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. Direct Materials. Direct Labor What is the direct materials efficiency variance for November? Multiple Choice During November, TaskMaster purchased 164,000 pounds of direct materials at a total cost of $442,800. The total factory wages for November were $50.000, 90% of which were for direct labor. TaskMaster manufactured 19,400 units of product during November using 145,500 pounds of direct materials and 5,080 direct labor-hours. ज O O $22.520 $25,220 Standard Quantity 8 pounds 0.25 hour $22,370 $24.120 Standard Price $2.60 per pound $9.60 per hour Standard Cost $ 20.80 2.40 $ 23.20

Sitka Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for one ladder (unit):  Sitka Industries cost standards   Standard Quantity Standard Price Direct materials 4 pounds $5.41 per pound Direct labor 3.11 hours $11.96 per hour Sitka Industries made 2,695 ladders in July and used 8,913 pounds of material to make these units. Smith Industries bought 15,751 pounds of material in the current period. There was a $279 unfavorable direct materials price variance.  What is the direct materials quantity variance? Round to the nearest whole dollar, no decimals. If it is an unfavorable variance, enter a positive number. If is a favorable variance, enter a negative number using a - dash not parentheses.

STI Industries manufactures two types of industrial staplers, small and regular. During October,STI purchased direct materials to produce its staplers. The quantity purchased equaled thequantity used. Related information for direct materials is as follows:                                                                               Small                 RegularDirect materials                                                     Stapler              StaplerStandard ounces per unit                                        12                         cStandard price per ounce                                        $2.00                $2.50Actual quantity purchased (used) per unit                 a                    16.75Actual price per ounce                                             $2.50               $2.80Materials price variance                                         $1,000 U            $2,010 U Materials usage variance                                          $800 F…

Sherman Manufacturing Company currently manufactures a component used in one of its products. The annual production costs for 11,300 components are as follows: Material cost Labor cost Overhead Batch-level set-up costs for year Product-level manager's salary Allocated facility-level costs $ 7 per unit $ 3 per unit $ 1 per unit $ 5,700 $ 17,700 $ 11,700 An outside company has offered to supply 11,300 units of the component for $14.40 each. If the company outsources the component, it will be able to rent out the idle factory space for $2,000 per month but will not terminate the product manager. Required: a. Which items are not relevant to this outsourcing decision? b. Identify any opportunity costs associated with this decision. c. Prepare a quantitative analysis that indicates whether the component should be outsourced. Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare a quantitative analysis that indicates whether the component…

Proctor has a policy of holding no inventories of any kind. Required: a. Compute materials price and efficiency variances. b. Compute materials mix and yield variances. Complete this question by entering your answers in the tabs below. Required A Required B Saved Compute materials price and efficiency variances. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Materials price variance Materials efficiency variance X-1 Y-7 Required A Required B > Total

Happy Trails has the following information for its manufacturing: Direct Materials $16 Direct Labor $16 Variable Manufacturing Overhead $3 Fixed Manufacturing Overhead $25 Units Produced 27,000 Units Sold 18,000 Its income statement under absorption costing is: Sales $1,901,000 Beginning Inventory $0 Cost of Goods Manufactured 1,620,000 Cost of Goods Available for Sale $1,620,000 - Ending Inventory 540,000 Cost of Goods Sold $1,080,000 Gross Profit $821,000 -Sales and Admin. Expenses:   Variable $108,000 Fixed 200,000 Total Sales and Admin. Expenses $308,000 Net Operating Income $513,000 Prepare an income statement with variable costing and a reconciliation statement between both methods. If an amount box does not require an entry, leave it blank.

(Appendix 10B) The Dexon Company makes and sells a single product, called a Mip, and employs a standard costing system. The following standards have been established for one unit of Mip:   Standard Quantity or Hours Standard Cost per Mip Direct Materials 6 board metre $9.00 Direct Labour 0.8 hours $9.60 There were no inventories of any kind on August 1. During August, the following events occurred:Purchased 15,000 board metres at the total cost of $24,000.Used 12,000 board metres to produce 2,100 Mips.Used 1,700 hours of direct labour time at a total cost of $20,060.(Appendix 10B) To record the incurrence of direct labour cost and its use in production, the general ledger would include what entry to the Labour Rate Variance account?   Question 10 options:   $240 credit.   $240 debit.   $340 debit.   $340 credit.