Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. asap!! i need help with question please. daw

ASAP!! I need help with question please. Dawson Toys,...

80.2K

Verified Solution

Question

Accounting

ASAP!! I need help with question please.
image
Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has estabilshed the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.33 per micron Direct labor: 1.4 hours per toy at $7.40 per hour During July, the company produced 5,200 Maze toys. The toy's production data for the month are as follows: Direct materials. 78,000 microns were purchased at a cost of $0.30 per micron. 32,500 of these microns were still in inventory at the end of the month. Direct labor. 7,680 direct labor-hours were worked at a cost of $60,672. Required: 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) a. The materials price and quantity variances. b. The labor rate and efficiency variances

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Electrical Engineering
1.2K views

a) With the aid of diagrams, describe the three characteristics of d.c. series motor. (b) Briefly explain...

Biology
1.2K views

shape of the muscle size of the muscle action of the muscle location of the...

Physics
1.2K views

4 0 12 15 Two exactly similar wires of steel and copper are stretched by...

Geometry
1.2K views

B C F 70 A 50 D E Both segment BD and segment AC are...

Basic Math
1.2K views

As Jupiter revolves around the sun, it travels at a rate of approximately 8miles per...

Calculus
1.2K views

Graph of a function y f x is shown Evaluate 2 S 4 f x...

Accounting
1.2K views

Linda is offered a full-time job as a chartered accountant at CM...

Accounting
1.2K views

a)Calculate Marvel Incs taxable income/loss for 2020 and Prepare the journal entries to record income...

Accounting
1.2K views

A manufacturing company prepays its insurance coverage for a three-year period. The premium for the...

Accounting
1.2K views

Gilmore Corporation is a small manufacturer that makes animal toys for dogs, cats and small...

Accounting
1.2K views

Forten Company, a merchandiser, recently completed its calendar-year 2017 operations. For the year, (1) all...

Accounting
1.2K views

The following is an incomplete statement of shareholders' equity (in millions of dollars). ...