Category > AccountingPosted 21 Dec 2017My Price10.00
10-45 Variance analysis, material and labor :
Please help me with the case studies attached. There are 2 case studies for my managerial accounting class.
10-45 Variance analysis, material and labor: The following information is available for Mandalay Company: LO 6 ACTUALMaterials:12,000 pounds purchased at $2.50 per pound; used 10,500 poundsDirect labor:1,800 hours at $12 per hourUnits produced:500STANDARDMaterials:20 pound per unit at a price of $2.20 per poundRequired:a.Determine the material price variance based on the quantity of materials purchased. b.Determine the material quantity variance. c.Determine the direct labor rate variance. d.Determine the direct labor efficiency variance.10-60 Operating budgets:labor hiring plan Shadyside Insurance Company manages a medical insurance program for its clients. Employees of client firms submit claims for reimbursement of medical expenses. Shadyside processes these claims, checks them to ensure that they are coveredby the claimant’s policy, notes whether the claimant has reached any limit on coverage, computesany deductible, and issues a check for the claimant’s refund. LO 2, 3, 7 Three types of clerks work in the claims processing department: supervisors, senior clerks, and junior clerks. The supervisors are paid $42,000 per year, the senior clerks are paid $37,000 per year, and the junior clerks are paid $32,000 per year. For every 150,000 claims processed per year, Shadyside plans to use one supervisor, six junior clerks, and two senior clerks. Last year, the company processed 2 million medical claims and employed 14 supervisors, 30 senior clerks, and 83 junior clerks.
