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During June, Danby Company's material purchases amounted to 8,640 pounds at a price of $7.00 per pound. Actual costs incurred in the production of 2,700
During June, Danby Company's material purchases amounted to 8,640 pounds at a price of $7.00 per pound. Actual costs incurred in the production of 2,700 units were as follows: Direct labor: $151,834 ($17.80 per hour) Direct material: $ 40,110 ($7.00 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 3 hours per unit Rate, $17.00 per hour Direct Material: Quantity, 2 pounds per unit Price, $6.30 per pound Required: Fill in the amounts in the tables below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Fill in the amounts in the tables below. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero "Actual Price" and "Standard Price" to 2 decimal places.) Required 1 Required 2 Required 3 Fill in the amounts in the tables below. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero "Actual Price" and "Standard Price" to 2 decimal places.) Direct-Material Price and Quantity Variances Actual Material Cost Projected Material Cost Standard Material Cost Actual Quantity Actual Price Actual Quantity Standard Price Standard Quantity Standard Price pounds used per pound pounds used per pound pounds allowed per pound $ SA 0 Direct-material price variance Unfavorable 0 Unfavorable Direct-material variance Unfavorable Direct-material quantity variance Required 1 Required 2 > 0 Required 1 Required 2 Required 3 Fill in the amounts in the tables below. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).). Round "Actual Price" and "Standard Price" to 2 decimal places.) Direct-Material Purchase Price Variances Actual Material Cost of Purchases Projected Material Cost of Purchases Actual Price Actual Quantity Standard Price Actual Quantity S pounds purchased EA 0 per pound pounds purchased Unfavorable Direct-material purchase price variance < Required 1 0 per pound Required 3 > Required 1 Required 2 Required 3 Fill in the amounts in the tables below. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter variance).). Round "Actual Price" and "Standard Price" to 2 decimal places.) Direct-Labor Rate and Efficiency Variances Actual Labor Cost Projected Labor Cost Standard Labor Cost Actual Hours Actual Rate Actual Hours Standard Rate Standard Hours Standard Rate hours used x $ 0 per hour hours used Direct-labor rate variance x $ 0 Unfavorable per hour hours allowed Unfavorable x $ 0 Unfavorable Direct-labor efficiency variance Direct-labor variance < Required 2 Required 3 > per hour
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