Shade Company adopted a standard cost system several years ago. The standard costs for direct labor and direct materials for its single product are as follows: Materials (5 kilograms × $12 per kilogram) = $60 per unit; direct labor (3.5 hours per unit × $20 per hour) = $70 per unit. All materials are issued at the beginning of processing. The operating data shown below were taken from the records for December:   In-process beginning inventory None   In-process ending inventory—80% complete as to labor 1,020 units Units completed during the period 6,820 units Budgeted output 7,380 units Purchases of materials (in kilograms) 43,000   Total actual direct labor cost incurred $ 538,748   Direct labor hours worked (AQ) 27,100 hours Materials purchase-price variance $ 4,300 favorable Increase in materials inventory in December 3,050 kilograms   The actual total cost of direct materials used in production during December was:

Vinubhai

Carbata Company manufactures low-cost, basic tool kits in bulk. Below is the latest information for last month's production. Inventory on September 1 % Complete Units Started Costs Added in September Inventory on September 30 % Complete Step 1: Account for all Units Beginning Inventory Units Started Units to Account for Units Ending Inventory Units Completed and Transferred Units to Account for 3,150 950 $ Units 1,200 Materials Cost Conversion Cost 5,550 $ 2,354 60% 950 3,150 4,100 1,200 2,900 1,700 $ Required: Use the information above to complete a Process Costing Production Report under the Weighed Average Assumption. 28,940 $ 80% 30% 8,156 60%

TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product Standard Quantity Standard Price Standard Cost Direct Materials 8 pounds $ 2.00 per pound $ 16.00 Direct Labor 0.25 hour $ 8.40 per hour 2.10 $ 18.10 During November, TaskMaster purchased 161.000 pounds of direct materials at a total cost of $338.100. The total factory wages for November were $44.000, 90% of which were for direct labor. TaskMaster manufactured 19.100 units of product during November using 143,250 pounds of direct materials and 5.020 direct labor hours. Is the direct materials price variance favorable or unfavorable? Multiple Choice Unfavorable The varlance Is zero and Is nether favorable nor unfavorable. Favorable There Is not enough information to determine.

TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product.   Standard Quantity Standard Price Standard Cost Direct Materials 8 pounds $ 1.90 per pound $ 15.20 Direct Labor 0.25 hour $ 8.20 per hour 2.05           $ 17.25 During November, TaskMaster purchased 160,500 pounds of direct materials at a total cost of $288,900. The total factory wages for November were $43,000, 90% of which were for direct labor. TaskMaster manufactured 19,000 units of product during November using 142,500 pounds of direct materials and 5,010 direct labor-hours. What is the direct labor rate variance for November?

Give typing answer with explanation and conclusion  nvex Mechanical Supplies produces a product with the following costs as of July 1, 20X1: Material $6 Labor 4 Overhead 3 $13 Beginning inventory at these costs on July 1 was 6,100 units. From July 1 to December 1, Convex produced 17,000 units. These units had a material cost of $10 per unit. The costs for labor and overhead were the same. Convex uses FIFO inventory accounting. a. Assuming that Convex sold 19,000 units during the last six months of the year at $20 each, what would gross profit be? b. What is the value of ending inventory?

Required information [The following information applies to the questions displayed below.] Annin Laboratories uses the FIFO method to account for its work-in-process inventories. The accounting records show the following information for February: Beginning WIP inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs $ 26,553 8,605 Beginning inventory Current period units started Ending inventory 159,792 82,020 Quantity information is obtained from the manufacturing records and includes the following: 6,000 units 45,200 units (40% complete as to materials, 15% complete as to conversion) 23,000 units (75% complete as to materials, 35% complete as to conversion) Required: a. Compute the equivalent units for the materials and conversion cost calculations. b. Compute the cost per equivalent unit for direct materials and for conversion costs for February using the FIFO method.

Exercise 8-42 (Algo) Prepare a Production Cost Report: Weighted-Average Method (LO 8-2, 3, 4, 6) Lansing, Inc. provides the following information for one of its department’s operations for June (no new material is added in Department T).         WIP inventory—Department T     Beginning inventory ((8,300 units, 20% complete with respect to Department T costs)     Transferred-in costs (from Department S) $ 37,100 Department T conversion costs   9,842 Current work (19,100 units started)     Prior department costs   91,680 Department T costs   183,150   The ending inventory has 3,300 units, which are 60 percent complete with respect to Department T costs and 100 percent complete for prior department costs.   Required: a. Complete the production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places.)