Can you show me how this is done?   Porter Manufacturing Company uses a standard cost accounting system. In 2011, the company produced 25,000 units. Each unit took several pounds of direct materials and 2 standard hours of direct labor at a standard hourly rate of $11. Normal capacity was 50,000 direct labor hours. During the year, 54,399 pounds of raw materials were purchased at $1.2 per pound. All materials purchased were used during the year.  If the direct labor quantity variance was $4,800 favorable, what were the direct labor hours actually worked? Selected Answer:  2,345 Correct Answer:  49,563.64 ± 2

Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product It manufactures. Direct materials (15 lbs. @ $4 per lb.) Direct labor (2 hrs. @ $15 per hr.) During May the company incurred the following actual costs to produce 8,100 units. Direct materials (125,300 lbs. @ $3.80 per lb.) Direct labor (20,400 hrs. @ $15.10 per hr.). AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate AQ - Actual Quantity SQ - Standard Quantity = AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no varlance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each varlance by selecting for favorable, unfavorable, and no varlance. Round "Rate per hour" answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. 0 $60…

Can you show me how this is done?   Porter Manufacturing Company uses a standard cost accounting system. In 2011, the company produced 28,000 units. Each unit took several pounds of direct materials and 2 standard hours of direct labor at a standard hourly rate of $12.00. Normal capacity was 50,000 direct labor hours. During the year, 53,965 pounds of raw materials were purchased at $1.3 per pound. All materials purchased were used during the year.  If the materials price variance was $4,649 favorable, what was the standard materials price per pound? Selected Answer:  8,643 Correct Answer:  1.39 ± 0.01

Carson Manufacturing, Inc. makes refrigerator replacement parts. In May, Carson produced 2,000 units. Costs incurred were as follows: Direct Labor per unit (2 hrs. @ $15/hr.): $30 Direct Materials per unit: $15 Indirect Labor (maintenance): $35,000 Indirect Materials (total used): $2,000 Manufacturing Overhead application rate (per unit): $5 Given this data, calculate the total Prime Costs for the units produced in the month of May.

Fairground, Inc. is a manufacturer. During its first year of operations, the firm produced 21,600 units and sold 18,900 units at a sales price of $32.50 per unit.  The firm incurred the following manufacturing costs: Direct materials, $17.50 per unit; Direct labor, $6.25 per unit; Variable factory overhead, $2.75 per unit; and, Fixed overhead, $32,400 total.  First year income reported on its income statement under absorption costing is determined to be $73,900. How much income is reported for the first year under variable costing?

Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (6 pounds at $1.60 per pound) $9.60 Direct labor (6 hours at $10.00 per hour) $60.00 During the month of April, the company manufactures 310 units and incurs the following actual costs. Direct materials purchased and used (2,400 pounds) $4,080 Direct labor (1,880 hours) $18,612 Compute the total, price, and quantity variances for materials and labor. Total materials variance $ Unfavorable Materials price variance $ Unfavorable Materials quantity variance $ Unfavorable Total labor variance Unfavorable Labor price variance Favorable Labor quantity variance Unfavorable %24 %24 %24