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1.)Japan Company produces lamps that require 2.25 standard hours per unit at an hourly rate of $15.00 per hour. If 7,700 units required 19,250 hours at an hourly rate of $14.90 per hour, what is the direct labor for the following: Enter favorable variances as negative numbers.

a. Rate variance	$	SelectFavorableUnfavorableItem
b. Time variance	$	SelectFavorableUnfavorableItem
c. Cost variance	$	SelectFavorableUnfavorableItem

2.)

Oak Company produces a chair that requires 6 yds. of material per unit. The standard price of one yard of material is $7.50. During the month, 8,500 chairs were manufactured, using 48,875 yards.

Hide Journalize the entry to record the standard direct materials used in production. If required, round your answers to two decimal places. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0". 3.) Ruby Company produces a chair that requires 5 yds. of material per unit. The standard price of one yard of material is $7.50. During the month, 8,400 chairs were manufactured, using 43,700 yards at a cost of $7.30 per yard. Enter favorable variances as negative numbers. Determine the following: a. Price variance $ SelectFavorableUnfavorable b. Quantity variance $ SelectFavorableUnfavorable c. Cost variance $ SelectFavorableUnfavorable

4.)

This company records inventory purchases at standard cost and also records purchase price variances.

Hide Prepare the journal entry for a purchase of 6,000 widgets that were bought at $8.00 and have a standard cost of $8.15. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

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