Exercise 23-8 The following direct materials and direct labor data pertain to th
ID: 2432519 • Letter: E
Question
Exercise 23-8
The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.
Costs
Quantities
(a)
Compute the total, price, and quantity variances for materials and labor.
Exercise 23-15
Urban Corporation prepared the following variance report.
Fill in the missing amounts or letters in the report. (Round actual and standard price answers to 2 decimal places, e.g. 2.75.)
URBAN CORPORATION
Variance Report—Purchasing Department
For Week Ended January 9, 2017
Type of
Materials
Quantity
Purchased
Actual
Price
Standard
Price
Price
Variance
Explanation
Problem 23-2A (Part Level Submission)
Costs and Production Data
Actual
Standard
(a)
Open Show Work
Problem 23-4A (Part Level Submission)
Kansas Company uses a standard cost accounting system. In 2017, the company produced 27,600 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $12.00. Normal capacity was 50,200 direct labor hours. During the year, 131,700 pounds of raw materials were purchased at $0.91 per pound. All materials purchased were used during the year.
(a)
Open Show Work
Problem 23-5A (Part Level Submission)
(a)
Problem 23-5A (Part Level Submission)
(a)
Costs
Actual labor rate $13 per hour Actual materials price $120 per ton Standard labor rate $12.50 per hour Standard materials price $124 per tonExplanation / Answer
Solution for Question-1
Standard Actual Partixulars Ton/hrs Price/Rate Total Ton/hrs Price/Rate Total Materials 1990 124 246760 2000 120 240000 Labour 4960 12.5 62000 4900 13 63700 308760 303700Related Questions
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