E9-5 (Algo) Calculating Direct Materials and Direct Labor Variances (LO 9-3, 9-4) Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Standard Quantity 2.4 oz. 22 gal. $ 0.06 per gal. 1.4 hr. $11.e0 per hr. Standard Standard Rate Unit Cost Shanpoo $ 0.70 per oz. $ 1.68 Water 1.32 Direct labor 15.40 During the month of July, Collin's employees gave 420 baths. The actual results were 760 ounces of shampoo used (cost of $600.40), 7,200 gallons of water used (cost of $648), and labor costs for 360 hours (cost of $4.536). Required: 1. Calculate Suds & Cuts direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts direct labor variances for the month of July.

E9-5 (Algo) Calculating Direct Materials and Direct Labor Variances (LO 9-3, 9-4) Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Standard Quantity 2.4 oz. 22 gal. $ 0.06 per gal. 1.4 hr. $11.e0 per hr. Standard Standard Rate Unit Cost Shanpoo $ 0.70 per oz. $ 1.68 Water 1.32 Direct labor 15.40 During the month of July, Collin's employees gave 420 baths. The actual results were 760 ounces of shampoo used (cost of $600.40), 7,200 gallons of water used (cost of $648), and labor costs for 360 hours (cost of $4.536). Required: 1. Calculate Suds & Cuts direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts direct labor variances for the month of July.

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Description: E9-5 (Algo) Calculating Direct Materials and Direct Labor Variances [LO 9-3, 9-4]Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dogbath given:StandardUnit CostStandardQuan

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 11PB: Use the following standard cost card for 1 gallon of ice cream to answer the questions. Actual...

