Shampoo Water Direct labor Standard Quantity ounces gallons. hour 1.4 12 0.9 Standard Rate. $0.40 per ounces $0.04 $9.00 per gallons per hour Required 1 Required 2 During the month of July, Collin's employees gave 320 baths. The actual results were 710 ounces of shampoo used (cost of $340.80), 6,200 gallons of water used (cost of $434), and labor costs for 260 hours (cost of $2,756). Complete this question by entering your answers in the tabs below. Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. Standard Unit Cost Direct Labor Rate Variance Direct Labor Efficiency Variance $0.56 0.48 8.10 Calculate Suds & Cuts, direct labor variances for the month of July. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your answers to nearest dollar amount. U F

Shampoo Water Direct labor Standard Quantity ounces gallons. hour 1.4 12 0.9 Standard Rate. $0.40 per ounces $0.04 $9.00 per gallons per hour Required 1 Required 2 During the month of July, Collin's employees gave 320 baths. The actual results were 710 ounces of shampoo used (cost of $340.80), 6,200 gallons of water used (cost of $434), and labor costs for 260 hours (cost of $2,756). Complete this question by entering your answers in the tabs below. Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. Standard Unit Cost Direct Labor Rate Variance Direct Labor Efficiency Variance $0.56 0.48 8.10 Calculate Suds & Cuts, direct labor variances for the month of July. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your answers to nearest dollar amount. U F

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead

Section: Chapter Questions

Problem 11E: Making journal entries Assume that during the month of April the production report of Algonquin...

