User Account

All Pages

Calculate the direct materials usage and price variances

Assignment Help Accounting Basics
Reference no: EM132560429

Question - During March, GA Fabrics Corporation manufactured 1,000 units of a special multi-layer fabric with the trade name Ideas. The following information from the Ideas production department also pertains to March.

The standard prime costs for one unit of Ideas are as follows:

Direct-labor rate variance: RS 630 Unfavorable

Direct material purchased: 36,000 yards at RS 1.38 per yard RS 49,680

Direct material used: 19,000 yards at RS 1.38 per yard RS 26,220

Direct labor: 4,200 hours at RS 9.15 per hour RS 38,430

Direct material: 20 yards at RS 1.35 per yard RS 27

Direct labor: 4 hours at RS 9.00 per hour RS 36

Total standard prime cost per unit of output RS 63

Required -

a) Calculate the Direct Materials Usage and Price Variances.

b) Calculate the Direct Labor Efficiency.

Reference no: EM132560429

Questions Cloud

Sectional outline-biocentrism : What evidence have you gathered that supports your section and the Team Thesis? What evidence still needs to be gathered?
Why is the information provided in the balance sheet : Why is the information provided in the balance sheet and income statement useful in terms of decision making? Discuss each statement separately.
Determine what accounts will be debited and credited : William Stibinski, the owner, invested $75,000 cash in a hardware store. Analyze these transactions to determine what accounts will be debited and credited
Create the adjusting entries to record estimated bad debt : Create the adjusting entries to record estimated bad debt expense using the percentage-of-receivables basis under each of the independent
Calculate the direct materials usage and price variances : GA Fabrics Corporation manufactured 1,000 units of a special multi-layer fabric with the trade name Ideas. Calculate Direct Materials Usage and Price Variances
Prepare the adjusting entries to record estimated bad debt : Prepare the adjusting entries to record estimated bad debt expense using the percentage-of-receivables basis under each of the independent
Find and journalize the business transaction in general form : Find and Journalize the business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions
Heat of solution for ammonium nitrate : A cold pack contains 135.0 g of water and 50.0 g of ammonium nitrate. What will be the final temperature (in °C) of the activated
What is the carrying value of the bonds on December : El Kordy Company issues $5,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2018. What is the carrying value of the bonds on December

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the amount of fixed manufacturing overhead

Calculate the amount of fixed manufacturing overhead that would be included in ending inventory under full costing and reconcile

  Define vertical analysis what is the value in using

what is vertical analysis? what is the value in using vertical analysis? why would a company use this analysis? what

  Unrealized intercompany profit in ending inventory

The amount of unrealized intercompany profit in ending inventory at December 31, 2006 that should be eliminated in the consolidation process is :

  Write the code to determine the largest number stored

Write the code to determine the largest number stored in the first column of the array

  Calculate the cost of goods sold and the cost of ending

inventory costing average costbordeaux company has the following information related to purchases and sales of one of

  Prepare a revised balance sheet

Bruno Company has decided to expand its operations. Prepare a revised balance sheet given the available information

  Widgeon co manufactures three products bales tales and

widgeon co. manufactures three products bales tales and wales. the selling prices are 55 78 and 32 respectively. the

  Compute amount of gross margin reported on income statement

If Stubbs uses a weighted average cost flow method and sells 2,000 units of inventory for $17 each, the amount of gross margin reported on the income statement

  What is the fair value of the new parcel of land received

Salad Express paid $16,500 in cash to complete the transaction. What is the fair value of the new parcel of land received by Salad Express

  Desmond drury and ty wilkins have decided to form a

desmond drury and ty wilkins have decided to form a partnership. they have agreed that drury is to invest 20000 and

  How would the total costs accounted for be distributed

Question - Information for Chaucer, Ltd. in July for the Prep Department, How would the total costs accounted for be distributed using the average cost method

  Jarden company has credit sales

Jarden Company has credit sales of $ 3.6 million for year 2013. On December 31, 2013, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $ 14,500. Jarden prepares a schedule of its December 31, 2013, accounts receivable..

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