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Category > Accounting Posted 31 May 2017 My Price 7.00

You have been given the following information about the production of Gamma Co.

E11-9 You have been given the following information about the production of Gamma Co., and are asked to provide the plant manager with information for a meeting with the vice president of  operations.

Standard Cost Card

Direct materials (6 pounds at $3 per   pound)

 

$18.00

 

Direct labor (0.8 hours at  $5)

 

4.00

 

Variable overhead (0.8 hours at $3 per  hour)

 

2.40

 

Fixed overhead (0.8 hours at $7 per   hour)

 

5.60

 

 

 

$30.00

 

 

 

The following is a production report for the most recent period of operations.

Variances

Costs

 

Total Standard Cost

 

Price

 

Quantity

Direct materials

 

$405,000

 

$6,900 F

 

$9,000 U

Direct labor

 

90,000

 

4,850 U

 

7,000 U

Instructions

(a)   How many units were produced during the period?

(b)   How many pounds of raw material were purchased and used during the period?

(c)    What was the actual cost per pound of raw materials?

(d)   How many actual direct labor hours were worked during the period?

(e)    What was the actual rate paid per direct labor hour?

 

(CGA adapted)

 

Answers

Alpha Geek
(8)
Status NEW Posted 31 May 2017 06:05 AM My Price 7.00

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file 1496213028-Answer.docx preview (188 words )
E-----------11------------9 Y-----------ou -----------hav-----------e b-----------een----------- gi-----------ven----------- th-----------e f-----------oll-----------owi-----------ng -----------inf-----------orm-----------ati-----------on -----------abo-----------ut -----------the----------- pr-----------odu-----------cti-----------on -----------of -----------Gam-----------ma -----------Co.-----------, a-----------nd -----------are----------- as-----------ked----------- to----------- pr-----------ovi-----------de -----------the----------- pl-----------ant----------- ma-----------nag-----------er -----------wit-----------h i-----------nfo-----------rma-----------tio-----------n f-----------or -----------a m-----------eet-----------ing----------- wi-----------th -----------the----------- vi-----------ce -----------pre-----------sid-----------ent----------- of-----------  -----------ope-----------rat-----------ion-----------s. ----------- St-----------and-----------ard----------- Co-----------st -----------Car-----------d -----------Dir-----------ect----------- ma-----------ter-----------ial-----------s (-----------6 p-----------oun-----------ds -----------at -----------$3 -----------per-----------  ----------- p-----------oun-----------d) -----------  -----------$18-----------.00-----------  ----------- D-----------ire-----------ct -----------lab-----------or -----------(0.-----------8 h-----------our-----------s a-----------t Â----------- $5-----------) Â-----------  4-----------.00-----------  ----------- V-----------ari-----------abl-----------e o-----------ver-----------hea-----------d (-----------0.8----------- ho-----------urs----------- at----------- $3----------- pe-----------r Â----------- ho-----------ur)-----------  ----------- 2.-----------40 -----------  ----------- Fi-----------xed----------- ov-----------erh-----------ead----------- (0-----------.8 -----------hou-----------rs -----------at -----------$7 -----------per----------- Â-----------  h-----------our-----------)
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