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PLEASE ANSWER THE FOLLOWING QUESTION On May 1, 2017, DelCarmen Company began the manufacture of a new paging machine known as Dandy. The company installed
PLEASE ANSWER THE FOLLOWING QUESTION
On May 1, 2017, DelCarmen Company began the manufacture of a new paging machine known as Dandy. The company installed a standard costing system to account for manufacturing costs. The standard costs for a unit of Dandy and other information follow: (Click the icon to view the information) Actual production in May was 4,400 units of Dandy, and actual sales in May were 3,300 units. The amount shown for direct materials price variance applies to materials purchased during May. There was no beginning inventory of materials on May 1, 2017 Required 30200 2050 14.73 per hour 4. Compute the standard quantity of direct materials allowed in kilograms). Data Table Actual units produced 4400 Standard quantity of direct x Standard DM cost per unit = materials allowed (in kilograms) 5 22000 kilograms 5. Compute the actual quantity of direct materials used in kilograms). (Round your answer to the nearest whole number.) $ 15.00 The standard costs for a unit of Dandy follow: Direct materials (3 kg. at $5 per kg.) Direct manufacturing labour (1/2 hour at $14 per hour) Manufacturing overhead (80% of direct manufacturing labour costs) 7.00 5.60 Actual quantity of DM used (in kgs) kgs ) 27.60 6. Compute the actual quantity of direct materials purchased (in kilograms). (Round your answer to the nearest whole number.) The following data were obtained from DelCarmen's records for the month of May: Debit Credit Actual quantity of DM purchased kgs $ 165,000 74,250 $ 3,550 Revenues Accounts payable control (for May's purchases of direct materials) Direct materials price variance Direct materials efficiency variance Direct manufacturing labour price variance Direct manufacturing labour efficiency variance 2,600 7. Compute the actual direct materials price per kilogram. (Round your answer to the nearest cent.) Actual direct materials price per kg per kg 1,500 2,100Step by Step Solution
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