Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are not *ideal at this point, but the management is working

image text in transcribed
image text in transcribed
Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are not *ideal at this point, but the management is working toward that as a goal . At present, the company uses the following standards. Cost Item Metal Plastic Rubber Materials Per unit 1 lb. 12 oz. 63c per lb. $1.00 per Ib. 88 per lb. 4 oz. Direct labor Item Per unit Cost Labor 15 min $9.00 per hr Predetermined overhead rate based on direct labor hours - $3.84 The January figures for purchasing, production and labor are: The company purchased 221.800 pounds of raw materials in January at a cost of 78c a pound. Production used 221,800 pounds of raw materials to make 112.000 units in January Direct labor spent 18 minutes on each product at a cost of $8.80 per hour Overhead costs for January totaled $37,559 variable and $75.000 fixed We the following questions Mandados 125 Materials private 5 Textbook and Media What is the main perunda 125 Materiali Tenbook and Medla What is the total material varlanen! Round per unit collates to decimales 125 and find emer to declined 125) Total matras variance 5 Tedbook and Media What is the labor riceverance Bound per unit tellution 2 decimal places 1.3 astfel decim, 1953 Labore 5 Textbook and Media What is the bottom 125 * 125 Lumity 3 What is the total stor variance and per un comedecimos 125 and findes 125) Totaltabore 5 cTextbook and Media What is the total whead various promedio 125 and 125 Total covered 5

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

Financial Accounting, Enhanced

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

11th Edition

1119594596, 9781119594598

More Books

Students also viewed these Accounting questions