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Slick Corperation is a small producer of synthetic motor oil. During May, the company produced 5 , 0 0 0 cases of lubricant. Each case
Slick Corperation is a small producer of synthetic motor oil. During May, the company produced cases of lubricant. Each case contains quarts of synthetic oil. To achieve this level of production. Sllek purchased and used gallons of direct materials at a cost of $ It also incurred average direct labor costs of $ per hour for the hours worked in May by its production personnel. Manufacturing overhead for the month totaled $ of which $ was considered flxed. Slick's standard cost information for each case of synthetic motor oil is as follows:$ per caseRequired:a Compute the materials price and quantity variances.b Compute the lebor rate and efficiency variances.c Compute the manufacturing overhead spending and volume variances.d Prepare the journal entries to:
Charge materials as standard to Work in Process.
Charge direct labor at standard to Work in Process.
Charge manufacturing overhead at standard to Work in Prkyass.
Transfer the cost of the cases of synthetic motor oil pitduced in May to Finished Goods.
Close any over or underapplied overhead to cost of goods sold.
Complete this question by entering your answers in the tabs below.
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Requires D
Compute the matesials price and quantity variances.
Rote: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter for no effect e zero variance Do not round intermedlate calculations and round your final answers to the nearest whole dollar amount.
tableAalerlals price verilance,$FavorableMaterinale quantity variasuce,$Unfayorable
please help with abcd
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