Question: I need help exercise 25-1- 25-2 - 25-3 Do it! Review Compute standard cost. (SO 3) Compute materials variance. (S0 4) Compute labor and manufacturing
Do it! Review Compute standard cost. (SO 3) Compute materials variance. (S0 4) Compute labor and manufacturing overhead variances (SO 4, 5) Match balanced scorecard perspectives and their objectives (SO 8) Do it 25-1 Saito Company accumulated the following standard cost data concerning product I-Tal. Materials per unit: 2 pounds at $5 per pound Labor per unit: 0.2 hours at $14 per hour Manufacturing overhead: Predetermined rate is 125% of direct labor cost Compute the standard cost of one unit of product I-Tal. Do It! 25-2 The standard cost of product 999 includes 2 units of direct materials at $6.00 per unit. During August. the company bought 29,000 units of materials at $6.20 and used those materials to produce 15.000 units. Compute the total. price, and quantity variances for materials. Do it 25-3 The standard cost of product 2525 includes 2 hours of direct labor at $14.00 per hour. The predetermined overhead rate is $21.00 per direct labor hour. During July, the company incurred COO hours of direct labor at an average rate of $14.40 per hour and $81300 of manufacturing overhead costs. It produced 2,000 units. (a) Compute the total, price, and quantity variances for labor. (b) Compute the total overhead variance. Do It! 25-4 Indicate which of the four perspectives in the balanced scorecard is most likely associated with the objectives that follow. 1. Ethics violations. 2. Credit rating. 3. Customer retention. 4. Stockouts. 5. Reportable accidents. 6. Brand recognition. Exercises
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