See similar textbooks

Similar questions

E9-5 (Algo) Calculating Direct Materials and Direct Labor Variances [LO 9-3, 9-4] Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Standard Quantity 2.3 oz. 21 gal. Direct labor 1.35 hr. Standard Rate $ 0.60 per oz. $ 0.05 per gal. $11.00 per hr. Standard Unit Cost $ 1.38 1.05 14.85 During the month of July, Collin's employees gave 410 baths. The actual results were 755 ounces of shampoo used (cost of $520.95), 7,100 gallons of water used (cost of $639), and labor costs for 350 hours (cost of $4,375). Required: 1. Calculate Suds & Cuts direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts direct labor variances for the month of July. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Suds & Cuts direct materials variances for both shampoo and…
E9-5 (Algo) Calculating Direct Materials and Direct Labor Variances [LO 9-3, 9-4] Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Standard Unit Cost Standard Quantity 2.4 oz. 22 gal. $ 0.06 per gal. 1.4 hr. Standard Rate Shampoo Water $ 0.70 per oz. $ 1.68 1.32 Direct labor $11.00 per hr. 15.40 During the month of July, Collin's employees gave 420 baths. The actual results were 760 ounces of shampoo used (cost of $600.40). 7,200 gallons of water used (cost of $648), and labor costs for 360 hours (cost of $4,536). Required: 1. Calculate Suds & Cuts direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts direct labor variances for the month of July. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Suds & Cuts direct materials varlances for both shampoo and water for the month of July. (Round your…
E9-5 (Algo) Calculating Direct Materials and Direct Labor Variances [LO 9-3, 9-4] Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Direct labor Standard Quantity 1.9 17 1.15 ounces gallons hour Standard Unit Standard Rate $0.20 per ounces $0.04 per gallons $10.00 per hour Cost $0.38 0.68 11.50 During the month of July, Collin's employees gave 370 baths. The actual results were 735 ounces of shampoo used (cost of $205.80), 6,700 gallons of water used (cost of $536), and labor costs for 310 hours (cost of $3,658). Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July.…
E9-5 (Algo) Calculating Direct Materials and Direct Labor Variances [LO 9-3, 9-4] Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Direct labor Standard Quantity 2.4 22 ounces 1.4 gallons hour Standard Rate $0.70 per ounces Standard Unit Cost $0.06 per gallons $11.00 per hour $1.68 1.32 15.40 During the month of July, Collin's employees gave 420 baths. The actual results were 760 ounces of shampoo used (cost of $600.40), 7,200 gallons of water used (cost of $648), and labor costs for 360 hours (cost of $4,536). Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. Complete this question by entering your answers in the tabs below. Required Required 2 Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. Note:…
Making journal entries Assume that during the month of April the production report of Algonquin Adhesives Inc. in E8-10 revealed the following information: Make journal entries to charge materials (use the materials purchase price variance) and labor to Work in Process. (Remember to retrieve the standard costs from E8-10 before solving this exercise.)
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials anddirect labor standards for one unit of Zoom are given below:Standard Quantity Standard Price Standardor Hours or Rate CostDirect materials ........... 4.6 pounds $2.50 per pound $11.50Direct labor ................. 0.2 hours $12.00 per hour $2.40During the most recent month, the following activity was recorded:a. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound.b. All of the material purchased was used to produce 4,000 units of Zoom.c. 750 hours of direct labor time were recorded at a total labor cost of $10,425.Required:1. Compute the direct materials price and quantity variances for the month.2. Compute the direct labor rate and efficiency variances for the month.
Larry's Woodworks has collected the following data for its cutting board line of products: K Direct materials standard Direct materials standard cost Actual Direct Materials Used (AQU) Actual finished goods purchased What is the direct materials quantity variance? 10 pounds per unit $0.54 per pound 40,000 pounds 4,100 units OA. $17,860 unfavorable OB. $17,860 favorable OC. $540 unfavorable OD. $540 favorable
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] Hart Company made 3,100 shelves using 22,100 pounds of wood costing $278.460. The company's direct materials standards for one shelf are 8 pounds of wood at $12.50 per pound. Exercise 21-14A (Algo) Recording and closing materials variances LO P6 Hart Company uses a standard costing system. Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the direct materials variances. View transaction list Journal entry worksheet < A Record direct materials price and quantity variances, Note: Enter debits before credits.
Manoli Company has collected the following data for use in calculating product costs:Activity Data (expected and actual):Rug CleanersSweepersTotalUnits produced50,000250,000300,000Prime costs$200,000$750,000$950,000Direct labor hours10,00040,00050,000Machine hours20,00010,00030,000Number of setups2575100Inspection hours1,2002,8004,000Number of moves140210350Departmental Data (expected and actual):MoldingAssemblyTotalDirect labor hours:Rug cleaners5,0005,00010,000Sweepers5,00035,00040,000Totals10,00040,00050,000Machine hours:Rug cleaners17,0003,00020,000Sweepers3,0007,00010,000Totals20,00010,00030,000Overhead costs:Machining$120,000$ 30,000$150,000Moving materials40,00030,00070,000Setting up70,00010,00080,000Inspecting products20,00030,00050,000Totals$250,000$100,000$350,000What is the activity rate for moving materials?a. 0.2b. $800c. $1,000d. $200
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Exercise 21-9 (Algo) Direct materials variances LO P3 Standard Quantity and Cost 6 pounds @ $9 per pound 3 DLH @ $17 per DLH 3 DLH @ $11 per DLH AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Actual Results 45,500 pounds @ $9.20 per pound 22,300 hours @ $17.50 per hour $ 254,300 Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) 7,500 units Standard Cost
akeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocalo-piugie eBook I Print Item Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 70,000 units of product were as follows: Standard Costs Actual Costs 182,000 lbs. at $5.90 180,200 Ibs. at $5.80 Direct materials Direct labor 17,500 hrs. at $16.70 17,900 hrs. at $17.10 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 18,260 direct labor hrs.: Variable cost, $3.80 $65,840 variable cost Fixed cost, $6.00 $109,560 fixed cost Each unit requires 0.25 hour of direct labor. Required: a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable…
eBook Show Me How Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., organic toys: Quantity of direct materials used 6,000 lbs. Actual unit price of direct materials $6 per Ib. Units of finished product manufactured 2,880 units Standard direct materials per unit of finished product 2 lbs. Direct materials quantity variance-unfavorable $1,488 Direct materlals price variance-favorable $1,200 Determine the standard direct materials cost per unit of finished product, assuming that there was no inventory of work in process at eitH beginning or the end of the month. If required, round your standard cost per unit answer to two decimal places. Product finished V units Standard finished product for direct materials used |X units Deficiency of finished product for materials used Xunits Standard cost for direct materials I x Xper unit Feedback icheck My…