Check my work 1 Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3.400 helmets, using 2,244 kilograms of plastic. The plastic cost the company $14,810. 1 According to the standard cost card, each helmet should require 0.60 kilograms of plastic, at a cost of $7.00 per kilogram. polnts Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,400 helmets? 2. What is the standard materials cost allowed (SQx SP) to make 3.400 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? ook (For requirements 3 and 4, indicate the effect of each variance by selecting"F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) Hint Print 1 Standard quantity of kilograms allowed Standard cost allowed for actual output References Materials spending variance 3 4. Materials price variance Materials quantity variance Check my work 2 SkyChefs, Inc., prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 5,100 of these meals using 2,000 direct labor-hours. The company paid its direct labor workers a total of $28,000 for this work, or $14.00 per hour 1 polnts According to the standard cost card for this meal, it should require 0.40 direct labor-hours at a cost of $13.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 5,100 meals? 2. What is the standard labor cost allowed (SH x SR) to prepare 5,100 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? ook Hint (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do no round intermediate calculations.) Print Standard labor-hours allowed 1 References Standard labor cost allowed 2 3. Labor spending variance Labor rate variance 4. Labor efficiency variance Check my work 3 Logistics Solutions provides order fulfillment services for dot.com merchants. The company maintains warehouses that stock items carried by its dot.com clients. When a client receives an order from a customer, the order is forwarded to Logistics Solutions, which pulls the item from storage, packs it, and ships it to the customer. The company uses a predetermined variable overhead rate based on direct labor-hours. 1 polnts In the most recent month, 170,000 items were shipped to customers using 7,100 direct labor-hours. The company incurred a total of $23.430 in variable overhead costs. According to the company's standards, 0.03 direct labor-hours are required to fulfill an order for one item and the variable overhead rate is $3.35 per direct labor-hour. ook Required: 1. What is the standard labor-hours allowed (SH) to ship 170,000 items to customers? 2. What is the standard variable overhead cost allowed (SH x SR) to ship 170,000 items to customers? 3. What is the variable overhead spending variance? 4. What is the variable overhead rate variance and the variable overhead efficiency variance? Hint Print (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do no round intermediate calculations.) References 1. Standard quantity of labor-hours allowed 2 Standard variable overhead cost allowed 3 Variable overhead spending variance 4. Variable overhead rate variance Variable overhead efficiency variance Check my work 4 Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company has a standard cost system In use for all of Its products. According to the standards that have been set for the seat covers, the factory should work 995 hours each month to produce 1,990 sets of covers. The standard costs associated with this level of production are: points Per Set Total of Covers Direct materials 47,362 $ 8,955 $23.8e Direct labor 4,50 ook Variable manufacturing overhead (based on direct labor-hours) $ 2,388 1.20 $29.50 Print During August, the factory worked only 1,000 direct labor-hours and produced 2,300 sets of covers. The following actual costs were recorded durling the month: References Per Set Total of Covers Direct materials (8,880 yards) $ 50,600 $10,58e $ 4,688 $22.00 Direct labor 4.60 Variable manufacturing overhead 2.00 $28.60 At standard, each set of covers should require 3.5 yards of materlal. All of the materlals purchased during the month were used In production Required: 1. Compute the materials price and quantity varlances for August. 2 Compute the labor rate and efficiency variances for August. 3. Compute the variable overhead rate and efficiency variances for August. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.e., zero variance). Input all amounts as positlve values.) 1. Materials price variance Materials quantity variance 2. Labor rate variance Labor efficiency variance Variable overhead rate variance 3. Variable overhead efficiency variance Check my work 1 Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3.400 helmets, using 2,244 kilograms of plastic. The plastic cost the company $14,810. 1 According to the standard cost card, each helmet should require 0.60 kilograms of plastic, at a cost of $7.00 per kilogram. polnts Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,400 helmets? 2. What is the standard materials cost allowed (SQx SP) to make 3.400 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? ook (For requirements 3 and 4, indicate the effect of each variance by selecting"F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) Hint Print 1 Standard quantity of kilograms allowed Standard cost allowed for actual output References Materials spending variance 3 4. Materials price variance Materials quantity variance Check my work 2 SkyChefs, Inc., prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 5,100 of these meals using 2,000 direct labor-hours. The company paid its direct labor workers a total of $28,000 for this work, or $14.00 per hour 1 polnts According to the standard cost card for this meal, it should require 0.40 direct labor-hours at a cost of $13.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 5,100 meals? 2. What is the standard labor cost allowed (SH x SR) to prepare 5,100 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? ook Hint (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do no round intermediate calculations.) Print Standard labor-hours allowed 1 References Standard labor cost allowed 2 3. Labor spending variance Labor rate variance 4. Labor efficiency variance Check my work 3 Logistics Solutions provides order fulfillment services for dot.com merchants. The company maintains warehouses that stock items carried by its dot.com clients. When a client receives an order from a customer, the order is forwarded to Logistics Solutions, which pulls the item from storage, packs it, and ships it to the customer. The company uses a predetermined variable overhead rate based on direct labor-hours. 1 polnts In the most recent month, 170,000 items were shipped to customers using 7,100 direct labor-hours. The company incurred a total of $23.430 in variable overhead costs. According to the company's standards, 0.03 direct labor-hours are required to fulfill an order for one item and the variable overhead rate is $3.35 per direct labor-hour. ook Required: 1. What is the standard labor-hours allowed (SH) to ship 170,000 items to customers? 2. What is the standard variable overhead cost allowed (SH x SR) to ship 170,000 items to customers? 3. What is the variable overhead spending variance? 4. What is the variable overhead rate variance and the variable overhead efficiency variance? Hint Print (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do no round intermediate calculations.) References 1. Standard quantity of labor-hours allowed 2 Standard variable overhead cost allowed 3 Variable overhead spending variance 4. Variable overhead rate variance Variable overhead efficiency variance Check my work 4 Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company has a standard cost system In use for all of Its products. According to the standards that have been set for the seat covers, the factory should work 995 hours each month to produce 1,990 sets of covers. The standard costs associated with this level of production are: points Per Set Total of Covers Direct materials 47,362 $ 8,955 $23.8e Direct labor 4,50 ook Variable manufacturing overhead (based on direct labor-hours) $ 2,388 1.20 $29.50 Print During August, the factory worked only 1,000 direct labor-hours and produced 2,300 sets of covers. The following actual costs were recorded durling the month: References Per Set Total of Covers Direct materials (8,880 yards) $ 50,600 $10,58e $ 4,688 $22.00 Direct labor 4.60 Variable manufacturing overhead 2.00 $28.60 At standard, each set of covers should require 3.5 yards of materlal. All of the materlals purchased during the month were used In production Required: 1. Compute the materials price and quantity varlances for August. 2 Compute the labor rate and efficiency variances for August. 3. Compute the variable overhead rate and efficiency variances for August. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.e., zero variance). Input all amounts as positlve values.) 1. Materials price variance Materials quantity variance 2. Labor rate variance Labor efficiency variance Variable overhead rate variance 3. Variable overhead efficiency variance