Ch. 23 Lab Activity b. Standards may becomes in a dynamic manufacturing environment c. Employees muy focus only on efficiency improvement and their own operations rather than considering the larger objectives of the organization. d. Since standards are impossible to attain, they are a distraction from the work at hand. Siecu standards never change they do not reflect reality a, bande 3. Sarah wants to be sure she understands the basic definitions involved Are the following questions by selecting the correct words A favorable variance occurs when the actual cost what the product does cost) is less than the standard cost what the product should cost). Afcorable variance is represented by negative number, indicating that costs are lower than expected An unfavorable variance occurs when the actual cost what the product does cost) is greater than the standard cost (what the product should cost). An unfavorable variance is represented by 2 positive number indicating that costs are higher than expected Direct Materials Under normal condition. Sarabande 5.40 ser unit of materials and it will take 360 units of material per al of shoes. During July, Sol Purpose Shoe Company incurred actual direct materials cost of 101.321 for 190 units of direct materials in the production of 2,175 pairs of shoes Complete the following table showing the direct materiais variance relationshies for July for Sole Purpose Shoe Company. It required, round your answers to two decimal places when entering Varance. One more and active number for show Ch. 23 Lab Activity Complete the following table, showing the direct materials variance relationship for July for Sole Purpose Shoe Company. It required, round your answers to two decimal places. When entering variance, a negative number for a twortecost variance, and a positive number for an unfavorable cost variance Actual Cost Actual Actual Actual Standard x Quantity Price Quantity Price 6.00 1.9 6,890 114 61,121 57.576 Unfavorable Direct Materials Favorable Direct Materi Price Variance Quantity Variance 3,445 Favorable Total Dwect Mater Cost Variance 3,445 X Direct Labor Lorem condom, Savsher employees 50 per hour and it will take 280 hours of labor per part shoes. During huge sole purpose Shoe company incurred actual direct labor costs of 5.4 for 10 hours of labor in the production of 2,300 pair of shoe me meni here the various me hned when we trinn Ch.23 Lab ACUVY erials variance relationships for Suy for Sale Purpose Shoe Company. If required, round your answers to two decimal places. When entering variance, and a positive number for an averable cost variance Standard Cost Standard Quantity X Standard Price Standard Price X Actual Quantity 6.090 4 7,920 x 114 X 66,520 X 57,076 Unfavorable Direct Materials Price Variance Favorable rect Material Quantity Variance 2,445 Favorable Total Direct Material Cost Variance 3,445 x 18.50 per hour and it will take 2.00 hours of labor per Dair of shoes. During August Sole Purpose Shoe company incurred actual direct labor production of 2100 pair of shoes nestand for the many ASWANA Winter Check My Work Direct Labor Under normal conditions, Sarah her employees $8.50 per hour, and it will take 2.0 hours of labor per alt of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of 369,740 7.20 hours of direct labor in the production of 2,300 pair of shoes Complete the following the showing the direct laber variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places when entering variances, use tive number for a favorite variance and positive number for an unfavorable wariance Actual Cost Actual Actual Actual Standard x Standard Hate Hours Rate Hours X Unfavorable Direct Labor Fate Variant Unfavorable Direct Labor Time Variance Unfavorable Total Diet Labo Costariangel farah hatened a lot to you over the past two months las complied the following data for Gole Purpose Shoe Company for feptember using the techniques you the She would like Your help in prodontoformance Report for september. The company produced 2.500 pair of shoes that required 6.750 units of material purchased 120 per unit and 6.750 hours of laborat an hourly rate of 50.00 per hour during the month. Actual factory overhead Garing pambe was $20.250. When entering variances, ne a negative number for a favorite cost variance and a positive number for an unfavorable cost variance Use the data in the following title to prepare the budget performance Report for Sol Purpose Shoe Company for tomber Standard Standard Standard Cost Hanufacturing Costs Price Quantity Per Unit Direct mustrial 38.40 per unit 3.60 units per pair 33024 Dve labor 8.50 per hour 2.00 hours per pair 2.2.10 Factory Overhead $2.70 per hour 2.0 hours per pair 7.56 Total standard cont per $61.00 Sole Purpose Shoe Company Budget Performance Report For the Month Ended September 30 Standard Cost at Actual Volume Cost Variance (Favorable) Unfavorable Actual Costs Manufacturing Costs Direct materials Dia labor de My Work Tybe bele to search 9 2:11 PM 3/29/2002 Mastery Problem: Evaluating Variances from Standard Costs Sole Purpose Shoe Company Sole Purpose Thor Company is owned and operated by the Charles The company manufactures can shoes with manufacturing facies in your are the lines this yew, and while she has a great deal of experience in manufacturing popular and comfortable whes, she needs some hulp in evaluating her results for the yeandals for the Starting ostis Santutin for you have to do with the general ideas and terminology used to evaluate an Provide awwers to the following questions (1) (a). 