Rainbow Paint Shop mixes custom colors. Job #456 used: base paint 3.5 gallons at $28/gallon, tint additives 1.2 gallons at $45/gallon. Show the total material cost.

Deporte Company produces single-colored t-shirts. Materials for the shirts are dyed in large vats. After dying the materials for a given color, the vats must be cleaned and prepared for the next batch of materials to be colored. The following standards for changeover for a given batch have been established: Direct materials (2.4 lbs. @ $0.95) $2.28 Direct labor (0.75 hr. @ $7.40) 5.55 Standard prime cost $7.83 During the year, 79,500 pounds of material were purchased and used for the changeover activity. There were 30,000 batches produced, with the following actual prime costs: Direct materials $ 63,000 Direct labor $163,385 (for 22,450 hrs.) Required: Compute the materials and labor variances associated with the changeover activity, labeling each variance as favorable or unfavorable.

Deporte Company produces single-colored t-shirts. Materials for the shirts are dyed in large vats. After dying the materials for a given color, the vats must be cleaned and prepared for the next batch of materials to be colored. The following standards for changeover for a given batch have been established: Direct materials (2.4 lbs. @ $0.95) $2.28 Direct labor (0.75 hr. @ $7.40) 5.55 Standard prime cost $7.83 During the year, 79,500 pounds of material were purchased and used for the changeover activity. There were 30,000 batches produced, with the following actual prime costs: Direct materials $73,710 Direct labor $189,527 (for 22,450 hrs.) Required: Compute the materials and labor variances associated with the changeover activity, labeling each variance as favorable or unfavorable. Material Variances     Price variance $   Usage variance $   Labor Variances     Rate variance $   Efficiency variance $

Coronado, Ltd. manufactures shirts, which it sells to customers for embroidering with various slogans and emblems. The standard cost card for the shirts is as follows.     Standard Price   Standard Quantity   Standard Cost   Direct materials   $3 per yard   2.00  yards   $6.00   Direct labor   $14 per DLH   0.75  DLH   10.50   Variable overhead   $3.20 per DLH   0.75  DLH   2.40   Fixed overhead   $3 per DLH   0.75  DLH   2.25                 $21.15     Sandy Robison, operations manager, was reviewing the results for November when he became upset by the unfavorable variances he was seeing. In an attempt to understand what had happened, Sandy asked CFO Suzy Summers for more information. She provided the following overhead budgets, along with the actual results for November.The company purchased 82,400 yards of fabric and used 94,000 yards of fabric during the month. Fabric purchases during the month were made at $2.80 per yard. The direct labor payroll ran…

Concord, Ltd. manufactures shirts, which it sells to customers for embroidering with various slogans and emblems. The standard cost card for the shirts is as follows.     Standard Price   Standard Quantity   Standard Cost   Direct materials   $3 per yard   2.00  yards   $6.00   Direct labor   $14 per DLH   0.75  DLH   10.50   Variable overhead   $3.20 per DLH   0.75  DLH   2.40   Fixed overhead   $3 per DLH   0.75  DLH   2.25                 $21.15   Sandy Robison, operations manager, was reviewing the results for November when he became upset by the unfavorable variances he was seeing. In an attempt to understand what had happened, Sandy asked CFO Suzy Summers for more information. She provided the following overhead budgets, along with the actual results for November.The company purchased 82,100 yards of fabric and used 93,700 yards of fabric during the month. Fabric purchases during the month were made at $2.80 per yard. The direct labor payroll ran…

Designer Furniture Company manufactures designer home furniture. Designer Furniture uses a standard cost system. The direct labor, direct materials, and factory overhead standards for a finished dining room table are as follows: Line Item Description Classification Value Direct labor: standard rate $24.00 per hr. Direct labor: standard time per unit 3.50 hrs. Direct materials (oak): standard price $8.50 per bd. ft. Direct materials (oak): standard quantity 15 bd. ft. Variable factory overhead: standard rate $3.20 per direct labor hr. Fixed factory overhead: standard rate $0.80 per direct labor hr. a.  Determine the standard cost per dining room table. Round to two decimal places.fill in the blank 1 of 1$ per table

The question and answer choices are in the photo provided.

Lally, Inc. produces universal remote controls. Lally uses a JIT costing system. One of the company's products has a standard direct materials cost of $9 per unit and a standard conversion cost of $35 per unit. During January 2018, Lally produced 500 units and sold 495 units on account at $45 each. It purchased $4,800 of direct materials on the account and incurred actual conversion costs totaling $14,000. Requiremets : 1. Prepare summary jounal entries for January. 2. The January 1, 2018, balance of the Raw and In-Process inventory account was $70. Use a T - account to find the January 31 balance. 3. Use a T - account to determine wheither conversion costs are overallocated or unerallocated for the month. By how much? Prepare the journal entry to adjust the Conversion Costs account.

Exercise 1) Deporte Company produces single-colored t-shirts. Material for the shirts are dyed in large vats. After dying the materials for a given color, the vats must be cleaned and prepared for the next batch of materials to be colored. The following standards for changeover for a given batch have been established: Direct materials (1.6lbs. @ $0.95) Direct labor (0.75 hr. @ $7.40) Standard prime cost $1.52 5.55 $7.07 During the year, 50,000 pounds of material were purchased and used for the changeover activity. There were 30,300 batches produced, with the following actual prime costs: Direct materials Direct labor $49,500 $169,875 (for 22,500 hrs.) Required: Compute MPV, MUV, LRV, and LEV. Exercise 2) At the beginning of the year, Honey Company had beginning operating assets of $198,000. During the year, Honey Co. had operating income of $25,500 and expenses of $124,500. At the end of the year, they had operating assets of $177,000. Required: Compute profit margin, turnover, and ROI…

Sanjay Company manufactures a product in a factory that has two producing departments, Assembly and Painting, and two support departments, S1 and S2. The activity driver for S1 is square footage, and the activity driver for S2 is number of machine hours. The following data pertain to Sanjay: Line Item Description SupportDepartmentsS1 SupportDepartmentsS2 ProducingDepartmentsAssembly ProducingDepartmentsPainting Direct costs $200,000 $140,000 $115,000 $96,000 Normal activity:          Square footage — 500 1,875 625  Machine hours 337 — 3,200 12,800