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Chapter 23 Homework {Application} Standard Direct Materials Cost per Unit Crazy Delicious Inc. produces chocolate bars. The primaryr materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (2,6?1 bars} are as follows: Ingredient Quantity Price Cocoa 570 lbs. $0.40 per lb. Sugar 180 lbs. $0.60 per lb. Milk 150 gal. $1.50 per gal. Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent. Feedback ' e " Ch eck My Work Remember the process discussed in chapter for calculating standard direct materials cost per unit. Check My Work Next ) Assignment Score: 0.0% All work saved. Submit Assignment for Grading Chapter 23 Homework {Application} Standard Product Cost Atlas Furniture Company manufactures designer home furniture. Atlas uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unnished dining room table are as follows: Direct labor: standard rate $17.00 per hr. standard time per unit 4 hrs. Direct materials {oak}: standard price $11.50I per bd. ft. standard quantity 1? bd. ft. Variable factory overhead: standard rate $3.20 per direct labor hr. Fixed factoryr overhead: standard rate $1.20 per direct labor hr. a. Determine the standard cost per dining room table. If required, round your answer to two decimal places. a b. A standard cost system provides Atlas Furniture Company's management a cost control tool using the principle of V . Using this principle, V cost deviations from standards can be investigated and co rrected . Check My Work ( Previous Next ) Assignment Score: 0.0% All work saved. Submit Assignment for Grading Chapter 23 Homework (Application) Direct Materials Variances The following data relate to the direct materials cost for the production of 1,900 automobile tires: Actual: 51,400 lbs. at $1.85 per lb. Standard: 50,400 lbs. at $1.90 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance b. The direct materials price variance should normally be reported to the . When lower amounts of direct materials are used because of production efficiencies, the variance would be reported to the . When the favorable use of raw materials is caused by the purchase of higher-quality raw materials, the variance should be reported to the Check My Work (Previous Next Assignment Score: 0.0% All work saved. Save and Exit Submit Assignment for GradingChapter 23 Homework {Application} Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (2,300 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 3,800 lbs. $0.40 per lb. Vinegar 210 gal. 2.40 per gal. Corn syrup 18 gal. 8.90 per gal. Salt 84 lbs. 2.20 per lb. The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that the actual quantities of materials For batch 08-99 were as follows: 4,000 lbs. of tomatoes 9 202 gal. ofyinegar 19 gal. of corn :5pr 83 lbs. of salt a. Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent. _ Standard Cost Ingredlent per Batch whole tomatoes $:l Vinegar :] Co rn syrup :1 :l Salt cuanrlanl Ilnil' mnfnriah: r'ncl' nor nnllnrl .'i: Ch eck My W0 rk Assignment Score: 0.0% All work saved. ( Previous Next ) Submit Assignment for Grading Chapter 23 Homework (Application) Direct Labor Variances The following data relate to labor cost for production of 4,600 cellular telephones: Actual: 3,090 hrs. at $15.00 Standard: 3,040 hrs. at $15.20 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance Time variance Total direct labor cost variance b. The employees may have been less-experienced or poorly trained, thereby resulting in a labor rate than planned. The lower level of experience or training may have resulted in efficient performance. Thus, the actual time required was than standard. Check My Work (Previous Next Assignment Score: 0.0% All work saved. Save and Exit Submit Assignment for GradingChapter 23 Homework {Application} 930:: Shaw Me How . Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures Faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 50 employees. Each employee presently provides 35 hours of labor per week. Information about a production week is as follows: Standard wage per hour $12.00 Standard labor time per unit 20 min. Standard number of lbs. of brass 1.9 lbs. Standard price per lb. of brass $12.25 Actual price per lb. of brass $12.50 Actual lbs. of brass used during the week 11,?42 lbs. Number of units produced during the week 6,000 Actual wage per hour $12.36 Actual hours for the week (50 employees x 35 hours) 1,750 0 Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit Direct labor standard cost per unit Total standard cost per unit M b. Determine the direct materials price variance, direct materials quantity variancer and total direct materials cost variance. Round your answers to the nearest whole dollar. Enter a favorable variance as a negative number using a minus sign and an unfavovable variance as a positive number. Direct Materials Price Variance $l:| V Direct Materials Quantity Variance $l:| V Total Direct Materials Cost Variance $l:| V c. Determine the direct labor rate variancer direct labor time variance, and total direct labor cost variance. Round your answers to the nearest whole dollar. Enter a favovable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Labor Rabe Variance E V Direct LaborTIme Variance Sil: V Total Direct Labor Cost Variance E V Check My Work Assignment Score: 0.0% All work saved