Question : 47) The following data for the Panoid Garden Supplies Company : 1212135

 

47) The following data for the Panoid Garden Supplies Company pertains to the production of 2,000 garden spades during March. The spade consists of a wooden handle and a metal forged tool that comes in contact with the ground.

 

Direct Materials (all materials purchased were used):

 

Standard cost: $1.00 per handle and $3.00 per metal tool.

Total actual cost: $9,000.

Materials flexible-budget efficiency variance was $500 unfavorable.

 

Direct Manufacturing Labor:

 

Standard cost is 5 garden spades per hour at $20.00 per hour.

Actual cost per hour was $21.00.

Labor efficiency variance was $500 favorable.

 

Required:

a.What is the standard direct material amount per garden spade?

b.What is the standard cost allowed for all units produced?

c.What is the total direct materials flexible-budget variance?

d.What is the direct material flexible-budget price variance?

e.What is the total actual cost of direct manufacturing labor?

f.What is the labor price variance for direct manufacturing labor?

48) The following data for the telephone company pertain to the production of 450 rolls of telephone wire during June. Selected items are omitted because the costing records were lost in a windstorm.

 

Direct Materials (All materials purchased were used.)

 

Standard cost per roll:     a    pounds at $4.00 per pound.

Total actual cost:     b    pounds costing $9,600.

Standard cost allowed for units produced was $9,000.

Materials price variance:     c   .

Materials efficiency variance was $80 unfavorable.

 

Direct Manufacturing Labor

 

Standard cost is 3 hours per roll at $8.00 per hour.

Actual cost per hour was $8.25.

Total actual cost:     d   .

Labor price variance:     e   .

Labor efficiency variance was $400 unfavorable.

 

Required:

Compute the missing elements in the report represented by the lettered items.

 

49) Littrell Company produces chairs and has determined the following direct cost categories and budgeted amounts:

 

Standard InputsStandard Cost

Categoryfor 1 outputper input

Direct Materials1.00$7.50

Direct Labor0.309.00

Direct Marketing0.503.00

 

Actual performance for the company is shown below:

 

Actual output: (in units)4,000

Direct Materials:

Materials costs$30,225

Input purchased and used3,900

Actual price per input$7.75

Direct Manufacturing Labor:

Labor costs$11,470

Labor-hours of input1,240

Actual price per hour$9.25

Direct Marketing Labor:

Labor costs$5,880

Labor-hours of input2,100

Actual price per hour$2.80

 

Required:

a.What is the combined total of the flexible-budget variances?

b.What is the price variance of the direct materials?

c.What is the price variance of the direct manufacturing labor and the direct marketing labor, respectively?

d.What is the efficiency variance for direct materials?

e.What are the efficiency variances for direct manufacturing labor and direct marketing labor, respectively?

 

 

 

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