Reference no: EM132562468
O'Shea Company manufactures ceramic vases.
It uses its standard costing system when developing its flexible-budget amounts.
In April 2007, 2,000 finished units were produced.
The following information is related to its two direct manufacturing cost categories: direct materials and direct labor.
Direct materials used were 4,400 kilograms (kg).
The standard direct materials input
allowed for one output unit is 2 kilograms at $15 per kilogram.
O'Shea purchased 5,000 kilograms of materials at $16.50 per kilogram, a total of $82,500. Actual direct labor-hours were 3,250, at a total cost of $66,300. Standard direct labor time allowed is 1.5 hours per output unit, and the standard direct labor cost is $20 per hour.
Required:
Question 1: Calculate the direct materials variances and the direct labor variances.
Question 2: Prepare journal entries for a standard costing system.
|
Demonstrate what should the price of the diagnostic kit
: Demonstrate what should the 1998 price of the diagnostic kit be if Harar is to make the same Br 200,000 profit before income taxes?
|
|
Define what herzberg would categorize as motivational factor
: If you have taken the time to review Herzberg's work, you may have learned that people accept a job and stay on the job for different motivational reasons.
|
|
Find what is its operating income at br sales
: Find What is its operating income at Br 1,200,000 sales? Meta Company has fixed costs of Br 100,000 and breakeven sales of Br 800,000.
|
|
Calculate the ending capital balances for shawn
: Calculate the ending capital balances for Shawn and Dan. Show the entries to close the withdrawal account, and show the entry to close net income
|
|
Prepare journal entries for a standard costing system
: O'Shea Company, Calculate the direct materials variances and the direct labor variances. Prepare journal entries for a standard costing system.
|
|
Discuss why people choose a workplace
: Herzberg's two-factor theory speaks to issues relevant in both employee compensation and benefits as it discusses why people choose a workplace.
|
|
Prepare journal entries to record transactions and events
: Feb. 17 Paid $1,200 for minor repairs to the loader after the operator backed it into a tree. Prepare journal entries to record transactions and events
|
|
Examine what 21st-century employees consider to be benefits
: Examine what 21st-century employees consider to be benefits (see this week's recommended readings for a start). Consider what helps to keep employees engaged.
|
|
Find what is standard costing
: What is standard costing? Can we apply standard costing in our daily lives? If yes, how? If not, why? Explain the relationship of Financial, Management
|