Reference no: EM13507274
1. Landram Corporation makes a product with the following standard costs:
|
Inputs
|
Standard Quantity or Hours
|
Standard Price or Rate
|
|
Direct materials
|
2.0 kilos
|
$7.00 per kilo
|
|
Direct labor
|
1.6 hours
|
$14.00 per hour
|
|
Variable overhead
|
1.6 hours
|
$2.00 per hour
|
In March the company produced 4,600 units using 10,220 kilos of the direct material and 2,200 direct labor-hours. During the month, the company purchased 10,790 kilos of the direct material at a cost of $76,670. The actual direct labor cost was $38,246 and the actual variable overhead cost was $11,947.
The company applies variable overhead on the basis of direct labor-hours. The direct materials price variance is computed when the materials are purchased.
The materials quantity variance for March is:
A. $7,140 U
B. $7,248 U
C. $7,140 F
D. $7,248 F
2. Hurren Corporation makes a product with the following standard costs:
|
Inputs
|
Standard Quantity or Hours
|
Standard Price or Rate
|
Standard Cost Per Unit
|
|
Direct materials
|
4.8 grams
|
$7.00 per gram
|
$33.60
|
|
Direct labor
|
0.8 hours
|
$13.00 per hour
|
$10.40
|
|
Variable overhead
|
0.8 hours
|
$8.00 per hour
|
$6.40
|
The company reported the following results concerning this product in June.
|
Originally budgeted output
|
6,200
|
units
|
|
Actual output
|
6,100
|
units
|
|
Raw materials used in production
|
28,420
|
grams
|
|
Actual direct labor-hours
|
4,800
|
hours
|
|
Purchases of raw materials
|
32,200
|
grams
|
|
Actual price of raw materials purchased
|
$7.10
|
per gram
|
|
Actual direct labor rate
|
$13.90
|
per hour
|
|
Actual variable overhead rate
|
$7.70
|
per hour
|
The company applies variable overhead on the basis of direct labor-hours. The direct materials price variance is computed when the materials are purchased.
The labor rate variance for June is: (Round your intermediate calculations to 2 decimal places.)
A. $4,392 F
B. $4,320 F
C. $4,392 U
D. $4,320 U
3. Landram Corporation makes a product with the following standard costs:
|
Inputs
|
Standard Quantity or Hours
|
Standard Price or Rate
|
|
Direct materials
|
2.0 kilos
|
$7.00 per kilo
|
|
Direct labor
|
1.0 hours
|
$14.00 per hour
|
|
Variable overhead
|
1.0 hours
|
$6.00 per hour
|
In March the company produced 4,700 units using 10,280 kilos of the direct material and 2,260 direct labor-hours. During the month, the company purchased 10,850 kilos of the direct material at a cost of $76,730. The actual direct labor cost was $38,238 and the actual variable overhead cost was $11,939.
The company applies variable overhead on the basis of direct labor-hours. The direct materials price variance is computed when the materials are purchased.
The materials price variance for March is: (Do not round intermediate calculations.)
A. $640 U
B. $780 F
C. $780 U
D. $640 F
|
Identifying a key marketing related business challenge
: 1. Identifying a key marketing related business challenge within the organisation that the student works for or has frequent dealings
|
|
Identify the most important facts about the diet
: Analyze your own protein intake. You should collect, organize, and report data related to your own protein requirements. For your analysis, you should
|
|
Compute the total asset turnover rate
: Compute the total asset turnover rate assuming that total revenues in 2012 were $682,500. Round to the nearest hundredth, e.g. 3.33.
|
|
Would it include a debit to depreciation expense
: Sky Company collected $12,350 in interest during 2013. Sky showed $1,850 in interest receivable on its December 31, 2013, balance sheet and $5,300 on December 31, 2012.
|
|
Materials quantity variance for march
: The company applies variable overhead on the basis of direct labor-hours. The direct materials price variance is computed when the materials are purchased.
|
|
Managing a small cross-functional project team
: Managing a small cross-functional project team
|
|
Determine the heat transfer for the process
: One kilogram of water vapor (as an ideal gas) is filled in a frictionless piston-cylinder assembly. The piston can move freely in the cylinder and it is in surroundings of 1 atm. Determine the heat transfer for the process
|
|
Determine the optimal quantities of the decision variables
: Determine the optimal quantities of the decision variables.
|
|
Explain the cycle and the overall cycle
: A sample consisting of 1.45 mol of perfect gas atoms is taken through the following cycle: step1 constant pressure, change in volume from 22.44L to 44.88L. Step2 Constant volume, change pressure from 1bar to .35bar.
|