Calculate the direct materials price and quantity variances

Assignment Help Financial Accounting
Reference no: EM13129160

Huron company produce a commercial cleaning now as Zoom the direct material and direct labor standards for?

direct materials standard quality or hours 4.6 lbs standard price or rate $2.50 per lb Standard cost $11.50 direct labor standard quality or hours 0.2 hours standard price or rate $12.00 per hour Standard cost $2.40 during the month the following activity was recorded; 20.000 lbs of material were purchased @ $2.35 per lb all the material purchased was used to produce 4,000 units of Zoom 750 hours of direct labor time was recorded at a total labor cost of $10,425 compute the direct materials price and quantity variances fr the month Compute the direct labor rate and efficiency variances fir the month.

Reference no: EM13129160

Questions Cloud

Illustrate what if jim loan had : What about to Jim? Illustrate what if Jim’s loan had been $25,000 instead of $12,000 and Sally hadn’t repaid a dime before Jim decided to forgive the balance?
Qualify for like-kind exchange treatment : What requirements must be met for property to qualify for like-kind exchange treatment?
Is the machine an acceptable investment : edward company's required rate of return is 15%. the company can purchase a new machine at cost 40,350/. the new machine would generate cash inflows of 15,000 per year and have a four-year life with no salvage value. compute the machine's net pres..
Illustrate what was the cost of the units sold : A company had inventory of 8 units at a cost of $12 each on December 1. On December 2, they purchased 8 units at $21 each. On December 6 they purchased 7 units at $23 each. On December 8, they sold 18 units for $52 each. Using the LIFO perpetual i..
Calculate the direct materials price and quantity variances : Calculate the direct materials price and quantity variances fr the month Compute the direct labor rate and efficiency variances fir the month.
Which is accounted for as a change in accounting principle : Which of the following is accounted for as a change in accounting principle?
Oldest of all literary forms : What is the oldest of all literary forms?
Activity-based budgeting : Activity-based budgeting includes all the following steps EXCEPT:

Reviews

Write a Review

Financial Accounting Questions & Answers

  The capital projects fund was terminated

The unjustified portion of the grant was refunded to the state the remaining cash was transferred to the General Fund, and the Capital Projects Fund was terminated

  Determine the annual interest rate on note

What is the annual interest rate on Note A and Collections of accounts receivable that previously have been written off

  Illustrate amount should be reported as unamortized bond

Illustrate what amount should be reported as Unamortized Bond Issue Costs?

  Describe the evolving accounting standards for recording

Describe the evolving accounting standards for recording and translating foreign exchange related transactions and financial statements?

  Will this method yield a valid estimate of incremental cost

He took the unit cost for an equivalent whole unit you completed in (3) above and multiplied this figure by 1,000. Will this method yield a valid estimate of incremental cost? Explain.

  Evaluate effect on classification and carrying value

Evaluate the effect on classification, carrying value, and earnings for each of the given situations. Discuss whether U.S. GAAP under SFAS No. 115 or the needs of IAS.

  Illustrate what amount should mill recognize as gross profit

In connection with this contract, Mill incurred $2,000,000 of construction costs during 1996. Mill billed and collected $3,000,000 from Drew in 1996. Illustrate what amount should Mill recognize as gross profit for 1996?

  Effect on the contribution margin per unit

Effect on the contribution margin per unit and the contribution margin ratio and calculation used in a CVP analysis is the breakeven point.

  Make an operating budget

Purpose a cash Budget for the first two quarters and make an operating budget for the first and second quarters of operations of Terry's Equipment Center.

  Find the differential cost between the two alternatives

Which costs are relevant and which are not relevant in the choice between these two alternatives and find the differential cost between the two alternatives?

  Illustrate at what price was the bond issued

The bond pays interest twice per year, on June 30 and December 31. Illustrate at what price was the bond issued?

  Identification of several factors of materiality

Identification of several factors of materiality and Identify several factors considered by an accountant in deciding whether an item is "material."

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd