Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ferry chemical uses a standard cost system to acco

Ferry chemical uses a standard cost system to account for the costs of...

60.1K

Verified Solution

Question

Accounting

Ferry chemical uses a standard cost system to account for the costs of its production of chemical x. Standards are 1.4 gallons of materials ar $105 per gallon and 10 hours of labor at a standard wage rate of $12. During september ferry chemical produced 2,600 gallons of chemical x. Ferry chemical purchased and used 3,560 gallons of materials at a total cost of 380,920. payroll totaled 302,617 for 25,430 hours worked.
Calculate the direct materials price variance
Calculqte the direct materials quantity variance
Calculate the direct labor rate variance
Calculate the direct labor efficiency 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

Electrical Engineering
1.2K views

What is the space state averaged model of a Boost Converter? Please show ALL work and...

General Management
1.2K views

Create an argument for or against the government’s role in electronic medical record (EMR) standards. Justify...

Physics
1.2K views

5 8 A particle of mass m is projected at t 0 from a point...

Geometry
1.2K views

10 Given m 3 54 mAB x Find mAB 2 points D 3 X B...

Geometry
1.2K views

L4L CA Math Geometry A Credit 3 Quiz Question 10 B In the figure below...

Basic Math
1.2K views

Write the augmented matrix as a system 4 3001 350 250 0 7 0 3...

Calculus
1.2K views

0 1 0 1 0 1 0 1 0 1 Evaluate the indefinite integral S...

Accounting
1.2K views

Because of the cost and time involved in recruiting and evaluating candidates for sales positions,...

Accounting
1.2K views

A company bought land and a building for $128,000. The building has a useful life...

Accounting
1.2K views

Monitor Devices shows the following overhead information for the current period. Required: What are the...

Accounting
1.2K views

NEED HELP WITH QUESTION Question 3 O pts Brandies, Incorporated reported...

Accounting
1.2K views

[The following information applies to the questions displayed below.] The following calendar year-end information...