Question
In: Accounting
Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.03 hour. During...
Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.03 hour. During the month of April, 900,000 bottles were produced using 25,200 labor hours @ $15.00. The standard wage rate is $13.50 per hour.
1. Calculate the total variance for production labor for the month of April.
2. Calculate the labor rate and efficiency variances using the columnar and formula approaches
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.03 hour. During...
Tico Inc. produces plastic bottles. Each bottle has a standard
labor requirement of 0.03 hour. During the month of April, 900,000
bottles were produced using 25,200 labor hours @ $15.00. The
standard wage rate is $13.50 per hour. Required: Calculate the
total variance for production labor for the month of April. Enter
amounts as positive numbers and select Favorable or
Unfavorable.
A firm produces plastic water bottles according to the production function ? = ?(?,?) = ?...
A firm produces plastic water bottles according to the
production function ? = ?(?,?) = ? 2?, where ? is the number of
water bottles produced, ? is the quantity of labor employed and ?
is the quantity of capital. The associated marginal product
functions are ??? = 2?? and ??? = ? 2 . The cost per unit of labor
and capital are ? = $4 and ? = $2, respectively.
1) If this firm wants to produce a...
Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry. The cost...
Genie in a Bottle Company (GBC) manufactures plastic two-liter
bottles for the beverage industry. The cost standards per 100
two-liter bottles are as follows: Cost Category Standard Cost per
100 Two-Liter Bottles Direct labor $1.48 Direct materials 4.92
Factory overhead 0.28 Total $6.68 At the beginning of July, GBC
management planned to produce 590,000 bottles. The actual number of
bottles produced for July was 637,200 bottles. The actual costs for
July of the current year were as follows: Cost Category...
Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry. The cost...
Genie in a Bottle Company (GBC) manufactures plastic two-liter
bottles for the beverage industry. The cost standards per 100
two-liter bottles are as follows:
Cost Category
Standard Cost
per 100 Two-Liter
Bottles
Direct labor
$1.32
Direct materials
6.26
Factory overhead
0.32
Total
$7.9
At the beginning of July, GBC management planned to produce
430,000 bottles. The actual number of bottles produced for July was
464,400 bottles. The actual costs for July of the current year were
as follows:
Cost Category...
Wellsley Containers currently uses a recycled plastic to make bottles for the food industry. Current bottle...
Wellsley Containers currently uses a recycled plastic to make
bottles for the food industry.
Current bottle production? information:
The cost and time standards per batch of 10,000 bottles are as
?follows:
Plastic 360 kilograms at $11.00 per kg
Direct labor 6.0 hours at $20.00 per hour
The variable manufacturing overhead rate is based on total
estimated variable manufacturing overhead of $500,000 and estiamted
total DLH of 10,000. Wellsley allocates its variable manufacturing
overhead based on direct labor hours (DLH).
Proposed...
Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry. The cost...
Genie in a Bottle Company (GBC) manufactures plastic two-liter
bottles for the beverage industry. The cost standards per 100
two-liter bottles are as follows:
Cost Category
Standard Cost
per 100 Two-Liter
Bottles
Direct labor
$1.52
Direct materials
6.18
Factory overhead
0.34
Total
$8.04
At the beginning of July, GBC management planned to produce
670,000 bottles. The actual number of bottles produced for July was
723,600 bottles. The actual costs for July of the current year were
as follows:
Cost Category...
Juice is put into bottles and sealed. Each bottle contains 1500 mL of product and has...
Juice is put into bottles and sealed. Each bottle contains 1500
mL of product and has 65 mL headspace of air with 20% by volume of
oxygen in it. The specific gravity of the product is 1.04.
During packaging, the dissolved oxygen content of the product is
7.0 ppm. The juice concentrate contributes 5.5 mg Vitamin C per 100
mL to the final product mixture. The processor then adds an unknown
amount of vitamin C to the product to bring...
Budget Performance Report Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage...
Budget Performance Report
Genie in a Bottle Company (GBC) manufactures plastic two-liter
bottles for the beverage industry. The cost standards per 100
two-liter bottles are as follows:
Cost Category
Standard Cost
per 100 Two-Liter
Bottles
Direct labor
$1.28
Direct materials
5.8
Factory overhead
0.4
Total
$7.48
At the beginning of July, GBC management planned to produce
460,000 bottles. The actual number of bottles produced for July was
496,800 bottles. The actual costs for July of the current year were
as...
Budget Performance Report Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage...
Budget Performance Report
Genie in a Bottle Company (GBC) manufactures plastic two-liter
bottles for the beverage industry. The cost standards per 100
two-liter bottles are as follows:
Cost Category
Standard Cost
per 100 Two-Liter
Bottles
Direct labor
$1.12
Direct materials
5.9
Factory overhead
0.32
Total
$7.34
At the beginning of July, GBC management planned to produce
430,000 bottles. The actual number of bottles produced for July was
464,400 bottles. The actual costs for July of the current year were
as...
CHAP 22 Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry....
CHAP 22
Genie in a Bottle Company (GBC) manufactures plastic two-liter
bottles for the beverage industry. The cost standards per 100
two-liter bottles are as follows:
Cost Category
Standard Cost per 100 Two-Liter
Bottles
Direct labor
$4.00
Direct materials
9.10
Factory overhead
0.55
Total
$13.65
At the beginning of July, GBC management planned to produce
380,000 bottles. The actual number of bottles produced for July was
385,000 bottles. The actual costs for July of the current year were
as follows:...
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