Score: 0 of 30 pts 5 of 5 (1 complete P7-41 (similar to) On May 1, 2017, Bailey Company began the manufacture of a new paging machine known as Dandy. The company installed a standard costing system to account for manufacturing costs. The standard costs for a unit of Dandy and other information follow: (Click the icon to view the information) Actual show beginn Read 1. Compute the standard direct manufacturing labor-hours allowed for actual output produced (Enter rates to two de Standard direct manuf. labor-hours allowed for actual output produced Choose from any drop-down list and then click Check Answer bor- Data Table The standard costs for a unit of Dandy follow: $ Direct materials (3 lb. at $4 per lb.) Direct manufacturing labor (1/2 hour at $18 per hour) Manufacturing overhead (80% of direct manufacturing abor costs) 12.00 9.00 7.20 $ 28.20 The following data were obtained from Bailey's records for the month of May: CH Debit . Credit Revenues 165,000 57,400 Accounts payable control (for May's purchases of direct materials) Direct materials price variance Direct materials efficiency variance S 3,100 2.900 Print Done whol Data Table Direct manufacturing labor (1/2 hour at $18 per hour) 9.00 7.20 Manufacturing overhead (80% of direct manufacturing labor costs) $ 28.20 The following data were obtained from Bailey's records or the month of May: Debit Credit $ 165,000 57,400 $ Revenues Accounts payable control (for May's purchases of direct materials) Direct materials price variance Direct materials efficiency variance Direct manufacturing labor price variance Direct manufacturing labor efficiency variance 3,100 2,900 1,600 2.300 Print Done hours alld Jo the i Requirements hy Compute each of the following items for Bailey for the month of May. Show your computations by first selecting the formula to compute the amount then entering the amounts in the formula and solving for your answer. 1. Standard direct manufacturing labor-hours allowed for actual output produced 2. Actual direct manufacturing labor-hours worked 3. Actual direct manufacturing labor wage rate 4. Standard quantity of direct materials allowed (in pounds) 5. Actual quantity of direct materials used in pounds) 6. Actual quantity of direct materials purchased (in pounds) 7. Actual direct materials price per pound eck Ans Print Done Score: 0 of 30 pts 5 of 5 (1 complete P7-41 (similar to) On May 1, 2017, Bailey Company began the manufacture of a new paging machine known as Dandy. The company installed a standard costing system to account for manufacturing costs. The standard costs for a unit of Dandy and other information follow: (Click the icon to view the information) Actual show beginn Read 1. Compute the standard direct manufacturing labor-hours allowed for actual output produced (Enter rates to two de Standard direct manuf. labor-hours allowed for actual output produced Choose from any drop-down list and then click Check Answer bor- Data Table The standard costs for a unit of Dandy follow: $ Direct materials (3 lb. at $4 per lb.) Direct manufacturing labor (1/2 hour at $18 per hour) Manufacturing overhead (80% of direct manufacturing abor costs) 12.00 9.00 7.20 $ 28.20 The following data were obtained from Bailey's records for the month of May: CH Debit . Credit Revenues 165,000 57,400 Accounts payable control (for May's purchases of direct materials) Direct materials price variance Direct materials efficiency variance S 3,100 2.900 Print Done whol Data Table Direct manufacturing labor (1/2 hour at $18 per hour) 9.00 7.20 Manufacturing overhead (80% of direct manufacturing labor costs) $ 28.20 The following data were obtained from Bailey's records or the month of May: Debit Credit $ 165,000 57,400 $ Revenues Accounts payable control (for May's purchases of direct materials) Direct materials price variance Direct materials efficiency variance Direct manufacturing labor price variance Direct manufacturing labor efficiency variance 3,100 2,900 1,600 2.300 Print Done hours alld Jo the i Requirements hy Compute each of the following items for Bailey for the month of May. Show your computations by first selecting the formula to compute the amount then entering the amounts in the formula and solving for your answer. 1. Standard direct manufacturing labor-hours allowed for actual output produced 2. Actual direct manufacturing labor-hours worked 3. Actual direct manufacturing labor wage rate 4. Standard quantity of direct materials allowed (in pounds) 5. Actual quantity of direct materials used in pounds) 6. Actual quantity of direct materials purchased (in pounds) 7. Actual direct materials price per pound eck Ans Print Done