Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer all. Urgent! Crane Company manufactures a product with a standard direct labor cost of two hours at $17 per hour, During July, 1400

Please answer all. Urgent!
image text in transcribed
image text in transcribed
image text in transcribed
Crane Company manufactures a product with a standard direct labor cost of two hours at $17 per hour, During July, 1400 units were produced using 3000 hours at $17.3 per hour. The labor price variance was $3400U $4300F $4300U $900U Concord has a standard of 2 hours of labor per unit, at $20 per hour, In producing 1800 units, Concord used 3450 hours of laborat a total cost of $70035, Concord's iabor price variance is $1965F$1035U$3045F$2100U Vaughn Manufacturing produces a product that requires 2.60 pounds of materials per unit. The allowance for waste and spoilage per unit is 0.30 pounds and 0.10 pounds, respectively. The purchase price is $3 per pound, but 32% discount is usually taken. Freight costs are $0.40 per pound, and receiving and handling costs are $0.06 per pound. The hourly wage rate is $11 per hour, but a raise which will average $0.30 will go into effect soon. Payroll taxes are $1.10 per hour, and employee benefits average $2.20 per hour. Standard production time is 1 hour per unit, and the allowance for rest periods and setup is 0,20 hours and 0,10 hours, respectively. The standard direct materials price per pound is 53.40. 53.46 . $3.00. 52.94

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

CIA Part 3 Business Knowledge For Internal Auditing 2022

Authors: MUHAMMAD ZAIN

1st Edition

B09PM77HSC, 979-8794979688

More Books

Students also viewed these Accounting questions

Question

politeness and modesty, as well as indirectness;

Answered: 1 week ago