Sharp Company manufacturers jeans. In June, Sharp made 1200 pairs of jeans, but had budgeted production at 1400 pairs of jeans. The allocation base for overhead costs is direct labor hours. The following additional data is available for the month:

Variable overhead cost standard $0.60 per DLHr

Direct labor efficiency standard 2.00 DLHr per jean

Actual amount of direct labor hours 2520 DLHr

Actual cost of variable overhead $1512

Fixed overhead cost standard $0.25 per DLHr

Budgeted fixed overhead $700

Actual cost of fixed overhead $750

Calculate:

Variable overhead cost variance

Variable overhead efficiency variance

Total variable overhead variance

Fixed overhead cost variance

Fixed overhead volume variance

Total fixed overhead variance

Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 90 employees. Each employee presently provides 36 hours of labor per week. Information about a production week is as follows: Standard wage per hr. $15.00 Standard labor time per faucet 40 min. Standard number of lbs. of brass 3 lbs. Standard price per lb. of brass $2.40 Actual price per lb. of brass $2.50 Actual lbs. of brass used during the week 14,350 lbs. Number of faucets produced during the week 4,800 Actual wage per hr. $14.40 Actual hrs. for the week (90 employees × 36 hours) 3,240 hrs. Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit $ 7.20 Direct labor standard cost per unit $ 10 Total standard cost per unit $ 17.20 b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance $ Unfavorable Direct Materials Quantity Variance $ Favorable Total Direct Materials Cost Variance $ Unfavorable c. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Labor Rate Variance $ Favorable Direct Labor Time Variance $ Unfavorable Total Direct Labor Cost Variance $ Favorable Feedback Unfavorable variances can be thought of as increasing costs (a debit). Favorable variances can be thought of as decreasing costs (a credit). Learning Objective 2, Learning Objective 3.

Hanover Products manufactures screws and bolts made to customer specifications. During August, they incurred the following manufacturing costs: ? Direct materials $28,019 ? Direct labor $15,276.75 ? Applied factory overhead $9,854.50 The following data pertain to these costs: Summary of Direct Materials Requisitions

Summary of Direct Labor Time Tickets

The overhead application rate is $4 per direct labor hour for Dept 1 and 175% of direct labor cost for Dept 2. The company had no beginning work in process for August, Job 8958, which cost $14,190.18 to manufacture, was completed in July and was sold on account in August for $19,000. The job cost sheet for this job is shown on below. Of the jobs begun in August, Job 8961 was completed and sold on account for $24,000,

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Job 8962 and 8964 was completed but not sold and Job 8963 was still in process.

Macpherson Limited produces two products: Standard and Deluxe. The company uses an activity-based costing system. Macpherson produces 8,000 units of Standard and 2,000 units of Deluxe. The company uses two activity cost pools, with estimated total cost and activity as follows:

        What is the cost per unit of Macpherson under activity-based costing?

What is the main reason for generating new information provided by activity-based costing?

5)

The following table describes the costs of production for a firm.

What is the average fixed cost of producing 4 units?

Group of answer choices

a 250

b None of these answers

c 1000

d 200

e 1250

6)

Suppose a firm has the following costs:

What is the average fixed cost at a quantity of 5 units?

Group of answer choices

a 200

b 40

c 100

d 60

e 300

The following balances are from the accounts of Crabtree Machining Company:

Direct materials purchased during the year amount to $717,600, and the cost of goods sold for the year was $2,606,880.

Required:

Prepare a cost of goods sold statement.

Factory Overhead Cost Variances

The following data relate to factory overhead cost for the production of 6,000 computers:

If productive capacity of 100% was 10,000 hours and the factory overhead cost budgeted at the level of 6,000 standard hours was $302,000, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $6.5 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

I.          Cost Flow Assumptions

RennStall made the following purchases and sales of a particular product:

Date                            Purchases at Cost   Total Cost                  Sales at Retail          Total Retail

Begin Inventory        100 x $35 =

8/6                              200 x $40 =

8/10                                                                                                    150 x $100 =

8/15                                                                                                    50 x $100 =

8/22                            250 x $45 =

8/23                                                                                                    160 x $100 =

8/31                                                                                                    50 x $100 =                        

            Totals                         units                                                                                                 

III.        Periodic Method

For the month of August, compute the value of ending inventory and cost of goods sold under (a) FIFO, (b) LIFO, (c) Weighted Average, and (d) Specific Identification. The units physically remaining are all from the August 6 purchase which cost $40 each.

Question 1. Your task is to create a full program for a Restaurant of your choice. You will have the output appear at first saying Welcome to ______ Restaurant where the _____ will be whatever you name your restaurant

Today’s choices are 1.__________ 2._________ 3._______ 4.________

NOTE each _____ will say an item and its price for example pizza 2.99 Please choose 1 of the choices. In each case, as the user picks a choice It will calculate the total cost of the item based on a tax of 8.5%(multiply cost by 0.085) and add to original cost It will output what the user chose and the total cost for the bill in correct money format IF the user enters in something other than 1 through 4 it will say. INVALID CHOICE and the cost will be $0.00 It will then say. Thank You and have a nice day!