Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I keep doing these incorrect and getting the numbers wrong, please helo me solve this problem :) Dawson Toys, Limted, produces a toy called the

I keep doing these incorrect and getting the numbers wrong, please helo me solve this problem :)
image text in transcribed
image text in transcribed
Dawson Toys, Limted, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy. Direct materials: 6 microns per toy at $150 per micron Direct labor 13 hours per toy at $21 per hour During July, the company produced 3,000 Maze toys. The toy's production data for the month are as follows Direct materials: 25.000 microns were purchased at a cost of $148 per micron 5,000 of these microns were still in inventory of the end of the month Direct labor. 4000 direct labor-hours were worked at a cost of $88,000 Required: 1. Compute the following variances for July: (Indicate the e and "None" for no effect (i.e., zero variance). Input all am a. The materials price and quantity variances. b. The labor rate and efficiency variances. 1a. Material price variance F 0 1a. Material quantity variance 16. Labor rate variance 1b. Labor efficiency variance TU

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

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

Economics Private And Public Choice

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

17th Edition

0357133994, 9780357133996

More Books

Students also viewed these Accounting questions

Question

Differentiate the function. r(z) = 2-8 - 21/2 r'(z) =

Answered: 1 week ago

Question

16.2 Explain three trends in the labour movement in Canada.

Answered: 1 week ago