Business, 18.05.2021 19:30, xid200313

Exercise 24-08 a The following direct materials and direct labor data pertain to the operations of Skysong Company for the month of August. Costs Actual labor rate $15 per hour Actual materials price $190 per ton Standard labor rate $14.50 per hour Standard materials price $193 per ton Quantities Actual hours incurred and used 4,600 hours Actual quantity of materials purchased and used 1,700 tons Standard hours used 4,650 hours Standard quantity of materials used 1,680 tons (a) Compute the total, price, and quantity variances for materials and labor

Answers: 2

Show answers

Answers

answered: bobiscool3698

Total materials variance = $1,240 favorable

Materials price variance = $5,100 favorable

Materials quantity variance = $3,860 unfavorable

Total labor variance = $1,575 unfavorable

Labor price variance = $2,300 unfavorable

labor quantity variance = $725 favorable

Explanation:

Materials Variances

Total materials variance = Standard Cost - Actual Cost

= ($193 x 1,680) - ($190 x 1,700)

= $324,240 - $323,000

= $1,240 favorable

Materials price variance = (Standard Price - Actual Price) x Actual Quantity

= ($193 - $190) x 1,700

= $5,100 favorable

Materials quantity variance = (Standard Quantity - Actual Quantity) x Standard Price

= (1,680 - 1,700) x $193

= $3,860 unfavorable

Labor Variances

Total labor variance = Standard Cost - Actual Cost

= ($14.50 x 4,650) - ($15 x 4,600)

= $67,425 - $69,000

= $1,575 unfavorable

Labor price variance = (Standard rate- Actual rate) x Actual hours

= ($14.50 x $15) x 4,600

= $2,300 unfavorable

labor quantity variance = (Standard hours - Actual hours ) x Standard rate

= (4,650 - 4,600) x $14.50

= $725 favorable

answered: Guest

you have to put the parentheses like this:

$(85-4) \div 9 \times 10$

in fact, you have to perform the operation inside parentheses first, and then proceed in order:

$81 \div 9 \times 10 = 9 \times 10 = 90$

answered: Guest

Hello! first of all this triangle contains a right angle, so therefore it is a right triangle.this triangle also has two sides that have an equal length. therefore it is an isosceles triangle as well.i hope this !

Other questions on the subject: Business

Business, 22.06.2019 05:00, july00

Ajewelry direct sales company pays its consultants based on recruiting new members. question 1 options: the company is running a pyramid scheme, which is illegal. the company is running a pyramid scheme, which is legal. the company has implemented a legal and ethical plan for growth. the company uses this method of compensation to reduce the fee for the product sample kit.

Answers: 3

continue

Business, 22.06.2019 17:40, bsheepicornozj0gc

Within the relevant range, if there is a change in the level of the cost driver, then a. total fixed costs will remain the same and total variable costs will change b. total fixed costs will change and total variable costs will remain the same c. total fixed costs and total variable costs will change d. total fixed costs and total variable costs will remain the same

Answers: 3

continue

Business, 22.06.2019 21:30, lee1677

Which of the following results in an increase in the standard of living? a. an increase in unemployment pushes down the cost of production. b. wages go up to correct for the inflation of prices. c. income increases, enabling consumers to buy more goods and services. d. rising production costs drive up the price of goods and services.

Answers: 1

continue

Business, 22.06.2019 21:50, elijahjacksonrp6z2o7

The third program provides families with $50 in food stamps each week, redeemable for both perishable and nonperishable food. the fourth policy instead provides a family with a box of nonperishable foods each week, worth $50. use two graphs to illustrate that a family may be indifferent between the two programs, but will never prefer the $50 box of nonperishable foods over the $50 in food stamps. state your answer and use a consumer choice model for perishable food and nonperishable food to graphically justify your choice.

Answers: 1

continue

Do you know the correct answer?

Exercise 24-08 a The following direct materials and direct labor data pertain to the operations of S...