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need help with the following 1. Susan Company accumulates the following data concerning raw materials in making its nished product. (1) Price per pound of
need help with the following
1.
Susan Company accumulates the following data concerning raw materials in making its nished product. (1) Price per pound of raw materials is net purchase price $2.90, freight-in $0.40, and receiving and handling $0.50. (2) Quantity per gallon ofnished product is required materials 3.4 pounds and allowance for waste and spoilage 0.6 pounds. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) Standard direct materials price per pound of raw materials. $ (b) Standard direct materials quantity per gallon. pounds (c) Total standard materials cost per gallon. $ Labor data for making one gallon of nished product in Susan Company are as follows. (1) Pricehourly wage rate $15.90, payroll taxes $0.50, and fringe benets $1.70. (2) Quantityactual production time 1.6 hours, rest periods and cleanup 0.30 hours, and setup and downtime 0.20 hours. Compute the following. (Round answers to 2 decimal places, ea. 1.25.) (a) Standard direct labor rate per hour. $ (b) Standard direct labor hours per gallon. hours (c) Standard labor cost per gallon. $ Crane Company's standard materials cost per unit of output is $8.00 (2.00 pounds x $4.00). During July, the company purchases and uses 1,800 pounds of materials costing $9,540 in making 1,000 units of finished product. Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to O decimal places, e.g. 52.) Total materials variance $ Materials price variance $ V Materials quantity variance $Waterway Company's standard labor cost per unit of output is $22.00 (2.00 hours x $11 per hour). During August, the company incurs 2,860 hours of direct labor at an hourly cost of $12.10 per hour in making 1,300 units of nished product. Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, 6.3. 52.75.) Total labor variance $ v Labor price variance $ v Labor quantity variance $ vStep by Step Solution
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