Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

plz answer all the questions Mickley Corporation produces two products, Alpha6 and Zeta7, which pass through two operations, Sintering and Finishing. Each of the products

plz answer all the questions image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Mickley Corporation produces two products, Alpha6 and Zeta7, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials, X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Information relating to materials purchased and materials used in production during May follows: The following additional information is available: 1. The company recognizes price variances when materials are purchased. 2. The standard lobour rate is $19.80 per hour in Sintering and $19.20 per hour in Finishing. 3. During May, 1,200 direct labour-hours were worked in Sintering at a total labour cost of $27,000, and 2,850 direct labour-hours were worked in Finishing at a total labour cost of $59,850. 4. Production during May was 1,500 Alpha6 and 2,000 Zeta7. Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materiats and direct labour, (Round your answers to 2 decimal places.) Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and direct labour. (Round your answers to 2 decimal places.) 2. Compute the materials price and quantity variances for each material. (Input all amounts as positive values. Indicate the effect of each variance by selecting " F " for favorable, "U" for unfavorable, and "None" for no effect (i.e, zero variance).) 3. Compute the labour rate and efficiency variances for each operation, (Input all amounts as positive values. Indicate the effect of each varlance by selecting " F " for favorable, "U" for unfavorable, and "None" for no effect (i.e, zero variance).)

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

Financial Audit American Battle Monuments Commissions Financial Statements For Fiscal Years 2011 And 2010

Authors: Government Accountability Office

1st Edition

1492310883, 978-1492310884

More Books

Students also viewed these Accounting questions

Question

1. Identify three communication approaches to identity.

Answered: 1 week ago

Question

d. Who are important leaders and heroes of the group?

Answered: 1 week ago

Question

3. Describe phases of minority identity development.

Answered: 1 week ago