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I need some help figuring out materials quantity variance. Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing.

I need some help figuring out materials quantity variance.
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Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Raw Material Standard Labor Time Product X442 7661 Sintering Finishing Alpha 6 3.0 kilon 2.5 liters 0.30 hours 1.20 hours Leta 4.0 kilos 4.5 liters 0.30 hours 0.70 hours Information relating to materials purchased and materials used in production during May follows: Material Purchases Purchase Cost Standard Price Used in Production X442 15,600 kilos $ 49,920 $ 3.00 per kilo 10, 100 kilo 7661 16.600 litera $ 24,900 $ 1.60 per liter 14.600 liters The following additional Information is available: a. The company recognizes price variances when materials are purchased b. The standard labor rate is $22.00 per hour in Sintering and $21.00 per hour in Finishing, During May 1.400 direct labor-hours were worked in Sintering at a total labor cost of $33,740, and 3,010 direct labor-hours were Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor 2. Compute the materials price and quantity variances for each material 3. Compute the labor rate and efficiency variances for each operation Standard Quantity or Hours Standard Price or Rate Standard Cost Alpha6: Direct materials-X442 3.00 kilos $ 9.00 Direct materials-Y661 2.50 0 liters $ 3.00 $ 1.60 $ 22.00 4.00 0.30 per kilo per liter per hour per hour hours Direct labor-Sintering Direct labor-Finishing Total 6.60 >> 1.20 hours $ 21.00 25.20 $ 44.80 Zeta7: Direct materials-X442 4.00 kilos $ 12.00 4.50 liters 7.20 $ 3.00 $ 1.60 $ 22.00 $ 21.00 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total 0.30 hours per kilo per liter per hour per hour 6.60 >> 0.70 hours 14.70 40.50 Req 1 Req 2 > Reg 1 Req 2 Reg 3 Compute the materials price and quantity variances for each material. (Indicate the effect of each variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Direct Materials Variances-Material X442 Materials price variance 3,120 U Materials quantity variance 1,500 F Direct Materials Variances-Material Y661: Materials price variance 1,660 F Materials quantity variance 6,900 X U C Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Raw Material Standard Labor Time Product X442 7661 Sintering Finishing Alpha 6 3.0 kilon 2.5 liters 0.30 hours 1.20 hours Leta 4.0 kilos 4.5 liters 0.30 hours 0.70 hours Information relating to materials purchased and materials used in production during May follows: Material Purchases Purchase Cost Standard Price Used in Production X442 15,600 kilos $ 49,920 $ 3.00 per kilo 10, 100 kilo 7661 16.600 litera $ 24,900 $ 1.60 per liter 14.600 liters The following additional Information is available: a. The company recognizes price variances when materials are purchased b. The standard labor rate is $22.00 per hour in Sintering and $21.00 per hour in Finishing, During May 1.400 direct labor-hours were worked in Sintering at a total labor cost of $33,740, and 3,010 direct labor-hours were Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor 2. Compute the materials price and quantity variances for each material 3. Compute the labor rate and efficiency variances for each operation Standard Quantity or Hours Standard Price or Rate Standard Cost Alpha6: Direct materials-X442 3.00 kilos $ 9.00 Direct materials-Y661 2.50 0 liters $ 3.00 $ 1.60 $ 22.00 4.00 0.30 per kilo per liter per hour per hour hours Direct labor-Sintering Direct labor-Finishing Total 6.60 >> 1.20 hours $ 21.00 25.20 $ 44.80 Zeta7: Direct materials-X442 4.00 kilos $ 12.00 4.50 liters 7.20 $ 3.00 $ 1.60 $ 22.00 $ 21.00 Direct materials-Y661 Direct labor-Sintering Direct labor-Finishing Total 0.30 hours per kilo per liter per hour per hour 6.60 >> 0.70 hours 14.70 40.50 Req 1 Req 2 > Reg 1 Req 2 Reg 3 Compute the materials price and quantity variances for each material. (Indicate the effect of each variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Direct Materials Variances-Material X442 Materials price variance 3,120 U Materials quantity variance 1,500 F Direct Materials Variances-Material Y661: Materials price variance 1,660 F Materials quantity variance 6,900 X U C

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