Do Homework - Nicholas Palazzolo Google Chrome ? Secure https://www.mathxl.com/Student/PlayerHomework.aspx?homeworkid?476806963&questionid-1&flushed-false&cld=4955309¢erwinsyes Cost Accounting Spring 2018 Section 2 Nicholas Palazzolo4/4/18 12:00 PM Homework: Chapter 7 Homework Score: 0 of 10 pts E7-24 (similar to) Save 1 of 1 (0 complete) Score: 0%, 0 of 10 pts Question Help The Seneca Corporation manufactures lamps. It has set up the following standards per finished unit for direct materials and direct manufacturing labor ?(Click the icon to view the standards.) The number of finished units budgeted for January 2014 was 9,630; 9,600 units were actually produced. EEE (Click the icon to view actual data.) Assume that there was no beginning inventory of either direct materials or finished units. During the month, materials purchases amounted to 96,300 lb., at a total cost of $500,760. Input price variances are isolated upon purchase. Input-efficiency variances are isolated at the time of usage. Read the requirements. Requirements Requirement 1. Compute the January 2014 price and efficiency variances of direct materials and direct manufacturingl Compute the January 2014 price and efficiency variances of direct materials and direct manufacturing labor Prepare journal entries to record the variances in requirement 1 Comment on the January 2014 price and efficiency variances of Seneca Let's begin by calculating the actual input at the budgeted price. (Round your answers to the nearest whole dollar.) 1. Actual input Budgeted price Cost 2. 3. Direct materials (purchases) Direct materials (usage) Direct manufacturing labor 4. Why might Seneca calculate direct materials price variances and direct materials efficiency variances with reference to different points in time? Data Table Print Done Enter any number in the edit fields and then cl Actual results in January 2014 were as follows: 50.00 Direct materials: 10 lb. at $5.00 per lb Direct manufacturing labor: 0.5 hour at S31 per hour Direct materials: 94,500 lb. used parts remaining 15.50 Direct manufacturing labor: 4,600 hours 150,650 Do Homework - Nicholas Palazzolo Google Chrome ? Secure https://www.mathxl.com/Student/PlayerHomework.aspx?homeworkid?476806963&questionid-1&flushed-false&cld=4955309¢erwinsyes Cost Accounting Spring 2018 Section 2 Nicholas Palazzolo4/4/18 12:00 PM Homework: Chapter 7 Homework Score: 0 of 10 pts E7-24 (similar to) Save 1 of 1 (0 complete) Score: 0%, 0 of 10 pts Question Help The Seneca Corporation manufactures lamps. It has set up the following standards per finished unit for direct materials and direct manufacturing labor ?(Click the icon to view the standards.) The number of finished units budgeted for January 2014 was 9,630; 9,600 units were actually produced. EEE (Click the icon to view actual data.) Assume that there was no beginning inventory of either direct materials or finished units. During the month, materials purchases amounted to 96,300 lb., at a total cost of $500,760. Input price variances are isolated upon purchase. Input-efficiency variances are isolated at the time of usage. Read the requirements. Requirements Requirement 1. Compute the January 2014 price and efficiency variances of direct materials and direct manufacturingl Compute the January 2014 price and efficiency variances of direct materials and direct manufacturing labor Prepare journal entries to record the variances in requirement 1 Comment on the January 2014 price and efficiency variances of Seneca Let's begin by calculating the actual input at the budgeted price. (Round your answers to the nearest whole dollar.) 1. Actual input Budgeted price Cost 2. 3. Direct materials (purchases) Direct materials (usage) Direct manufacturing labor 4. Why might Seneca calculate direct materials price variances and direct materials efficiency variances with reference to different points in time? Data Table Print Done Enter any number in the edit fields and then cl Actual results in January 2014 were as follows: 50.00 Direct materials: 10 lb. at $5.00 per lb Direct manufacturing labor: 0.5 hour at S31 per hour Direct materials: 94,500 lb. used parts remaining 15.50 Direct manufacturing labor: 4,600 hours 150,650
