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4 diffrent questions. A. 8. Toys, fnc., produces toys for national distribution. The managernent has rocontly established a atandard cost system to control costs. The
4 diffrent questions.
A. 8. Toys, fnc., produces toys for national distribution. The managernent has rocontly established a atandard cost system to control costs. The standards on a particular toy are; Materials: 12 pieces per toy at 50,56 per piece Labor. 2 hours per toy at $3.75 per hour During the month of February, the company produced 1,000 toys. Production data for the month are as follows: - Materials: 20,500 pieces were purchased for use in production, at a total cost of $5,000, of which 3,500 pieces were still in inventory at the end of the month. - Labor: 2,500 hours were worked, at a cost of $10,500 What is the amount of the favorable materials purchase price variance (rounded to the nearest dollar)? Lyons Company makes decorative copper weather vanes for mounting on the roofs of buildings. We know the following for March, 2021: Number of weather vanes produced and sold: 9,000 What is the amount of the materials officiency. variance? Use a negative number to indicate an Unfavorable variance. Lafayette company had the following amounts in it Master Budget for 2021 : Assume that Lafayette company's actual sales volume for 2021 was 22,000 units. What is the flexible budget amount for Variable Costs (rounded to the nearest dollar)? Assume that Longmont Corporation makes sales on cash and credit. It has the following budgeted amounts: Longmont estimates that credit sales are collected 60% in quarter of sale, 35% in quarter after sale, with the remaining amount never collected. What are projected cash receipts for the 2nd quarter of 2020 Step by Step Solution
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