Please solve the following problems.
Aquafloat Corporation manufactures rafts for use in swimming pools. The standard cost for material and labor is $89.20 per raft. This includes 8 kilograms of direct material at a standard cost of $5.00 per kilogram, and 6 hours of direct labor at $8.20 per hour. The following data pertain to November: Work-in-process inventory on November 1: none. Work-in-process inventory on November 30: 800 units (75 percent complete as to labor; material is issued at the beginning of processing). Units completed: 5,600 units. Purchases of materials: 50,000 kilograms for $249,250. Total actual labor costs: $300,760. Actual hours of labor: 36,500 hours. Direct-material quantity variance: $ 1,500 unfavorable. Required: 1. Compute the following amounts. a. Direct-labor rate variance for November. b. Direct-labor efficiency variance for November. c. Actual kilograms of material used in the production process during November. d. Actual price paid per kilogram of direct material in November. e. Total amounts of direct-material and direct-labor cost transferred to Finished-Goods Inventory during November. The total amount of direct-material and direct-labor cost in the ending balance of Work-in-Process Inventory at the end of November. 2. Prepare journal entries to record the following: a. Purchase of raw material and rate variance. b. Adding direct material to Work-in-Process Inventory and efficiency variance. c. Adding direct labor to Work-in-Process Inventory and labor variances. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Req 1E Req 1F Req 2 Compute the direct-labor rate variance for November. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance). Round intermediate calculations to 2 decimal places.) Show less Direct-labor rate variance Req 1A Req 1B >Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Req 1E Req 1F Req 2 Compute the direct-labor efficiency variance for November. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).) Show less Direct-labor efficiency variance Complete this question by entering your answers in the tabs below. Compute the actual kilograms of material used in the production process during November. .- Complete this question by entering your answers in the tabs below. Compute the actual price paid per kilogram of direct material in November. (Round your answer to 3 decimal places.) It" ki|-_ram Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Req 1E Req 1F Req 2 Compute the total amounts of direct-material and direct-labor cost transferred to Finished- Goods Inventory during November. Direct-material cost transferred Direct-labor cost transferred Total cost transferred Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Req 1E Req 1F Req 2 Compute the total amount of direct-material and direct-labor cost in the ending balance of Work-in-Process Inventory at the end of November. Direct-material Direct-labor Total cost in ending work-in- process inventory Complete this question by entering your answers in the tabs below. Prepare journal entries to record the above transactions: (If no entry is required for a transactionievent, select "No journal entry required" in the first account eld. Do not round your intermediate calculations.) View transaction list Journal entry worksheet Showr IessA Record the purchase of direct material on account and the direct-material purchase price variance. Note: Enter debits before credits. View general journal
