Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. 3. 4. please answer questions completely using multiple choice. Doogan Corporation makes a product with the following standard costs: Standard Quantity or Hours 2.0

image text in transcribed

image text in transcribed

2.

image text in transcribed

image text in transcribed

image text in transcribed

3.

image text in transcribed

image text in transcribed

image text in transcribed

4.

image text in transcribed

image text in transcribed

please answer questions completely using multiple choice.

Doogan Corporation makes a product with the following standard costs: Standard Quantity or Hours 2.0 grams 0.9 hours 0.9 hours Direct materials Direct labor Variable overhead Standard Price or Rate $ 7.00 per gram $15.00 per hour $ 5.00 per hour The company produced 4,600 units in January using 10,270 grams of direct material and 2,250 direct labor-hours. During the month, the company purchased 10,840 grams of the direct material at $7.25 per gram. The actual direct labor rate was $15.50 per hour and the actu variable overhead rate was $4.90 per hour. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when th- materials are purchased. The materials quantity variance for January is Multiple Choice $7490 F 0 $7,758 U O $7758 F O $7490 U Majer Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity on Hours 3.0 ounces 0.7 hours 0.7 hours Standard Price or Rate 6.50 per ounce $ 12.50 per hour $ 5.00 per hour The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate 6,800 units 6,600 units 19,720 ounces 4,820 hours 21,320 ounces 6.25 per ounce $ 12.75 per hour HALA - Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate 6,800 units 6,600 units 19,720 ounces 4,820 hours 21,320 ounces $ 6.25 per ounce $ 12.75 per hour $ 5.00 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for February is: Multiple Choice Multiple Choice $5,450 U $5,450 F $5,330 F O $5,330 U Majer Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 6.5 ounces 0.7 hours 0.7 hours Standard Price or Rate $ 3.00 per ounce $ 12.00 per hour $ 4.00 per hour Standard Cost Per Unit $19.50 $ 8.40 $ 2.80 The company reported the following results concerning this product in February Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials 5,100 units 5,200 units 30, 200 ounces 1,920 hours 32,600 ounces $ 32.90 per ounce The company reported the following results concerning this product in February Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate 5,100 units 5,200 units 30, 200 ounces 1,920 hours 32,600 ounces $ 32.90 per ounce $ 42.40 per hour $ 3.30 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for February is: Multiple Choice $1,344 F $1,349 F $1.344 U $1,349 U The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate 8.8 hours $15.90 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 10,900 hours $170,585 1,600 units What is the labor rate variance for the month? Multiple Choice $400 F $2,725 F $2.725 U $400 U

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Implementing And Auditing The Internal Control System

Authors: D. Chorafas

2001edition

0333929365, 978-0333929360

More Books

Students also viewed these Accounting questions

Question

25.0 m C B A 52.0 m 65.0 m

Answered: 1 week ago

Question

10-9 How have social technologies changed e-commerce?

Answered: 1 week ago