Actual Boxes produced Direct materials used in production 10,000 2,150,000 g Actual direct material cost 60,200 euro Actual direct manufacturing labor-hours Actual direct manufacturing labor cost 1,100 12,650 euro Standards 0.03 euro/g Purchase price of direct materials Materials per box Wage rate Boxes per hour 200 g 12 euro/hour 10 Please respond to the following questions as if you were in an interview situation: 1. Calculate the materials efficiency and price variance and the wage and labor efficiency variances for the month of June. Required 2. Discuss some possible causes of the variances you have calculated. Can you make any possible connection between the material and labor variances? What recommendations do you have for future improvement?

Actual Boxes produced Direct materials used in production 10,000 2,150,000 g Actual direct material cost 60,200 euro Actual direct manufacturing labor-hours Actual direct manufacturing labor cost 1,100 12,650 euro Standards 0.03 euro/g Purchase price of direct materials Materials per box Wage rate Boxes per hour 200 g 12 euro/hour 10 Please respond to the following questions as if you were in an interview situation: 1. Calculate the materials efficiency and price variance and the wage and labor efficiency variances for the month of June. Required 2. Discuss some possible causes of the variances you have calculated. Can you make any possible connection between the material and labor variances? What recommendations do you have for future improvement?

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Description: Possible causes for price and efficiency variances. You have been invited to interview for an internship with an international food manufacturing company. When you arrive for the interview, you are given the following information related to a ctitiou

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 8MC: What is the conversion cost to manufacture insulated travel cups if the costs are: direct materials,...

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ngageNOWv2 | Online teachin X + om/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress... € Compute conversion costs given the following data: direct materials, $363,600; direct labor, $192,400; factory overhead, $204,500 and selling expenses, $35,600. Oa. $396,900 Ob. $568.100 Oc. $168,900 Od. $760,500 8 5/2
gagenown/ilm/takeAssignment/takeAssignmentMain.do?invoker=&ta... A Q eBook Activity Fabrication Assembly Setup Inspecting Production scheduling Purchasing Activity Rate $24 per machine hour $13 per direct labor hour $50 per setup $28 per inspection $14 per production order $11 per purchase order The activity-base usage quantities and units produced for each product were as follows: Elliptical Machines Treadmill 1,687 419 53 Activity Base Machine hours Direct labor hours Setups Elliptical Machines Treadmill 4 Product Costs using Activity Rates Hercules Inc. manufactures elliptical exercise machines and treadmills. The products are produced in its Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows: C 101 Print Item % 15 5 732 $ Inspections Production orders Purchase orders 198 Units produced 286 Use the activity rate…
https://education.aima.in/processOnlineExam.action?onlineAssignmentDefinition.id 1444118538- Google Chrome A education.aima.in/processOnlineExam.action?onlineAssignmentDefinition.id=1444118538 A company produces X, Y and Z from a raw material M. For every 100 tonnes ofM put into production it obtains 50 tons of product X, 30 tons of Y and 15 tons of Z, while 5 tons goes as waste. The selling price of X, Y and z is Rs. 40. Rs, 60 and Rs. 80 per ton. The cost of raw material M is Rs. 20 and variable processing costs are Rs. 10. Variable marketing costs are budgeted to be at the rate of 10 percent of sales value. Budgeted fixed overheads per annum are: Manufacturing - Rs. 40,000, Marketing - Rs. 30,000, and Administration - Rs. 20,000. The company intends to process 10,000 tonnes of material M in the coming year. or Question 21:- Fixed Cost is Rs. a) O 75000 b) O 60000 E c) 90000 d) O 55000 TH NO Question 22:- Contribution is Rs. a) O 12 per unit b) . 15 per unit F c)O 16 per unit d) O 18…
PRACTICE EXERCISE 2: Use a separated sheet of paper for your answer. Prepare for the Projected Cost of Goods Manufactured Schedule of SARS Company for 2020 given the following: Direct Materials: Direct Labor: Manufacturing Overhead: Beginning WIP* Inventory Ending WIP Inventory *WIF is Work in Process P100,000 P50,000 P60,000 P10,000 P30,000
https://2021.tle.courses.open.uwi.edu/mod/quiz/attempt.php?attemp ERSITY OF THE WEST INDIES arning Exchange 2021 English (en) - y courses / ACCI1003 | S2 21/22/ General / ACCI 1003 FINAL ASSESSMENI_ Part 1 The entry to record the cost of raw materials placed in production is: Dr Raw Materials Inventory: Cr Accounts Payable or Cash a. Ob. Dr Manufacturing Overhead; Cr Raw Material Inventory Oc. Dr Work-In-Process; Cr Accounts Payable or Cash O d. Dr Work-In-Process: Cr Raw Materials Inventory -Box PEER ASSESSMENT FORM, ssignment Product Costing, Due April 1, 2022 by 11:00 pm EC Time (10:00 pm Jamaica Time) Jump to.. e here to search
If you have the following information (RO) Cost of production 85000 Opening Stock Closing Stock Raw material 25000 10000 Work in progress 27500 14000 Finished goods 30000 37500 Cost of goods manufactured is:
eBook Show Me How E Print Item Rex Industries has identified three different activities as cost drivers: machine setups, machine hours, and inspections. The overhead and estimated usage are: Compute the overhead rate for each activity. Round your answers to two decimal places. Overhead Overhead Annual Rate per Activity per Activity Usage Activity Machine Setups $162,750 4,200 Machine Hours 381,051 14,113 Inspections 110,550 3,300
1. Answer the following questions by analysing the T-accounts given below, www Materials Inventory Work in Process Inventory $ 18,000 360,000 Ending balance $ 14,000 Beg. balance Beg. balance $ 20,000 230,000 400,000 Ending balance $ 25,000 Direct Labor Finished Goods Inventory $225,000 $ 98,000 $230,000 Ending balance $ 5,000 Beg. balance Ending balance $110,000 Manufacturing Overhead Cost of Goods Sold $400,000 $400,000 a) Purchases of direct material b) The cost of direct material used c) Why does direct labor account has a credit balance of $5000? Explain d) Direct labor costs assigned to production e) The overhead as a percentage of direct labor costs f) Total manufacturing costs charged to the Work in Process Inventory account during the current year g) The cost of finished goods manufactured h) The year-end balance in the Work in Process Inventory account i) The cost of goods sold j) The total amount of inventory listed in the hear-end balance sheet k) Manufacturing overhead…
The cost of materials for product A are as follows. Material W: $2,250 Material X: $3,000 Material Y: $3,600 Material Z: $150 If the material proportions were displayed on a pie chart, how many degrees would material Y represent? A 90 degrees B 120 degrees C 144 degrees D 204 degrees
Evaluating Selected Cost Driver Assume that a manufacturer of specialized machine parts developed the following total cost estimating equation for manufacturing costs. Y = $14,400 + $1,250 (actual units) a. What is total estimated manufacturing costs if 180 units are produced? $Answer 0
(1) calculate the overhead assigned rate (note their order from above): Overhead Cost Items Estimated Overhead Cost Driver Activity Levels Activity Rate Purchasing $70,000 ? ? ? Handling materials $33,350 ? ? ? Machine setups $70,500 ? ? ? Inspections $25,500 ? ? ? Utilities $45,000 ? ? ? (2) calculate the total order cost (again, note their order from above): Activity Cost Drivers Activity Levels Activity Rate Assigned Costs ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Total Order Cost ?
Question Content Area Compute conversion costs given the following data: direct materials, $376,200; direct labor, $200,400; factory overhead, $179,400 and selling expenses, $48,400. a. $555,600 b. $131,000 c. $756,000 d. $379,800