Simba companys standard materials cost per unit of output

Assignment Help Accounting Basics

Reference no: EM13583764

1) Labor data for making one gallon of finished product in Tang Company are as follows: (1) Price-hourly wage rate $16.55, payroll taxes $0.81, and fringe benefits $1.77. (2) Quantity-actual production time 1.39 hours, rest periods and cleanup 0.32 hours, and setup and downtime 0.17 hours.

Compute the following. (Round answers to 2 decimal places, e.g. 1.25.)

(a)	Standard direct labor rate per hour.	$
(b)	Standard direct labor hours per gallon.		hours
(c)	Standard labor cost per gallon.	$

2) Simba Company's standard materials cost per unit of output is $11.52 (2.40 pounds x $4.80). During July, the company purchases and uses 3,100 pounds of materials costing $16,740 in making 1,400 units of finished product.

Compute the total, price, and quantity materials variances.

Total materials variance	$	UnfavorableFavorableNeither favorable nor unfavorable
Materials price variance	$	UnfavorableFavorableNeither favorable nor unfavorable
Materials quantity variance	$	FavorableUnfavorableNeither favorable nor unfavora

Reference no: EM13583764

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