Dawson Toys, Limited, produces a toy called the Maze with the following standards: Direct materials: 7 microns per toy at $0.33 per micron Direct labor: 1.1 hours per toy at $6.80 per hour During July, the company produced 5,000 Maze toys. The toy's production data for the month are as follows: Direct materials: 79,000 microns were purchased at a cost of $0.29 per micron. 35,250 of these microns were still in inventory at the end of the month. Direct labor. 6,000 direct labor-hours were worked at a cost of $43,200. Required: 1. Compute the following variances for July: Note: 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. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount. a. The materials price and quantity variances. b. The labor rate and efficiency variances. 1a. Material price variance 1a. Material quantity variance 1b. Labor rate variance 1b. Labor efficiency variance

A survey of total project construction costs for a wide range of buildings (hospitals, schools, banks, nursing homes, etc.) in 2006 found that the average cost was $13,136,431. The mechanical and electrical portions of that cost were $2,511,893 and $1,585,384, respectively. If the total project cost in 2017 increases to $15,700,000, what would the mechanical portion of the total cost equal, provided the percentage (a) remained the same as in 2006, and (b) increased by 20% from the 2006 portion?

Paradise Pottery had the following costs in May when production is 800 ceramic pots: materials, $8,700; labor (variable), $2,900; depreciation, $1,100; rent, $900; and other fixed costs, $1,500. If production changes to 900 units, how much will the total variable costs and total fixed costs be, respectively?

An engineer who owns a construction company that specializes in large commercial projects noticed that material costs increased at a rate of 1% per month over the past 12 months. If a material cost index were created for that year with the value of the index set at 100 at the beginning of the year, what is the value of the index at the end of the year? Express your answer to two decimal places.

Mirtha owns an online jewelry store that specializes in earrings. In March, she sells 50 pairs of earrings priced at $15. The cost of materials to create the 50 pairs of earrings was $100. The website she uses to sell her wares costs her $10 a month, and she is also charged 4% on each sale by the company that processes debit/credit card purchases. Which of the following best represents Mirth’s total cost? Group of answer choices A)The $750 Mirtha earned from earring sales minus the materials ($100), online website charge ($10), and payment processing charge (4%) B)The sum of the materials ($100), website charge ($10), and 4% payment processing charge (4%) C)The cost of all the materials used to create the earrings, $100 D)The costs of materials minus the costs it takes to run her business through the online store, in this case the $10 website charges and the 4% payment processing charge

Classify the following costs into either being product cost or period cost:(a) Raw material costs(b) Income taxes paid(c) Interest expenses on borrowed funds(d) Wages incurred in producing products(e) Fire insurance premium paid on factory buildings(f) Electric bill for the warehouse operation(g) Salary paid for engineers(h) Material handling cost related to production(i) Salary paid for plant managerU) Leasing expense for forklift trucks in warehouse operation(k) Mortgage payments on factory buildings

8 The cost of lumber per million board feet (MBF) in January 2007 was $464.49 when the value of the ENR materials cost index (MCI) was 2583.52. If the cost of lumber increased in proportion to the MCI, what was the value of the index when the cost of lumber was $400 per MBF?