Submit an excelnbspnbspdocument with each tab labeled by

Assignment Help Accounting Basics

Reference no: EM13587317

Castle Company produces throw blankets that are popular holiday gifts. Standard variable costs relating to a single blanket are given below

	Standard Quantity or Hours	Standard Price or Rate	Standard Cost
Direct materials	2.62 yards	$5 per yard	$?
Direct labor	1.35 DLH	$6.80 per DLH	$?
Variable manufacturing overhead	1.35 DLH	$2 per direct labor-hour	$?
Total standard cost			$?

Overhead is applied to production on the basis of direct labor hours. During March, 924 blankets were manufactured and sold. Selected information related to the month's production is given below:

	Materials Used	Direct Labor	Variable Manufacturing Overhead
Actual costs incurred	$11,500	$8,408	$3,100
Direct materials price variance	?
Actual	2,620 yards	1400 hours
Direct materials quantity variance	$1,000 U
Direct labor rate variance		?
Direct labor efficiency variance		?
Variable overhead rate variance			?
Variable overhead efficiency variance			?
*For this month's production of 924 blankets

Submit an Excel document with each tab labeled by item number in good form that demonstrates the following through your calculations:

1.What is the standard cost of a single blanket?

2.What was the actual cost per blanket produced during March?

3.What was the direct materials price variance for March?

4.What was the direct labor rate variance for March? The direct labor efficiency variance?

5.What was the variable overhead rate variance for March? The variable overhead efficiency variance?

Reference no: EM13587317

Questions Cloud

From the top of a cliff 16415 ft high you observe a shorter : from the top of a cliff 16415 ft high you observe a shorter cliff7542 ft high. if the two cliffs are 3789 ft apart at

Choose an item that you would like to manufacture you do : choose an item that you would like to manufacture. you do not actually need to manufacture something but will proceed

A company that has a fiscal year-end of december 31 1 on : a company that has a fiscal year-end of december 31 1 on october 1 31000 was paid for a one-year fire insurance policy

If gasolines composition is estimated to be 50 octane 25 : if gasolines composition is estimated to be 50 octane 25 pentane and 25 ethly benzene on a mol basis calculate the mols

Submit an excelnbspnbspdocument with each tab labeled by : castle company produces throw blanketsnbspnbspthat are popular holiday gifts.nbspnbspstandard variable costs relating

Which of the following best describes what is meant by : which of the following best describes what is meant by generally accepted auditing standards? audit assertions

If he struck a ball with the a speed and launch angle that : in 1971 astronaut alan shepard took a golf club to the moon where the acceleration due togravity is about g6. if he

Which reactant is the limiting reactant the reactant will : question when a mix of 10 ml of 2 m na2co3 solution with 8 ml of 1 m hcl solution co2 is producedna2co3 aq 2 hcl aq

If the variable cost per unit increases by 1 spending on : oslo compnay prepared the following contribution income statement based on a sales volume of 100 units the relevant

User Account

All Pages