Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 23-4A (Part Level Submission) Kansas Company uses a standard cost accounting system. In 2017, the company produced 27,600 units. Each unit took several pounds

Problem 23-4A (Part Level Submission) Kansas Company uses a standard cost accounting system. In 2017, the company produced 27,600 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $13.00. Normal capacity was 49,700 direct labor hours. During the year, 130,800 pounds of raw materials were purchased at $0.91 per pound. All materials purchased were used during the year. (a) Your answer is correct. If the materials price variance was $5,232 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, e.g. 2.75.) Standard materials price per pound $ Click if you would like to Show Work for this question: Open Show Work Show Solution Show Answer Link to Text Link to Text Attempts: 1 of 3 used (b) Your answer is correct. If the materials quantity variance was $14,136 unfavorable, what was the standard materials quantity per unit? (Round answer to 1 decimal place, e.g. 1.5.) Standard materials quantity per unit Click if you would like to Show Work for this question: Open Show Work Show Solution Show Answer Link to Text Link to Text Attempts: 2 of 3 used (c) Your answer is correct. What were the standard hours allowed for the units produced? Standard hours allowed Click if you would like to Show Work for this question: Open Show Work Show Solution Show Answer Link to Text Link to Text Attempts: 1 of 3 used (d) If the labor quantity variance was $5,200 unfavorable, what were the actual direct labor hours worked? Actual hours worked

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

Employee Relations Audits

Authors: C. Jennings, W. E. J. McCarthy, R. Undy

1st Edition

0415786614, 978-0415786614

More Books

Students also viewed these Accounting questions