the standard product mix for making 12,500 tubes of liquid solder is: Kgs. Cost/Unit Total Cost Material A 1,500 0.06 90 Material B 625 0.40 250 Material C 1,000 0.25 250 During April, 77,500 tubes were produces from an input of: Kgs. Cost/Unit Total Cost Material A 8,750 0.056 490 Material B 3,750 0.380 1,425 Material C 6,250 0.280 1,750 Compute for the materials yield variance. Indicate whether favorable or unfavorable

the standard product mix for making 12,500 tubes of liquid solder is: Kgs. Cost/Unit Total Cost Material A 1,500 0.06 90 Material B 625 0.40 250 Material C 1,000 0.25 250 During April, 77,500 tubes were produces from an input of: Kgs. Cost/Unit Total Cost Material A 8,750 0.056 490 Material B 3,750 0.380 1,425 Material C 6,250 0.280 1,750 Compute for the materials yield variance. Indicate whether favorable or unfavorable

Name: the standard product mix for making 12,500 tubes of liquid solder is:
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Description: the standard product mix for making 12,500 tubes of liquid solder is: Kgs.Cost/UnitTotal CostMaterial A1,5000.0690Material B6250.40250Material C1,0000.25250 During April, 77,500 tubes were produces from an input of: Kgs.Cost/UnitTotal CostMateria

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 18EA: Prepare the journal entry to record the transfer of 3,000 units from the packaging department to...

