Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

X Data table Units completed 6,300 units Direct material purchases 200,000 kilograms Cost of direct material purchases $ 340,000 Actual direct manufacturing labour hours 31,000

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
X Data table Units completed 6,300 units Direct material purchases 200,000 kilograms Cost of direct material purchases $ 340,000 Actual direct manufacturing labour hours 31,000 hours Actual direct labour cost $ 347.200 Direct materials efficiency variance $ 12,000 U There were no beginning inventories. Print DoneHall Moul manufactures libreglass paddleboards. The standard cost of direct materi Requirement 1. Compute direct manufacturing labour variances for July. Label each variance as favourable (F) or unfavourable (U). Rate variance F Efficiency variance U Flexible-budget variance U Requirement 2. Compute the actual number of kilograms of direct materials used in Begin by computing the number of kilograms represented by the direct materials efficEfficiency variance U Flexible-budget variance U Requirement 2. Compute the actual number of kilograms of direct materials used in production in July. Begin by computing the number of kilograms represented by the direct materials efficiency variance. Determine the formula, Variance (kilograms) Next compute the budgeted kilograms allowed for the output achieved. Determine the formula, and then complete the comp X Kilograms allowed X Determine the formula to compute the actual kilograms of direct materials used in production in July. Actual kilograms us Half Moon actually used kilograms of direct materials for productionX Kilograms allowed X Determine the formula to compute the actual kilograms of direct materials used in production in July. Actual kilograms used Half Moon actually used kilograms of direct materials for production in July. Requirement 3. Calculate the actual price per kilogram of direct materials purchased. Determine the formula, and then complete the computation. (Round your answer to the nearest cent.) Cost of direct material purchases Direct material purchases (kilograms) Actual price per kilogram 340000 200000 1.7 Requirement 4. Calculate the direct materials rate variance. Rate variance 1.7)*200000=... F

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

0130674842, 978-0130674845

Students also viewed these Accounting questions