answer with must must explanation , computation for each parts and steps answer in text form no copy from other answer Jericho Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 40 employees. Each employeepresently provides 32 hours of labor per week. Information about a production week is as follows: Line Item Description Value Standard number of lbs. of brass 1.9 lbs.Standard price per lb. of brass $12.75 Standard wage per hour $17.40 Standard labor time per unit 15 min. Actual price per lb. of brass $13.00 Actual lbs. of brass usedduring the week 12,916 lbs. Number of units produced during the week 6, 600 Actual wage per hour $17.92 Actual hours for the week (40 employees \times 32 hours) 1,280b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearestRequired:a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimalplaces.Direct materials standard cost per unitDirect labor standard cost per unitTotal standard cost per unitIncorrectb. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign andan unfavorable variance as a positive number.Direct Materials Price VarianceDirect Materials Quantity VarianceTotal Direct Materials Cost VarianceUnfavorableUnfavorableUnfavorablec. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Round youranswers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and anunfavorable variance as a positive number.Direct Labor Rate VarianceDirect Labor Time VarianceTotal Direct Labor Cost VarianceUnfavorableFavorableFavorableFeedback

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Description: answer with must must explanation , computation for each parts and steps answer in text form no copy from other answer Jericho Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has

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Jericho Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 40 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Line Item Description Value Standard number of lbs. of brass 1.9 lbs. Standard price per lb. of brass $12.75 Standard wage per hour $17.40 Standard labor time per unit 15 min. Actual price per lb. of brass $13.00 Actual lbs. of brass used during the week 12,916 lbs. Number of units produced during the week 6, 600 Actual wage per hour $17.92 Actual hours for the week (40 employees \times 32 hours 1,280b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest Required:

Jericho Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 40 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Line Item Description Value Standard number of lbs. of brass 1.9 lbs. Standard price per lb. of brass $12.75 Standard wage per hour $17.40 Standard labor time per unit 15 min. Actual price per lb. of brass $13.00 Actual lbs. of brass used during the week 12,916 lbs. Number of units produced during the week 6, 600 Actual wage per hour $17.92 Actual hours for the week (40 employees \times 32 hours 1,280b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your answers to the nearest Required:

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter9: Standard Costing: A Functional-based Control Approach

Section: Chapter Questions

Problem 33P: Business Specialty, Inc., manufactures two staplers: small and regular. The standard quantities of...

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Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 40 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows: Standard wage per hour $11.40 Standard labor time per unit 20 min. Standard number of Ibs. of brass 1.5 Ibs. Standard price per Ib. of brass $10.50 Actual price per Ib. of brass $10.75 Actual Ibs. of brass used during the week 12,978 Ibs. Number of units produced during the week 8,400 Actual wage per hour $11.74 Actual hours for the week (40 employees x 36 hours) 1,440 Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit %24 Direct labor standard cost per unit Total standard cost per unit b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.…