User Account

All Pages

Compute direct manufacturing labor variances for July

Assignment Help Accounting Basics
Reference no: EM132662996

Question - Direct manufacturing labor and direct materials variances, missing data. (CMA, heavily adapted) Young Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $223 per board. This includes 40 pounds of direct materials, at the budgeted price of $2 per pound, and 10 hours of direct manufacturing labor, at the budgeted rate of $14.30 per hour. Following are additional data for the month of July:

Units completed 5,500 units

Direct material purchases 160,000 pounds

Cost of direct material purchases $432,000

Actual direct manufacturing labor-hours 41,000 hours

Actual direct labor cost $594,500

Direct materials efficiency variance $ 1,700 F

There were no beginning inventories.

Required -

1. Compute direct manufacturing labor variances for July.

2. Compute the actual pounds of direct materials used in production in July.

3. Calculate the actual price per pound of direct materials purchased.

4. Calculate the direct materials price variance.

5. Make the journal entries.

Reference no: EM132662996

Questions Cloud

Executive program practical connection assignment : Servant-leaders in their disciplines and communities, linking research with practice and knowledge with ethical decision-making.
Describe the civil law and criminal law : This paper is to be general in nature and should address each major category of law covered in the course. You may focus your attention on either civil law.
Discuss the influence of globalization : Discuss the influence of globalization, social responsibility and environmental sustainability on strategic management of a corporation.
Critically appraise security requirements : Critically appraise security requirements and their role in securing software systems and the data they store and manage - Predict software security design
Compute direct manufacturing labor variances for July : The standard cost of direct materials and direct manufacturing labor is $223 per board. Compute direct manufacturing labor variances for July
What are the goals of the organization : Research the organizational structure of the United Nations Human Rights Council. What are the goals of the organization? How is it structured to accomplish.
Data mining-text mining and sentiment analysis : Explain the relationship among data mining, text mining, and sentiment analysis.
Describe how your learned knowledge can be used : Describe how your learned knowledge can be used. Also, identify how this information can be used to resolve conflict in the workplace in your current job.
Develop strategies to encourage employees : Throughout this course, you analyzed your current work environment to identify their acquiring, developing, and training practices. Employees are the biggest.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Computation of diluted eps

Cumulative Preferred Stock (Total par $200,000), Convertible to 20,000 common shares - Stock Options to purchase 12,000 Common Shares at $31 per share

  The willsey merchandise company has budgeted 40000 in sales

the willsey merchandise company has budgeted 40000 in sales for the month of december. the companys cost of goods sold

  What should the internet company do

What should the Internet company do? Use ethical theories and ethical decision-making models to back up your decision.

  What is the cost of goods sold

On August 20, three units were sold. Using the last in, first out (LIFO) method, what is the cost of goods sold (COGS)

  Discussion assignment needs completed

Identify and discuss the key steps in the closing process that provide the most opportunity to make mistakes in processing account transactions. Why did you select these steps and what makes them confusing?

  Explain the following statement in detail

"A monopolist can control the price or the quantity sold, but cannot control both."

  Determine the total fixed cost per month

Express each cost as a rate per month or per unit and determine the total fixed cost per month and the variable cost per unit for Tweety.

  The general ledger of banner corporation

The general ledger of Banner corporation

  Discuss concept is fundamental to the income tax structure

The ability-to-pay concept is fundamental to the income tax structure. Constructs used to implement this concept include

  How much can nelsons short-term debt notes payable

the nelson company has 1207500 in current assets and 525000 in current liabilities. its initial inventory level is

  What was important for the efficient working

Can you describe a time when you set out to acheive a goal and you needed to work with a group of people to achieve that goal? What do you think makes a good team member?

  Statement of cash flows analysis. refer to the consolidated

Statement of cash flows analysis. Refer to the consolidated statements of cash flows on figure shown below of the Campbell Soup Company annual report in the appendix.

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