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

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 Multiple Choice O $34,150 During November, TaskMaster purchased 169,500 pounds of direct materials at a total cost of $610,200. The total factory wages for November were $61,000, 90% of which were for direct labor. TaskMaster manufactured 20,000 units of product during November using 150,000 pounds of direct materials and 5,190 direct labor-hours. What is the direct materials efficiency variance for November? $35,900 $37,000 Standard Quantity 8 pounds 0.25 hour $34,300 Standard Price $ 3.70 per pound $11.80 per hour Standard Cost $ 29.60 2.95 $ 32.55

The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $1.80 and $1.95, respectively. The equivalent units to be assigned costs are as follows:   Equivalent Units   Direct Materials Conversion Inventory in process, beginning of period 0   4,100   Started and completed during the period 51,000   51,000   Transferred out of Filling (completed) 51,000   55,100   Inventory in process, end of period 3,000   900   Total units to be assigned costs 54,000   56,000   The beginning work in process inventory had a cost of $2,870. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar. Completed and transferred-out production   Inventory in process, ending

The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for a particular day.           Beginning WIP inventory       Direct materials $ 980   Conversion costs   557   Current period costs       Direct materials   27,220   Conversion costs   16,803       Quantity information is obtained from the manufacturing records and includes the following.           Beginning inventory 800 units (65% complete as to materials,56% complete as to conversion) Current period units started 5,900 units   Ending inventory 1,500 units (45% complete as to materials,15% 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 conversion costs.