Determine the total, price and quantity variances for labor

Assignment Help Managerial Accounting
Reference no: EM133056866

QUESTION - Jildy Leather Sdn Bhd produces a customized handmade leather wallet. The company uses a standard cost accounting system. During March 2021, 11,800 leather wallets were made. The following standard and actual cost data applied to the month of March when normal capacity was 15,000 direct labor hours. All materials purchased were used in production.

Cost Element

Standard (per unit)

Actual

Direct materials

5 meters of leather at RM 6.80 per meter

RM 410,400 for 57,000 meters (RM 7.20 per meter)

Direct labor

1.0 hours at RM 11.50 per hour

RM 125,440 for 11,200 hours (RM 11.20 per hour)

Required -

1. Determine the total, price and quantity variances for materials.

2. Determine the total, price and quantity variances for labor.

Reference no: EM133056866

Questions Cloud

Long-run exchange rate determination model : Use the below table to answer the following questions:
SQA in systems development is set of processes : SQA in systems development is a set of processes that ensure the delivered systems meet the pre-defined expectations.
Prepare the post-closing trial balance for the business : The following information relates to Magic Hair Salon Pty Ltd on 30 June 2021. Motor Vehicle 180,000. Prepare the post-closing trial balance for the business
Foreign exchange risk and credit risk : Platinum bank, an Australian bank, has made a huge volume of loans to Indonesian firms. Currently, 35 percent of Platinum's balance-sheet loans to Indonesian fi
Determine the total, price and quantity variances for labor : The company uses a standard cost accounting system. During March 2021, 11,800 leather wallets were made. Determine the total, price and quantity variances
Shares vs buying the target company assets : Question 1. Discuss the difference in acquiring a company using shares vs buying the target company's assets
Discuss how hadoop and associated technologies : Discuss how Hadoop and associated technologies, like Hive and Pig, can be used to manage big data within an organization;
What is the current price of the common stock : Church Inc. is presently enjoying relatively high growth because of a surge in the demand for its new product. Management expects earnings and dividends
Calculate the irr : Calculate the IRR and use it to determine the maximum deviation allowable in the cost of capital estimate to leave the decision unchanged.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Cvp analysis-bep under production environment

A division of Hewelett-Packard Company altered its production operations from one where large labor force assembled electronic components to the automated production facility dominated by computer-controlled robots. Evaluate the budgeted profit as ..

  What raw materials purchases in june would be

What Raw materials purchases in june would be? Sams company manufactures a single product. It keeps its inventory of finished goods at 75%

  What was the unit cost to manufacture a single bird house

If the company manufactured 10,000 bird houses during the month, what was the unit cost to manufacture a single bird house?

  What is the forecast for the fifth month

Cynthia's Design Studios had sales the last four months of $13,700, $15,400, $17,100, and $18,800. What is the forecast for the fifth month

  Do a pi and payback analysis

Do a PI and Payback Analysis, and then make a recommendation to Manny on which option is the more financially-sound investment.

  Compare and contrast internal and external auditors

Compare and contrast Internal and External Auditors. Explain the two primary ways in which audits create value? List and explain three types of Audits.

  Analyze which project is better for the company

Analyze which project is better for the company using Net present value, Discounted payback period, Profitability index and Payback period

  What is future value

Question - What is future value of $23,000 invested at the end of every year for 20 years at an interest rate of 9%

  Prepare a schedule analyzing the physical

Prepare a schedule analyzing the physical flow of units and computing the equivalent units for both direct material and conversion costs for they ear.

  Calculate the ending balance of operating overhead account

Indicate the balance of the Service Contracts in Process account at the end of November. Calculate the ending balance of the Operating Overhead account for Nov

  What amount of copying facility costs will be allocated

What amount of copying facility costs will be allocated to the Operations Department? Use the application methodology that best measures the responsible

  Determine the amount of direct material direct labor

Evaluate these costs, and determine the amount of direct material direct labor, factory overhead, and selling/general/administrative 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!

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