Accounting6. Answer incorrect box for thumbs upCullumber's Style manufactures dining room tables for both home andrestaurant locations. Mark Donald, the company's controller,developed the following standard costs for each 5-foot table. Ms.Donald developed these standards based on the companymanufacturing 1,340 tables per month.Direct materialsDirect laborVariable overheadFixed overheadTotal standard cost per table.Standard Price$50.00 per linear foot18.50 per DLH16.20 per DLH28.20 per DLHStandard Quantity5.00 linear feet12.00 DLH12.00 DLH12.00 DLHThe company actually manufactured 1,240 tables during themonth.6,040 linear feet of direct materials were purchased during themonth at a total cost of $258,512.5,540 linear feet of direct materials were used to manufacturethe tables.Direct material price varianceStandard Cost$250.00222.00194.40338.40$1.004.8015,540 direct labor hours were worked at a total cost of$243,720.Actual variable overhead was $266,000.Actual fixed overhead was $411,900.Calculate the direct material price variance for the month. (Ifvariance is zero, select "Not Applicable" and enter O for theamounts.)39888Favorable

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Description: Accounting6. Answer incorrect box for thumbs upCullumber's Style manufactures dining room tables for both home andrestaurant locations. Mark Donald, the company's controller,developed the following standard costs for each 5-foot table. Ms.Donald dev

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Accounting 6. Answer incorrect box for thumbs up Cullumber's Style manufactures dining room tables for both home and restaurant locations. Mark Donald, the company's controller, developed the following standard costs for each 5-foot table. Ms. Donald developed these standards based on the company manufacturing 1,340 tables per month. Direct materials Direct labor Variable overhead Fixed overhead Total standard cost per table Standard Price $50.00 per linear foot 18.50 per DLH 16.20 per DLH 28.20 per DLH Standard Quantity 5.00 linear feet 12.00 DLH 12.00 DLH 12.00 DLH Standard Cost $250.00 222.00 194.40 338.40 $1.004.00 The company actually manufactured 1,240 tables during the month.

Accounting 6. Answer incorrect box for thumbs up Cullumber's Style manufactures dining room tables for both home and restaurant locations. Mark Donald, the company's controller, developed the following standard costs for each 5-foot table. Ms. Donald developed these standards based on the company manufacturing 1,340 tables per month. Direct materials Direct labor Variable overhead Fixed overhead Total standard cost per table Standard Price $50.00 per linear foot 18.50 per DLH 16.20 per DLH 28.20 per DLH Standard Quantity 5.00 linear feet 12.00 DLH 12.00 DLH 12.00 DLH Standard Cost $250.00 222.00 194.40 338.40 $1.004.00 The company actually manufactured 1,240 tables during the month.

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Atlas Furniture Company manufactures designer home furniture. Atlas uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $28.00 per hr. standard time per unit 5.0 hrs. Direct materials (oak): standard price $12.00 per bd. ft. standard quantity 18 bd. ft. Variable factory overhead: standard rate $2.00 per direct labor hr. Fixed factory overhead: standard rate $3.80 per direct labor hr. a. Determine the standard cost per dining room table.$fill in the blank 1 per table b. A standard cost system provides Atlas Furniture Company's management a cost control tool using the principle of . Using this principle, cost deviations from standards can be investigated and corrected.
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