Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you please answer part 1, 2 and 3 for the problem 10-23 Mickley Corporation produces two products, Alpha6 and Zeta7, which pass through two

image text in transcribedCan you please answer part 1, 2 and 3 for the problem 10-23

Mickley Corporation produces two products, Alpha6 and Zeta7, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials. X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Information relating to materials purchased and materials used in production during May follows: The following additional information is available: 1. The company recognizes price variances when materials are purchased. 2. The standard labour rate is $19.80 per hour in Sintering and $19.20 per hour in Finishing. 3. During May, 1,200 direct labour-hours were worked in Sintering at a total labour cost of $27,000, and 2,850 direct labour-hours were worked in Finishing at a total labour cost of $59.850. 4. Production during May was 1,500 Alpha6 and 2,000 Zeta7. Required: 1. Prepare a standard cost card for each product, showing the standard cost of direct materials and direct labour. 2. Compute the materials price and quantity variances for each material. 3. Compute the labour rate and efficiency variances for each operation

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

Managerial Accounting

Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer

13th Edition

978-0073379616, 73379611, 978-0697789938

More Books

Students also viewed these Accounting questions