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Discuss the possible causes of unfavorable material price variances, and identify the individual(s) who should be held responsible for these variances.
What variable overhead cost should have been incurred to fi ll the orders for the 140,000 items?
Calculate the total amount of labor hours allowed for the actual output.
Discuss the president's concern about using the result of the engineering study to set the labor standards. What standard would you recommend?
The actual fixed factory overhead was as budgeted. During January, the Weaving Department had standard hours at actual production volume of 31,000 hours.
Compute and compare the actual overhead cost per unit with the expected overhead cost per unit.
Calculate the materials price variance and the materials efficiency variance, as well as the labor price and efficiency variances.
Lane always has a difficult time with the standard-setting process and believes that the benchmark data would be very useful.
Identify the relevant factors in each situation and suggest what Lane should recommend to the controller.
What were the standard machine-hours allowed for the actual production?
Calculate the company's direct materials price and quantity variances for carpeting for April.
What direct labor cost should have been incurred to prepare 4,000 meals? How much does this differ from the actual direct labor cost?
Prepare a memo from Summer Diaz to Sydney Tyson that defines standard costing and outlines its uses and benefits.
What is the normal industry standard for plants to be considered operating at full capacity?
Roe and Adler uses a job cost system and allocates manufacturing overhead based on direct labor hours.
Diane Buswell examined some of the accounting records and reported that Current Designs purchased 1,200 pounds of pellets for this order at a total cost .
Identify whether each is an input or output to the copying process.
Determine the standard direct materials cost per unit of finished product, assuming that there was no inventory of work in process.
Assume that the purchasing agent for the small motors plant purchased a lower-quality raw material from a new supplier.
The materials cost variance report for Nickols Inc. indicates a large favorable materials price variance and a significant unfavorable materials quantity .
Calculate the four conversion cost variances assuming that variable and fixed costs are separated.
Management believes these three measures combine both financial and nonfinancial measures and are thus superior to using just financial measures.
The predetermined overhead rate is $22.00 per direct labor hour. During July, the company incurred 4,100 hours of direct labor at an average rate of $14.30.
The standard operating capacity of Tecate Manufacturing Co. is 1,000 units. A detailed study of the manufacturing data relating to standard production cost.