Question

In: Accounting

Gandolph Game Company has established the following standards for the prime costs of one unit of...

Gandolph Game Company has established the following standards for the prime costs of one unit of its chief product, dartboards. Standard Cost Standard Quantity Standard Price or Rate Direct material $ 5.00 5.00 kilograms $ 1.00 per kilogram Direct labor 1.00 0.20 hour $ 5.00 per hour Total $ 6.00 During September, Gandolph purchased 195,000 kilograms of direct material at a total cost of $214,500. The total wages for September were $40,404, 75 percent of which were for direct labor. Gandolph manufactured 37,000 dartboards during September, using 177,600 kilograms of the direct material purchased in September and 7,770 direct-labor hours. Required: Compute the following variances for September. Please indicate whether each variance is favorable or unfavorable.

Solutions

Expert Solution

ekkarill92 answered 1 year ago
Next > < Previous

Related Solutions

Orion Corporation has established the following standards for the prime costs of one unit of its...
Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards. Standard Quantity Standard Price or Rate Standard Cost Direct material 6.00 pounds $ 2.20 per pound $ 13.20 Direct labor 1.40 hour $ 7.00 per hour 9.80 Total $ 23.00 During June, Orion purchased 172,000 pounds of direct material at a total cost of $397,320. The total wages for June were $290,700, 90 percent of which were for direct labor. Orion...
Orion Corporation has established the following standards for the prime costs of one unit of its...
Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards. Standard Quantity Standard Price or Rate Standard Cost Direct material 12.00 pounds $ 2.80 per pound $ 33.60 Direct labor 2.00 hour $ 4.00 per hour 8.00 Total $ 41.60 During June, Orion purchased 256,000 pounds of direct material at a total cost of $760,320. The total wages for June were $183,084, 75 percent of which were for direct labor. Orion...
Benoit Wines uses a standard costing system and has established the following standards for the prime...
Benoit Wines uses a standard costing system and has established the following standards for the prime costs for its Merlot by the litre:                                                               Standard quantity                          Standard price                               Standard cost Direct materials                  1.75kg of grapes                            $2.31/kg                                                 $ 4.05 Direct labou r           0.25 direct labour hours           $16.00                                         $4.00 During August, Benoit purchased 430,000 kilograms of direct materials at a total cost of $967,500 from a new supplier. The total factory wages for August were $1,080,000,...
17. A manufacturing company that has only one product has established the following standards for its...
17. A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. Variable manufacturing overhead standards are based on machine-hours.   Standard hours per unit of output 4.40 machine-hours   Standard variable overhead rate $11.55 per machine-hour The following data pertain to operations for the last month:   Actual hours 8,800 machine-hours   Actual total variable manufacturing overhead cost $95,910   Actual output 1,900 units What is the variable overhead efficiency variance for the month? $2,832 U $7,293...
The following standards for variable overhead have been established for a company that makes only one...
The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output: 5.5 hours Standard variable overhead rate: $14.00 per hour The following data pertain to operations for the last month: Actual hours: 9,200 hours Actual total variable overhead cost: $125,100 Actual output: 1,660 units a. What is the variable overhead rate variance for the month? (Input the amount as a positive value. Leave no cells blank - be...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direc...
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 8 microns per toy at $0.31 per micron Direct labor: 1.2 hours per toy at $6.60 per hour During July, the company produced 4,900 Maze toys. The toy's production data for the month are as follows: Direct materials: 70,000 microns were purchased at a cost of...
The following materials standards have been established for a particular product: Standard quantity per unit of...
The following materials standards have been established for a particular product: Standard quantity per unit of output 5.5 meters Standard price $ 19.10 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased 9,100 meters Actual cost of materials purchased $ 182,700 Actual materials used in production 8,600 meters Actual output 1,540 units What is the materials price variance for the month?
The following materials standards have been established for a particular product: Standard quantity per unit of...
The following materials standards have been established for a particular product: Standard quantity per unit of output 4.9 pounds Standard price $ 13.70 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased 5,550 pounds Actual cost of materials purchased $ 63,380 Actual materials used in production 5,050 pounds Actual output 750 units The direct materials purchases variance is computed when the materials are purchased. What is the materials quantity variance for...
The following materials standards have been established for a particular product: Standard quantity per unit of...
The following materials standards have been established for a particular product: Standard quantity per unit of output 6.4 pounds Standard price $ 15.20 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased 7,800 pounds Actual cost of materials purchased $ 64,880 Actual materials used in production 7,300 pounds Actual output 900 units The direct materials purchases variance is computed when the materials are purchased. What is the materials quantity variance for...
The Koski Company has established standards as follows: Direct material                               &nb
The Koski Company has established standards as follows: Direct material                                                     3 pounds @ P4/pound = P12 per unit Direct labor                                                           2 hours @ P8/hour = P16 per unit Variable overhead                                              2 hours @ P5/hour = $10 per unit Actual production figures for the past year were as follows: Units produced                                                                                    500 Direct material used                                                                           1,600 pounds Direct material purchased (3,000 pounds)                                    $12,300 Direct labor cost (950 hours)                                                             $ 7,790 Variable overhead cost incurred                                     ...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT