Dash Company adopted a standard costing system several years ago. The standard costs for the prime costs (ie, direct materials and direct labor) of its single product are: Material Labor (5 kilograns * $8.00 per kilogran) (5 hours * $17.20 per hour) $40.00 86.00 All materials are added at the beginning of processing. The following data were taken from the company's records for November In-process beginning inventory In-process ending inventory Units completed Budgeted output Purchases of materials Total actual direct labor costs Actual direct labor hours Materials usage variance Total materials variance None 900 units, 70% complete as to direct labor 6,900 units 7.300 units 63,000 kilograms $570,000 36,200 hours $ 2,800 Unfavorable $ 910 Unfavorable Required: 1. Compute for November a. The direct labor efficiency variance. Is this variance favorable (F) or unfavorable (U)? b. The direct labor rate variance. Is this variance favorable (F) or unfavorable (U)? c. The actual number of kilograms of material used in the production process during the month. d. The actual price peld per kilogram of material during the month, the company calculates the direct materials price variance at point of purchase. e. The amount of direct materials cost and direct labor cost transferred to the Finished Goods Inventory account The total amount of direct materials cost and direct labor cost in the Work in Process Inventory account at the end of the month 2. Prepare Joumal entries to record all transactions, including the variances in requirement 1 Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 1.Compute for November: a. The direct labor efficiency variance. Is this variance favorable (F) or unfavorable (U)? b. The direct labor rate variance. Is this variance favorable (F) or unfavorable (U)? c. The actual number of kilograms of material used in the production process during the month. d. The actual price paid per kilogram of material during the month, the company calculates the direct materials price variance at point of purchase. (Round your answer to 3 decimal places.) e. The amount of direct materials cost and direct labor cost transferred to the Finished Goods Inventory account. f. The total amount of direct materials cost and direct labor cost in the Work-in-Process Inventory account at the end of the Show less month. kg a Direct labor efficiency variance b Direct labor rate variance c. Actual number of kilograms d. Actual price paid per kilogram of material 0. Amount transferred to the finished goods Inventory account 1 Ending inventory at standard cost es Required 2 > For a View transaction list Journal entry worksheet B > Record the entry for the purchase of 63,000 kilograms of materials Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View generaluna! w transaction list Journal entry worksheet A Record the entry for the issue of materials to production. Note: Enter debits before credits Transaction 2 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the entry for direct labor wages and standard direct labor cost incurred for manufacture Note: Enter debits before credits Transaction 3 General Journal Debit Credit Record entry Clear entry View general journal