1. Whiy might Sarah want to standard cuts to come with her twists! Standard code management a cout structure for products that is applicable for the entire life of the business 1. Standard costs management to motivate employees by comparing their performance to what it would be under perfect condition canapement can waluate the differences between standard costs and actual costs to focus on correcting the cookies 2. What are possibile drawbacks to uting standard.costs that Sarah might cor Standards imituperating neroviments because employees w be discouraged from improving beyond the standard Standards may become "stale in a dynamic manufacturing environment Eloyees may focus only one improvement and their own operations rather than considering the targetectives of the Complete the following table showing the direct materials variance relationshins for July for Sale Purpose Shoe Company. If required, round your as to two decimal places when entering variances, use a negative number for a favorable cost variance, and a positive number for an unfaite cout variant Actual Cost Actual x Actual Actual x Standard Quantity Price Quantity Price 11.07 6,090 61,321 57,076 Unfavorable Direct Materials Favorable Direct Material Price Variance Quantity Variancat 3,445 Favorable Total Direct Materials Cost Vrance 3,445 X Review Exhibit in the text. Printem Purpose Shoe Company. If required, round your answers to two decimal places. When entering vorable cost variance, Standard Cost ctual Jantity Standard Price Standard Quantity Standard Price ,890 8.4 7,920 X 57,876 66,528 X Favorable Direct Materials Quantity Variance: Favorable Total Direct Materials Cost Variance: 3,445 x Direct Labor Under normal conditions, Sarah pays her employees $8.50 per hout, and it will take 2.0 hours of labor per pair of shoes. During August Sol Purpose Shoe Company incurred sud direct tabor costs of $65,340 for 7,260 hours of direct labor in the production of 2,300 pair of shoes Complete the following table, showing the direct labor variance relationships for August for Site Purpose Shon Company of oured, round your answers to tredecimal place. When entering variantes, use a negative number for a favorable variance, and a positive number for an unfavorable variance Actual Cost Actual Actual X Actual Standard Standard Hours Rate Hours Hate tours X Unfavorable Direct Labor Rate variances Unfavorable Direct Labor Time Variance Unfavorable Total Direct Labor Cost van Check My Work 13 PM Type here to search o will take 2.80 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor pairs of shoes. is for August for sole purpose Shoe Company. If required, round your answers to two decimal places. When entering number for an unfavorable variance Standard Cost Actual Hours Standard Rate Standard Hours Standard Rate Labor Unfavorable Direct Labor Time Variance: Unfavorable Total Direct Labor Cost Variance: Budget Performance Report For the Month Ended September 30 Cost Variance - (Favorable) Unfavorable Manufacturing Costs Standard Cost at Actual Volume Actual Costs Direct materials Direct labor Factory overhead Total manufacturing costs Ferran Ch. 23 Lab Activity b. Standards may becomes in a dynamic manufacturing environment c. Employees muy focus only on efficiency improvement and their own operations rather than considering the larger objectives of the organization. d. Since standards are impossible to attain, they are a distraction from the work at hand. Siecu standards never change they do not reflect reality a, bande 3. Sarah wants to be sure she understands the basic definitions involved Are the following questions by selecting the correct words A favorable variance occurs when the actual cost what the product does cost) is less than the standard cost what the product should cost). Afcorable variance is represented by negative number, indicating that costs are lower than expected An unfavorable variance occurs when the actual cost what the product does cost) is greater than the standard cost (what the product should cost). An unfavorable variance is represented by 2 positive number indicating that costs are higher than expected Direct Materials Under normal condition. Sarabande 5.40 ser unit of materials and it will take 360 units of material per al of shoes. During July, Sol Purpose Shoe Company incurred actual direct materials cost of 101.321 for 190 units of direct materials in the production of 2,175 pairs of shoes Complete the following table showing the direct materiais variance relationshies for July for Sole Purpose Shoe Company. It required, round your answers to two decimal places when entering Varance. One more and active number for show Ch. 23 Lab Activity Complete the following table, showing the direct materials variance relationship for July for Sole Purpose Shoe Company. It required, round your answers to two decimal places. When entering variance, a negative number for a twortecost variance, and a positive number for an unfavorable cost variance Actual Cost Actual Actual Actual Standard x Quantity Price Quantity Price 6.00 1.9 6,890 114 61,121 57.576 Unfavorable Direct Materials Favorable Direct Materi Price Variance Quantity Variance 3,445 Favorable Total Dwect Mater Cost Variance 3,445 X Direct Labor Lorem condom, Savsher employees 50 per hour and it will take 280 hours of labor per part shoes. During huge sole purpose Shoe company incurred actual direct labor costs of 5.4 for 10 hours of labor in the production of 2,300 pair of shoe me meni here the various me hned when we trinn Ch.23 Lab ACUVY erials variance relationships for Suy for Sale Purpose Shoe Company. If required, round your answers to two decimal places. When entering variance, and a positive number for an averable cost variance Standard Cost Standard Quantity X Standard Price Standard Price X Actual Quantity 6.090 4 7,920 x 114 X 66,520 X 57,076 Unfavorable Direct Materials Price Variance Favorable rect Material Quantity Variance 2,445 Favorable Total Direct Material Cost Variance 3,445 x 18.50 per hour and it