Please do not give solution in image format thanku Required information[The following information applies to the questions displayed below]A manufactured product has the following information for June.Direct materialsDirect laborOverheadUnits manufacturedStandard Quantity and Cost6 pounds@ $7 per pound3 DLH@ $16 per DLH3 DLH@ $12 per DLHAQ = Actual QuantitySQ = Standard QuantityAP = Actual PriceActual Results47,800 pounds@ $7.20 per pound23,500 hours@ $16.60 per hour$ 290,5007,900 unitsCheck my wCompute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance byselecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) Required informationAP= Actual PriceSP = Standard PriceActual Cost0$00$0Standard Cost,me

Actual quantity is the quantity actually used for producing the product. Standard quantity is the…

A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds @ $7 per pound 3 DLH@ $16 per DLH 3 DLH@ $12 per DLH Direct materials Direct labor Overhead Units manufactured Actual Results 47,800 pounds @ $7.20 per pound 23,500 hours@ $16.60 per hour $ 290,500 7,900 units

A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds @ $7 per pound 3 DLH@ $16 per DLH 3 DLH@ $12 per DLH Direct materials Direct labor Overhead Units manufactured Actual Results 47,800 pounds @ $7.20 per pound 23,500 hours@ $16.60 per hour $ 290,500 7,900 units

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Actual Results 62,900 pounds @ $8.20 per pound 26,500 hours @ $16.50 per hour $ 325,700 8,900 units (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the standard cost card showing standard cost per unit. Direct materials Direct labor Overhead Total S
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds e $7 per pound 2 DLH e $16 per DLH 2 DLH e $12 per DLH Actual Results 44,900 pounds e $7.10 per pound 14,500 hours e $16.40 per hour $ 182,800 7,400 units Direct materials Direct labor Overhead Units manufactured Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds @ $7 per pound 2 DLH @ $17 per DLH 2 DLH @ $11 per DLH Actual Results Direct materials Direct labor 44,300 pounds @ $7.20 per pound 14,300 hours @ $17.40 per hour $ 165,800 7,300 units Overhead Units manufactured Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost Standard Cost
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Actual Results 62,900 pounds @ $8.20 per pound 26,500 hours @ $16.50 per hour 8,900 units $ 325,700 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) AH Actual Hours SH Standard Hours Standard Rate AR Actual Rate SR Actual Cost G < Prev 8 of 8 Next Standard Cost
Sheffield Company had the following department information for the month: Total materials costs Equivalent units of production for materials Total conversion costs Equivalent units of production for conversion costs What is the total manufacturing cost per unit? O $3.20. O $7.90. O $4.70. O $3.63. $47000 10000 $80000 25000
[The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost Actual Results Direct materials 7 pounds @ $7 per pound 58,600 pounds @ $7.20 per pound Direct labor 2 DLH @ $16 per DLH 16,300 hours @ $16.50 per hour Overhead 2 DLH @ $12 per DLH $ 205,500 Units manufactured 8,300 units (1) Prepare the standard cost card showing standard cost per unit.(2) Compute total budgeted cost for June production.(3) Compute total actual cost for June production.(4) Compute total cost variance for June. Compute total budgeted cost for June production. Total budgeted (standard) cost Compute total actual cost for June production. Actual cost Compute total cost variance for June. (Indicate the effect of the variance by selecting…
ces [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 6 pounds @ $8 per pound 3 DLH @$16 per DLH. 3 DLH $12 per DLH Actual Results 52,800 pounds @ $8.10 per pound 25,800 hours @ $16.60 per hour $ 318,500 8,700 units (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Required 4 Prepare the standard cost card showing standard cost per unit. Direct materials Direct labor Overhead Total Required 1 Required 2 >
! Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $9 per pound 3 DLH @ $17 per DLH 3 DLH @ $13 per DLH Actual Results 59,200 pounds @ $9.10 per pound 25,000 hours @ $17.60 per hour $ 334,000 8,400 units Exercise 21-8 (Algo) Standard cost per unit, total budgeted and actual costs, and total cost variance LO P2 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute total budgeted cost for June production. Total budgeted (standard) cost
A department had the following information for the month: Total materials costs P45,000 Conversion cost per unit P3.00 Total manufacturing cost per unit P5.50 What are the equivalent units of production for materials?
! Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 5 pounds @ $7 per pound 3 DLH @ $17 per DLH 3 DLH @ $11 per DLH Actual Results 36,900 pounds @ $7.10 per pound 21,500 hours @ $17.60 per hour $ 247,000 7,300 units Exercise 23-10 (Algo) Direct labor variances LO P3 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost $ 0 0 0 $ 0 Standard Cost
Sharp Company manufactures a product for which the following standards have been set:Standard Quantity Standard Price Standardor Hours or Rate CostDirect materials .............. 3 feet $5 per foot $15Direct labor .................... ? hours ? per hour ?During March, the company purchased direct materials at a cost of $55,650, all of which were usedin the production of 3,200 units of product. In addition, 4,900 hours of direct labor time were worked onthe product during the month. The cost of this labor time was $36,750. The following variances have beencomputed for the month:Direct materials quantity variance .......... $4,500 UTotal direct labor variance ...................... $1,650 FDirect labor efficiency variance ................ $800 URequired:1. For direct materials:a. Compute the actual cost per foot for materials for March.b. Compute the materials price variance and a total variance for materials.2. For direct labor:a. Compute the standard direct labor rate per hour.b.…
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Actual 49, 200 lbs. @ $7.10 per lb. 16,000 hrs. @ $16.50 per hr. $183,400 Direct materials 6 lbs. @ $7 per lb. Direct labor 2 hrs. @ $16 per hr. Overhead Units manufactured 2 hrs. @ $11 per hr. 8,100 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Total cost variance