Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 13, 2024

show all work and Computations and if favorable or unfavorable. Standard Cost Data per 1 Unit Quantity Price Direct Labor 2 hrs $4.00/hr Actual Data:

show all work and Computations and if favorable or unfavorable.

Standard Cost Data per 1 Unit Quantity Price Direct Labor 2 hrs $4.00/hr Actual Data: Units produced 20 20 Direct Labor 30 hrs; total cost $123 a) Compute the rate variance, efficiency variance, total direct labor variance. Show all computations. b) Prepare the journal entry using standard costing.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

a Compute the variances 1 Rate Variance Actual rate Total cost Actual hours 123 30 hours 41... 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

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

Recommended Textbook for

Cost management a strategic approach

Authors: Edward J. Blocher, David E. Stout, Gary Cokins

5th edition

73526940, 978-0073526942

More Books

Students also viewed these Accounting questions

Question

LO2 22. Calculating Project Cash Flows and NPV Pappy's Potato has come up with a new Pet (they are freeze-dried to last longer). Pappy's paid $120,000 for a marketing survey to determine the...

Answered: 1 week ago

Question

14. The Federal Reserve Districts are a product of: a. economic and political forces as well as population distribution b. only economic forces that existed at the time of the Federal Reserve Act c....

Answered: 1 week ago

Question

★★★★★

For each of the following independent cases (A to E), compute the missing values in the table: Case Prime Cost Conversion Cost Direct Materials Direct Manufacturing Labor Overhead Total Manufacturing...

Answered: 1 week ago

Question

★★★★★

Compute the Regular Pay, Overtime Rate, Overtime Pay, and Gross Pay for each employee. Employees are paid weekly. Filing Employee Status Henry Smith Parker Liam Melanie Total S S S M S Hours Pay...

Answered: 1 week ago

Question

★★★★★

Treetop Pharmaceuticals (TP) researches, develops, and produces over- the-counter drugs. During the year, it acquired 100% of the net assets of Treeroot Drugs Limited (TDL) for $200 million. The fair...

Answered: 1 week ago

Question

★★★★★

Journalize the entries to record the following selected held-to-maturity investment transactions for ABC Company: 1. Purchased for cash $16,000,000 of Cummins Corporation eight-year, 6% bonds at 96.9...

Answered: 1 week ago

Question

★★★★★

=+ In a published study, Rauscher, Shaw, and Ky reported that when students were given a spatial reasoning section of a standard IQ test, those who listened to Mozart for 10 minutes improved their...

Answered: 1 week ago

Question

★★★★★

Consider the following transactions that occurred in May 2012 for High Roller, Inc. May 1 Purchased $3,000 of inventory from P&M, terms 1/10, n/20. 3 Sold $3,500 of goods to Frames R Us, Inc., terms...

Answered: 1 week ago

Question

★★★★★

The following information for Show Me, Inc. relates to its bank accounts as of June 30: The June 30 balance shown on the bank statement is $2,898. Outstanding checks at June 30 totaled $165. A...

Answered: 1 week ago

Question

★★★★★

Complete the "Rate Category" column on the "Airline" worksheet. After completing the column do exploratory analysis of the airline data to determine how many Airlines fall under Category A ? Use the...

Answered: 1 week ago

Question

★★★★★

Walter Company has the following information for the month of March: Cash balance, March 1 Collections from customers Paid to suppliers Manufacturing overhead Direct labor Selling and administrative...

Answered: 1 week ago

Question

★★★★★

Q1. Gourmet has PKR150 million in sales revenue with PKR90 million in cost of goods sold. It has selling and administrative expenses of PKR10, pays annual taxes in the amount of PKR10 and has...

Answered: 1 week ago

Question

★★★★★

Imagine you head a large agency such as the Department of Education (DoE). Based on your experience with the CITI certification process and your class readings, outline a protocol for approving...

Answered: 1 week ago

Question

★★★★★

Using the P-O-L-C Framework, answer the following questios: 600 wrds.. Take one item from each section that you could relate to you and discuss how you could use in your life right now.and write the...

Answered: 1 week ago

Question

★★★★★

Fig. H 4.39 Determine the forces bars 1, 2 and 3 of the plane truss loaded and supported (Ans. S S2 S3=-30 a/2h) as shown in Fig. I. = C aaaaaa B aga Fig. 1 Q

Answered: 1 week ago

Question

★★★★★

Neo bank(not physical, only internet banking) has a cyber threat about fake ID card issue. Q1. What is high level plan of possible options in terms of focus and investment options as part of both...

Answered: 1 week ago

Question

★★★★★

On January 1, Jack Rip-off Corporation reported Raw Materials Inventory of $45,500 and Raw Materials Inventory of $57,500 on January 31. The company reported the following transactions during the...

Answered: 1 week ago

Question

★★★★★

Why do markets typically lead to an efficient outcome for buyers and sellers?

Answered: 1 week ago

Question

★★★★★

=+b. In the long run, what proportion of your total daily waiting times will be at most 3 min? At least 7 min? At least 4 min? Between 4 min and 7 min?

Answered: 1 week ago

Question

★★★★★

=+23. Extensive experience with fans of a certain type used in diesel engines has suggested that the exponential distribution with 5 .00004 provides a good model for time until failure (hr).

Answered: 1 week ago

Question

★★★★★

=+c. What value separates the longest 10% of your daily waiting times from the remaining 90%?

Answered: 1 week ago

Previous Question Next Question