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Natali5045456 [20]
3 years ago
13

Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an ela

borate distilling process. The company has developed standard costs for one unit of Fludex, as follows:
Standard Quantity Standard Price
or Rate Standard Cost
Direct materials 2.00 ounces $ 30.00 per ounce $ 60.00
Direct labor 0.50 hours $ 14.00 per hour 7.00
Variable manufacturing overhead 0.50 hours $ 3.40 per hour 1.70

$ 68.70

During November, the following activity was recorded relative to production of Fludex:


a. Materials purchased, 10,000 ounces at a cost of $287,000.
b.
There was no beginning inventory of materials; however, at the end of the month, 3,000 ounces of material remained in ending inventory.

c.
The company employs 20 lab technicians to work on the production of Fludex. During November, they worked an average of 130 hours at an average rate of $12.00 per hour.

d.
Variable manufacturing overhead is assigned to Fludex on the basis of direct labor-hours. Variable manufacturing overhead costs during November totaled $4,700.

e. During November, 3,400 good units of Fludex were produced .
Required:
1. For direct materials:
a.
Compute the price and quantity variances. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e, zero variance).)



b. The materials were purchased from a new supplier who is anxious to enter into a long-term purchase contract. Would you recommend that the company sign the contract?
Yes
No
2. For direct labor:
a.
Compute the rate and efficiency variances. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e, zero variance).)




b.
In the past, the 20 technicians employed in the production of Fludex consisted of 4 senior technicians and 16 assistants. During November, the company experimented with fewer senior technicians and more assistants in order to save costs. Would you recommend that the new labor mix be continued?

Yes
No


3.
Compute the variable overhead rate and efficiency variances. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e, zero variance).)

Business
1 answer:
MAXImum [283]3 years ago
7 0

Answer and explanation:

Find attached below is a well formatted excel sheet containing all the required answers

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Yes Gordon can sue Floors n' Mores for the settlement of the contract keeping in mind that Gordon has made partial completion of the contract. Full payment would be determined based on the completion of the total work in line withe the plans submitted when the contract was signed

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M9.5 Peter Sagan is in charge of maintaining hospital supplies at Champs Hospital. During the past year the mean weekly demand f
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$38,000

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100% / 10 years x 2 = 20%

First, we will compute the 2021 depreciation for us to know our base amount on year 2022.

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