ss Exercise 10-1 (Algo) Direct Materials Variances [LO10-1]Bandar industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic.During the quarter ending June 30, the company manufactured 3,600 helmets, using 2,592 kilograms of plastic. The plastic cost thecompany $19,699.According to the standard cost card, each helmet should require 0.63 kilograms of plastic, at a cost of $8.00 per kilogram.Required:1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,600 helmets?2. What is the standard materials cost allowed (SQ SP) to make 3,600 helmets?3. What is the materials spending variance?4. What is the materials price variance and the materials quantity variance?(For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" forno effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.)1. Standard quantity of kilograms allowed2. Standard cost allowed for actual output3. Materials spending variance4. Materials price variance i4. Materials quantity variance

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Principles of Accounting Volume 2

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Chapter8: Standard Costs And Variances

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Problem 5PA: Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but...

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Exercise 10-1 (Algo) Direct Materials Variances [LO10-1] Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,000 helmets, using 2,040 kilograms of plastic. The plastic cost the company $15,504. According to the standard cost card, each helmet should require 0.59 kilogram of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,000 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 3,000 helmets? 3. What is the materials spending variance? 4. What are the materials price variance and the materials quantity variance? Note: For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round…
ces Exercise 9-4 (Algo) Direct Materials Variances [LO9-4] Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,600 helmets, using 2,412 kilograms of plastic. The plastic cost the company $15,919. According to the standard cost card, each helmet should require 0.60 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,600 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3,600 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? Mc Graw Hill (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).…
Exercise 9-4 (Algo) Direct Materials Variances [LO9-4] Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,500 helmets, using 2,310 kilograms of plastic. The plastic cost the company $15,246. According to the standard cost card, each helmet should require 0.57 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,500 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3,500 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero varlance). Input all amounts…
Exercise 9-4 (Algo) Direct Materials Variances [LO9-4] Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,100 helmets, using 1,984 kilograms of plastic. The plastic cost the company $15,078. According to the standard cost card, each helmet should require 0.58 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,100 helmets? 2. What is the standard materials cost allowed (SQ SP) to make 3,100 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as…
Direct Materials Variances Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company’s products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 35,000 helmets, using 22,500 kilograms of plastic. The plastic cost the company $171,000. According to the standard cost card, each helmet should require 0.6 kilograms of plastic, at a cost of $8 per kilogram. Required: 1. What is die standard quantity of kilograms of plastic (SQ) that is allowed to make 35,000 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 35,000 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance?
question1 Weald Corporation manufactures Calculators. Each calculator requires 4 units of Part EZ52, which has a standard cost of Rs.1.45 per unit. During May, the company purchased 12,000 units of the part for a total of Rs.18,000. Also during May, the company manufactured 3,000 calculators, using 10,000 units of part EZ52. The direct materials purchases variance is computed when the materials are purchased. Calculate materials quantity variance during May, for part EZ52 was:question2: Casa Furniture manufactures chairs. The cost accounting system estimates manufacturing costs to be $80 per table, consisting of 60% variable costs and 40% fixed costs. The company has surplus capacity available. It is Purple Trees' policy to add a 50% markup to full costs. please be fast please A large hotel chain is currently expanding and has decided to decorate all new hotels using the new furniture. Casa is invited to submit a bid to the hotel chain. What per unit price will Casa most likely bid…
s Exercise 9-4 Direct Materials Variances [LO9-4] Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,800 helmets, using 2,622 kilograms of plastic. The plastic cost the company $19,927. According to the standard cost card, each helmet should require 0.60 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,800 helmets? 2. What is the standard materials cost allowed (SQ SP) to make 3,800 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Input all amounts as…
Saved gnment-Variance Analysis i Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,600 helmets, using 2,592 kilograms of plastic. The plastic cost the company $17,107. According to the standard cost card, each helmet should require 0.65 kilograms of plastic, at a cost of $700 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,600 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3,600 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1.…
Problem 10-9 (Algo) Comprehensive Variance Analysis [LO10-1, LO10-2, LO10-3] Marvel Parts, Incorporated, manufactures auto accessories including a set of seat covers that can be adjusted to fit most cars. According to its standards, the factory should work 1,045 hours each month to produce 2,090 sets of seat covers. The standard costs associated with this level of production are: Per Set of Total Direct materials $ 49,533 Direct labor $ 10,450 Covers $ 23.70 5.00 Variable manufacturing overhead (based on direct labor-hours) $ 4,598 2.20 $ 30.90 During August, the factory worked 800 direct labor-hours and produced 1,900 sets of covers. The following actual costs were recorded during the month: Per Set of Total Direct materials (6,500 yards) Direct labor $ 44,460 Variable manufacturing overhead $ 9,880 $ 4,560 Covers $ 23.40 5.20 2.40 $ 31.00 At standard, each set of covers should require 3.0 yards of material. All of the materials purchased during the month were used in production.…
Problem 9-24 (Algo) Comprehensive Variance Analysis [LO9-4, LO9-5, LO9-6] Marvel Parts, Incorporated, manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company uses a standard cost system for all of its products. According to the standards that have been set for the seat covers, the factory should work 1,040 hours each month to produce 2,080 sets of covers. The standard costs associated with this level of production are: Direct materials Direct labor Variable manufacturing overhead (based on direct labor-hours) Direct materials (5,000 yards) Direct labor Variable manufacturing overhead During August, the factory worked only 600 direct labor-hours and produced 1,800 sets of covers. The following actual costs were recorded during the month: Total $ 40,560 $ 7,280 $ 4,160 E R Total $ 34,200 $ 6,660 $ 4,140 < Prev Per Set of Covers $19.50 3.50 At standard, each set of covers should require 2.5 yards of…
Exercise 16-48 (Algo) (Appendix used in requirement [c]) Comprehensive Cost Variance Analysis (LO 16-5, 6, 7) Maple Leaf Production manufactures truck tires. The following information is available for the last operating period. Maple Leaf produced and sold 93,000 tires for $36 each. Budgeted production was 97,000 tires. Standard variable costs per tire follow. Direct materials: 4 pounds at $2.00 $ 8.00 Direct labor: 0.35 hours at $15.00 5.25 Variable production overhead: 0.10 machine-hours at $15 per hour 1.50 Total variable costs $ 14.75 Fixed production overhead costs: Monthly budget $1,458,000 Fixed overhead is applied at the rate of $16.00 per tire. Actual production costs: Direct materials purchased and used: 397,000 pounds at $1.70 $ 674,900 Direct labor: 28,500 hours at $15.30 436,050 Variable overhead: 11,000 machine-hours at $15.70 per hour 172,700 Fixed overhead 1,459,000…
Required information Use the following information for the Quick Study below. (Algo) (The following information applies to the questions displayed below] BatCo makes baseball bats. Each bat requires 1.00 pounds of wood at $18 per pound and 0.25 direct labor hour at $20 per hour, Overhead is assigned at the rate of $40 per direct labor hour. QS 21-6 (Algo) Total Cost variances LO P2 Assume the actual cost to manufacture 130 bats is $4,940.00. Compute the total cost variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Actual cost Budgeted standard cost Total cost variance

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