Question
At the beginning of June, Kimber Toy Company budgeted 24,000 toy action figures to be manufactured...
At the beginning of June, Kimber Toy Company budgeted 24,000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows:
| Direct materials | $30,000 |
| Direct labor | 18,480 |
| Total | $48,480 |
The standard materials price is $0.50 per pound. The standard direct labor rate is $11.00 per hour. At the end of June, the actual direct materials and direct labor costs were as follows:
| Actual direct materials | $28,500 |
| Actual direct labor | 17,500 |
| Total | $46,000 |
There were no direct materials price or direct labor rate variances for June. In addition, assume no changes in the direct materials inventory balances in June. Kimber Toy Company actually produced 22,100 units during June.
Determine the direct materials quantity and direct labor time variances. Round your per unit computations to two decimal places, if required. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
| Direct materials quantity variance | $ | |
| Direct labor time variance | $ |
Answers
(1)
direct Material quantity variance = standard price x (standard quantity - actual quantity used)
= $0.50 x (60000 - 57000)
= $1500 Favorable
Where,
Standard quantity = $30000/$0.50 = 60000 units
actual quantity = $28500/$0.50 = 57000 units
Note: There were no direct materials price variances
(2)
direct Labor time variance = standard rate x (standard hours - actual hours)
= $11 x (1680 - 1591)
= $91 Favorable
Where,
Standard hours = $18480/$11 = 1680 hours
actual hours = $17500/$11 = 1591 hours
note = There were no direct labor rate variances
Similar Solved Questions
1 answers
ABC Versus ABM Harvey Company produces two models of blenders: the "Super Model” (priced at $396)...
ABC Versus ABM Harvey Company produces two models of blenders: the "Super Model” (priced at $396) and the "Special Model" (priced at $203). Recently, Harvey has been losing market share with its Special Model because of competitors offering blenders with the same quality and featur...
1 answers
Part C For the reaction 4Cr(s) + 302(g) + 2Cr2O3(s) calculate how many grams of the...
Part C For the reaction 4Cr(s) + 302(g) + 2Cr2O3(s) calculate how many grams of the product form when 20.4 g of O2 completely reacts. Assume that there is more than enough of the other reactant. I ALQ R O ?...
1 answers
Score: 0 of 1 pt 17 of 20 (12 complete) HW Score: 53.2%, 10.64 of 20...
Score: 0 of 1 pt 17 of 20 (12 complete) HW Score: 53.2%, 10.64 of 20 pts 2.6.115 Question Help * Give the percentage of measurements in a data set that are above and below each of the following percentiles. a. 85th percentile c.30th percentile b. 50th percentile d. 64th percentile a. There are % of ...
1 answers
MULTIPLE CHOICE Select the best answer. 11. This drug is used in solution to irrigate blood...
MULTIPLE CHOICE Select the best answer. 11. This drug is used in solution to irrigate blood vessels during anastomosis. a. Saline for irrigation b. Topical thrombin c. 25% Vispaque d. Heparinized saline 12. This drug stimulates the body's clotting mechanism. a. Thrombin b. Low molecular weight h...
1 answers
Which advertising/promotional approach would be the most effective in the promotion of a Disney Cruise out...
which advertising/promotional approach would be the most effective in the promotion of a Disney Cruise out of Port Canaveral Florida and why.?...
1 answers
Answers typed 38 . . . . Given the o t her CAS ) CI+SO )...
answers typed 38 . . . . Given the o t her CAS ) CI+SO ) WhenNes, to the gym , how (1) The mount of CASO the concern ) Wilder , of will Practice Questions -.-.-.- Given the equilibrium reaction is a closed H eheat 2 HP) What will be the result of an increase in empre! (1) The equilibrium will hit to...
1 answers
From the data, what is the rate law for the reaction? #"CHCl"_3(g) + "Cl"_2(g) -> "CCl"_4(g) + "HCl"(g)#
The following concentrations are in #"M"#. #ul(["CHCl"_3]" "" "["Cl"_2]" "" "r(t)("M/s"))# #0.010" "" "" "0.010" "" "0.0035# #0.020" "" "" "0.010" "" "0.006...
1 answers
9-22 ABSORPTION VERSUS VARIABLE COSTING. Electron Inc. is a semiconductor company based in Winnipeg. In 2018,...
