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tester [92]
3 years ago
12

TB MC Qu. 9-291 Kartman Corporation makes a product with ... Kartman Corporation makes a product with the following standard cos

ts: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 8.2 pounds $ 8.70 per pound $ 71.34 Direct labor 0.3 hours $ 41.00 per hour $ 12.30 Variable overhead 0.3 hours $ 5.70 per hour $ 1.71 In June the company's budgeted production was 5,100 units but the actual production was 5,200 units. The company used 23,850 pounds of the direct material and 2,460 direct labor-hours to produce this output. During the month, the company purchased 27,100 pounds of the direct material at a cost of $187,180. The actual direct labor cost was $58,721 and the actual variable overhead cost was $13,331. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for June is:
Business
1 answer:
Lostsunrise [7]3 years ago
3 0

Answer:

Variable manufacturing overhead rate variance= $688.8 favorable

Explanation:

Giving the following information:

Variable overhead 0.3 hours $5.70 per hour

The company used 2,460 direct labor-hours to produce this output. The actual variable overhead cost was $13,331.

<u>To calculate the variable overhead rate variance, we need to use the following formula:</u>

Variable manufacturing overhead rate variance= (standard rate - actual rate)* actual quantity

Actual rate= 13,331/2,460= $5.42

Variable manufacturing overhead rate variance= (5.7 - 5.42)*2,460

Variable manufacturing overhead rate variance= $688.8 favorable

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Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $8. Merchandise transactions fo
makkiz [27]

Answer and Explanation:

Ferris Company

1. Average cost periodic

Dollars $48,000+$ 105,000

= $153,000

Units $11,000+$6,000

= $17,000

153,000 / 17,000 = $9.00 Cost per unit

Cost of Goods Sold:

9,000 units × $9.00= $81,000

Ending Inventory:

8,000 units × $9.00= $72,000

2. Average cost perpetual Jan 5th sales

Dollars 48,000

Units 6000

48,000 / 6,000 = $8.00 Cost per unit

Cost of goods Sold:

3,000 units × $8.00= $24,000

Ending Inventory:

3,000 units × $8.00= $24,000

3. Average cost perpetual Jan 12th sales

Dollars 69,000

Units 8000

69,000 / 8,000 = $8.625 Cost per unit

Cost of Goods Sold:

2,000 units × $8.625

= $17,250

Ending Inventory:

6,000 units × $8.625

= $51,750

4. Average cost perpetual Jan 20th sales

Dollars 60,000+51,750

=111,750

Units 6000+6000

=12,000

111,750 / 12,000 = $9.3125 Cost per unit

Cost of Goods Sold:4,000 units ×$9.3125= $37,250

Ending Inventory:8,000 units × $9.3125= $74,500

Summary of Average Cost Perpetual

Cost of Goods Sold:

Jan 5 3,000 units= $24,000

Jan 12 2,000 units= 17,250

Jan 20 4,000units = 37,250

Total 9,000units = $78,500

Summary of Results

Cost ofGoods Sold EndingInventory

FIFO, Periodic $ 75,000 $78,000

LIFO, Periodic$87,000 $66,000

LIFO, Perpetual $82,000 $71,000

Average Cost, Periodic $81,000 $72,000

Average Cost, Perpetual $78,500 $74,500

8 0
2 years ago
Anne Mullens is the bookkeeper for DWG Refrigeration Repair. One afternoon while she was preparing the bank deposit, a customer
vesna_86 [32]

Answer:

Anne Mullens committed embezzlement.

Explanation:

Embezzlement is defined as misappropriation of funds by someone with whom funds have been entrusted.

It is a theft as the money does not belong to the perpetrator. The perpetrator is only entrusted with funds.

One of the conditions for embezzlement is an existence of a fiduciary (trust) relationship between parties.

In the given case, Anne Mullens pocketed $57 cash from recorded amount instead of recording 57$ customer's payment via check. Instead she included the customer's check in the money to be taken to bank.

This is embezzlement of funds by Anne.

7 0
3 years ago
Nor Corporation borrowed money using a discounted note at 94 with a stated 6% interest rate and a face amount of $400,000. What
kolezko [41]

Answer:

the effective rate of interest on the debt is 6.38%

Explanation:

The computation of the effective rate of interest on the debt is shown below:

Effective rate of interest is

= ($400,000 × 6%) ÷ ($400,000 × 0.94)

= $24,000 ÷ $37,600

= 6.38%

Hence, the effective rate of interest on the debt is 6.38%

It could be determined by applying the above formula so that the correct rate could come

8 0
3 years ago
Which of these is a critical interaction in the hotel industry?
AveGali [126]
Answer: B
hope this helps :)
7 0
3 years ago
Consider the population consisting of all computers of a certain brand and model, and focus on whether a computer needs service
Dvinal [7]

Answer:

Based on selecting a sample of 300 computers The probability questions are follows

1. . What is the probability that no computer needs service within the warranty period?

2 . What is the probability that more than half of the computers that are sampled will need warranty period?

3. What is the expected number of computers fail before the warranty period?

7 0
3 years ago
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