Lenni Clothing Co. manufactures clothing in a small manufacturing facility. Manufacturing has 25 employees. Each employee presently provides 40 hours of productive labor per week. Information about a production week is as follows: Standard wage per hr. $12.00 Standard labor time per unit 12 min. Standard number of yds. of fabric per unit 5.0 yds. Standard price per yd. of fabric $5.00 Actual price per yd. of fabric $5.10 Actual yds. of fabric used during the week 26,200 yds. Number of units produced during the week 5,220 Actual wage per hr. $11.80 Actual hrs. for the week 1,000 hrs.

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Nobel Ltd is a wool coat manufacturer. It produced 80 units in September. The following cost information is available:•   Wool fabric: $150 per unit•   Depreciation of production equipment: $3,000 per month•   Research and development: $1,000 per month•   Wages of staff involved in cutting, sewing and finishing: $30 per unit•   Designers' salary: $23,000 per month•   Advertising costs: $900 per month•   Indirect material: $40 per unit•   Salary of factory supervisor: $16,000 per month What is the total prime costs for Nobel Ltd in September? a. 14,400 b. 12,000 c. 24,600 d. 22,200

Faucet Industries Inc. manufactures faucets in a small manufacturing facility. The faucets are made from zinc. Faucet Industries has 70 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows: Standard wage per hour $12.00 Standard labor time per faucet 20 min. Standard number of lbs. of zinc 2.1 lbs. Standard price per lb. of zinc $10.00 Actual price per lb. of zinc $10.25 Actual lbs. of zinc used during the week 15,600 lbs. Number of faucets produced during the week 7,200 Actual wage per hour $12.40 Actual hours per week 2,520 hrs a.  Determine the standard cost per faucet for direct materials and direct labor. Do not round intermediate calculations and round your answers to the nearest cent.

ABC company manufactures rivets in an automated factory. The company uses standard costing system to control costs & to assign costs to its inventory. Price Standard Quantity Standard Direct material $3/ unit 16 meters/rivet Direct labour $11 per hour 3 hours per rivet Variable overheads are estimated at $5.50 per rivet. Fixed overheads are $26,000 per month. The standard fixed overhead rate is based on an estimated production of 1,000 per month. Required: a. Prepare a production budget for the coming year based on a planned production of 12,000 rivets. b. Compare the budget prepared in a) with a flexible budget based on actual production of 15,000 rivets.

Cozy, Inc., manufactures small and large blankets. It estimates $303,263 in overhead during the manufacturing of 80,487 small blankets and 85,543 large blankets. What is the predetermined overhead rate per machine hour if a small blanket takes 4 machine hour and a large blanket takes 1 machine hours? Round to the nearest penny, two decimal places.

awson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy:   Direct materials: 7 microns per toy at $0.35 per micron Direct labor: 1.1 hours per toy at $7.00 per hour   During July, the company produced 5,400 Maze toys. The toy's production data for the month are as follows:   Direct materials: 73,000 microns were purchased at a cost of $0.33 per micron. 25,750 of these microns were still in inventory at the end of the month. Direct labor: 6,340 direct labor-hours were worked at a cost of $48,818.   Required: 1. Compute the following variances for July: (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…

Regent Corporation uses a standard cost system to account for the costs of its one product. Materials standards are 3 pounds of material at $14.00 per pound, and labor standards are 9 hours of labor at a standard wage rate of $10.5. During July, Regent Corporation produced 3,050 units. Materials purchased and used totaled 10,600 pounds at a total cost of $143,213. Payroll totaled $151,780 for 38,150 hours worked. Required: a. Calculate the direct materials price variance. Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). b. Calculate the direct materials quantity variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). c. Calculate the direct materials spending variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero…

Jericho Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 50 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows: Line Item Description Value Standard number of lbs. of brass 1.3 lbs. Standard price per lb. of brass $11.50 Standard wage per hour $10.80 Standard labor time per unit 20 min. Actual price per lb. of brass $11.75 Actual lbs. of brass used during the week 12,051 lbs. Number of units produced during the week 9,000 Actual wage per hour $11.12 Actual hours for the week (50 employees × 36 hours) 1,800 Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Line Item Description Cost per Unit Direct materials standard cost per unit $fill in the blank 1 Direct labor standard cost per unit $fill in the blank 2 Total standard cost…

Becky's Bakery produces two products, cake and pie. Becky's Bakery sells each cake for $15.00 and each pie for $10.00. Variable costs for cakes and pies are respectively, $7.00 and $6.00. There are 3,200 direct labor hours per month available for producing one of the two products. Fixed manufacturing overhead cost is allocated at $1,000 per month. Each cake and pie require 2 direct labor hours. Compute the following: A. Contribution margin per unit for each product. B. Contribution margin per direct labor hour for each product. C. The total number of products produced if only that product is produced each month. D. Income for a month if only one product is produced and total production is sold.