Crystal Charm Company makes handcrafted silver charms that attach to jewelry such as a necklace or bracelet. Each charm is adorn with two crystals of various colors. Standard costs follow: Silver Crystals Direct labor Standard Quantity 0.40 ounce 5.00 2.00 hours Standard Price (Rate) $23.00 per ounce $ 0.40 crystal $ 12.00 per hours Standard Unit Cost $ 9.20 2.00 24.00 During the month of January, Crystal Charm made 1,530 charms. The company used 577 ounces of silver (total cost of $13,848) and 7,700 crystals (total cost of $2,926.00), and paid for 3,210 actual direct labor hours (cost of $36,915.00). Required: 1. Calculate Crystal Charm's direct materials variances for silver and crystals for the month of January. 2. Calculate Crystal Charm's direct labor variances for the month of January. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Crystal Charm's direct materials variances for silver and crystals for the month of January. Note: Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Direct Material Price Variance Direct Material Quantity Variance Silver Crystals

How should be the procedure for this questions. Please Scenario: Digital Fingers Glovers bought 378 pairs of gloves at $26 per pair. 220 pairs were sold in the first month, at the regular price of $42 per pair. Another 64 pairs were sold in the second month at a "one-third-off" the regular selling price. The remaining gloves were cleared out in the third month at $16.68. The store's overhead is 17% of cost.   1. What were the total sales? 2. What was the effective rate of markup as a percent of cost? 3. What was the total operating profit or loss on the sale of all of the gloves?

Big Sur Water Sports, Inc., manufactures fiberglass boards used for riding the waves at the beach. The products are sold under the brand name Crazy Board. The standard cost for material and labor is $89.20 per board. This includes 8 kilograms of direct material at a standard cost of $5.00 per kilogram and 6 hours of direct labor at $8.20 per hour. The following data pertain to November: Purchases of material: 46,500 kilograms for $248,000 Total actual direct labor costs: $301,490 Actual hours of direct labor: 36,500 hours Production: 5,600 units 1. Calculate the total direct materials variance 2. Calculate the total direct labor variance Check Figures:   Total Direct Materials Variance $23,845 Unfavorable   Total Direct Labor Variance $25,970 Unfavorable

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Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hour at a rate of $16 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $4,000 per month. The company's policy is to maintain direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of February the company had 9,600 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget Units to produce (1) Prepare direct materials budgets for March and April. (2) Prepare direct labor budgets for March and April. (3) Prepare factory overhead budgets for March and April. Complete this question by entering your answers in the tabs below. Required 1 March April May 3,000 4,300 4,500 Units to produce Required 2 Required 3 Prepare direct materials budgets for March and April. GARDEN YETI Direct Materials…

Crystal Charm Company makes handcrafted silver charms that attach to jewelry such as a necklace or bracelet. Each charm is adorned with two crystals of various colors. Standard costs follow: Silver Crystals Direct labor Standard Quantity 0.65 oz. 5.00 Standard (Rate) $25.00 per oz. $ 0.50 per crystal 2.00 hrs. $15.00 per hr. During the month of January, Crystal Charm made 1,500 charms. The company used 935 ounces of silver (total cost of $24,310) and 7,550 crystals (total cost of $3,624.00), and paid for 3,150 actual direct labor hours (cost of $45,675.00). Standard Unit Cost $16.25 2.50 30.00 Required: 1. Calculate Crystal Charm's direct materials variances for silver and crystals for the month of January. (Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Direct Material Price Variance Direct Material Quantity Variance Silver Crystals

Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has the following manufacturing costs: Direct materials $1.65 Direct labor 0.60 Variable overhead 0.80 Fixed overhead 1.90     Total unit cost $4.95 For the coming year, Play-Disc expects to make 330,000 plastic discs, and to sell 311,000 of them. Budgeted beginning inventory in units is 16,000 with unit cost of $4.95. (There are no beginning or ending inventories of work in process.) Required: Question Content Area 1. Prepare an ending finished goods inventory budget for Play-Disc for the coming year. If required, round your answers to the nearest cent. Play-DiscEnding Finished Goods Inventory BudgetFor the Coming Year Unit costs:     $- Select -   - Select - Overhead:     - Select -   - Select - Total cost per unit $fill in the blank 04d2fcfb606b005_9 Total ending inventory cost $fill in the blank 04d2fcfb606b005_10   Question Content Area 2. What…

Hartley Uniforms produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Hartley Uniforms reports the following cost data for the past year: Budget Actual 7,600 hours 6,100 hours Direct labor hours Machine hours 7,200 hours 6,300 hours Depreciation on salespeople's autos $23,000 $23,000 Indirect materials $48,500 $50,500 Depreciation on trucks used to deliver uniforms to customers solla $13,000 $70,000 $40,000 $11,000 Depreciation on plant and equipment Indirect manufacturing labor $72,500 $42,000 Customer service hotline $19,000 $21,000 Plant utilities $35,900 $38,400 Direct labor cost $72,500 $85,500 Requirements 1odel tba 1. Compute the predetermined manufacturing overhead rate. 2. Calculate the allocated manufacturing overhead for the past year. 3. Compute the underallocated or overallocated manufacturing overhead. How will this underallocated or overallocated manufacturing overhead be disposed of? 4. How can managers usA acco

Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed Element per Month Variable Element per Liter Actual Total for June Revenue $ 20.00 $122,540 Raw materials $ 5.45 $ 36,030 Wages $ 6,400 $ 2.20 $ 20,200 Utilities $ 2,430 $ 1.00 $ 9,100 Rent $3,400 $3,400 Insurance $ 2,150 $2,150 Miscellaneous $ 730 $ 1.15 $ 8,050 While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of liters of gelato sold. For example, wages should be $6,4 00 plus $2.20 per liter of gelato sold and the actual wages for June were $20,200. Via Gelato expected to sell 6,300 liters in June, but actually sold 6,500 liters. Required: Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)