Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 5 Mojo Co. makes zippos out of a material called ladi. During the month, Mojo made 700 zippos using 2030 kilos of ladi. The

image text in transcribed
image text in transcribed
Exercise 5 Mojo Co. makes zippos out of a material called ladi. During the month, Mojo made 700 zippos using 2030 kilos of ladi. The ladi cost 4466 Yen. During the month, Mojo also incurred a direct labor cost of 11025 Yen having worked 630 direct labor hours. Company standards show each zippo requires 3 kilos of ladi at a cost of 2 Yen per kilo. It should take 1 hours of direct labor to make one zippo at a standard labor rate of 15 Yen per hour What is the actual price of material per kilo? 2.20 What is the standard quantity given the number of zippos produced? 2,100.00 What is the amount of material price variance? X812.00 X: MPV.(AP-SP)AQ Is the MPV favorable or unfavorable? Unfavorable What is the amount of material quantity (efficiency) variance? Is the MQV favorable or unfavorable? Favorable What is the actual labor rate? What is the standard hours allowed for the number of zippos made? What is the amount of labor rate (price) variance? Is the MPV favorable or unfavorable? Unfavorable What is the amount of labor efficiency (quantity) variance? Is the MQV favorable or unfavorable? Favorable Exercise 6 X x X Indi Co. makes zollies out of a special type of rubber. During the month, Indi made 5600 zollies using 11760 kilos of rubber. The rubber cost $444528. During the month, Indi also incurred a direct labor cost of $317520 having worked 35280 direct labor hours. Indi's standard costs include 2 kilos of rubber at a cost of $42 per kilo. The standard direct labor time is 7 hours per collie at a standard labor rate of $10 per hour. What is the actual price of material per kilo? What is the standard quantity given the number of zollies produced? What is the amount of material price variance? Is the MPV favorable or unfavorable? What is the amount of material quantity efficiency) variance? Isthe MQV favorable or unfavorable? What is the actual labor rate? What is the standard hours allowed for the number of zippos made? What is the amount of labor rate (price) variance? Is the MPV favorable or unfavorable? What is the amount of labor efficiency (quantity) variance? Isthe MQV favorable or unfavorable? X

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Design Of Cost Management Systems

Authors: Robin Cooper, Robert S. Kaplan

2nd Edition

0135704170, 978-0135704172

More Books

Students also viewed these Accounting questions

Question

3. Call on low achievers as often as you do high achievers.

Answered: 1 week ago

Question

Is this public actively seeking information on this issue?

Answered: 1 week ago

Question

How much loyalty does this public have for your organization?

Answered: 1 week ago

Question

How influential does the organization see this public as being?

Answered: 1 week ago