requirement 3 choices are:
requirement 4 choices are:
Question Help The Yates Corporation manufactures lampes. It has set up the following standards per finished unit for direct Assume that there was no beginning inventory of the direct materials or finished units. During the morth materials and direct manufacturing labor. materials purchased amounted to 99.400 lb, a total cost of $516.880. input price warm red (Click the icon to view the standards.) upon purchase. Inpur-efficiency variances are isolated at the time of usage The number of finished units budgeted for January 2017 was 3.940, 9,850 units were actually produced Read the requirements THE (Click the icon to view actual data) Requirement 1. Compute the January 2017 price and efficiency variances of direct mater Let's begin by calculating the actual input at the budgeted price (Round your answers to Actueel Bucand price 1 Standards Actual Data Direct material: 10 lb. at 55.00 per Direct manufacturing bor 0.5 hourat 532 per hour $ 50,00 16.00 Poet Print Done Actual results in January 2017 were as follows Direct material: 97.500 lb used Direct manufacturing labor: 4,900 hours $ 162.925 Print Done hd direct manufacturing labor. Label och variance as favorable (F) or unfavorable (U). Prima FW Choose from any list or enter any number in the input fields and then continue to the next question Save for Later The Yates Corporation manufactures lamps. It has set up the following standards per finished unit for direct Assume that there was no beginning inventory of other direct materials or finished units. During the materials and direct manufacturing labor materials purchased amounted to 99,400 lb, ata total cost of $516,880. Input pris variances are Click the icon to view the standards.) upon purchase. Input-officiency variances are isolated at the time of usage The number of finished units budgeted for January 2017 was 9,940:9,850 units were actually produced Read the mouirements (Click the icon to view actual data.) Requirement 1. Compute the January 2017 price and efficiency variances of direct materials and direct manufacturing labor Let's begin by calculating the actual input at the budgeted price (Round your answers to the nearest while dolar) Actual input Budgeted prio Cost Direct materials (purchases) Direct materials (usage) Direct manufacturing labor Neat determine the formula and calculate the costs for the flexible budget Flexible budget cool x x Direct materials Direct manufacturing labor Now compute the price and efficiency variances for direct materials and direct manufacturing labor. Label each variance as favorable (F) or unfavorable (U). Drine Einen Choose from any list or enter any number in the input fields and then continue to the next question The Yates Corporation manufactures lamps. It has set up the following standards per finished unit for direct Assume that there was no beginning inventory of other direct materials or finished units. During the month, materials and direct manufacturing labor materials purchased amounted to 99,400 lb., at a total cost of $616,880. Input price variances are isolated Click the icon to view the standards.) upon purchase. Input-efficiency variances are isolated at the time of usage. The number of finished units budgeted for January 2017 was 9,940:0.850 units were actually produced. Read the requirements (Click the icon to view actual data) Price Efficiency variances variances Direct materials Direct manufacturing labor Requirement 2. Prepare journal entries to record the variances in requirement 1. Prepare the journal entry for the direct materials price variance (Record debits first, then credits. Exclude explanations from any journal entre) Journal Entry Date Accounts Debit Bredit purg upon purchase materials and direct manufacturing labor: Click the icon to view the standards.) The number of finished units budgeted for January 2017 was 9,940; 9,850 units were actually produced. (Click the icon to view actual data.) Read the requ Journal Entry Date Accounts Debit Credit ow prepare the journal entry for direct manufacturing labor price and efficiency variances. Journal Entry Accounts ate Debit Credit oose from any list or enter any number in the input fields and then continue to the next question. Save for Later Journal Entry Accounts Date Debit Credit Requirement 3. Comment or the January 2017 price and efficiency variances of Yntos Corporation A key point is that likely to be They are o Fluctuations about standards are bound to occur in a fashion. Practically, from a control viewpoint, a standard is a band or range of acceptable performance rather than a single-figure measure Requirement 4. Why might Yates calculate direct materials price variances and direct materials officiency variances with reference to different points in time? The purchasing point is where responsibility for W is found most often. The production point is where responsibility for variances at different points in time to be in with is found most ofron Yates Corporation may calculate Choose from any list or enter any number in the input fields and then continue to the next question Save for Later MacBook Pro % A 7 9 Q W E R. S D F G K !!! (Click the icon to view the The number of finished units budgeted for January 2017 was 9,940; 9,850 units were act (Click the icon to view actual data.) Journal Entry Date Accounts Debit Requirement 3. Comment on the January 2017 price and efficiency variances of Yates Cc A key point is that likely to be and or rang Requirement 4. W all of these efficiency variances are the direct manufacturing labor efficiency variance is the direct materials efficiency variance is direct mate The purchasing po variances at differe. nost often. Choose from any list or enter any number in the input fields and then continue to the Save for Later Read the requirements. Debit Credit ency variances of Yates Corporation. likely to be They are so a standard is a band performance rather than a single-figure m insignificant ce variances and dire variances with reference to different points significant is found most *** - point is where responsibility for Is and then continue to the next question. MAT upon purchase. Input-efficiency variances are isolated at the time ced. Read the requirements. tion. Fluctuations about standa They are so acceptable perfo ? big that they are meaningful small as to be nearly meaningless As efficiency variar is found most e production point i next question. Comment on the January 2017 price and efficiency variances of Yates Corporation. likely to be They are so fashion. Practically, from a control viewpoint, a standard is a band or range of acceptable perform Why might Yates calculate direct materials price variances and direct materials efficiency variano Joint is where responsibility for is found most often. The production point is erent points in time to tie in with efficiency variances y list or enter any number in t price variances ntinue to the next question. 30: 53 F4 2 3 % 5 SO Fluctuations about standards are bound to occur in a performance rather than a single-figure measure. variances with reference to different points in time? point is where responsibility for is found most often. Yates Corporation may calculate efficiency variances price variances Book Pro Corporation manufactures lamps. It has set up the following standards pe and direct manufacturing labor: the icon to view the standards.) er of finished units budgeted for January 2017 was 9,940; 9,850 units were actually produced. the icon to view actual data.) Journal Entry Accounts Debit Credit ent 3. Comment on the January 2017 price and efficiency variances of Yates Corporation. is that fashion. Practically, from a cont ent 4. Why might Yates calculate direc They are ?ceptable pe only the production responsibility area. only the purchasing responsibility area. the different responsibility areas. efficiency va oduction pol asing point is where responsibility for at different points in time to tie in with om any list or enter any number in the input fields and then continue to the next question. Later
