User Account

All Pages

Calculate two variances for material-labor

Assignment Help Accounting Basics
Reference no: EM13256549

The following information concerns the Dormnat Company, which manafactures one product and uses astandard cost system.

Standard cost per unit:

Material:3 liters @ Rs2 Rs6

Directlabor:2hrs @ Rs8 16

Variable factory overhead: 2hrs @ Rs3 6

Fixed factory overhead: 2hrs @ Rs2 4

Rs 32

Other data:

Actual production: 11,000units

Material purchased: 50,000 liters @Rs 1.9; purchases are recorded at standard cost

Direct labor (23,000 hours): Rs1,93,200

Factory overhead: Rs1,03,000

Normal capacity:10,000 units or20,000 direct labour hours

Material used: 35,000liters

You are required to calculate two variances each for material, labor

Reference no: EM13256549

Questions Cloud

Find what is its cut-off frequency of a low pass filter : For a first order low pass filter, with a cut-off of 2 kHz, how many decades and octaves would the frequency be if the attenuation was -58 dB. What would the frequency be at that attenuation.
What is the receivables turnover : Dome Metals has credit sales of $468,000 yearly with credit terms of net 60 days, which is also the average collection period. Dome does not offer a discount for early payment, so its customers take the full 60 days to pay.
Find the rotational inertia of wheel : A wheel consists of 20 thin spokes, each with mass 0.070kg , attached to a rim of mass 4.4kg and radius 0.85m. Find its rotational inertia
What pressure of co would need to use to prepare a solution : If you wanted to prepare a solution of CO in water at 25 in which the CO concentration was 2.1 mM , what pressure of CO would you need to use
Calculate two variances for material-labor : The following information concerns the Dormnat Company, which manafactures one product and uses astandard cost system.
Design an up or down counter that has an input switch x : The counter should be designed using D flip-flops and using the state equation method. (No credit will be given if the circuit is designed using the excitation table method.) Draw the final logic diagram.
Sell the gloves : Keim, Inc. manufactures baseball gloves that normally sell for $40 each
Preparing the journal entries problem : please these one cant figure out how to prepare journal entries for these please help me.
Theory to nursing care to create a positive patient outcome : Nurses are increasingly considered knowledge workers. We are valued for what we know and how we think, rather than what we do. Select one of the nursing theories from your readings this week.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare the journal entry to record the replenishment

On 20 March, Batavia's petty cash fund of $100 is replenished when the fund contains $9 in cash and receipts for postage $51, freight-out $25, and travel expense $10. Prepare the journal entry to record the replenishment of the petty cash fund.

  Accountability in reporting memo

Write a short Memo to a nonfinancial audience explaining how increasing scrutiny and demand for accountability by the public has influenced reporting for not-for-profit and governmental entities.

  Determine wilma taxable income

Wilma is a widow, age 80 and blind, who is claimed as a dependent by her son. During 2009, she received $4,800 in Social Security benefits, $2,200 in bank interest, and $1,800 in cash dividends from stocks. Wilma's taxable income for 2009 is:

  Journal entries-cayuga meadows

Cayuga Meadows purchased 42,000 shares of common stock of Long Corporation as a long-term investment for $1,000,000. During the year, Long Corporation reported net income of $500,000 and paid dividends of $200,000.

  Which ratios would you use to analyze a company

What are the limitations of using ratios for financial statement analysis? What are the benefits?

  Materials quantity variance for the month

The following materials standards have been established for a particular product: What is the materials quantity variance for the month?

  Reduce the residual value remaining furniture

Purchased office furniture on credit from Goodyear supply for defective office furniture received on may 10 and returned for credit. The return of defective furniture will reduce the residual value remaining furniture to $3000.

  Balance in annes capital account

Allen invests $20,000 cash and Anne invests land that originally cost $20,000 in their new partnership. The land is now worth $35,000. Which of the following is the balance in Anne's capital account?

  Flexible budget planning performance eval

Prepare a realistic flexible budget for next year for the McDonald's Corporation using economic and company trends. Use three different growth rates (low, average and high) for sales and adjust the expenses based on whether you assume that they v..

  Determining percent marginal tax bracket

What are the income and FICA tax consequences if $325,000 is determined to be excessive wages by the IRS? Assume Joe is in the 35 percent marginal tax bracket and JS Corporation is in the 34 percent marginal tax bracket.

  Accounts receivable turnover for the period

A company has net sales of $410,000 and average accounts receivable of $82,000. What is its accounts receivable turnover for the period?

  Determining firm core operating income

The firm also reports a currency translation gain of $8.9 million as part of other comprehensive income. Calculate the firm's core operating income (after tax) and core percentage profit margin. The firm's marginal tax rate is 39 percent.

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