Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Saskatewan Can Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by
Saskatewan Can Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by the production-engineering staff and the controller.
Saskatewan Can Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by the production-engineering staff and the controller. Direct Labor: Quantity, 0.21 hour Rate, $10.50 per hour Direct Material: Quantity, 4 kilograms Price, $0.52 per kilogram Actual material purchases amounted to 185,600 kilograms at $0.60 per kilogram. Actual costs incurred in the production of 32,000 units were as follows: Direct labor: Direct material: $77,088 for 7,040 hours $ 85,440 for 142,400 kilograms Required: Fill in the amounts in the tables below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Fill in the amounts in the tables below. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select " variance). Round "per kilogram" to 2 decimal places.) Direct-Material Price and Quantity Variances Projected Material Cost Actual Standard Quantity Price Standard Material Cost Standard Standard X Quantity Price X Actual Material Cost Actual x Actual Price Quantity 142,400 $ 0.52 kilograms used per kilogram kilograms used per kilogram kilograms allowed per kilogram $ 74,048 $ 0 $ 0 $ 85,440 Direct-material price variance Direct-material quantity variance Direct-material variance Required 1 Required 2 > Required: Fill in the amounts in the tables below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Fill in the amounts in the tables below. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance). Round "per kilogram" to 2 decimal places.) Direct-Material Purchase Price Variance Actual Material Cost of Purchases Projected Material Cost of Purchases Actual Actual Actual Standard X X Quantity Price Quantity Price kilograms purchased per kilogram kilograms purchased per kilogram $ 0 $ 0 Direct-material purchase price variance Required: Fill in the amounts in the tables below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Fill in the amounts in the tables below. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "No variance). Round "per hour" to 2 decimal places.). Direct-Labor Rate and Efficiency Variances Projected Labor Cost Actual Labor Cost Standard Labor Cost Standard X Hours Standard Rate Actual Hours x Actual Rate Actual Hours Standard Rate hours used per hour hours used per hour hours allowed per hour $ 0 $ 0 $ 0 Direct-labor rate variance Direct-labor efficiency variance Direct-labor variance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started