Ragtime Company had the following information for the year:
Direct materials used $117,7...
Business, 20.02.2020 21:56, kerriscaballero12
Ragtime Company had the following information for the year:
Direct materials used $117,700
Direct labor incurred (5,100 hours) $153,800
Actual manufacturing overhead incurred $174,200
Ragtime Company used a predetermined overhead rate of $36 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of $17,900. What was cost of goods manufactured?
a. $437,200
b. $445,700
c. $271,500
d. $455,600
Answers: 3
Business, 21.06.2019 21:30, AquariusOx
Price and efficiency variances, journal entries. the schuyler corporation manufactures lamps. it has set up the following standards per finished unit for direct materials and direct manufacturing labor: direct materials: 10 lb. at $4.50 per lb. $45.00 direct manufacturing labor: 0.5 hour at $30 per hour 15.00 the number of finished units budgeted for january 2017 was 10,000; 9,850 units were actually produced. actual results in january 2017 were as follows: direct materials: 98,055 lb. used direct manufacturing labor: 4,900 hours $154,350 assume that there was no beginning inventory of either direct materials or finished units. during the month, materials purchased amounted to 100,000 lb., at a total cost of $465,000. input price variances are isolated upon purchase. input-efficiency variances are isolated at the time of usage. 1. compute the january 2017 price and efficiency variances of direct materials and direct manufacturing labor. 2. prepare journal entries to record the variances in requirement 1. 3. comment on the january 2017 price and efficiency variances of schuyler corporation. 4. why might schuyler calculate direct materials price variances and direct materials efficiency variances with reference to different points in time
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Business, 22.06.2019 19:50, alexdziob01
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