Q4. The following data pertains to the month of October for ElmCo.when production was budgeted to...

Q4. The following data pertains to the month of October for ElmCo.when production was budgeted to be 5,000 units of P90. P90 has standard costs per unit of: 3 lbs. of Direct Materials at a cost of $7.00 per lb.; 0.20 hours of Direct Labor at $18.00 per hour; and Variable Overhead assigned on the basis of 0.05 machine hours at a rate of $50 per machine hour. In October the production of P90 totaled 4,600 units, using 15,100 lbs of material costing a total of $107,778. Determine the direct materials price variance. (Negative numbers indicate a favorable variance.)

Q5. Rocket Plating Company plans to manufacture 130,000 units during the year. Two types of materials are used to make GidgetSpinners: four ounces of Material A, costing $0.30 per ounce and two ounces of Material B, costing $0.40. On January 1, there are 8,000 ounces of Material A and 4,000 ounces of Material B on hand. It is planned to have 10,000 ounces of Material A and 6,000 ounces of Material B in inventory on December 31. What is the budgeted cost of purchasing Material B in the upcoming year?

Q6. Pablo Company has budgeted production for next year as follows: Q1 60,000 units; Q2 80,000 units; Q3 90,000 units; and Q4 70,000 units. Two pounds of material A are required for each unit produced. The company has a policy of maintaining a stock of material A on hand at the end of each quarter equal to 25% of the next quarter's production needs for material A. A total of 30,000 pounds of material A are on hand to start the year. Budgeted purchases of material A for the second quarter would be?

Expert Solution

ekkarill92 answered 1 year ago

Q7. The following data pertains to the month of October for ElmCo. when production was budgeted...

Q7. The following data pertains to the month of October for ElmCo. when production was budgeted to be 5,000 units of P90. P90 has standard costs per unit of: 3 lbs. of Direct Materials at a cost of $7.00 per lb.; 0.20 hours of Direct Labor at $18.00 per hour; and Variable Overhead assigned on the basis of 0.05 machine hours at a rate of $50 per machine hour. Actual production of P90 for October was 4,600 units. In October...

La Famiglia Pizzeria provided the following information for the month of October: a. Sales are budgeted...

La Famiglia Pizzeria provided the following information for the month of October: a. Sales are budgeted to be $157,000. About 85% of sales is cash; the remainder is on account. b. La Famiglia expects that, on average, 70% of credit sales will be paid in the month of sale, and 28% will be paid in the following month. c. Food and supplies purchases, all on account, are expected to be $116,000. La Famiglia pays 25% in the month of purchase...

Troy Corporation has the following budgeted sales for the selected four-month period: Month Unit Sales October...

Troy Corporation has the following budgeted sales for the selected four-month period: Month Unit Sales October 40,000 November 70,000 December 50,000 January 60,000 There were 14,000 units of finished goods in inventory at the beginning of October. Plans are to have an inventory of finished product equal to 25 percent of the unit sales for the next month. Five pounds of a single raw material are required for each unit produced. Each pound of material costs $10. Plans are to...

The following data is given for the XYZ Company: Budgeted production &nbsp

The following data is given for the XYZ Company: Budgeted production 26,000 units Actual production 27,500 units Materials: Standard price per ounce $6.50 Standard ounces per completed unit 8 Actual ounces purchased and used in production 228,000 Actual price paid for materials $1,504,800 Labor: Standard hourly labor rate $22 per hour Standard hours allowed per completed unit 6.6 Actual labor hours worked 183,000 Actual total labor costs $4,016,850...

The following data is given for the Stringer Company: Budgeted production 954 units Actual production 1,030...

The following data is given for the Stringer Company: Budgeted production 954 units Actual production 1,030 units Materials: Standard price per ounce $1.92 Standard ounces per completed unit 12 Actual ounces purchased and used in production 12,731 Actual price paid for materials $26,099 Labor: Standard hourly labor rate $14.49 per hour Standard hours allowed per completed unit 4.8 Actual labor hours worked 5,304.5 Actual total labor costs $80,894 Overhead: Actual and budgeted fixed overhead $1,031,000 Standard variable overhead rate $25.00...

The following data are given for Harry Company: Budgeted production 1,056 units Actual production 900 units...

The following data are given for Harry Company: Budgeted production 1,056 units Actual production 900 units Materials: Standard price per ounce $1.758 Standard ounces per completed unit 11 Actual ounces purchased and used in production 10,197 Actual price paid for materials $20,904 Labor: Standard hourly labor rate $14.09 per hour Standard hours allowed per completed unit 4.4 Actual labor hours worked 4,635 Actual total labor costs $75,319 Overhead: Actual and budgeted fixed overhead $1,054,000 Standard variable overhead rate $24.00 per...

The following data are given for Stringer Company: Budgeted production 959 units Actual production 1,063 units...

The following data are given for Stringer Company: Budgeted production 959 units Actual production 1,063 units Materials: Standard price per ounce $1.9 Standard ounces per completed unit 10 Actual ounces purchased and used in production 10,949 Actual price paid for materials $22,445 Labor: Standard hourly labor rate $14.96 per hour Standard hours allowed per completed unit 4.6 Actual labor hours worked 5,474.45 Actual total labor costs $83,485 Overhead: Actual and budgeted fixed overhead $1,186,000 Standard variable overhead rate $27.00 per...

16.The following data is given for the Stringer Company: Budgeted production 906 units Actual production 1,059...

16.The following data is given for the Stringer Company: Budgeted production 906 units Actual production 1,059 units Materials: Standard price per ounce $1.84 Standard ounces per completed unit 10 Actual ounces purchased and used in production 10,908 Actual price paid for materials $22,361 Labor: Standard hourly labor rate $14.81 per hour Standard hours allowed per completed unit 4.1 Actual labor hours worked 5,453.85 Actual total labor costs $83,171 Overhead: Actual and budgeted fixed overhead $1,002,000 Standard variable overhead rate $25.00...

7. A. Below is budgeted production and sales information for Flushing Company for the month...

7. A. Below is budgeted production and sales information for Flushing Company for the month of December: Product XXX Product ZZZ Estimated beginning inventory 29,200 units 18,100 units Desired ending inventory 35,600 units 14,100 units Region I, anticipated sales 341,000 units 262,000 units Region II, anticipated sales 188,000 units 143,000 units The unit selling price for product XXX is $4 and for product ZZZ is $15. Budgeted sales for the month are a. $9,555,000 b. $14,010,000 c. $3,736,000 d....

Tillis Inc. uses a standard costing system. For the month of October, the following data have...

Tillis Inc. uses a standard costing system. For the month of October, the following data have been assembled: Standard Hours Allowed Based on Actual Production 3,000 hours Standard Labor Rate $14/hour Labor Efficiency Variance $2800 U Total Direct Labor Variance $6000 U Calculate the actual direct labor rate for October.

Question