Business, 01.05.2021 23:40 raeanparker

Robb Industries Inc. (RII) developed standard costs for direct material and direct labor. In 20X4, RII estimated the following standard costs for one of their major products, the 10-gallon plastic container. Budgeted quantity Budgeted price
Direct materials 0.10 pounds $30 per pound
Direct labor 0.05 hours $15 per hour
During June RII produced and sold 5,000 containers using 490 pounds of direct materials at an average cost per pound of $32 and 250 direct manufacturing labor-hours at an average wage of $15.25 per hour.
a. What is June’s direct material price variance?
standard price 30 acutal quantity 490
actual price 32 direct material 980 unfavorable
b. What is June’s direct material efficiency variance?
standard price 30 actual quantity 490
standard quality 500 direct material 300 favorable
c. What is June’s direct labor rate variance?
standard rate 15 actual hours 450
actual rate 15.25 manufactoring labor variance 62.50 unfavorable
d. What is June’s direct labor efficiency variance?
standard hours 250 standard rate 15
actual hours 250 maunfaturing varience 0

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 15:00

Magic realm, inc., has developed a new fantasy board game. the company sold 15,000 games last year at a selling price of $20 per game. fixed expenses associated with the game total $182,000 per year, and variable expenses are $6 per game. production of the game is entrusted to a printing contractor. variable expenses consist mostly of payments to this contractor.required: 1-a. prepare a contribution format income statement for the game last year.1-b. compute the degree of operating leverage.2. management is confident that the company can sell 58,880 games next year (an increase of 12,880 games, or 28%, over last year). given this assumption: a. what is the expected percentage increase in net operating income for next year? b. what is the expected amount of net operating income for next year? (do not prepare an income statement; use the degree of operating leverage to compute your answer.)

Answers: 2

Answer

Business, 22.06.2019 21:10

Upon completion of the northwest-corner rule, which source-destination cell is guaranteed to be occupied? a. top-leftb. the cell with the lowest shipping costc. bottom-leftd. top-righte. bottom-right

Answers: 1

Answer

Business, 23.06.2019 00:00

Wo firms, a and b, each currently dump 50 tons of chemicals into the local river. the government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. it costs firm a $100 for each ton of pollution that it eliminates before it reaches the river, and it costs firm b $50 for each ton of pollution that it eliminates before it reaches the river. the government gives each firm 20 pollution permits. government officials are not sure whether to allow the firms to buy or sell the pollution permits to each other. what is the total cost of reducing pollution if firms are not allowed to buy and sell pollution permits from each other? what is the total cost of reducing pollution if the firms are allowed to buy and sell permits from each other? a. $3,000; $1,500 b. $4,500; $3,500 c. $4,500; $4,000 d. $4,500; $2,500

Answers: 3

Answer

Business, 23.06.2019 07:00

Nthis economy, community members typically use simple tools to plant and harvest crops. food supplies are supplemented by hunting animals and gathering plant materials. members trade with each other to obtain needed goods, as few people hold currency. little economic growth occurs. what type of economy is being described?

Answers: 3

Answer

You know the right answer?

Robb Industries Inc. (RII) developed standard costs for direct material and direct labor. In 20X4, R...

Questions