{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-29T01:54:39-04:00", "answer_date": "2024-06-29 01:54:39", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4443266", "url": "\/study-help\/questions\/current-attempt-in-progress-swifty-clothiers-is-a-small-company-4443266", "question_creation_date_js": "2024-06-29T01:54:39-04:00", "question_creation_date": "Jun 29, 2024 01:54 AM", "meta_title": "[Solved] Current Attempt in Progress Swifty Clothi | SolutionInn", "meta_description": "Answer of - Current Attempt in Progress Swifty Clothiers is a small company that manufactures tall-men's suits. The company has us | SolutionInn", "meta_keywords": "current,attempt,progress,swifty,clothiers,small,company,manufactures,tall-men,s,suits,standard", "question_title_h1": "Current Attempt in Progress Swifty Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May", "question_title": "Current Attempt in Progress Swifty Clothiers is a small company that manufactures", "question_title_for_js_snippet": "Current Attempt in Progress Swifty Clothiers is a small company that manufactures tall men's suits The company has used a standard cost accounting system In May 202210300 suits were produced The following standard and actual cost data applied to the month of May, when normal capacity was 16,000 direct labor hours All materials purchased were used Cost Element Standard (per unit) Actual Direct materials 8 yards at $4 80 per yard $387,345 for 83,300 yards ($4 65 per yard) Direct labor 1 20 hours at $14 00 per hour $186,758 for 13,060 hours ($14 30 per hour) Overhead 1 20 hours at $6 30 per hour (xed $3 50 variable $48,100 xed overhead $37,500 variable $2 80) overhead Overhead is applied on the basis of direct labor hours At normal capacity, budgeted xed overhead costs were $56,000, and budgeted variable overhead was $44,800 (a) Compute the total, price, and quantity variances for (1) materials and (2) labor (Round per unit values to 2 decimal places, as 52 75 and nal answers to 0 decimal places, 2,3 52 ) (1) Total materials variance $ V Materials price variance $ v (a) Compute the total, price, and quantity variances for (1) materials and (2) labor (Round per unit values to 2 decimal places, e g 52 75 and final answers to O decimal places, e g 52 ) (1) Total materials variance to Materials price variance to Materials quantity variance to (2) Total labor variance to Labor price variance to Labor quantity variance to (b) Compute the total overhead variance Total overhead variance eTextbook and Media", "question_description": "

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\"image\"image<\/div><\/div><\/div><\/figure> Current Attempt in Progress Swifty Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 202210300 suits were produced. The following standard and actual cost data applied to the month of May, when normal capacity was 16,000 direct labor hours. All materials purchased were used. Cost Element Standard (per unit) Actual Direct materials 8 yards at $4.80 per yard $387,345 for 83,300 yards ($4.65 per yard) Direct labor 1.20 hours at $14.00 per hour $186,758 for 13,060 hours ($14.30 per hour) Overhead 1.20 hours at $6.30 per hour (xed $3.50; variable $48,100 xed overhead $37,500 variable $2.80) overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted xed overhead costs were $56,000, and budgeted variable overhead was $44,800. (a) Compute the total, price, and quantity variances for (1) materials and (2) labor. (Round per unit values to 2 decimal places, as. 52.75 and nal answers to 0 decimal places, 2,3. 52.) (1) Total materials variance $ V Materials price variance $ v (a) Compute the total, price, and quantity variances for (1) materials and (2) labor. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 52.) (1) Total materials variance to Materials price variance to Materials quantity variance to (2) Total labor variance to Labor price variance to Labor quantity variance to (b) Compute the total overhead variance. Total overhead variance eTextbook and Media", "transcribed_text": "", "related_book": { "title": "Cost Management Measuring Monitoring And Motivating Performance", "isbn": "1118168879, 9781118168875", "edition": "2nd Canadian Edition", "authors": "Leslie G. Eldenburg, Susan Wolcott, Liang Hsuan Chen, Gail Cook", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/635f99b5717e0_1157.jpg", "uri": "\/textbooks\/cost-management-measuring-monitoring-and-motivating-performance-2nd-canadian-edition-1157", "see_more_uri": "" }, "free_related_book": { "isbn": "0824776503", "uri": "\/textbooks\/adaptive-control-systems-techniques-and-applications-1st-edition-9780824776503", "name": "Adaptive Control Systems Techniques And Applications", "edition": "1st Edition" }, "question_posted": "2024-06-29 01:54:39", "see_more_questions_link": "\/study-help\/questions\/business-human-resource-management-2020-May-22", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/two-structural-members-and-b-are-bolted-to-34285", "description": "Two structural members A and B are bolted to a bracket as shown. 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