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E9-5 (Algo) Calculating Direct Materials and Direct Labor Variances [LO 9-3, 9-4] Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Direct labor Standard Quantity ounces gallons hour 1.4 12 0.9 Standard Rate. $0.40 $0.04 $9.00 Required 1 Required 2 per ounces per gallons per hour During the month of July, Collin's employees gave 320 baths. The actual results were 710 ounces of shampoo used (cost of $340.80), 6,200 gallons of water used (cost of $434), and labor costs for 260 hours (cost of $2,756). Complete this question by entering your answers in the tabs below. Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. Direct Labor Rate Variance Direct Labor Efficiency Variance Standard Unit Cost $0.56 0.48 8.10 U F Calculate Suds & Cuts, direct labor…
E9-5 (Algo) Calculating Direct Materials and Direct Labor Variances [LO 9-3, 9-4] Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Standard Quantity 2.3 oz. 21 gal. Direct labor 1.35 hr. Standard Rate $ 0.60 per oz. $ 0.05 per gal. $11.00 per hr. Standard Unit Cost $ 1.38 1.05 14.85 During the month of July, Collin's employees gave 410 baths. The actual results were 755 ounces of shampoo used (cost of $520.95), 7,100 gallons of water used (cost of $639), and labor costs for 350 hours (cost of $4,375). Required: 1. Calculate Suds & Cuts direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts direct labor variances for the month of July. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Suds & Cuts direct materials variances for both shampoo and…
E9-5 (Algo) Calculating Direct Materials and Direct Labor Variances [LO 9-3, 9-4] Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Direct labor Standard Quantity 1.9 17 1.15 ounces gallons hour Standard Unit Standard Rate $0.20 per ounces $0.04 per gallons $10.00 per hour Cost $0.38 0.68 11.50 During the month of July, Collin's employees gave 370 baths. The actual results were 735 ounces of shampoo used (cost of $205.80), 6,700 gallons of water used (cost of $536), and labor costs for 310 hours (cost of $3,658). Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July.…
Larry's Woodworks has collected the following data for its cutting board line of products: K Direct materials standard Direct materials standard cost Actual Direct Materials Used (AQU) Actual finished goods purchased What is the direct materials quantity variance? 10 pounds per unit $0.54 per pound 40,000 pounds 4,100 units OA. $17,860 unfavorable OB. $17,860 favorable OC. $540 unfavorable OD. $540 favorable
E9-5 (Algo) Calculating Direct Materials and Direct Labor Variances [LO 9-3, 9-4] Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Direct labor Standard Quantity 2.4 22 ounces 1.4 gallons hour Standard Rate $0.70 per ounces Standard Unit Cost $0.06 per gallons $11.00 per hour $1.68 1.32 15.40 During the month of July, Collin's employees gave 420 baths. The actual results were 760 ounces of shampoo used (cost of $600.40), 7,200 gallons of water used (cost of $648), and labor costs for 360 hours (cost of $4,536). Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. Complete this question by entering your answers in the tabs below. Required Required 2 Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. Note:…
Required information Use the following information for the Quick Study below. (Algo) (The following information applies to the questions displayed below] BatCo makes baseball bats. Each bat requires 1.00 pounds of wood at $18 per pound and 0.25 direct labor hour at $20 per hour, Overhead is assigned at the rate of $40 per direct labor hour. QS 21-6 (Algo) Total Cost variances LO P2 Assume the actual cost to manufacture 130 bats is $4,940.00. Compute the total cost variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Actual cost Budgeted standard cost Total cost variance
Maps omework i News A company reports the following for one of its products. Direct materials standard (4 pounds @ $2 per pound) Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used AQ = Actual Quantity SQ = Standard Quantity F1 2 Translate M SmartBook 2.0 M SmartBook 2.0 W AP Actual Price SP Standard Price Compute the direct materials price and quantity variances and identify each as favorable or unfavorable. Actual Cost X X F2 # 3 E 80 F3 $ 4 R a F4 % 5 F5 T 0 X X < Prev Muslimin ‹6 A $ 525,000 Saved $ 8 per unit 300,000 pounds 61,000 units F6 C 2 of 7 Y & 7 www K F7 U Next * 8 DII F8 Standard Cost X X ( 9 DD F9 0 ) A F10 D
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] Hart Company made 3,100 shelves using 22,100 pounds of wood costing $278.460. The company's direct materials standards for one shelf are 8 pounds of wood at $12.50 per pound. Exercise 21-14A (Algo) Recording and closing materials variances LO P6 Hart Company uses a standard costing system. Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the direct materials variances. View transaction list Journal entry worksheet < A Record direct materials price and quantity variances, Note: Enter debits before credits.
ABC Company produces jackets. The following DM standards are for each jacket: Standard Quantity Standard Price 9 yards $4.00 per yard Fabric Actual results were as follows: Number of jackets produced Yards of fabric purchased Yards of fabric used Cost of fabric purchased The direct material price variance is: O$6,000 unfavorable O$14,000 favorable O$6,000 favorable 7,000 70,000 65,000 $266,000 $14,000 unfavorable None of the other answers are correct
Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] BatCo makes baseball bats. Each bat requires 1.00 pounds of wood at $16 per pound and 0.30 direct labor hour at $20 per hour. Overhead is assigned at the rate of $40 per direct labor hour. QS 21-6 (Algo) Total Cost variances LO P2 Assume the actual cost to manufacture 150 bats is $5,850.00. Compute the total cost variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Actual cost Budgeted standard cost Total cost variance $ 0 Next > raw be here to search < Prev S 5 P of 10 W
BOTE Inc. produces sustainable plastic bottles, The following tables show the detailed production budgets, volumes, costs, ABC cost drivers and the traditional volume-based costing (VBC) overhead allocation based on direct labor hours (overhead rate base). Production Data for the Year Plastic bottle Selling price 6.00 Budget units of production 20,000 Material cost per unit P 0.50 Direct labor hours per unit 0.05 Direct labor cost per hour P 5.00 quality inspections per unit 0.025 Machine hours per unit 0.3 Moves required per unit 4 Activity Conversion Costs for 20,000 units (Budgeted Overhead Cost) Indirect Cost Components Costs (Php) Cost Driver Total Depreciation on machinery 75,000 Machine hours 4,010 Quality and finishing 24,000 No of quality inspections 6,000 Material handling 30,000 No. of moves 63,848 Total Indirect Cost 129,000 The budgeted direct…
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials anddirect labor standards for one unit of Zoom are given below:Standard Quantity Standard Price Standardor Hours or Rate CostDirect materials ........... 4.6 pounds $2.50 per pound $11.50Direct labor ................. 0.2 hours $12.00 per hour $2.40During the most recent month, the following activity was recorded:a. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound.b. All of the material purchased was used to produce 4,000 units of Zoom.c. 750 hours of direct labor time were recorded at a total labor cost of $10,425.Required:1. Compute the direct materials price and quantity variances for the month.2. Compute the direct labor rate and efficiency variances for the month.