
Calculate the present value of the following
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#10.
Recall that Unique Industries had estimated $1,055,000 of MOH for the year and 64,500 DL hours, resulting in a predetermined MOH rate of $14/DL hour. By the end of the year, the company had actually incurred $925,000 of MOH costs and used a total of 64,000 DL hours on jobs. By how much had Unique Industries overallocated or underallocated MOH for the year?
Part 1 Compute the underallocated or overallocated overhead. (Use parentheses or a minus sign for overallocated overhead.)
Actual MOH
–
Allocated MOH
=
(Over) Under Allocated
-
=
The standard materials cost to produce 1 unit of Product Z is 5 pounds of
material at a standard price of $38 per pound. In manufacturing 7,500 units,
36,800 pounds of material were used at a cost of $39 per pound.
What is the total direct materials cost variance?
A. $8,600 favorable
B. $37,800 favorable
C. $29,200 unfavorable
D. $10,200 unfavorable
E. $37,800 unfavorable
Compute the direct material price variance for June.
Chapter B Solutions
Connect Access Card for Financial and Managerial Accounting
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- Henderson Manufacturing produces a product with the following standard costs: Direct materials: 3.5 liters per unit at $9.00 per liter Direct labor: 0.6 hours per unit at $18.50 per hour Variable overhead: 0.6 hours per unit at $6.50 per hour The company produced 3,800 units in June, using 13,600 liters of direct material and 2,320 direct labor hours. During the month, the company purchased 14,000 liters of direct material at $9.20 per liter. The actual direct labor rate was $18.80 per hour, and the actual variable overhead rate was $6.50 per hour. The company applies variable overhead on the basis of direct labor hours. The direct materials purchase variance is computed at the time of purchase. Compute the materials quantity variance for June.arrow_forwardCalculate gross profit and the gross profit ratio for the year.arrow_forwardViolet has received a special order for 150 units of its product. The product normally sells for $2,500 and has the following manufacturing costs: • Direct materials: $700 • Direct labor: $360 • Variable manufacturing overhead: $460 • Fixed manufacturing overhead: $720 • Total unit cost: $2,240 Assume that Violet has sufficient capacity to fill the order without impacting normal production and sales. What minimum price should Violet charge to achieve a $25,500 incremental profit? A. $1,600 B. $1,860 C. $1,720 D. $1,580arrow_forward
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