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Hank estimates that 4% of the grape concentrate is wasted, 10% of the sugar is lost, and 25% of the lemons cannot be used.
What cost for wood should have been incurred to make 4,000 chopping blocks? How much greater or less is this than the cost that was incurred?
During August, the company incurs 2,100 hours of direct labor at an hourly cost of $10.80 per hour in making 1,000 units of finished product.
Discuss other cost drivers that could be used as a basis for measuring activity and computing variances for this company.
Hennessey Company produces 12-ounce cans of mixed pecans and cashews.
Compute the budgeted amounts for 2012 for direct materials to be used, direct labor, and applied overhead.
An explanation for the difference between standard and actual cost,be sure that the explanation is consistent with the pattern of the variances.
In November 2010, DayTime Publishing Company's costs and quantities of paper consumed in manufacturing its 2011 Executive Planner and Calendar.
Direct labor personnel worked more carefully than they had in the past to manufacture the product.
Calculate the four conversion cost variances assuming that variable and fixed costs are separated.
The actual cost of aluminum was $0.09 per ounce and the standard price was $0.08 per ounce.
Legumbre Company produces vegetable juices, sold in gallons. Recently, the company adopted the following material standard for one gallon of its tomato juice.
What direct labor cost should have been incurred to prepare 6,000 meals? How much does this differ from the actual direct labor cost?
Alpine Bicycle Company manufactures mountain bikes. The data for May of the current year are available.
There were no direct materials price or direct labor rate variances for October. In addition, assume no changes in the direct materials inventory balances.
At the beginning of the year, Shults Company had the standard cost sheet for one of its plastic products.
What measure(s) might the company take to obtain valid data for setting the labor time standard?
Evaluate the effectiveness of the firm in controlling the current month's costs.
Best Bathware Company manufactures faucets in a small manufacturing facility. The faucets are made from zinc. Manufacturing has 50 employees.
During September 2010, Bobcat Inc. produced 5,100 units of product and recorded 60,000 machine hours.
Compute the costs of leather and direct labor that should be incurred for the production of 40,000 leather belts.
Monthly budgeted fixed overhead is $6,000. Revenues for the month were $55,000, and selling and administrative expenses were $2,000.
The standard fixed overhead cost per unit is $0.50 per hour at 2,500 hours, which is 100% of normal capacity.
The standard price is $6.80 per pound. If 1,500 units required 6,400 pounds, which were purchased at $6.50 per pound.
The purchasing department normally buys the quantities of raw materials that are expected to be used in production each month.