Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below:     Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials ? $ 4.00 per yard $ ? Direct labor ? ?   ? Variable manufacturing overhead ? $ 2 per direct labor-hour ? Total standard cost per unit $ ?   Overhead is applied to production on the basis of direct labor-hours. During March, 700 backpacks were manufactured and sold. Selected information relating to the month’s production is given below:     Materials Used Direct Labor Variable Manufacturing Overhead Total standard cost allowed* $ 11,200   $ 10,500 $ 2,100 Actual costs incurred $ 8,925   ? $ 4,032 Materials price variance ?       Materials quantity variance $ 700 U     Labor rate variance     ?   Labor efficiency variance     ?   Variable overhead rate variance ? Variable overhead efficiency variance ?   *For the month's production.   The following additional information is available for March’s production:   Actual direct labor-hours 1,050   Difference between standard and actual cost per backpack produced during March $ 0.34 F   Required: Hint:  It may be helpful to complete a general model diagram for direct materials, direct labor, and variable manufacturing overhead before attempting to answer any of the requirements.   7. What was the variable overhead rate variance for March? The variable overhead efficiency variance? 8. Prepare a standard cost card for one backpack. Can you help me with this problem with an explanation, please? Thank you :)

Could you please answer all the reuired fields correctly.

David Manufacturing, which uses the high-low method for estimating cost function, makes a product called Kwan. The company incurs three different manufacturing cost types (A, B, and C) and has a relevant range of operation between 4,000 units and 10,000 units per month. Per-unit costs at two different activity levels for each cost type are presented below. Type A Type B Type C Total 5,000 units $7 $12.60 $4 $23.60 7,500 units $7 $8.40 $3 $18.40 Required: a) Classify each of the costs (A, B, and C) as either fixed or variable or semi-variable b) Write down a linear cost function that expresses the behavior of Shum's total manufacturing cost as a function of # of units produced. c) If Shum produces 10,000 units, what would be the total cost of manufacturing? d) If all fixed costs (or fixed components of costs) decrease by 10% and all variable costs (or variable components of costs) decrease by 10%, what would be the total cost of manufacturing for an activity level of production of 8,000…

! Required information [The following information applies to the questions displayed below.] BatCo makes baseball bats. Each bat requires 1.00 pounds of wood at $22 per pound and 0.30 direct labor hour at $20 per hour. Overhead is assigned at the rate of $40 per direct labor hour. Prepare a standard cost card for a baseball bat for BatCo. (Round your final answers to 2 decimal places.) Inputs Direct materials Direct labor Overhead Standard quantity or hours pounds DLH DLH Standard price or rate Standard cost per unit

Tom’s Shoe Repair provides a variety of shoe and repair services. Analysis of monthly costs revealed the following cost formulas when direct labor hours are used as the basis of cost determination: Supplies: y = $0 + $4.00X Production supervision and direct labor: y = $500 + $7.00X Utilities: y = $350 + $5.40X Rent: y = $450 + $0.00X Advertising: y = $75 + $0.00X a. Prepare a flexible budget at 250, 300, 350, and 400 direct labor hours. b. Calculate a total cost per direct labor hour at each level of activity. c. Tom’s employees usually work 350 direct labor hours per month. The average shoe repair requires 1.25 labor hours to complete. Tom wants to earn a 40 percent margin on his cost. What should be the average charge per customer, rounded to the nearest dollar to achieve Tom’s profit objective?

Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below:     Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials ? $ 4.00 per yard $ ? Direct labor ? ?   ? Variable manufacturing overhead ? $ 2 per direct labor-hour ? Total standard cost per unit $ ?   Overhead is applied to production on the basis of direct labor-hours. During March, 700 backpacks were manufactured and sold. Selected information relating to the month’s production is given below:     Materials Used Direct Labor Variable Manufacturing Overhead Total standard cost allowed* $ 11,200   $ 10,500 $ 2,100 Actual costs incurred $ 8,925   ? $ 4,032 Materials price variance ?       Materials quantity variance $ 700 U     Labor rate variance     ?   Labor efficiency variance     ?   Variable overhead rate variance ? Variable overhead efficiency variance ?   *For…

BatCo makes baseball bats. Each bat requires 1.00 pounds of wood at $18 per pound and 0.35 direct labor hour at $30 per hour. Overhead is assigned at the rate of $60 per direct labor hour.

Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor-Hours per Hubs Sprockets Unit 0.50 0.10 Annual Production 13,000 units 41,000 units Additional information about the company follows: a. Hubs require $35 in direct materials per unit, and Sprockets require $14. b. The direct labor wage rate is $10 per hour. c. Hubs require special equipment and are more complex to manufacture than Sprockets. d. The ABC system has the following activity cost pools: Activity Cost Pool (Activity Measure) Machine setups (number of setups) Special processing (machine-hours) General factory (organization-sustaining) Required: 1. Compute the activity rate for each activity cost pool. Estimated Overhead Activity Cost Hubs $ 20,790 105 Sprockets 84 Total $ 200,000 5,000 0 $ 68,000 NA NA 189 5,000 NA 2. Determine the unit product cost of each product according to the ABC system

Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a single backpack are given below:     Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials ? $ 4.00 per yard $ ? Direct labor ? ?   ? Variable manufacturing overhead ? $ 2 per direct labor-hour ? Total standard cost per unit $ ?   Overhead is applied to production on the basis of direct labor-hours. During March, 700 backpacks were manufactured and sold. Selected information relating to the month’s production is given below:     Materials Used Direct Labor Variable Manufacturing Overhead Total standard cost allowed* $ 11,200   $ 10,500 $ 2,100 Actual costs incurred $ 8,925   ? $ 4,032 Materials price variance ?       Materials quantity variance $ 700 U     Labor rate variance     ?   Labor efficiency variance     ?   Variable overhead rate variance ? Variable overhead efficiency variance ?   *For…

Subject: acounting