Under normal conditions, Sarah spends $8.40 per unit of materials, and it will take 3.6 units of material per pair of shoes. During July, Sole Purpose Shoe Company incurred actual direct materials costs of $60,632 for 6,890 units of direct materials in the production of 2,175 pairs of shoes. Complete the following table, showing the direct materials variance relationships for July for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable cost variance, and a positive number for an unfavorable cost variance. Actual Cost Standard Cost Actual Quantity X Actual Price Actual Quantity X Standard Price Standard Quantity X Standard Price X X = = = Direct Materials Variance: Direct Materials Variance: Total Direct Materials Variance:

Under normal conditions, Sarah spends $8.40 per unit of materials, and it will take 3.6 units of material per pair of shoes. During July, Sole Purpose Shoe Company incurred actual direct materials costs of $60,632 for 6,890 units of direct materials in the production of 2,175 pairs of shoes. Complete the following table, showing the direct materials variance relationships for July for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable cost variance, and a positive number for an unfavorable cost variance. Actual Cost Standard Cost Actual Quantity X Actual Price Actual Quantity X Standard Price Standard Quantity X Standard Price X X = = = Direct Materials Variance: Direct Materials Variance: Total Direct Materials Variance:

Name: Under normal conditions, Sarah spends $8.40 per unit of materials, and
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Description: Under normal conditions, Sarah spends $8.40 per unit of materials, and it will take 3.6 units of material per pair of shoes. During July, Sole Purpose Shoe Company incurred actual direct materials costs of $60,632 for 6,890 units of direct materials

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 7PB: Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid...

