Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath

image text in transcribed
image text in transcribed
Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Kater Direct labor Standard Standard Quantity Standard Rate Unit Cost 1.2 OL. $0.20 per os $ 0.24 10 gal. $0.04 per gal. 0.40 0.8 hr. $9.00 per hr. 7.20 During the month of July. Collin's employees gave 350 baths. The actual results were 700 ounces of shampoo used (cost of $182.00). 6,000 gallons of water used (cost of $420), and labor costs for 240 hours (cost of $2,448). Required: 1. Calculate Suds & Cuts direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts direct labor variances for the month of July. Complete this question by entering your answers in the tabs below. Required Required 2 Calculate Suds & Cuts direct materiais variances for both shampoo and water for the month of July. (Round your answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance).) Shampoo Water Direct Material Price Vrance Direct Material Quantity Variance Required 2 > Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each a bath given: Shampoo Water Direct labor Standard Standard Quantity Standard Rate Unit Cost 1.2 oz. $0.20 per os. $ 0.24 10 gal. $0.04 per gal. 0.40 0.8 hr. $9.00 per hr. 7.20 During the month of July, Collin's employees gave 350 baths. The actual results were 700 ounces of shampoo used (cost of $182 6,000 gallons of water used (cost of $420), and labor costs for 240 hours (cost of $2,448). Required: 1. Calculate Suds & Cuts direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts direct labor variances for the month of July. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Suds & Cuts direct labor variances for the month of July. (Indicate the effect of each variance by selecting "F" for favorable "U" for unfavorable, and "None" for no effect (.e. ero variance), Round your answers to nearest dollar amount.) Direct Labor Rate Variance Direct Labor Efficiency Variance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

blur-text-image

Step: 3

blur-text-image

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

Managerial Accounting Tools For Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Ibrahim M. Aly, Donald E. Kieso

6th Canadian Edition

1119731828, 9781119731825

More Books

Students also viewed these Accounting questions

Question

2 To what extent does their relevance vary internationally?

Answered: 1 week ago

Question

8 What can HRM do to manage diversity?

Answered: 1 week ago

Question

7 How should HRM practitioners approach conflict in the workplace?

Answered: 1 week ago