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The standard product mix for making 12,500 tubes of liquid solder is: Cost/Unit Total Cost Kgs. 1,500,00 Material A 0.06 90 Material B 625 0.40 250 Material C 1,000 0.25 250 During April, 77,500 tubes were produced from an input of: Cost/Unit Kgs. 8,750 Total Cost Material A 0.056 490 Material B 3,750 0.380 1,425 1,750 Material C 6,250 0.280 Compute for the materials yield variance. Indicate whether favorable or unfavorable.
The standard product mix for making 12,500 tubes of liquid solder is: Cost/ unit Total Cost 90.00 250.00 250.00 Kgs. Material A Material B Material C 1,500.00 625.00 1,000.00 0.06 0.40 0.25 During April, 77,500 tubes were produced from an input of: Kgs. Cost/ unit Total Cost Material A Material B 8,750.00 3,750.00 0.056 0.380 0.280 490.00 1,425.00 Material C 6,250.00 1,750.00 Compute for the materials yield variance. Indicate whether favorable or unfavorable.
Chem Co manufacture a single product, product W, and have provided you with the following information which relates to the period which has just ended.Standard cost per unit of product WMaterials:Material F: 15kgx$4/kg= $60Material G: 12kgx$3/kg=$ 36Material H: 8kgx $6/kg=$ 48Labour:Department P: 4 hours x $10 per hour = $40Department Q: 2 hours x $6 per hour = $12Budgeted sales for the period are 4,500 units at $260 per unit. There were no budgeted opening or closing inventories of product W.The actual materials used were as follows.Materials: Material Price per kiloTotal KilosMaterial F: 59,800kg x $4.25/kg=$254,150Material G: 53,500kg x $2.80/kg= $149,800Material H: 33,300kg x $6.40/kg= $213,1204,100 units of product W were produced and sold for $1,115,800.Required(a) calculate the sales variance(b) comment on your findings to help explain what has happened to the yield variance.
PRESENT YOUR ANSWER AS: 10 FAVORABLE OR 10 UNFAVORABLE. The standard product mix for making 12,500 tubes of liquid solder is: Cost /unit Tolal cost 90.00 Kgs. Material A 1,500.00 0.06 Material B 625.00 0.40 250.00 Material C 1,000.00 0.25 250.00 During April, 77,500 tubes were produced from an input of: Kgs. Cost /unit Total cost Material A 8,750.00 0.056 490.00 0. 380 1,425.00 0. 280 1,750.00 Material B 3,750.00 Material C 6,250.00 Compute for the materials yield variance. Indicate whether favorable or unfavorable.
ASM Company makes a cologne called Allure. The standard cost for one bottle of Allure is as follows: Standard Manufacturing Cost Elements Quantity x Price = Cost Direct materials 6 oz. x P0.90 = P 5.40 Direct labor 0.5 hrs. x P12.00 = P 6.00 Manufacturing overhead 0.5 hrs. x P 4.80 = P 2.40 P13.80 During the month, the following transactions occurred in manufacturing 10,000 bottles of Allure: 1. 58,000 ounces of materials were purchased at P1.00 per ounce. 2. All the materials purchased were used to produce the 10,000 bottles of Allure. 3. 4,900 direct labor hours were worked at a total labor cost of P56,350. 4. Variable manufacturing overhead incurred was P15,000 and fixed overhead incurred was P10,400. The manufacturing overhead rate of P4.80 is based on a normal capacity of 5,200 direct labor hours. The total budget at this capacity is P10,400 fixed and P14,560 variable. Instructions: (a) Compute the total variance and the variances for direct materials and direct labor…
The following information is provided about three materials utilized in the production of a product: Material Standard Mix Standard Unit Price Standard Cost X 1,250 units $3.00 per unit $3,750 Y 750 units 5.00 per unit $3,750 Z 500 units 4.00 per unit $2,000 Yield 2,250 units During May, the following actual production information was provided: Material Actual Mix X 10,000 units Y 5,000 units Z 2,500 units Yield 15,000 units Yield 15,000 unitsWhat is the Material yield variance. a.$3,167(U) b.$6,333(F) c.$3,167(F) d.$6,333(U)
Bohol Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate $3.10 per kilo $ 19.00 per hour Direct Materials 1.1 Direct Labor 02 Kilos Hours The company reported the following results concerning this product in June. Actual Output Raw materials used in production Actual direct labor hours Purchases of raw materials Actual price of raw materials Actual direct labor rate 148,300 units 160,750 kilos 26,100 hours 140,500 kilos $3.35 per kilo $21.50 per hour a) What was materials price variance for June? b) What was materials quantity variance for June? c) What was the labor rate variance for June? d) What was the labor efficiency variance for June?
Stevens Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials—1 pound plastic at $7.00 per pound $ 7.00 Direct labor—1.6 hours at $12.00 per hour 19.20 Variable manufacturing overhead 12.00 Fixed manufacturing overhead 4.00 Total standard cost per unit $42.20 The predetermined manufacturing overhead rate is $10.00 per direct labor hour ($16.00 ÷ 1.6). It was computed from a master manufacturing overhead budget based on normal production of 8,000 direct labor hours (5,000 units) for the month. The master budget showed total variable costs of $60,000 ($7.50 per hour) and total fixed overhead costs of $20,000 ($2.50 per hour). Actual costs for October in producing 4,800 units were as follows. Direct materials (5,100 pounds) $ 36,720 Direct labor (7,400 hours) 92,500 Variable overhead 59,700 Fixed overhead 21,000 Total manufacturing costs $209,920 The purchasing department…
A Company combines three types of materials to produce its product. For a 100-kilo batch, the standard cost for materials are as follows: Standard Quantity 60 kilos 36 kilos Standard Price Total Materials A Materials B P5.00 4.00 P300 144 24 kilos 120 kilos Materials C 3.00 72 P516 During August, the company produced 200 batches or 20,000 kilos of its product. Materials used for this production were: Quantity 12,600 kls 7,300 kls 4.700 kls 24,600 kilos Price Total Materials A Materials B P4.80 4.10 3.40 P60,480 P29,930 15.980 P106,390 Materials C Compute for the Materials Variance involving several materials combined in the production process.
Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials—1 pound plastic at $8.00 per pound $ 8.00 Direct labor—1.5 hours at $11.90 per hour 17.85 Variable manufacturing overhead 9.75 Fixed manufacturing overhead 11.25 Total standard cost per unit $46.85 The predetermined manufacturing overhead rate is $14.00 per direct labor hour ($21.00 ÷ 1.5). It was computed from a master manufacturing overhead budget based on normal production of 8,250 direct labor hours (5,500 units) for the month. The master budget showed total variable costs of $53,625 ($6.50 per hour) and total fixed overhead costs of $61,875 ($7.50 per hour). Actual costs for October in producing 4,200 units were as follows. Direct materials (4,380 pounds) $ 35,478 Direct labor (6,190 hours) 75,518 Variable overhead 67,030 Fixed overhead 23,170     Total manufacturing costs $201,196 The purchasing department buys…
Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials—1 pound plastic at $6.00 per pound $ 6.00 Direct labor—2.0 hours at $12.20 per hour 24.40 Variable manufacturing overhead 15.00 Fixed manufacturing overhead 13.00 Total standard cost per unit $58.40 The predetermined manufacturing overhead rate is $14.00 per direct labor hour ($28.00 ÷ 2.0). It was computed from a master manufacturing overhead budget based on normal production of 10,000 direct labor hours (5,000 units) for the month. The master budget showed total variable costs of $75,000 ($7.50 per hour) and total fixed overhead costs of $65,000 ($6.50 per hour). Actual costs for October in producing 3,400 units were as follows. Direct materials (3,600 pounds) $ 22,320 Direct labor (6,650 hours) 83,790 Variable overhead 66,638 Fixed overhead 30,462     Total manufacturing costs $203,210 The purchasing department…
Wilson Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials—1 pound plastic at $7.00 per pound $ 7.00 Direct labor—1.6 hours at $12.00 per hour 19.20 Variable manufacturing overhead 12.00 Fixed manufacturing overhead 4.00 Total standard cost per unit $42.20 The predetermined manufacturing overhead rate is $10.00 per direct labor hour ($16.00 ÷ 1.6). It was computed from a master manufacturing overhead budget based on normal production of 8,000 direct labor hours (5,000 units) for the month. The master budget showed total variable costs of $60,000 ($7.50 per hour) and total fixed overhead costs of $20,000 ($2.50 per hour). Actual costs for October in producing 4,800 units were as follows. Direct materials (5,100 pounds) $ 36,720 Direct labor (7,400 hours) 92,500 Variable overhead 59,700 Fixed overhead 21,000     Total manufacturing costs $209,920 The purchasing department…

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	Kgs.	Cost/Unit	Total Cost
Material A	1,500	0.06	90
Material B	625	0.40	250
Material C	1,000	0.25	250

During April, 77,500 tubes were produces from an input of:
	Kgs.	Cost/Unit	Total Cost
Material A	8,750	0.056	490
Material B	3,750	0.380	1,425
Material C	6,250	0.280	1,750