Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Part of your company's accounting database was destroyed during a ransomware attack. You have been able to gather the following data from your files. Reconstruct

Part of your company's accounting database was destroyed during a ransomware attack. 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.
Note: 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" to 2 decimal places.
\table[[Standard price or rate per unit of input,Direct Labor,Direct Material],[$,20.00,per hour,$,12.00P,per pound],[Standard quantity per unit of output,,2.68,hours per unit,,,pounds per unit],[Actual quantity used per unit of output,,2.50,hours,,4.83p,pounds per unit],[Actual price or rate per unit of input,$,21.00,per hour,$,11.00p,per pound],[Actual output,,10,000,units,,10,000,units],[Direct-material price variance,,,,$,52,500,F
find standard price or rate per unitof input , actual quantity per unit of ouput, standard quantity per unit of output, direct labor rate vsriance , direct material quantity variance, actual quantity used per unit of output
image text in transcribed

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

Horngrens Cost Accounting A Managerial Emphasis

Authors: Srikant Datar, Madhav Rajan

16th Global Edition

1292211547, 9781292211541

More Books

Students also viewed these Accounting questions