Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs relating to a si backpack are given below: Direct materials. Direct labor variable manufacturing overhead Total standard cost per unit standard Quantity or Hours ? ? Total standard cost allowed* Actual costs incurred. Materials price variance Ustoniale quantity unico standard Price or Rate $ 4.00 per yard ? $2 per direct labor-hour Overhead is applied to production on the basis of direct labor-hours. During March, 420 backpacks were manufactured and sold. Selected Information relating to the month's production is given below: Materials Used $ 6,720 $ 5,355 ? 420 Direct Labor $ 4,368 ? standard Cost $? ? ? $? Variable Manufacturing overhead $ 1,092 $ 1,407

Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL’s standard cost card follows:    Standard Quantity Standard Rate Standard Unit Cost Variable manufacturing overhead 0.6 $0.80 $0.48   During August, LLL had the following actual results:        Units produced and sold   26,300 Actual variable overhead $ 9,590 Actual direct labor hours   17,000   Required:Compute LLL’s variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied variable overhead. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)   How do I figure out the variable overhead rate variance? I thought it's AH*(SR-AR) 17,000 * (.80- 9,590/17000=.56) 17000 * (.80-.56)= 4,080??  It says not correct?

Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure incurred the following transactions during July 2023, its first month of operations: July 1 The owner, Manny Gill, invested $4,600 cash. 10 Purchased $2,100 worth of security equipment on credit. 12 Performed security services for a sold-out concert and received $12,000 cash from the client. 14 Paid for expenses; $3,100. 15 Completed security services for a graduation event and sent the client a bill for $1,300. 31 The owner withdrew $210 cash for personal use. Required: 2. Record the journal entries for the month of July, View transaction list Journal entry worksheet 1 2 3 Record the Investment by owner. 5 6 4>

Angle Max Industries produces a product which goes through two operations, Assembly and Finishing, before it is ready to be shipped. Next year's expected costs and activities are shown below. Direct labor hours Machine hours Overhead costs Multiple Choice Assume that the Assembly Department allocates overhead using a plantwide overhead rate based on machine hours. How much total overhead will be assigned to a product that requires 2 direct labor hour and 3.30 machine hours in the Assembly Department, and 4.50 direct labor hours and 0.4 machine hours in the Finishing Department? O$17.60. Assembly 180,000 DLH 380,000 MH $380,000 $20.40. Finishing 148,000 DLH 91, 200 MH $562, 400

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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…

Kelly Fabrics manufactures a specialty monogrammed blanket. The following are the cost standards for this blanket: (Click the icon to view the standards.) Actual results from last month's production of 2,500 blankets are as follows: (Click the icon to view the actual results.) Read the requirements. Requirement 1. What is the standard direct material cost for one blanket? (Round your answer to the nearest cent.) The standard direct material cost for one blanket is Requirements 1. What is the standard direct material cost for one blanket? 2. What is the actual cost per yard of fabric purchased? 3. Calculate the direct material price and quantity variances. 4. What is the standard direct labor cost for one blanket? 5. What is the actual direct labor cost per hour? 6. Calculate the direct labor rate and efficiency variances. 7. Analyze each variance and speculate as to what may have caused that variance. 8. Look at all four variances together (the big picture). How might they all be…

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.

Angler Industries produces a product which goes through two operations, Assembly and Finishing, before it is ready to be shipped. Next year's expected costs and activities are shown below. Direct labor hours Machine hours Overhead costs Multiple Choice O $15.60. O Assume that the Assembly Department allocates overhead based on machine hours, and the Finishing Department allocates overhead based on direct labor hours. How much total overhead will be assigned to a product that requires 1 direct labor hour and 3.4 machine hours in the Assembly Department, and 4.0 direct labor hours and 0.6 machine hours in the Finishing Department? $3.40 Assembly 190,000 DLH 390,000 MH $16.10. $ 390,000 Finishing) 149,000 DLH: 95,550 MH $ 581,100