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Question 6 of 7 < Diane Buswell examined some of the accounting records and reported that Current Designs purchased 1.995 pounds of polyethylene powder for this order at a total cost of $3,791. Thirty Five (35) finishing kits were assembled at a total cost of $6.405. The payroll records showed that the type I employees worked 101 hours on this project at a total cost of $1,515. The type Il finishing employees worked 146 hours at a total cost of $1,861.50. A total of 35 kayaks were produced for this order. The standards that had been developed for this model of kayak were used in CD2 and are reproduced here. For each kayak: 53 pounds of polyethylene powder at $1.50 per pound 1 finishing kit (rope, seat, hardware, etc.) at $188 3 hours of type I labor from people who run the oven and trim the plastic at a standard wage rate of $15 per hour 4 hours of type Il labor from people who attach the hatches and seat and other hardware at a standard wage rate of $12 per hour. Quantity variance for polyethylene powder $ Calculate the eight variances that are listed below. (Round price variance for type ll workers to 2 decimal places, e.g. 15.25 and all other answers to O decimal places, e.g. 25.) Price variance for polyethylene powder Quantity variance for finishing kits Price variance for finishing kits Quantity variance for type I workers Price variance for type I workers Quantity variance for type ll workers Price variance for type Il workers $ $ $ 0 0 Unfavorable Unfavorable 18/24 Neither favorable nor unfavorable Favorable Favorable Neither favorable nor unfavorable V Unfavorable !!! Unfavorable

Question 6 of 7 < Diane Buswell examined some of the accounting records and reported that Current Designs purchased 1.995 pounds of polyethylene powder for this order at a total cost of $3,791. Thirty Five (35) finishing kits were assembled at a total cost of $6.405. The payroll records showed that the type I employees worked 101 hours on this project at a total cost of $1,515. The type Il finishing employees worked 146 hours at a total cost of $1,861.50. A total of 35 kayaks were produced for this order. The standards that had been developed for this model of kayak were used in CD2 and are reproduced here. For each kayak: 53 pounds of polyethylene powder at $1.50 per pound 1 finishing kit (rope, seat, hardware, etc.) at $188 3 hours of type I labor from people who run the oven and trim the plastic at a standard wage rate of $15 per hour 4 hours of type Il labor from people who attach the hatches and seat and other hardware at a standard wage rate of $12 per hour. Quantity variance for polyethylene powder $ Calculate the eight variances that are listed below. (Round price variance for type ll workers to 2 decimal places, e.g. 15.25 and all other answers to O decimal places, e.g. 25.) Price variance for polyethylene powder Quantity variance for finishing kits Price variance for finishing kits Quantity variance for type I workers Price variance for type I workers Quantity variance for type ll workers Price variance for type Il workers $ $ $ 0 0 Unfavorable Unfavorable 18/24 Neither favorable nor unfavorable Favorable Favorable Neither favorable nor unfavorable V Unfavorable !!! Unfavorable

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 6 of 7 < > Diane Buswell examined some of the accounting records and reported that Current Designs purchased 1,995 pounds of polyethylene powder for this order at a total cost of $3,791. Thirty Five (35) finishing kits were assembled at a total cost of $6.405. The payroll records showed that the type I employees worked 101 hours on this project at a total cost of $1,515. The type Il finishing employees worked 146 hours at a total cost of $1,861.50. A total of 35 kayaks were produced for this order. The standards that had been developed for this model of kayak were used in CD2 and are reproduced here. For each kayak: 53 pounds of polyethylene powder at $1.50 per pound 1 finishing kit (rope, seat, hardware, etc.) at $188 3 hours of type I labor from people who run the oven and trim the plastic at a standard wage rate of $15 per hour 4 hours of type Il labor from people who attach the hatches and seat and other hardware at a standard wage rate of $12 per hour. Calculate the eight variances that are listed below. (Round price variance for type II workers to 2 decimal places, e.g. 15.25 and all other answers to O decimal places, e.g. 25.) Quantity variance for polyethylene powder $ Price variance for polyethylene powder Quantity variance for finishing kits Price variance for finishing kits Quantity variance for type I workers Price variance for type I workers Quantity variance for type ll workers Price variance for type Il workers eTextbook and Media $ $ 0 0 Unfavorable Unfavorable 18/24 E Neither favorable nor unfavorable v Favorable Favorable Neither favorable nor unfavorable Unfavorable Unfavorable ***
Transcribed Image Text:Question 6 of 7 < > Diane Buswell examined some of the accounting records and reported that Current Designs purchased 1,995 pounds of polyethylene powder for this order at a total cost of $3,791. Thirty Five (35) finishing kits were assembled at a total cost of $6.405. The payroll records showed that the type I employees worked 101 hours on this project at a total cost of $1,515. The type Il finishing employees worked 146 hours at a total cost of $1,861.50. A total of 35 kayaks were produced for this order. The standards that had been developed for this model of kayak were used in CD2 and are reproduced here. For each kayak: 53 pounds of polyethylene powder at $1.50 per pound 1 finishing kit (rope, seat, hardware, etc.) at $188 3 hours of type I labor from people who run the oven and trim the plastic at a standard wage rate of $15 per hour 4 hours of type Il labor from people who attach the hatches and seat and other hardware at a standard wage rate of $12 per hour. Calculate the eight variances that are listed below. (Round price variance for type II workers to 2 decimal places, e.g. 15.25 and all other answers to O decimal places, e.g. 25.) Quantity variance for polyethylene powder $ Price variance for polyethylene powder Quantity variance for finishing kits Price variance for finishing kits Quantity variance for type I workers Price variance for type I workers Quantity variance for type ll workers Price variance for type Il workers eTextbook and Media $ $ 0 0 Unfavorable Unfavorable 18/24 E Neither favorable nor unfavorable v Favorable Favorable Neither favorable nor unfavorable Unfavorable Unfavorable ***
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