Question
1. Penny Company manufactures only one product and uses a standard cost system. The following information is from Pennys records for May: Direct labor rate
1. Penny Company manufactures only one product and uses a standard cost system. The following information is from Pennys records for May:
Direct labor rate variance | $17,000 | favorable |
Direct labor time variance | $31,200 | unfavorable |
Standard hours per unit produced | 2.50 | |
Standard rate per hour | $26 |
During May, the company used 12.50% more hours than the standard allowed.
A. What were the total standard hours allowed for the units manufactured during the month?
___ standard hours
B. What were the actual hours worked?
___ actual hours
C. How many actual units were produced during May?
___ units produced
2. Using the following budgeted information for production of 10,000 and 15,000 units, prepare a flexible budget for 18,000 units.
Production | 10,000 units | 15,000 units |
Expense A | $18,000 | $27,000 |
Expense B | 21,000 | 21,000 |
Expense C | 43,000 | 43,000 |
Total expenses $___
3. Fiona cleans offices. She is allowed 5 seconds per square foot. She cleans building A, which is 2,904 square feet, and building B, which is 2,496 square feet. Will she finish these two buildings in an 8-hour shift? Will she have time for a break? Round intermediate calculations to two decimals and final answer to whole number.
(Yes, or No), she (will, or will not) finish in an 8-hour shift, and she (can, or can not) have a break of __ 4 minutes.
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