You have been given the following information about the production of Horatio Co., and are asked to
Question:
You have been given the following information about the production of Horatio Co., and are asked to provide the plant manager with information for a meeting with the vice president of operations.
The following is a variance report for the most recent period of operations.
Instructions
(a) How many units were produced during the period?
(b) How many pounds of raw materials were purchased and used during the period?
(c) What was the actual cost per pound of raw materials?
(d) How many actual direct labor hours were worked during the period?
(e) What was the actual rate paid per direct laborhour?
Transcribed Image Text:
Standard Cost Card Direct materials (5 pounds at $4 per pound) Direct labor (0.8 hours at $10) Variable overhead (0.8 hours at $3 per hour) Fixed overhead (0.8 hours at $7 per hour) $20.00 8.00 2.40 5.60 $36.00 Variances Total Standard Cost antiy CostS Direct materials Direct labor $405,000 180,000 Pric $5,175 F 3,840 U $9,000 U 6,000 U
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (15 reviews)
a Number of units Total standard cost Standard cost per unit Number of units 405000 200...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Managerial Accounting Tools for business decision making
ISBN: 978-1118096895
6th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Managerial Accounting questions
-
You have been given the following information about the production of Gamma Co., and are asked to provide the plant manager with information for a meeting with the vice president of operations....
-
You have been given the following information about the production of Adler Co., and are asked to provide the plant manager with information for a meeting with the vice president of operations....
-
You have been given the following information about the production of Usher Co., and are asked to provide the plant manager with information for a meeting with the vice president of operations....
-
True or False Financial ratios are the principal tools of financial analysis because they standardize financial information so that comparisons can be made between firms of varying sizes.
-
Willkom Corporation bought 100 percent of Szabo, Inc., on January 1, 2011. On that date, Willkom's equipment (10-year life) has a book value of $300,000 but a fair value of $400,000. Szabo has...
-
Handicappers for greyhound races express their belief about the probabilities that each greyhound will win a race in terms of odds. If the probability of event E is P(E), then the odds in favor of E...
-
Why does a booming economy not carry on booming indefinitely. Why does an economy in recession pull out of that recession?
-
Buster's Furniture provides the following information for the year: Required Estimate bad debt expense for the year as (a) 5% of accounts receivable (b) 2% of net credit sales. Discuss why Buster's...
-
Do you think Interface Carpets business model is infinitely sustainable, or will there come a time when they won't be able to continue making carpets in this manner ( think about the raw materials...
-
Laurens Beauty Boutique has experienced the following weekly sales: Forecast sales for week 6 using the nave method, a simple average, and a three-period moving average. Week 1 2 3 4 5 Sales 420 382...
-
The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Instructions (a) Compute the total, price, and quantity variances for...
-
During March 2014, Toby Tool & Die Company worked on four jobs. A review of direct labor costs reveals the following summary data. Analysis reveals that Job A257 was a repeat job. Job A258 was a rush...
-
For each polynomial function, (a) list all possible rational zeros, (b) find all rational zeros, and (c) factor (x) into linear factors. Zeros of -3, 1, and 4; (2) = 30
-
A block of data is stored in memory location starting from C040 H. Length of the block is stored in register B. Write an Assembly language program to find the number of times (COUNT) the data AB H...
-
Please write an "Image Recognition Algorithm" in deep learning step by step from input to output with the calculation of writing in the algorithm. In the form of an algorithm pseudo code
-
Eloquent- means fluent or persuasive in speaking. Clear in expressing or indicating something. Articulate, well-spoken, effective. APA format: 4 pages Page 1- Title Page Pages 2 & 3 WHO: Identify an...
-
14 On December 1, a company purchases for cash 1 unit of inventory A for $10 and 1 unit of inventory B for $20. By December 31, the company has not sold unit A or B. The market value of unit A is $12...
-
Jaman drove his car a total of 25,000 miles in 2021, of which 17,500 were for business and 7,500 were personal use. He incurred $5,000 in lease payments, $2,500 in fuel, $2,000 in insurance, and $150...
-
In Problems 3847, decide if the given triangle is a right triangle. If it is, find the sine, cosine, and tangent for the angle A. A 13 12 B 5 C
-
The first law of thermodynamics is sometimes whimsically stated as, You cant get something for nothing, and the second law as, You cant even break even. Explain how these statements could be...
-
Hyundai Motors India Limited, a 100 per cent subsidiary of the South Korea-based Hyundai Motor Company, started its operations in 1996. In September 1998, Hyundai India started mass production of its...
-
In its annual report, WRS Athletic Supply, Inc., includes the following five-year financial summary. Requirement 1. Analyze the companys financial summary for the fiscal years 20112015 to decide...
-
Supreme Water Sports has 12,000 shares of $2 par common stock outstanding. Supreme distributes a 5% stock dividend when the market value of its stock is $22 per share. Requirements 1. Journalize...
-
Compare and contrast the accounting for cash dividends and stock dividends. Requirement 1. In the space provided, insert either Cash dividends, Stock dividends, or Both cash dividends and stock...
-
Assume the following inputs for parts a, b, and c below. The market portfolio has an expected return of 12% and a standard deviation of returns of 20%. The risk-free rate is 5%. a) The stock ABC has...
-
Suppose your MasterCard calculates interest using the average daily balance method, and the monthly interest rate is 1.1%. The itemized billing for the month of August is shown below. Detail Date...
-
Instructions - You will complete this week's task by submitting: A completed AIT QAPI Leadership Rounding Guide Attach Your CMS Comparison Report as from the CMS Compare Site in PDF format/or JPeg...
Study smarter with the SolutionInn App