Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need help please Direct Labor and Direct Materials Variances, Journal Entrics Samson Compeny produces paper towels. The company has established the following direct materials and

need help please
image text in transcribed
image text in transcribed
Direct Labor and Direct Materials Variances, Journal Entrics Samson Compeny produces paper towels. The company has established the following direct materials and direct labor standards for one case of paper towels: During the first quarter of the yeat, Samson produced 40,000 caset of paper towels. The company purchased und used 160,300 pounds of paper pulp at $0.27 per pound Actual direct lebor used was $0,000 hours at $18.20 per hour. Required: Instructions for parts 1 and 2 : If a variance is zero, enter " 0 " and select "Not applicable" from the drop down box. 1. Caiculate the direct materials price and usage variances. 2. Calculate the direct labor rate and efficiency variances. 3. Prepare the joumal entries for (1) the direct materials price variance, (2) the direct materials usage variance, and (3) the direct labor variances If an amount box does not require an entry, leave it blank. Instructions for parts 1 and 2 : If a variance is zero, enter " 0 " and select "Not applicable" from the drop down box. 1. Calculate the direct materials price and usage variances. 2. Calculate the direct labor rate and efficiency variances. 3. Prepare the journal entries for (1) the direct materials price variance, (2) the direct materials usage variance, and (3) the direct labor variances. If an amount box does not require an entry, leave it blank

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

Energy Audits And Improvements For Commercial Buildings

Authors: Ian M. Shapiro

1st Edition

1119084164, 978-1119084167

More Books

Students also viewed these Accounting questions

Question

Which of the following is not one of the work-life balance issues

Answered: 1 week ago