Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help, add procedure ln how to get the right answear for all quedtions Req 1A, 1B and Req 2 Problem 10-11 (Static) Direct Materials
Please help, add procedure ln how to get the right answear for all quedtions Req 1A, 1B and Req 2
Problem 10-11 (Static) Direct Materials and Direct Lnbor Variances; Computations from Incomplete Data [LO10-1, LO1O-2] Sharp Company manufactures a product for which the following standards have been set: During March, the compaly purchased direct materials at a cost of $11,300, all of which were used in the production of 3,200 units of product. In addition, 4,900 direct labor-hours were worked on the product during the month. The cost of this labor time was $95.550. The $, thes have been computed for the month: Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance. 2. For direct labor: a. Compute the standard direct labor rate per hour. b. Compute the standard hours allowed for the month's production. c. Compute the standard hours allowed per unit of product. Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance. 2. For direct labor: a. Compute the standard direct labor rate per hour. b. Compute the standard hours allowed for the month's production. c. Compute the standard hours allowed per unit of product. Combete this question by entering your answrers In the tabs below. For direct materials, compute the actual cost per foot of materials for March. (Round your answer to 2 decimal places.) Complete this questlon by entering your answers in the tabs below. For direct materials, compute the price variance and the spending variance. (Do not round intermediate calculations. Indicate the effect of each varianol' by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts as positive values.) Complete this question by entering your answers in the tabs below. 2a. For direct labor, compute the standard direct labor rate per hour. 2b. For direct labor, compute the standard hours allowed for the month's production. 2c. For direct labor, compute the standard hours allowed per unit of product. (Round your answer to 1 decimal place.) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started