Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rafe Standard Cost Direct materials • $19.20 6.40 pounds 0.40 hours $ 3.00 per pound $11.00 per hour Direct labor $ 4.40 During the most recent month, the following activity was recorded: a. Twelve thousand four hundred pounds of material were purchased at a cost of $2.90 per pound. b. The company produced only 1,240 units, using 11,160 pounds of material. (The rest of the material purchased remained in raw materials inventory.) c. 596 hours of direct labor time were recorded at a total labor cost of $7,152. Required: Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round Intermediate calculations.) Materials price variance Materials quantity variance Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rafe Standard Cost Direct materials • $19.20 6.40 pounds 0.40 hours $ 3.00 per pound $11.00 per hour Direct labor $ 4.40 During the most recent month, the following activity was recorded: a. Twelve thousand four hundred pounds of material were purchased at a cost of $2.90 per pound. b. The company produced only 1,240 units, using 11,160 pounds of material. (The rest of the material purchased remained in raw materials inventory.) c. 596 hours of direct labor time were recorded at a total labor cost of $7,152. Required: Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round Intermediate calculations.) Materials price variance Materials quantity variance
Expert Answer:
Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
Students also viewed these accounting questions
-
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: During the most recent month, the following...
-
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labour standards for one unit of Zoom follow: The budgeted fixed overhead cost is $15,800 per...
-
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or...
-
Prove that the function x2 x - 1 | f (x) = x 1)(x 2) is differentiable for all r E (-0, 1) U (1, 2) U (2, ). - |
-
Two income statements for Fuller Company are shown below. Prepare a horizontal analysis of Fuller Companys incomestatements. Fuller Company Income Statements For Years Ended December 31 Fees earned...
-
Calculate the margin of error in estimating a population mean for these values: a. n = 30, 2 = .2 b. n = 30, 2 = .9 c. n = 30, 2 = 1.5
-
Allied Industries uses the direct write-off method to account for bad debts. Record the following transactions that occurred during the year: Feb 3 Aug 8 Nov 10 Provided $600 of services to Bill...
-
Bonds of Zello Corporation with a par value of $1,000 sell for $960, mature in 5 years, and have a 7% annual coupon rate paid semiannually. a. Calculate the: i. Current yield. ii. Yield to maturity...
-
4x+5 Find the following for the function f(x) = 2x-9 (a) f(0) (e) - f(x) (b) f(1) (f) f(x+3) (c) f(-1) (d) f(-x) (g) f(3x) (h) f(x+ h) (a) f(0) = 9 (Simplify your answer. Type an integer or a...
-
A fertilizer manufacturing company wants to relocate to Lakeside County. A report from a fired researcher at the company indicates the companys product is releasing toxic by-products. The company...
-
A firm produces a combined 40,000 units from 2 different shifts utilizing 500 combined labor hours and $1500 of raw materials at a labor rate of $15 per hour. Calculate the Labor Productivity...
-
Research the current state of Internet privacy law. Are laws consistent at the national and local levels? If not, what does this mean for firms operating in areas impacted by these laws?
-
The legislation governing the Federal Reserve Board The 1977 Federal Reserve Act, as amended in 1978, 1988, and 2000 governs the behavior of the Federal Reserve. a. In your opinion, does this excerpt...
-
Use a computer-based logic minimization program to design the instruction decoder for a RISC from Table 10-3. Create an HDL model of your design and verify its correctness in simulation. Table 10-3...
-
Using Figure 2-46 as a framework, write a structural Verilog description of the circuit in Figure 2-43. Replace X, Y, and Z with input [2:0] X. Compile and simulate your Verilog model for all eight...
-
Consider the system of Fig. P7.2-5, and let the digital controller be a variable gain K such that D(z) = K. Hence m(kT) = Ke(kT). (a) Write the closed-loop system characteristic equation as a...
-
Suppose there are three types of cars, lemons (L), melons (M), and peaches (P). There is a continuum of buyers and sellers. Potential buyers value lemons at 1,200, melons at 1,800, and peaches at...
-
Question 6.10 Current and deferred tax worksheets and tax entries From the hip Ltd?s statement of profit or loss for the year ended 30 June 2007 and extracts from its statements of financial position...
-
Would a sale of equipment for cash be considered a financing activity or an investing activity? Why?
-
SecuriCorp operates a fleet of armored cars that make scheduled pickups and deliveries in the Los Angeles area. The company is implementing an activity-based costing system that has four activity...
-
The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard labor cost for a motor tune-up is given below: The record showing the...
-
The W10 \(\times 15\) cantilever beam is made of A-36 steel and is subjected to the loading shown. Determine the slope and displacement at its end \(B\). A 3 kip/ft 6 ft. -6 ft B
-
The two bars are pin connected at \(D\). Determine the slope at \(A\) and the displacement at \(D\). \(E I\) is constant. B 212 L2
-
Determine the slope at \(B\) and displacement at \(C . E I\) is constant. W W C02 312
Study smarter with the SolutionInn App