Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 407 Weeks Ago, 6 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 15 Feb 2018 My Price 7.00

Morgan Inc

Morgan Inc. is a small company that manufactures baseball caps. For the past several years, the company has used a standard cost accounting system. Cole prepares monthly income statements for management with variances reported within the statement. In April 2013, 67,500 caps were produced. There were no finished caps on hand at either April 1 or April 30. The selling price per cap was $10.00. The following standard and actual cost data applied to the month of April when normal capacity was 14,000 direct labor hours.

Cost Element

Standard (per unit)

Actual

Direct materials

1 .5 yards at $3.00 per yard

$318,600 for 108,000 yards ($2.95 yard)

Direct labor

.2 hour at $11.00 per hour

$158,760 for 14,175 hours ($11 20 per hour)

Overhead

.2 hour at $ 5.00 per hour

$49,000 fixed overhead

$20,000 variable overhead

  

$20,000 variable overhead

 

Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $49,000 and budgeted variable costs were $21000.

Instructions

(a) Compute the total. price, and quantity variances for (1) materials, (2) labor, and (3) the total, controllable, and volume variances for manufacturing overhead (assuming no beginning or ending material balances).

(b) Journalize the entries to record the variances and the completion and sale of the caps.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 15 Feb 2018 06:02 PM My Price 7.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------pos-----------ted----------- so-----------lut-----------ion-----------.Pl-----------eas-----------e p-----------ing----------- me----------- on-----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be-----------

Not Rated(0)