Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Direct materials cost standard the cost va Acta x Direct materials efficiency standard Actual amount of fabric purchased and used Actual cost of fabric purchased

image text in transcribed

image text in transcribed

Direct materials cost standard the cost va Acta x Direct materials efficiency standard Actual amount of fabric purchased and used Actual cost of fabric purchased and used Direct labor cost standard Direct labor efficiency standard Actual amount of direct labor hours $4.00 per yard of fabric 2.30 yards per shirt 2,840 yards $12,354 $14.00 per DLH 7.50 DLHr per shirt 9.900 DLHO $134,145 Actual cost of direct labor Print Done nput fields and Clear All Smithson Company manufactures shirts. During June, Smithson made 1,300 shirts and gathered the following additional data: (Click on the icon to view the data) Read the requirements. 7. Calculate the direct materials cost variance. Select the formula, then enter the amounts and compute the cost variance for direct materials and identify whether the variance is favorable Actual Cost Standard Cost Actual Quantity Direct Materials Cost Variance Choose from any list or enter any number in the input fields and then click Check Answer Clear A 8 parts remaining

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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: Charles E. Davis, Elizabeth Davis

2nd edition

1118548639, 9781118800713, 1118338448, 9781118548639, 1118800710, 978-1118338445

Students also viewed these Accounting questions

Question

Calculate Gross Profit, Contribution Margin, and Operating profit

Answered: 1 week ago