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 Cost $17.25 Direct materials Standard Price or Rate $ 2.50 per pound $13.50 per hour 6.90 pounds 0.50 hours Direct labor $6.75 During the most recent month, the following activity was recorded: a. Thirteen thousand four hundred pounds of material were purchased at a cost of $2.40 per pound. b. The company produced only 1,340 units, using 12,060 pounds of material. (The rest of the material purchased remained in raw materials inventory.) c. 770 hours of direct labor time were recorded at a total labor cost of $9,240. 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.) Matenals 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 Cost $17.25 Direct materials Standard Price or Rate $ 2.50 per pound $13.50 per hour 6.90 pounds 0.50 hours Direct labor $6.75 During the most recent month, the following activity was recorded: a. Thirteen thousand four hundred pounds of material were purchased at a cost of $2.40 per pound. b. The company produced only 1,340 units, using 12,060 pounds of material. (The rest of the material purchased remained in raw materials inventory.) c. 770 hours of direct labor time were recorded at a total labor cost of $9,240. 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.) Matenals price variance Materials quantity variance
Expert Answer:
Answer rating: 100% (QA)
Materials price Actual quantity X Actual price 13400 x 240 250 8 13400 ... View the full answer
Related Book For
Managerial Accounting
ISBN: 9781260247787
17th Edition
Authors: Ray Garrison, Eric Noreen, Peter 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 labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or...
-
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...
-
At the beginning of Section 12.6, it was noted that given the CBC MAC of a oneblock message \(X\), say \(T=\operatorname{MAC}(K, X)\), the adversary immediately knows the CBC MAC for the two-block...
-
The following transactions occurred during Bono Exterminators first month of business: a. Joe Bono started a business, Bono Exterminators, by contributing $6,200 cash on January 1, 2010, in exchange...
-
A power transmission line carries current from a 6000-V generator to three loads, A, B, and C. The loads are located at 4, 7, and 10 km from the generator and draw 50, 30, and 100 A, respectively....
-
Proper recording within general ledger control accounts does not necessarily mean that transactions are posted accurately to individual vendor accounts. What controls can management institute to...
-
Sharp Company has $15,000 to invest. The company is trying to decide between two alternative uses of the funds as follows: Sharp Company uses a 16% discount rate. Required: (Ignore income taxes.)...
-
1. A train moving 1.5 hrs travels 255 km travels east and then 488 km [20 W of N] . Algebraically find the train average velocity for the trip? 2. A captain of small boat has determined that in 4 hrs...
-
A department store maintains data on customers, products, and purchase records in three tables: CUSTOMER, PRODUCT, and PURCHASE. The store manager wants to find the average price of all distinct...
-
A feed rate of 200 gpm of a hydrocarbon mixture at 70C is being pumped from a tank at 1 atm abs pressure to a distillation tower. The density of the feed is 46.8 lb./ft' and its vapor pressure is...
-
Simplify the following. $3942 219 1 +0.28 x 365 $3942 219 1+0.28x 365 = S $ (Type an integer or a decimal.)
-
in triangle ABC, triangle ACD and triangle AED are right angled triangles AB=3cm,BC=4cm,CD=12cm and EAD =20\deg . calculate the length of ED 2 answers
-
Two chords cross through a circle and intercept one another at a point on the circumference of the circle, forming an inscribed angle. The measure of the intercepted arc of the angle is 142\deg ....
-
A rhombus with side 5 has an area of 144 . What is the sum of the lengths of the diagonals?
-
differentiation : xy + xy - x^3 - y^3 + 16 = 0 in its simplest form. Hence find the gradient of the normal to the curve at the point (1,3).
-
Provide a program to read a .DBF version 3 file and output the results to a .CSV file that can be read by MS-Excel. No library functions can be used other than the standard I/O routines. I can supply...
-
The first national bank pays a 4% interest rate compound continuously. The effective annual rate paid by the bank is __________. a. 4.16% b. 4.20% c. 4.08% d. 4.12%
-
Refer to the financial statements for Rusco Company in Problem 1513. Because the Cash account decreased so dramatically during this year, the companys executive committee is anxious to see how the...
-
What is a master budget? Briefly describe its contents.
-
The Shirt Works sells a large variety of tee shirts and sweatshirts. Steve Hooper, the owner, is thinking of expanding his sales by hiring high school students, on a commission basis, to sell...
-
A construction engineer has to inspect 5 construction sites in a 2-day inspection schedule. He may or may not be able to visit these sites in two days. He will not visit any site more than once. (a)...
-
An explosion in an LNG storage tank in the process of being repaired could have occurred as the result of static electricity, malfunctioning electrical equipment, an open flame in contact with the...
-
What conditions for the binomial distribution, if any, fail to hold in the following situations? (a) For each of a company's eight production facilities, record whether or not there was an accident...
Study smarter with the SolutionInn App