If an amount is zero, enter"0" and select neither from the dropdown. 1. Calculate the materials price variances and materials usage variances for granite and for glue for the past 6 months. Granite Materials price variance Materials usage variance Glue Materials price variance Materials usage variance 2. Calculate the labor rate variances and labor efficiency variances for cutting labor and for installation labor for the past 6 months. Cutting Labor Labor rate variance Labor efficiency vanance Installation Labor Labor rate variance Labor efficiency vanance 3. Conceptul Connection: Would it be worthwhile for Charlene to establish standards for atypical jobs (such as those with more than one on normal 10) Ildu been using. They worry because natural flaws in the grand uy how much granite will be used on a particular job. In addition, granite can be easily broken, meaning that Tomor Ton need to start over with a new one. Sometimes the improperly cut pieces could be used for smaller installations, sometimes not. All the certified public accounting firm headed by Charlene Davenport. Charlene listened to their concerns and suggested that it might be by setting up a standard costing system. Charlene reviewed the invoices pertaining to a number of Tom and Tony's previous jobs to determine the average amount of granite al She then updated prices on both materials to reflect current conditions. The standards she developed for one square foot of counter i Granite, per square foot $50.00 Glue (10 oz. @ $0.15) 1.50 Direct labor hours: Cutting labor (0.10 hr. @ $15) 1.50 Installation labor (0.25 hr. @ $25) These standards assumed that one seamless counter requires one sink cut (the space into which the sink will fit) as well as cutting the available. 6.25 Charlene tracked the actual costs incurred by Tom and Tony for granite installation for the next 6 months. She found that they complet 32 square feet of granite installed in each one. The following information on actual amounts used and cost was gathered: Granite purchased and used (1,640 sq. ft.) Glue purchased and used (16,000 oz.) Actual hours cutting labor Actual hours installation labor $82,348 $2,560 200 430 The actual wage rate for cutting and installation labor remained unchanged from the standard rate. Tom Belford and Tony Sorrentino own a small business devoted to kitchen and bath granite installations. Recently, building contractors have insisted on up front bid prices for a house rather than the cost-plus system that Tom and Tony had been using. They worry because natural flaws in the grande make it impossible to tellin advance exactly how much granite will be used on a particular job. In addition, granite can be easily broken, meaning that Tom or Tony could ruin a slab and would need to start over with a new one. Sometimes the improperly cut pieces could be used for smaller installations, sometimes not. All their accounting is done by a local certified public accounting firm headed by Charlene Davenport. Charlene listened to their concerns and suggested that it might be time to implement tighter controls by setting up a standard costing system. Charlene reviewed the invoices pertaining to a number of Tom and Tony's previous jobs to determine the average amount of granite and glue needed per square foot. She then updated prices on both materials to reflect current conditions. The standards she developed for one square foot of counter installed were as follows: 1.50 Granite, per square foot $50.00 Glue (10 oz. $0.15) Direct labor hours: Cutting labor (0.10 hr. 515) Installation labor (0.25 hr. 525) These standards assumed that one seamless counter reyres one sink cut the space into which the sink will fit) as well as cutting the counter to fit the space available. Charlene tracked the actual costs incurred by Tom and Tony for granite installation for the next 6 months. She found that they completed 50 jobs with an average of 32 square feet of granite installed in each one. The folowing information on actual amounts used and cost was gathered: Granite purchased and used (1.640 sq.ft) $82.348 $2.560 Glue purchased and used (16,000 42.) 200 Actual hours cutting labor Actual hours to abor The actual wage rate for cutting and instalation labor remained unchanged from the standard rate If an amount is zero, enter"0" and select neither from the dropdown. 1. Calculate the materials price variances and materials usage variances for granite and for glue for the past 6 months. Granite Materials price variance Materials usage variance Glue Materials price variance Materials usage variance 2. Calculate the labor rate variances and labor efficiency variances for cutting labor and for installation labor for the past 6 months. Cutting Labor Labor rate variance Labor efficiency vanance Installation Labor Labor rate variance Labor efficiency vanance 3. Conceptul Connection: Would it be worthwhile for Charlene to establish standards for atypical jobs (such as those with more than one on normal 10) Ildu been using. They worry because natural flaws in the grand uy how much granite will be used on a particular job. In addition, granite can be easily broken, meaning that Tomor Ton need to start over with a new one. Sometimes the improperly cut pieces could be used for smaller installations, sometimes not. All the certified public accounting firm headed by Charlene Davenport. Charlene listened to their concerns and suggested that it might be by setting up a standard costing system. Charlene reviewed the invoices pertaining to a number of Tom and Tony's previous jobs to determine the average amount of granite al She then updated prices on both materials to reflect current conditions. The standards she developed for one square foot of counter i Granite, per square foot $50.00 Glue (10 oz. @ $0.15) 1.50 Direct labor hours: Cutting labor (0.10 hr. @ $15) 1.50 Installation labor (0.25 hr. @ $25) These standards assumed that one seamless counter requires one sink cut (the space into which the sink will fit) as well as cutting the available. 6.25 Charlene tracked the actual costs incurred by Tom and Tony for granite installation for the next 6 months. She found that they complet 32 square feet of granite installed in each one. The following information on actual amounts used and cost was gathered: Granite purchased and used (1,640 sq. ft.) Glue purchased and used (16,000 oz.) Actual hours cutting labor Actual hours installation labor $82,348 $2,560 200 430 The actual wage rate for cutting and installation labor remained unchanged from the standard rate. Tom Belford and Tony Sorrentino own a small business devoted to kitchen and bath granite installations. Recently, building contractors have insisted on up front bid prices for a house rather than the cost-plus system that Tom and Tony had been using. They worry because natural flaws in the grande make it impossible to tellin advance exactly how much granite will be used on a particular job. In addition, granite can be easily broken, meaning that Tom or Tony could ruin a slab and would need to start over with a new one. Sometimes the improperly cut pieces could be used for smaller installations, sometimes not. All their accounting is done by a local certified public accounting firm headed by Charlene Davenport. Charlene listened to their concerns and suggested that it might be time to implement tighter controls by setting up a standard costing system. Charlene reviewed the invoices pertaining to a number of Tom and Tony's previous jobs to determine the average amount of granite and glue needed per square foot. She then updated prices on both materials to reflect current conditions. The standards she developed for one square foot of counter installed were as follows: 1.50 Granite, per square foot $50.00 Glue (10 oz. $0.15) Direct labor hours: Cutting labor (0.10 hr. 515) Installation labor (0.25 hr. 525) These standards assumed that one seamless counter reyres one sink cut the space into which the sink will fit) as well as cutting the counter to fit the space available. Charlene tracked the actual costs incurred by Tom and Tony for granite installation for the next 6 months. She found that they completed 50 jobs with an average of 32 square feet of granite installed in each one. The folowing information on actual amounts used and cost was gathered: Granite purchased and used (1.640 sq.ft) $82.348 $2.560 Glue purchased and used (16,000 42.) 200 Actual hours cutting labor Actual hours to abor The actual wage rate for cutting and instalation labor remained unchanged from the standard rate