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Please assist with the 3 accounting questions attached. During May, Joliet Fabrics Corporation manufactured 600 units of a special multilayer fabric with the trade name

Please assist with the 3 accounting questions attached.

image text in transcribed During May, Joliet Fabrics Corporation manufactured 600 units of a special multilayer fabric with the trade name Sty Direct material purchased: 19,000 yards at $1.48 per yard $ 28,120 Direct material used: 10,500 yards at $1.48 per yard 15,540 Direct labor: 3,100 hours at $9.25 per hour 28,675 The standard prime costs for one unit of Stylex are as follows: Direct material: 20 yards at $1.45 per yard $ Direct labor: 5 hours at $8.00 per hour Total standard prime cost per unit of output 29 40 $ 69 Required: Compute the following variances for the month of May. (Indicate the effect of each variance by selecting "Favora Direct-material price variance Direct-material quantity variance Direct-material purchase price variance Direct-labor rate variance Direct-labor efficiency variance with the trade name Stylex. The following information from the Stylex production department also pertains to May. ce by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance). rtains to May. ero variance). Sal Amato operates a residential landscaping business in an affluent suburb of St. Louis. In an effort to provide q The following data relate to his first year's experience with 51 fertilization clients: Each client required nine applications throughout the year and was billed $44.00 per application. Two applications involved Type I fertilizer, which contains a special ingredient for weed control. The re Sal purchased 6,000 pounds of Type I fertilizer at $0.63 per pound and 11,000 pounds of Type II fertil A new, part-time employee was hired to spread the fertilizer. Sal had to pay premium wages of $12.50 Based on previous knowledge of the operation, articles in trade journals, and conversations with other Fertilizer purchase price per pound: Type I, $0.60; Type II, $0.52 Fertilizer usage: 50 pounds per application Typical hourly wage rate of landscape personnel: $10.00 Labor time per application: 40 minutes The operation did not go as smoothly as planned, with customer complaints actually much higher than Required: 1. Compute Sal's direct-material variances for each type of fertilizer. 2. Compute the direct-labor variances. 3-a. Compute the actual cost of the client applications. (Note: Exclude any fertilizer in inventory, as remaining 3-b. Calculate the profit or loss of Sal's new lawn fertilization service. 4. On the basis of the variances that you computed in parts (1) and (2) was the new service a success from an 5. Should the fertilizer service be continued next year? Compute Sal's direct-material variances for each type of fertilizer. (Indicate the effect of each variance by se Direct-material Price- variance Quantity variance Purchase price variance Type I Type II unfavorable favorable unfavorable favorable favorable favorable Compute the direct-labor variances. (Indicate the effect of each variance by selecting "Favorable" or "Unfavo Direct-labor Rate variance Efficiency variance unfavorable favorable Compute the actual cost of the client applications. (Note: Exclude any fertilizer in inventory, as remaining fer Acutal cost Calculate the profit or loss of Sal's new lawn fertilization service. (Do not round intermediate calculations. Ro Net Profit On the basis of the variances that you computed in parts (1) and (2) was the new service a success from an Total variance uis. In an effort to provide quality service, he has concentrated solely on the design and installation of upscale landscaping p 44.00 per application. ent for weed control. The remaining seven applications involved Type II fertilizer. 000 pounds of Type II fertilizer at $0.50 per pound. Actual usage amounted to 4,660 pounds of Type I and 8,300 pounds of y premium wages of $12.50 per hour because of a very tight labor market; the employee logged a total of 185 hours at clien nd conversations with other landscapers, Sal established the following standards: s actually much higher than expected. in inventory, as remaining fertilizer can be used next year.) w service a success from an overall cost-control perspective? ect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero varia ing "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance). Do not round intermedia nventory, as remaining fertilizer can be used next year.) (Do not round intermediate calculations. Round your answer to ermediate calculations. Round your answer to 2 decimal places.) service a success from an overall cost-control perspective? (Indicate the effect of each variance by selecting "Favorable of upscale landscaping plans (e.g., trees, shrubs, fountains, and lighting). With his clients continually requesting additional se I and 8,300 pounds of Type II. tal of 185 hours at client residences. o effect (i.e., zero variance). Round your intermediate calculations and final answers to 2 decimal places.) Do not round intermediate calculations and round your final answer to 2 decimal places.) . Round your answer to 2 decimal places.) by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance). Do not round in requesting additional services, Sal recently expanded into lawn maintenance, including fertilization. iance). Do not round intermediate calculations. Round your answer to 2 decimal places.) The director of cost management for Portland Instrument Corporation compares each month's actual results with Standard Direct-Labor Rate per Hour Labor class III $ Standard Direct-Labor Hours Allowed, Given April Output 24.9 1,900 Labor class II 21.9 1,900 Labor class I 15.9 1,900 A new union contract negotiated in March resulted in actual wage rates that differed from the standard rates. The Actual Direct-Labor Rate per Hour Labor class III $ Actual Direct-Labor Hours 26.7 2,000 Labor class II 23.4 2,200 Labor class I 17.1 1,650 Required: 1-a. Compute the direct-labor rate variance for each labor class for the month of April. 1-b. Compute the direct-labor efficiency variance for each labor class for the month of April. 2. Which of the following could be considered an advantage of using a standard-costing system in which the s Compute the direct-labor rate variance for each labor class for the month of April. (Indicate the effect of each Labor Class III II I Total Compute the direct-labor efficiency variance for each labor class for the month of April. (Indicate the effect o Labor Class III II I Total ach month's actual results with a monthly plan. The standard direct-labor rates for the year just ended and the standard hou rd Direct-Labor Allowed, Given ril Output ed from the standard rates. The actual direct-labor hours worked and the actual direct-labor rates per hour experienced for th l Direct-Labor Hours onth of April. d-costing system in which the standard direct-labor rates are not changed during the year to reflect such events as a new lab ril. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no e of April. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for ed and the standard hours allowed, given the actual output in April, are shown in the following schedule. r hour experienced for the month of April were as follows: uch events as a new labor contract? and enter "0" for no effect (i.e., zero variance).) None" and enter "0" for no effect (i.e., zero variance).)

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