Question

In: Accounting

Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping...

Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows:

Direct material of 4.00 yards at $5.00 per yard

Direct labor of 3.00 hours at $19.00 per hour

Overhead applied per sleeping bag at $18

In the month of April, the company actually produced 5,100 sleeping bags using 26,800 yards of material at a cost of $5.50 per yard. The labor used was 12,250 hours at an average rate of $20.50 per hour. The actual overhead spending was $96,200. Determine the labor quantity variance and round to the nearest whole dollar. Enter a favorable variance as a negative number. Enter an unfavorable variance as a positive number.

Solutions

Expert Solution

labor quantity variance is $57,950F
Standard Actual
Particulars Hours Rate amount Hours Rate amount
Labour                15,300.00          19.0000           290,700.00             12,250.00                     20.50           251,125.00
Actual output                  5,100.00
Labour hrs reqd (5100*3)                15,300.00
DLQV = (SH-AH)SR
DLQV = (15,300 - 12,250)19
DLQV = 57,950 F

ekkarill92 answered 8 months ago
Next > < Previous

Related Solutions

Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping...
Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows: Direct material of 5.00 yards at $5.50 per yard Direct labor of 2.50 hours at $18.00 per hour Overhead applied per sleeping bag at $19.00 In the month of April, the company actually produced 5,200 sleeping bags using 27,300 yards of material at a cost of $6.10 per yard. The labor used was 11,700 hours at an average...
Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping...
Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows: Direct material of 5.50 yards at $5.25 per yard Direct labor of 3.00 hours at $19.00 per hour Overhead applied per sleeping bag at $16.00 In the month of April, the company actually produced 5,200 sleeping bags using 27,300 yards of material at a cost of $6.10 per yard. The labor used was 11,700 hours at an average...
Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping...
Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows: Direct material of 6.00 yards at $5.75 per yard Direct labor of 3.00 hours at $17.00 per hour Overhead applied per sleeping bag at $15.00 In the month of April, the company actually produced 5,200 sleeping bags using 27,300 yards of material at a cost of $5.10 per yard. The labor used was 11,700 hours at an average...
Bag​ Ladies, Inc. manufactures two kinds of bags--- totes and satchels. The company allocates manufacturing overhead...
Bag​ Ladies, Inc. manufactures two kinds of bags--- totes and satchels. The company allocates manufacturing overhead using a single plantwide rate with direct labor cost as the allocation base. Estimated overhead costs for the year are $ 25,000. Additional estimated information is given below. Totes Satchels DM cost per unit $33 $43 DL cost per unit $52 $60 Number of Units 520 350 Calculate the amount of overhead to be allocated to Totes.​ (Round any percentages to two decimal places...
Make or Buy Assignment Yellow Moon Corporation manufactures sleeping bags; the selling price of the regular...
Make or Buy Assignment Yellow Moon Corporation manufactures sleeping bags; the selling price of the regular product is $180, while the manufacturing costs per unit were as follows: Details Per unit 1,000 units Direct materials 90 90,000 Direct labor 30 30,000 Manufacturing overhead 60% variable 15 15,000 Fixed selling costs 20 20,000 Total 155 155,000 Yellow Moon Corporation received a special order to manufacture 300 sleeping bags for $140 per unit. These sleeping bags require special materials that will cost...
Outdoors Company manufactures sleeping bags that sell for P30 each. The variable standard costs of production...
Outdoors Company manufactures sleeping bags that sell for P30 each. The variable standard costs of production are P19.50. Budgeted fixed manufacturing overhead is P100,000, and budgeted production is 10,000 sleeping bags. The company actually manufactured 12,500 bags, of which 11,000 were sold. There were no variances during the year except for the fixed-overhead volume variance. Variable selling and administrative costs are P0.50 per sleeping bag sold; fixed selling and administrative costs are P5,000. Required: Calculate the standard product cost per...
Great Outdoze Company manufactures sleeping bags, which sell for $66.10 each. The variable costs of production...
Great Outdoze Company manufactures sleeping bags, which sell for $66.10 each. The variable costs of production are as follows: Direct material $ 20.00 Direct labor 10.10 Variable manufacturing overhead 6.20 Budgeted fixed overhead in 20x1 was $232,000 and budgeted production was 29,000 sleeping bags. The year’s actual production was 29,000 units, of which 26,000 were sold. Variable selling and administrative costs were $1.30 per unit sold; fixed selling and administrative costs were $27,000. Required: 1. Calculate the product cost per...
Great Outdoze Company manufactures sleeping bags, which sell for $66.60 each. The variable costs of production...
Great Outdoze Company manufactures sleeping bags, which sell for $66.60 each. The variable costs of production are as follows: Direct material $ 18.30 Direct labor 11.00 Variable manufacturing overhead 7.40 Budgeted fixed overhead in 20x1 was $163,800 and budgeted production was 26,000 sleeping bags. The year’s actual production was 26,000 units, of which 24,000 were sold. Variable selling and administrative costs were $1.90 per unit sold; fixed selling and administrative costs were $29,000. Required: 1. Calculate the product cost per...
Great Outdoze Company manufactures sleeping bags, which sell for $67.00 each. The variable costs of production...
Great Outdoze Company manufactures sleeping bags, which sell for $67.00 each. The variable costs of production are as follows: Direct material $ 18.50 Direct labor 9.50 Variable manufacturing overhead 7.20 Budgeted fixed overhead in 20x1 was $169,400 and budgeted production was 22,000 sleeping bags. The year’s actual production was 22,000 units, of which 19,700 were sold. Variable selling and administrative costs were $2.10 per unit sold; fixed selling and administrative costs were $29,000. Required: 1. Calculate the product cost per...
500 bags of onions were purchased at 2.51 per bag. The desired markup is 43% based on selling price, but 20% spoilage is expected.
   500 bags of onions were purchased at 2.51 per bag. The desired markup is 43% based on selling price, but 20% spoilage is expected. What should be the selling price per bag?    
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT