Question: The Cakebread Candy Company presents the following data for October: During the month, the firm purchased 49,000 pounds of materials for $127,500. Wages earned were

The Cakebread Candy Company presents the following data for October:

During the month, the firm purchased 49,000 pounds of materials for $127,500. Wages earned were $214,000. Compute the labor and materialvariances.

Standards per Batch Actual Pound at $2.50 perPund9,000 Pounds Materials Labor Batches Produced 1.5 Hours at $3.00 per Hour 70,000 Hours 48,000 Batches

Step by Step Solution

★★★★★

3.46 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Price Efficiency Variance Variance Materials ... View full answer

Question Has Been Solved by an Expert!

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

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

137-B-M-A-P-E (704).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!

Class Quest, Inc. uses a standard cost system for its product, Fruta. For the month of June, the company expects to produce 10,000 units of Fruta using 20,000 pounds of material, and 4,000 direct...

During the month of March, Munster Company's employees earned wages of $64,000. Withholdings related to these wages were $4,896 for Social Security (FICA), $7,500 for federal income tax, $3,100 for...

During the month of February, Hennesey Corporation's employees earned wages of $74,000. Withholdings related to these wages were $5,661 for Social Security (FICA), $7,100 for federal income tax, and...

Materials and labor variances: Standards per Batch Actual Total Materials 1 Pound at $3.50 per Pound 59,000 Pounds Labor. 1.5 Hours at $4.00 per Hour 82,000 Hours Batches Produced 58,000 Batches The...

Materials and Labor Variances. The Cakebread Candy Company presents the following data for October. Standards per Batch Actual Total Materials...................1 pound at 2.50 per pound 49,000...

28. Materials and labor variances. The Cakebread Candy Company presents the following data for October: Standards per Batch Actual Total Materials 1 Pound at $2.50 per Pound 49,000 Pounds Labor 1.5...

1. How would a coffee shop use labor and materials variance information? 2. Kyle's Products estimates the following selling expenses next period: Salaries (fixed) $ 30,000 Commissions (0.5%of sales...

Two Discussion Questions. A minimum of 200 words per question. Both questions are attached to the word document and each chapter to both questions are attached to the PDF. Any references/citations...

1. JCH Company conducts business in the lumber and building products industry. Last week, JCH purchased 50 railcars of lumber from a mill in Oregon and sold all 50 to a Home Depot store in North...

I need help for those question . E4.16 E18.4 E19.7 P22.4 E23.4 E18.10 E22.10 CHAPTER 4 EXERCISES: SET B E4-1B The trial balance columns of the worksheet for Lamar Company at June 30, 2017, are as...

Determine the strain energy per unit volume (units of psi) and the strain energy per unit weight (units of in.) that can be stored in each of the materials listed in the accompanying table, assuming...

George Oil Corporation drilled a successful gas well. Although capable of production, the well was shut in awaiting the completion of a pipeline, Shut-in royalty payments of $2,000 per month were...

CAPM and Valuation You are considering acquiring a firm that you believe can generate expected free cash flows of 1 0 0 0 0 a year forever However you recognize that those cash flows are uncertain LO...

Pets Researchers at the National Cancer Institute released the results of a study that investigated the effect of weed-killing herbicides on house pets. They examined 827 dogs from homes where an...

Review the meaning of the concepts or terms given above in Key Terms and Concepts.

Make-or-buy Liquid Chemical Co.2 The Liquid Chemical Company manufactures and sells a range of high-grade products. Many of these products require careful packing. The company has a special patented...

Sell or process further (adapted from CM A exam). The management of Bay Company is c onsidering a proposal to install a third production department within its existing factory building. With the...

As a financial advisor, you are assigned a new client who is considering investing in one of two stocks, A or B. The table below shows information about the performance of stocks A and B last year....

List 2 Big Data products or solutions.

Home work: A report on "Gas Lift". Not less than 500 words.