Khaleed Manufacturing, a new company producing baby toys gives the following standard information: As per the...

Khaleed Manufacturing, a new company producing baby toys gives the following standard information: As per the following information, calculate labor variances. Standard hours per unit 3.5hrs. Standard rate per hour $35 Actual units produced 1,000units while actual labor hours is 5,000hrs at a total cost of $135,000. The company recorded idle hours of 450.

a) Labor Cost Variance b) Labor Rate Variance c) Labor Efficiency variance d) Idle Time Variance

Expert Solution

ekkarill92 answered 2 months ago

Toys Sky Manufacturing study suggests that 1 million new baby dolls can be sold per year.

Toys Sky Manufacturing study suggests that 1 million new baby dolls can be sold per year. If an assembly line at maximum capacity can produce 25,000 dolls a month per shift, can the company meet its sales goal for the year if it plans to run in two shifts? What would be the maximum production capacity if an additional shift could be added? Show your calculations. (2 points)

Engle Manufacturing Company established the following standard price and cost information: sales price $50 per unit...

Engle Manufacturing Company established the following standard price and cost information: sales price $50 per unit variable Manufacturing cost 32 per unit fixed manufacturing cost $100,000 total fixed selling and administrative cost $40,000 tota Engle expected to produce and sell 15,000 units. Actual production and sales amounted to 16,000 units. Required: (a) Determine the sales volume variances, including variances for number of units, sales revenue, variable manufacturing cost, fixed manufacturing cost, and fixed selling and administrative cost. (b) Classify the...

Saudia Manufacturing Company established the following standard price and cost information: Sales...

Saudia Manufacturing Company established the following standard price and cost information: Sales price $ 50 per unit Variable manufacturing cost 32 per unit Fixed manufacturing cost $ 100,000 total Fixed selling and administrative cost $ 40,000 total Saudia Company expected to produce and sell 25,000 units. Actual production and sales amounted to 26,500 units. Required: Complete the following table (a) Determine the sales volume variances, including variances for number of units, sales revenue, variable manufacturing...

The following information is available for Bear Manufacturing Company. -- Direct materials price standard is $3.50...

The following information is available for Bear Manufacturing Company. -- Direct materials price standard is $3.50 per pound. -- Direct materials quantity standard is six pounds per finished unit. -- Budgeted production is 25,000 finished units. -- 175,000 pounds of direct materials were purchased for $550,000. -- 175,000 pounds of direct materials were used in production. -- 26,000 finished units of product were produced. What is the direct materials quantity variance? A) $25,400 Unfavorable B) $25,400 Favorable C) $66,500 Unfavorable...

Adams Manufacturing Company established the following standard price and cost data: Sales price $ 8.50 per...

Adams Manufacturing Company established the following standard price and cost data: Sales price $ 8.50 per unit Variable manufacturing cost $ 3.70 per unit Fixed manufacturing cost $ 2,800 total Fixed selling and administrative cost $ 600 total Adams planned to produce and sell 2,200 units. Actual production and sales amounted to 2,400 units. Assume that the actual sales price is $8.15 per unit and that the actual variable cost is $3.95 per unit. The actual fixed manufacturing cost is...

Gibson Manufacturing Company established the following standard price and cost data. Sales price $ 8.60 per...

Gibson Manufacturing Company established the following standard price and cost data. Sales price $ 8.60 per unit Variable manufacturing cost $ 3.10 per unit Fixed manufacturing cost $ 2,600 total Fixed selling and administrative cost $ 900 total Gibson planned to produce and sell 2,800 units. Actual production and sales amounted to 3,100 units. Required Prepare the pro forma income statement in contribution format that would appear in a master budget. Prepare the pro forma income statement in contribution format...

Consider the following financial information about a new machine at a computer manufacturing company: The machine...

Consider the following financial information about a new machine at a computer manufacturing company: The machine costs $150,000 and will be used for 4 years. The machine will be depreciated using MACRS 5-year class property. At the end of the fourth year, the machine will be sold at 40% of the initial cost. The firm will invest $20,000 in working capital (fully recoverable at the end of the project life). The expected annual savings on labor and materials due to...

Use below information for Questions 6 to 9: Company X is a manufacturing firm producing specialized...

Use below information for Questions 6 to 9: Company X is a manufacturing firm producing specialized equipments. June 1, 2018 B/S shows below balances: Item Beg RM 4,250 MOH Applied 32,540 MOH Incurred 30,650 June 1, 2018 subsidiary ledgers (job cost sheets) show 3 jobs are being performed with following balances[1]: Assigned Costs DM DL MOH R 600 320 403 S 800 540 675 L 900 580 705 During June, RM purchases on account were TL4,970, and all wages (inclusive...

1.) A company is producing a product that has the following data: volume of sales per...

1.) A company is producing a product that has the following data: volume of sales per year = 3 00,000 units selling price per unit = $10 0 variable cost = $6 0 per unit fixed costs per year = $6 00,000 book depreciation = $4 00,000 tax depreciation = $50 0,000 debt interest = $1 00,000 tax rate = 40% With the above data determine (a) Before - tax profit (b) After - tax profit (c) Break - even...

Zachary Manufacturing Company established the following standard price and cost data:

Zachary Manufacturing Company established the following standard price and cost data: Sales price$8.90per unitVariable manufacturing cost$3.70per unitFixed manufacturing cost$2,100totalFixed selling and administrative cost$1,000totalZachary planned to produce and sell 3,000 units. Actual production and sales amounted to 3,300 units.Assume that the actual sales price is $8.70 per unit and that the actual variable cost is $3.95 per unit. The actual fixed manufacturing cost is $1,900, and the actual selling and administrative costs are $1,030.Requireda.&b. Determine the flexible budget variances and classify the...

Question