User Account

All Pages

Calculate direct material and labour variances

Assignment Help Managerial Accounting
Reference no: EM132995046

Question - Walcott Ltd produced 7800 widgets. The accounting records indicated the following:

Direct material purchased 25 000 kilograms @ $2.60 per kilogram

Direct material used 23 100 kilograms

Direct labour used 40 100 hours @ $18 per hour

The widget has the following standard prime costs:

Direct material: 3 kilograms @ $2.50 per kilogram

Direct labour hours: 5 hours @ $17 per hour

Required -

A) Fill in the cells to calculate direct material and labour variances identifying the direct material price and quantity variances and the direct labour rate and efficiency variances separately.

B) Suggest at least one possible reason to explain each variance.

Reference no: EM132995046

Questions Cloud

Describe from a purely business standpoint : Describe from a purely business standpoint, any issues that might arise from contracting with an international-based versus U.S.-based BPO service firm?
What is GreenPark manufacturing rate : The job required 252 direct labour hours at a cost of $7,560. What is GreenPark's manufacturing rate per direct labour cost? Round to two decimal places
Calculate Mr logans minimum net employment income : Calculate Mr Logan's minimum Net Employment Income for the employment offer and Explain one advantage and one disadvantage from either offer
Explain whether workers at airbus have same marginal product : Recently, the Boeing Commercial Airline Group (BCAG) recorded orders. Explain whether workers at Airbus have the same marginal product as workers at Boeing?
Calculate direct material and labour variances : Fill in the cells to calculate direct material and labour variances identifying the direct material price and quantity variances and the direct labour rate
What do think is the biggest reason poor countries : What do you think is the biggest reason poor countries are not catching up with rich countries in terms of wealth or GDP per capita?
What is marginal rate of consumption : What is your marginal rate of consumption (MPC)? If your income increased $1,000 per month until retirement, how much would your spending on consumption
What is the acquisition cost of this equipment : H. Solo paid $400 for property and liability insurance for the first year of operation. What is acquisition cost of this equipment that H. Solo should record
How frequently are wages adjusted : How frequently are your wages adjusted? The aggregate supply-aggregate demand diagram assumes the short-run aggregate supply curve

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd