Reconstructing standard-cost information
Course:- Managerial Accounting
Reference No.:- EM1349711

Assignment Help
Assignment Help >> Managerial Accounting

Part of your company's accounting database was destroyed when Godzilla attacked the city. You have been able to gather the following data from your files. Reconstruct the remaining information using the available data. All of the raw material purchased during the period was used in production. (Hint: It is helpful to solve for the unknowns in order indicated by the letters in the following table.

Direct Material Direct Labor
Standard price or rater per unit of input $16/lb e
Standard quantity per unit of output c f
Actual quantity used per unit of output a 3.5 hours
Actual price or rate per unit of input $14/lb $21/hour
Actual output 20,000 units 20,000 units
Direct-material price variance $120,000 F -
Direct-material quantity variance b -
Total of direct-material variances $40,000 -
Direct-labor rate variance - d
Direct-labor efficiency variance - $200,000 F
Total of direct-labor variances - $130,000F

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Managerial Accounting) Materials
Rebecca meets with the managers of each location each month to review operations results. this meeting, the manager must present a projection of operations for the coming mo
Prepare a report that shows the effect on the company's total net operating income of buying part A55 from the supplier rather than continuing to make it inside the company.
If a company sells a product at $60.00 per unit that has unit variable costs of $40.00 The co break-even sales volume is $120,000 How much profit will the company make if it
X-Game Company's production manager is considering whether to investigate a computer-integrated manufacturing process. Should management investigate the process? Why or why
Calculate the expected profit and rate of return on investment for each division and for the company as a whole in the coming year, if Division B purchases its motors from D
Compute the total cost per equivalent unit for the month. (Round your answer to 2 decimal places.) Compute the equivalent units of material and of conversion costs in the endi
What is a rolling budget? Why are they prepared? Describe why some types of companies would employ a rolling budget instead of a master budget.
Explain why the internal control practice of separation of duties failed to prevent the fraudulent reporting - Identify and discuss the elements of the fraud triangle that m