Question arrow enterprises uses a normal costing system the

Assignment Help Financial Accounting

Reference no: EM13348752

Question :

Arrow Enterprises uses a normal costing system. The standard cost sheet for product no. 549 follows.

Direct materials: 4 units @ $6.50 $26.00

Direct labor: 8 hours @ $8.50 68

Variable factory overhead: 8 hours @ $7.00 56

Fixed factory overhead: 8 hours @ 2.5 20

Net standard cost per unit $170.00

The subsequent information pertains to activity for December:

1. Direct materials acquired in the current month amounted to 26,350 units at $6.40 per unit. Every material was consumed in operations.

2. Arrow incurred an average wage rate of $8.75 for 51,400 hours of activity.

3. Net overhead incurred amounted to $508,400. Budgeted fixed overhead totals $1.8 million and is spread evenly throughout the year.

4. Actual production amounted to 6,500 completed units.

Instructions:

a. Evaluate Arrow's direct material variances.

b. Calculate Arrow's direct labor variances.

c. calculate Arrow's variances for factory overhead.

Reference no: EM13348752

Questions Cloud

Questionexplain the profit short fall one calculation is to : questionexplain the profit short fall. one calculation is to evaluate the amount of the shortfall. you are provided

Question a paper for a government nonprofit accounting : question a paper for a government nonprofit accounting class.pension trust fundharvey city has just one trust and

Question chester has a fresh design for their product cedar : question chester has a fresh design for their product cedar next round that can reduce their material cost of producing

Problem 1 - nancy company has budgeted sales of 750000 with : problem 1 - nancy company has budgeted sales of 750000 with the subsequent budgeted costsdirect materials 210000direct

Question arrow enterprises uses a normal costing system the : question arrow enterprises uses a normal costing system. the standard cost sheet for product no. 549 follows.direct

Question mazeppa corporation sells relays at a selling : question mazeppa corporation sells relays at a selling price of 28 per unit. the companys cost for every unit based on

Question 1 a describe why a critical analysis of the : question 1 a describe why a critical analysis of the following is important while reading a research article-i the

Question 1case studychris is a researcher in school : question 1case studychris is a researcher in school counselling who is concerned about the stresses experienced by

Question 1a identify a topic that could be the focus of a : question 1a identify a topic that could be the focus of a research study in educational leadership and management and

User Account

All Pages