1. Hassan, Inc., is a privately held dresses manufacturer. For Dec. 2021, Hassan hadthe following standards for one of its products, a princess dress:Cost ItemsDirect materialsDirect manufacturing laborStandards per Chair6 square yards of input at $50 persquare yard5 hours of input at $20 per hourThe following data were compiled regarding actual performance: actual output units(Dresses) produced, 4,000 units, square yards of input purchased and used, 24,400,Price per square yard, $49.50. Direct manufacturing labor costs, $370,500; actual hoursof input, 19,000.Required:What is the TOTAL variances for direct materials.O a- 2800 $ FOb- 7800 $ UOc- 7200 $ FOd- 5200 $ UActiva

The standard quantity of direct materials is calculated by multiplying the number of units produced…

Answered: 1. Hassan, Inc., is a privately held…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Dunn, Inc., is a privately held furniture manufacturer. For August 2018, Dunn had the following standards for one of its products, a wicker chair: Standards per Chair Direct materials 2 square yards of input at $5 per square yard Direct manufacturing labor 0.5 hour of input at $10 per hour The following data were compiled regarding actual performance: actual output units (chairs) produced, 2,000; square yards of input purchased and used, 3,700; price per square yard, $5.10; direct manufacturing labor costs, $8,820; actual hours of input, 900; labor price per hour, $9.80. REQUIREMENTS: 1. Show computations of price and efficiency…
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