will take 2.00 hours of labor per Dair of shoes. During August Sole Purpose Shoe company incurred actual direct labor production of 2100 pair of shoes nestand for the many ASWANA Winter Check My Work Direct Labor Under normal conditions, Sarah her employees $8.50 per hour, and it will take 2.0 hours of labor per alt of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of 369,740 7.20 hours of direct labor in the production of 2,300 pair of shoes Complete the following the showing the direct laber variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places when entering variances, use tive number for a favorite variance and positive number for an unfavorable wariance Actual Cost Actual Actual Actual Standard x Standard Hate Hours Rate Hours X Unfavorable Direct Labor Fate Variant Unfavorable Direct Labor Time Variance Unfavorable Total Diet Labo Costariangel farah hatened a lot to you over the past two months las complied the following data for Gole Purpose Shoe Company for feptember using the techniques you the She would like Your help in prodontoformance Report for september. The company produced 2.500 pair of shoes that required 6.750 units of material purchased 120 per unit and 6.750 hours of laborat an hourly rate of 50.00 per hour during the month. Actual factory overhead Garing pambe was $20.250. When entering variances, ne a negative number for a favorite cost variance and a positive number for an unfavorable cost variance Use the data in the following title to prepare the budget performance Report for Sol Purpose Shoe Company for tomber Standard Standard Standard Cost Hanufacturing Costs Price Quantity Per Unit Direct mustrial 38.40 per unit 3.60 units per pair 33024 Dve labor 8.50 per hour 2.00 hours per pair 2.2.10 Factory Overhead $2.70 per hour 2.0 hours per pair 7.56 Total standard cont per $61.00 Sole Purpose Shoe Company Budget Performance Report For the Month Ended September 30 Standard Cost at Actual Volume Cost Variance (Favorable) Unfavorable Actual Costs Manufacturing Costs Direct materials Dia labor de My Work Tybe bele to search 9 2:11 PM 3/29/2002 Mastery Problem: Evaluating Variances from Standard Costs Sole Purpose Shoe Company Sole Purpose Thor Company is owned and operated by the Charles The company manufactures can shoes with manufacturing facies in your are the lines this yew, and while she has a great deal of experience in manufacturing popular and comfortable whes, she needs some hulp in evaluating her results for the yeandals for the Starting ostis Santutin for you have to do with the general ideas and terminology used to evaluate an Provide awwers to the following questions (1) (a). 1. Whiy might Sarah want to standard cuts to come with her twists! Standard code management a cout structure for products that is applicable for the entire life of the business 1. Standard costs management to motivate employees by comparing their performance to what it would be under perfect condition canapement can waluate the differences between standard costs and actual costs to focus on correcting the cookies 2. What are possibile drawbacks to uting standard.costs that Sarah might cor Standards imituperating neroviments because employees w be discouraged from improving beyond the standard Standards may become "stale in a dynamic manufacturing environment Eloyees may focus only one improvement and their own operations rather than considering the targetectives of the Complete the following table showing the direct materials variance relationshins for July for Sale Purpose Shoe Company. If required, round your as to two decimal places when entering variances, use a negative number for a favorable cost variance, and a positive number for an unfaite cout variant Actual Cost Actual x Actual Actual x Standard Quantity Price Quantity Price 11.07 6,090 61,321 57,076 Unfavorable Direct Materials Favorable Direct Material Price Variance Quantity Variancat 3,445 Favorable Total Direct Materials Cost Vrance 3,445 X Review Exhibit in the text. Printem Purpose Shoe Company. If required, round your answers to two decimal places. When entering vorable cost variance, Standard Cost ctual Jantity Standard Price Standard Quantity Standard Price ,890 8.4 7,920 X 57,876 66,528 X Favorable Direct Materials Quantity Variance: Favorable Total Direct Materials Cost Variance: 3,445 x Direct Labor Under normal conditions, Sarah pays her employees $8.50 per hout, and it will take 2.0 hours of labor per pair of shoes. During August Sol Purpose Shoe Company incurred sud direct tabor costs of $65,340 for 7,260 hours of direct labor in the production of 2,300 pair of shoes Complete the following table, showing the direct labor variance relationships for August for Site Purpose Shon Company of oured, round your answers to tredecimal place. When entering variantes, use a negative number for a favorable variance, and a positive number for an unfavorable variance Actual Cost Actual Actual X Actual Standard Standard Hours Rate Hours Hate tours X Unfavorable Direct Labor Rate variances Unfavorable Direct Labor Time Variance Unfavorable Total Direct Labor Cost van Check My Work 13 PM Type here to search o will take 2.80 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor pairs of shoes. is for August for sole purpose Shoe Company. If required, round your answers to two decimal places. When entering number for an unfavorable variance Standard Cost Actual Hours Standard Rate Standard Hours Standard Rate Labor Unfavorable Direct Labor Time Variance: Unfavorable Total Direct Labor Cost Variance: Budget Performance Report For the Month Ended September 30 Cost Variance - (Favorable) Unfavorable Manufacturing Costs Standard Cost at Actual Volume Actual Costs Direct materials Direct labor Factory overhead Total manufacturing costs Ferran