S11-1 (similar to) 15 Question Help London Confections is known for its rich dark chocolate fudge truffles. London sells its fudge truffles to local retailers. A "unit" of fudge truffles is a 10-pound batch. The standard quantities of ingredients for a batch include 14 cups of sugar, 17 ounces of chocolate chips, 15 ounces of butter, and 18 ounces of evaporated milk. The standard costs for each of the ingredients are as follows: $0.15 per cup of sugar, $0.18 per ounce of chocolate chips, $0.08 per ounce of butter, and $0.04 per ounce of evaporated milk. Calculate the standard direct material cost per batch of fudge truffles Calculate the standard direct material (DM) cost per batch of fudge truffles. (Enter all dollar amounts to two decimal places.) Standard Standard Standard Quantity Price Cost Sugar per cup Chocolate chips per ounce Butter per ounce Evaporated milk per ounce Standard DM cost per batch S11-3 (book/static) Question Help A Cadbury Creme Egg is an egg-shaped chocolate candy that weighs about 35 grams, or a little more than 1.2 ounces. (Click the icon to view additional information.) Assuming that Cadbury uses standard costing in its manufacturing operations, what variance would have been impacted by the decrease in the cost of the chocolate used in the Cadbury eggs? Would this variance have been favorable or unfavorable? What position or department within Cadbury would have been responsible for that variance? The variance would have been impacted by the decrease in the cost of the chocolate and it would have been a variance. The department would have been responsible for the variance because it changed the formula for the eggs. S11-4 (similar to) Question Help Daisy Ceramics produces large planters to be used in urban landscaping projects. A special earth clay is used to make the planters. The standard quantity of clay used for each planter is 19 pounds. The company uses a standard cost of $2.05 per pound of clay. Daisy produced 3,875 planters in May. In that month, 77,500 pounds of clay were purchased and used at the total cost of $155,000 Read the requirements. Requirement 1. Calculate the direct material price variance. Begin by determining the formula for the price variance, then compute the price variance for the direct materials. (Enter the variance as a positive number. Enter currency amounts in the formula to the nearest cent and then round the final variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials) DM price ) = variance ) = S11-6 (similar to) Question Help Cyri Oil performs oil changes. The standard wage rate for oil change technicians is $23 per hour. By analyzing its past records of time spent on oil changes, the company has developed a standard of 24 minutes (or 0.40 hours) per oil change. In July, 1,500 oil changes were performed at Cyri Oil. Oil change technicians worked a total of 305 direct labor hours at an average rate of $25 per hour. Read the requirements. Requirement 1. Calculate the direct labor rate variance. Determine the formula for the rate variance, then compute the rate variance for the direct labor. (Enter the result as a positive number. Label the variance as favorable (F) or unfavorable (U). Enter the currency amount in the formula to the nearest cent, then round the final variance amount to the nearest whole dollar. Abbreviations used: DL = Direct labor.) ) = DL rate variance Silik Industries produced 3,500 tables last month. The standard variable manufacturing overhead (MOH) rate used by the company is $16 per machine hour. Each table requires 0.2 machine hours. Actual machine hours used last month were 730, and the actual variable MOH rate last month was $16.50. Requirements 1. Calculate the variable overhead rate variance. 2. Calculate the variable overhead efficiency variance. Requirement 1. Calculate the variable overhead rate variance. Begin by determining the formula for the variable overhead rate variance, then compute the variable overhead rate variance. (Enter the variance as a positive number. Enter amounts in the formula to the nearest cent and then the final variance amount to the nearest whole dollar. Label the variance as (F) or unfavorable (U).) Variable overhead rate variance ) =