9-22 ABSORPTION VERSUS VARIABLE COSTING. Electron Inc. is a semiconductor company based in Winnipeg. In 2018, it produced a new router system for its corporate clients. The average wholesale selling price of the system is 51,200 each. For 2018, Electron estimates that it will sell 10.000 router syst...
1 answers
Question 13 --/1 View Policies Current Attempt in Progress port Materials costs of $1100000 and conversion...
Question 13 --/1 View Policies Current Attempt in Progress port Materials costs of $1100000 and conversion costs of $1540000 were charged to a processing department in the month of September. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughou...
1 answers
A manufacturer of LCD projector light bulbs is testing a new light bulb manufacturing process. They...
A manufacturer of LCD projector light bulbs is testing a new light bulb manufacturing process. They want to improve the longevity of these light bulbs they produce. However, due to the high cost associates with switching over to the new manufacturing process, they can only do so if there is clear ev...
1 answers
Chapter 2 Pulmonary disorder case study 27 question 11: That afternoon, a powerful storm causes a...
chapter 2 Pulmonary disorder case study 27 question 11: That afternoon, a powerful storm causes a power failure. what should you do? chapter 2 Pulmonary Disorders Case Study 27 8. What should your next actions be? (apl 9. You note that the tissue surrounding the incision is edematous. As you pal...
1 answers
Suppose , obtain the value of S if d=7, g=0.04, k=0.07, and n=22. Round your final...
Suppose , obtain the value of S if d=7, g=0.04, k=0.07, and n=22. Round your final answer to two decimal places....
1 answers
LO.2. In 2019, the taxpayer became ineligible to use the cash method of accounting. At the...
LO.2. In 2019, the taxpayer became ineligible to use the cash method of accounting. At the beginning of the year, accounts receivable totaled $240,000, accounts payable for merchandise totaled $80,000, and the inventory on hand totaled $320,000. What is the amount of the adjustment due to the change...
1 answers
Figure 242 a) A 10 (ti Figure 24.6 The execution of Dijkstra's algorithm. The source s...
Figure 242 a) A 10 (ti Figure 24.6 The execution of Dijkstra's algorithm. The source s is the leftmost vertex. The shortest-path estimates are shown within the vertices, and shaded edges indicate predecessor vail- ues. Black vertices are in the set S. and white vertices are in the min-priority q...
1 answers
A person jumps from a window 29 meters high and is caught in a firefighter's net...
A person jumps from a window 29 meters high and is caught in a firefighter's net which stretches 0.6 meter. To the nearest m/s^2, what is the magnitude of the person's acceleration in the net?...
1 answers
1 bias V. out 2 2:1 mirror 6:52 PMw Variahle 2:1 mirror S Transistor PMOS Transistor Variable NMO 1 00 0.5 0.10 35 0.5 0.20 VT (V) A (1M) L (um) Vdd is 3V The bias current is 40μΑ the bias voltag...
1 bias V. out 2 2:1 mirror 6:52 PMw Variahle 2:1 mirror S Transistor PMOS Transistor Variable NMO 1 00 0.5 0.10 35 0.5 0.20 VT (V) A (1M) L (um) Vdd is 3V The bias current is 40μΑ the bias voltage at the rot. Vin-is2.8V, and thie voltage ut port a is O.7V. The load capacitance (CL) is Sp Th...
1 answers
A tuning fork vibrating at 512 Hz falls from rest and accelerates at 9.80 m/s 2...
A tuning fork vibrating at 512 Hz falls from rest and accelerates at 9.80 m/s 2 . How far below the point of release is the tuning fork when waves of frequency 485 Hz reach the release point? Hint: The speed of sound is 343 m/s...
1 answers
1. A simple harmonic motion of an object of mass m = 11 kg attached with...
1. A simple harmonic motion of an object of mass m = 11 kg attached with a spring is represented as time vs displacement graph in the following figure. Find the following parameters. AM -1.5m (a) Amplitude = (b) Time Period = ( time for 1 wavelength distance) (c) Frequency = (d) Spring Constant = (e...
1 answers
Question 30 Classify the following molecules as aldehydes or ketones or neither. [Select ] сен,сен,сен, CH,CCH,CH,CHE...
Question 30 Classify the following molecules as aldehydes or ketones or neither. [Select ] сен,сен,сен, CH,CCH,CH,CHE [Select] CH,CH,CH=CH2 [ Select ] CH,CH,CH.CH [ Select ] OFCH Т. CH3CHCHE...