Question: Moving to another question will save this response. Question 3 The follow ag standard costs per unit, of one product, have been taken from the

Moving to another question will save this response. Question 3 The follow ag standard costs per unit, of one product, have been taken from the records of Bahrain Company: Direct materials 4 kgs at $6 per kg Direct labor 2 hours at $20 per hour Actual data for last month: Units produced: 20,000 Direct materials used: 70,000 kgs Direct labor hours: 44,000 Direct labor rate per hour: $18 Direct material price: $8 per kg Required: Direct materials purchased: 200,000 kgs (a) Compute the price and efficiency variances for direct materials and direct labor. Direct material price variance to be calculated at the time of purchase. (5 marks) (b) Prepare the journal entries to record the price and efficiency variances for direct materials and direct labor. (5 marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Moving to another question will save the response Question 2 The following standard costs per unit, of one product, have been taken from the reconds of Bahrain Company: Direct materials 4 kgs at $6...

chanced you to the whermore the men hement votre intot Costi 44 $3402 00 100 more 13 The tantos TUC-AC Ach. To find the cost to build one or multiple untee the above tables and match the quality of...

L&Moving to another question will save this response. Question 12 The following standard costs per unit, of one product, have been taken from the records of Bahrain Company: Direct materials 4 kgs at...

Remaining Time: 1 hour. 58 minutes, 15 seconds. Question Completion Status: 1 2 3 Moving to another question will save this response Question 3 of 4 Question 3 10 points San Ant Bahrain Rubber...

Questions Slow Gro Company makes plant food. The product is made in a single processing department Direct materials are added at the start of the processo direct labore et added evenly throughout the...

_Chrome File Edit View History Bookmarks People Window Help 6 0 AND $ 7 34% ^ [ Sat 6 : 24 PM Q Q .00 my Binghamton* X| } Exam # 1 - Spring 2019 - Manas X| \\\\} Take Test : Exam # 1 - Short Ans X| C...

Moving to another question will save this response. Question 5 8 points Save Answer Eleen Company in Ningbo uses activity-based costing. The company produces two products: USB flashes 32G and 64G....

I only need the answer. thank you The production manager for Oculus virtual reality headsets is developing an aggregate plan for the next 6 months. The headsets require workers with specialized...

A French economist and engineer Jules Dupit introduced the concept of CBA in his article in 1848. After this date, a famous economist Alfred Marshall formalized this approach. The U.S. Army Corps of...

Solve Example 15.14 for PL = 0.12 atm and an interstitial velocity during desorption that corresponds to the use of 44.5% of the product gas from the adsorption step.

The entry to close Management Fees Revenue would be (5 Points) a. Management Fees Revenue does not need to be closed out b. Dr. Retained Earnings Cr. Management Fees Revenue c. Dr. Management Fees...

To evaluate the effect of the abandonment option on each firm, we conduct sensitivity analysis for a plausible worst-case scenario. We collect the following data: Worst Case (25%) Most Likely Case...

CT Corp Comprehensive Question Canadian Tire Corporation, Limited (Canadian Tire) is a family of companies that includes a retail segment and a financial services division, among others. The retail...

LO6 Describe the growth of financial, family-oriented, and time-off benefits and their importance to employees.

3. Effectively communicating benefits to employees is an ongoing concern for HR professionals. Employers are relying more on technology and social media to spread the good news to employees about the...

1. Benefits are being used to build a sustained competitive advantage and ultimately satisfy a companys strategic objectives. Employers that offer generous benefit packages are often viewed as model...