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Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. A. Compute the direct labor rate and time variances for the month of June, and also calculate the total direct labor variance. B. If the standard rate per hour was $16.00, what would change?
Under normal conditions, Sarah spends $8.40 per unit of materials, and it will take 3.60 units of material per pair of shoes. During July, Sole Purpose Shoe Company incurred actual direct materials costs of $62,211 for 6,990 units of direct materials in the production of 2,175 pairs of shoes. Complete the following table, showing the direct materials variance relationships for July for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable cost variance, and a positive number for an unfavorable cost variance. Actual Cost Standard Cost ActualQuantity X ActualPrice ActualQuantity X StandardPrice StandardQuantity X StandardPrice fill in the blank a4ac00045fa006a_1 X $fill in the blank a4ac00045fa006a_2 fill in the blank a4ac00045fa006a_3 X $fill in the blank a4ac00045fa006a_4 fill in the blank a4ac00045fa006a_5 X $fill in the blank a4ac00045fa006a_6 = $fill in the blank…
Under normal conditions, Sarah spends $8.40 per unit of materials, and it will take 3.60 units of material per pair of shoes. During July, Sole Purpose Shoe Company incurred actual direct materials costs of $61,321 for 6,890 units of direct materials in the production of 2,200 pairs of shoes. Complete the following table, showing the direct materials variance relationships for July for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable cost variance, and a positive number for an unfavorable cost variance. Actual Cost Standard Cost ActualQuantity X ActualPrice ActualQuantity X StandardPrice StandardQuantity X StandardPrice fill in the blank aa813e028057f8e_1 X $fill in the blank aa813e028057f8e_2 fill in the blank aa813e028057f8e_3 X $fill in the blank aa813e028057f8e_4 fill in the blank aa813e028057f8e_5 X $fill in the blank aa813e028057f8e_6 = $fill in the blank…
Direct Materials Under normal conditions, Sarah spends $8.40 per unit of materials, and it will take 3.60 units of material per pair of shoes. During July, Sole Purpose Shoe Company incurred actual direct materials costs of $62,211 for 6,990 units of direct materials in the production of 2,200 pairs of shoes. Complete the following table, showing the direct materials variance relationships for July for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable cost variance, and a positive number for an unfavorable cost variance.
Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.8 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,148 for 7,320 hours of direct labor in the production of 2,300 pairs of shoes. Complete the following table, showing the direct labor variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance. Actual Cost Standard Cost Actual Hours X Actual Rate Actual Hours X Standard Rate Standard Hours X Standard Rate X X = = = Direct Labor Variance: Direct Labor Variance: Total Direct Labor Variance:
Direct Materials Under normal conditions, Sarah spends $8.40 per unit of materials, and it will take 3.60 units of material per pair of shoes. During July, Sole Purpose Shoe Company incurred actual direct materials costs of $63,101 for 7,090 units of direct materials in the production of 2,200 pairs of shoes. Complete the following table, showing the direct materials variance relationships for July for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable cost variance, and a positive number for an unfavorable cost variance. Actual Cost Standard Cost ActualQuantity X ActualPrice ActualQuantity X StandardPrice StandardQuantity X StandardPrice fill in the blank 778d0b09400dff7_1 X $fill in the blank 778d0b09400dff7_2 fill in the blank 778d0b09400dff7_3 X $fill in the blank 778d0b09400dff7_4 fill in the blank 778d0b09400dff7_5 X $fill in the blank 778d0b09400dff7_6 =…
Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.80 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,610 for 7,290 hours of direct labor in the production of 2,300 pairs of shoes. Complete the following table, showing the direct labor variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance. Actual Cost Standard Cost ActualHours X ActualRate ActualHours X StandardRate StandardHours X StandardRate fill in the blank b8e89601ef8d04f_1 X $fill in the blank b8e89601ef8d04f_2 fill in the blank b8e89601ef8d04f_3 X $fill in the blank b8e89601ef8d04f_4 fill in the blank b8e89601ef8d04f_5 X $fill in the blank b8e89601ef8d04f_6 = $fill in the blank b8e89601ef8d04f_7 = $fill in…
Direct Labor Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.80 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,880 for 7,320 hours of direct labor in the production of 2,100 pairs of shoes. Complete the following table, showing the direct labor variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance. Actual Cost Standard Cost ActualHours X ActualRate ActualHours X StandardRate StandardHours X StandardRate fill in the blank 8ad6b700d058ff4_1 X $fill in the blank 8ad6b700d058ff4_2 fill in the blank 8ad6b700d058ff4_3 X $fill in the blank 8ad6b700d058ff4_4 fill in the blank 8ad6b700d058ff4_5 X $fill in the blank 8ad6b700d058ff4_6 = $fill in the blank 8ad6b700d058ff4_7…
Bade Midwifery's cost formula for its wages and salaries is $1,230 per month plus $240 per birth. For the month of October, the company planned for activity of 105 births, but the actual level of activity was 101 births. The actual wages and salaries for the month was $26,470. The activity variance for wages and salaries in October would be closest to:
Pratte Boat Wash's cost formula for its cleaning equipment and supplies is $2,640 per month plus $47 per boat. For the month of April, the company planned for activity of 60 boats, but the actual level of activity was 14 boats. The actual cleaning equipment and supplies for the month was $3,420. The activity variance for cleaning equipment and supplies in April would be closest to:
Direct Labor Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.80 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,340 for 7,260 hours of direct labor in the production of 2,100 pairs of shoes. Complete the following table, showing the direct labor variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance. Direct Labor - (unfavorable, favorable) Variance - (cost, price, quantity, rate, time)
Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Direct labor Standard Quantity 1.4 ounces gallons 12 0.9 hour Standard Rate $0.40 $0.04 $9.00 Required 1 per ounces per gallons per hour During the month of July, Collin's employees gave 320 baths. The actual results were 710 ounces of shampoo used (cost of $340.80), 6,200 gallons of water used (cost of $434), and labor costs for 260 hours (cost of $2,756). Complete this question by entering your answers in the tabs below. Required 2 Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. Standard Unit Cost

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Actual Cost						Standard Cost
Actual Quantity	X	Actual Price		Actual Quantity	X	Standard Price		Standard Quantity	X	Standard Price
	X				X
	=				=				=
			Direct Materials Variance:				Direct Materials Variance:

					Total Direct Materials Variance: