The standards for one carton of Wonder Wax are: Direct materials  4 lbs. @ $2.55 Direct labors      6 hrs. @ $5.25 Variable overhead (based on direct labor hours) 6 hrs. @ $3.40   During the week ended December 4, the following activity took place: • 4,600 lbs. of raw material were purchased for inventory at a cost of $2.63 per pound; • 1,050 cartons of finished product were produced; • 4,225 lbs. of raw material were used; • 6,140 labor hours were worked at a total cost of $33,463; • $20,569 actual variable overhead costs were incurred. Calculate each of the following variances: (a.) Price variance for raw materials purchased. (b.) Raw materials usage variance. (c.) Direct labor rate variance.

The standards for one case of Springfever Tonic are as follows: Direct materials Direct labor Variable overhead (based on direct labor hours) 5.70 pound @ $4.70 per pound = $26.79 4.70 hour @ $11.70 per hour = $54.99 4.70 hour @ $5.70 per hour = $26.79 During the week ended March 13, the following activity took place: 19,500 pound of raw materials were purchased for inventory at a cost of $4.65 per pound. 2,900 cases of finished product were produced. 18,000 pound of raw materials were used. 13,500 direct labor hours were worked at a total cost of $178,200. $75,600 of actual variable overhead costs were incurred. ed: Calculate each of the following variances. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). a. Price variance for raw materials purchased. b. Raw materials usage variance. c. Direct labor rate variance. d. Direct labor efficiency variance.…

The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials are added at the beginning of the process. Work in process, January 1, 1,400 units, 75% completed.                     22,960*Direct materials (1,400 x $12.65)                                          $17,710 Conversion (1,400 x 75% x $5.00)                                            5,250                                                                                                 ___________                                                                                                  $22,960 Materials added in January from Weaving Department                     $742,40058,000 units. Direct labor for January                                                                         $134,550 Factory Overhead for January                                                              $151,611 Goods finished during Janaury…

Vishnu

The following information is available for Department Z for the month of July: Work in process, July 1 (70% complete) Direct materials Direct labor Units 2,000 Cost $ 6,000 3,000 Manufacturing overhead 4,000 Total work in process, July 1 $13,000 Started in July 20,000 Costs added: Direct materials Direct labor Manufacturing overhead Total costs added during July Work in process, July 31 (7.5% complete) $18,000 8,000 10,000 $36,000 2,000 Materials are added at the beginning of the process. Department Z's cost of goods transferred out using the FIFO method would be: O a. $44,500. O b. $40,250. Oc. $45,540. Od. $47,056

Show Me How Print tem Equivalent Units of Materials Cost The Rolling Department of Kraus Steel Company had 13,100 tons in beginning work in process inventory (10% complete) on October 1. During October, 82,100 tons were completed. The ending work in process inventory on October 31 was 4,100 tons (10% complete). Fooback What are the total equivalent units for direct materials for October if materials are added at the beginning of the process? 70,710 X units Check My Work Are you determining the equivalent units of materials added or of conversion of materials? When would materials typically be added in the process? When would conversion of these materials take place? Recall the definition of work in process.

Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Actual 49, 200 lbs. @ $7.10 per lb. 16,000 hrs. @ $16.50 per hr. $183,400 Direct materials 6 lbs. @ $7 per lb. Direct labor 2 hrs. @ $16 per hr. Overhead Units manufactured 2 hrs. @ $11 per hr. 8,100 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Total cost variance

Required information [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 Standard Quantity and Cost 7 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Actual Results 62,900 pounds @ $8.20 per pound 26,500 hours @ $16.50 per hour 8,900 units $ 325,700 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH Actual Hours SH Standard Hours Standard Rate AR Actual Rate SR Actual Cost G < Prev 8 of 8 Next Standard Cost

a.  Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unit computations, round your answers to two decimal places.   The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials are added at the beginning of the process. Work in process, January 1, 8,200 units, 65% completed   $103,894*     *Direct materials (8,200 × $10.2) $83,640       Conversion (8,200 × 65% × $3.8) 20,254     $103,894   Materials added during January from Weaving Department, 126,400 units   $1,301,920 Direct labor for January   219,708 Factory overhead for January   268,533 Goods finished during January (includes goods in process, January 1), 127,800 units   — Work in process, January 31, 6,800 units, 40% completed   — Cost of Production Report-Cutting Department For the Month Ended January 31 Unit Information Units charged to production: Number of…

Max Company has developed the following standards for one of its products: Direct materials 15 pounds ´ £16 per poundDirect labour 4 hours ´ £24 per hourVariable overhead 4 hours ´ £14 per hour The following activities occurred during the month of October: Materials purchased  10,000 pounds costing £170,000Materials used   7,200 poundsUnits produced     500 unitsDirect labour   2,300 hours at £23.60 per hourActual variable overhead £30,000 The company records materials price variances at the time of purchase. Refer to Figure 17-1. Max's variable standard cost per unit would be