Determine the amounts standard quantity of material

Assignment Help Cost Accounting
Reference no: EM13553578

Surgical Products produces latex surgical gloves. Machines perform the majority of the processing for 1,000 pairs of gloves per hour. Each pair of gloves requires 0.85 square foot of latex, which has a standard price of $0.80 per square foot. Machine operators are considered direct labor and are paid $15 per hour.

During one week in May, Surgical Products produced 300,000 pairs of gloves and experienced a $1,440 unfavorable material quantity variance. The company had purchased 2,500 more square feet of material than had been used in production that week. The unfavorable material price variance for the week was $5,186. A $288 unfavorable total labor variance was generated based on 315 total actual labor hours to produce the gloves. Determine the following amounts:

a. Standard quantity of material for production achieved
b. Actual quantity of material used
c. Actual quantity of material purchased
d. Actual price of material purchased
e. Standard hours for actual production
f. Labor efficiency variance
g. Labor rate variance
h. Actual labor rate

Reference no: EM13553578

Questions Cloud

How far apart do the two lightning bolts strike : During a wicked thunderstorm, Sam sees two bolts of lightning simultaneously strike two points 5.66 m apart. how far apart do the two lightning bolts strike
Find the speed of each spaceship as measured on earth : Two spaceships approach each other, each moving with the same speed as measured by an observer on the Earth. find the speed of each spaceship as measured on Earth
Evaluate the boiling point of 0.175 m mgf2 : Calculate the boiling point of 0.175 m MgF2. I figured out the freezing point and it is -.0977 C, but i cannot figure out the boiling point.
Find the net rate at which the sphere radiates energy : A sphere that is a perfect blackbody radiator has a radius of 0.080 m and is at 250°C in a room where the temperature is 29°C. find the net rate at which the sphere radiates energy
Determine the amounts standard quantity of material : Determine the amounts Standard quantity of material for production achieved, actual quantity of material used and Actual quantity of material purchased
Determine what is the kinetic energy of the alpha particle : An alpha particle (?) has a rest mass m = 6.64x10-27 kg. What is the kinetic energy K of the alpha particle at this speed
Calculate the amount of net income to common shareholders : Calculate the amount of net income to common shareholders derived from the excess return on creditors' capital and the amount from the return on common shareholders' capital.
Balances of the accounts affected by the adjusting entries : Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance - Journalize the adjusting entries using the additional accounts
What is the rate at which energy is transferred by heat : A glass windowpane in a home is 0.62 cm thick and has dimensions of 1.2 m 2.4 m. On a certain day, What is the rate at which energy is transferred by heat through the glass

Reviews

Write a Review

Cost Accounting Questions & Answers

  Assignment detailsyou are the financial accountant for a

assignment detailsyou are the financial accountant for a mid-sized company and you have been briefed on a meeting that

  Complete the company flexible budget for october

Complete the company flexible budget for October - The company actually washed 8,400 cars in October and to collect an average of $6.80 per car washed.

  Problem 1patrick zimbrick and his son dan own all of the

problem 1patrick zimbrick and his son dan own all of the outstanding stock of osprey corporation. both dan and patrick

  Fazer groupfazer is probably most known for its chocolate

fazer groupfazer is probably most known for its chocolate. below is the link to the companys homepage.requiredgo to

  Prepare journal entries

CASE 1: Sanders cycle company job order costing,  Prepare journal entries, with supporting calculations if necessary, to record the following events during December.

  Prepare a memo for your firm files describing the results

Emerald Corporation must change its method of accounting for Federal income tax purposes. The change will require that an adjustment to income be made over three tax periods.

  Hellas pty ltd had the following balances on the 1st of

hellas pty. ltd had the following balances on the 1st of july 2013materials control direct and indirect materials 5000

  Terry marks is a well-known architectnbsp he wants to start

terry marks is a well-known architect.nbsp he wants to start his own business and convinces rob norris his cousin and a

  Compute total dividends paid to preferred shareholders

Compute the total dividends paid to preferred shareholders and to common shareholders in both years, assuming that (1) the preferred stock is noncumulative and (2) the preferred stock is cumulative.

  Hasselback inc produced 175000 units and prepared the

hasselback inc. produced 175000 units and prepared the following income report using absorption costing numbers in

  Illustrates the stock price of each company

Provide an overall financial analysis for each company that highlights the key characteristics for investment and how this may impact an investor's decision.

  Classifying cash flows

Identify whether each of the following would be reported as an operating, investing or financing activity in the statement of cash flows.

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