Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. dawson toys, ltd., produces a toy called the maze.

Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a...

80.2K

Verified Solution

Question

Accounting

image
image
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.33 per micron Direct labor: 1.3 hours per toy at $710 per hour During July, the company produced 4,500 Maze toys. Production data for the month on the toy follow: Direct materials: 79,000 microns were purchased at a cost of $0.32 per micron. 39,625 of these microns were still in inventory at the end of the month. Direct labor 6,450 direct labor-hours were worked at a cost of $49,665 Required: 1. Compute the following variances for July: (Do not round intermediate calculations. Round final answer to the nearest whole dollar. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

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

Biology
1.2K views

What are two types of genetic variation that DO NOT contribute to an immediate response to...

Physics
1.2K views

O electric flux O electrostatic O electric field lines O electric field Question 2 O...

Physics
1.2K views

An electron mass m with an initial velocity v v i v 0 is in...

Physics
1.2K views

33 ment if f f and T be the In th frictional forces on 2...

Basic Math
1.2K views

get a grade of C the average of the first five tests scores must be...

Accounting
1.2K views

Perpetual Inventory System Using UIFO A company purchased and sold the following items for...

Accounting
1.2K views

Journal Entries for Accounts and Notes Receivable Pittsburgh, Inc., began business on January 1. Certain...

Accounting
1.2K views

Hancock Company manufactures and sells two lines of turniture, case goods and upholstery. During the...

Accounting
1.2K views

Required information [The following information applies to the questions displayed below.] Use the following selected...

Accounting
1.2K views

Current Attempt in Progress In its first year of operations, Sheridan Company recognized $35 280...

Accounting
1.2K views

Suppose your company sells services for $325 cash this month. Your company also pays $100...

Finance
1.2K views

Problem 5-22 Arnot Internationals bonds have a current market price of $1,200. The bonds have...