Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need help with: Standard Quantity per Unit of Output for Direct Labor and Direct Material - also: Actual Quantity Used per Unit of Output for

need help with: Standard Quantity per Unit of Output for Direct Labor and Direct Material - also: Actual Quantity Used per Unit of Output for Direct Materialimage text in transcribed

Part of your company's accounting database was destroyed when Godzilla attacked the city. You have been able to gather the following data from your files. Reconstruct the remaining information using the available data. All of the raw material purchased during the period was used in production. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance). Round "Standard Quantity per Unit of Output for Direct Material" to 2 decimal places.) Direct Labor Direct Material Standard price or rate per unit of input Standard quantity per unit of output Actual quantity used per unit of output Actual price or rate per unit of input Actual output Direct-material price variance Direct-material quantity variance Total direct-material variance Direct-labor rate variance Direct-labor efficiency variance Total direct-labor variance 20 per hour 8 per lb hours per unit Ibs per unit Ibs per unit 3.5 hours 7 per lb 10,000 units 21 per hour 10,000 units $ 30,000 F (20,000) $ 10,000 F 35,000 U $ 100,000 F 65,000 F

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

Practical Auditing

Authors: Ernest Evan Spicer, Ernest Charles Pegler

17th Edition

0406678014, 9780406678010

More Books

Students also viewed these Accounting questions

Question

Excel caculation on cascade mental health clinic

Answered: 1 week ago

Question

Technology. Refer to Case

Answered: 1 week ago