Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. mickley corporation produces two products, alpha6s

Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and...

90.2K

Verified Solution

Question

Accounting

Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of
the products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards for
each product (on a per unit basis):
Information relating to materials purchased and materials used in production during May follows:
The following additional information is available:
a. The company recognizes price variances when materials are purchased.
b. The standard labor rate is $23.00 per hour in Sintering and $21.50 per hour in Finishing.
c. During May, 1,450 direct labor-hours were worked in Sintering at a total labor cost of $35,090, and 3,020 direct labor-hours were
worked in Finishing at a total labor cost of $70,970.
d. Production during May was 2,300 Alpha6s and 700 Zeta7s.
Required:
Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor.
Compute the materials price and quantity variances for each material.
Compute the labor rate and efficiency variances for each operation.
image

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

Which ONE of the following is a Sub-cultural Functionalist?(a) Pat Carlen(b) Howard Becker(c) Albert Cohen(d)...

Statistics
1.2K views

A researcher at the Nie Pójdzie Motor Club is interested in the average repair bill for...

Medical Sciences
1.2K views

what is the element controlled by the hormones of the thyroid glands and the parathyroid gland

Biology
1.2K views

Please list and briefly explain the two main processes of an ecosystem

Statistics
1.2K views

12 pts I work for a pharmaceutical company and I want to show that our...

Calculus
1.2K views

For u 2 5 and v 4 3 find u v u v

Accounting
1.2K views

Which of these contractual terms would lead a company to account for a lease contract...

Accounting
1.2K views

If sales are $914,000, variable costs are $498,130, and operating income is $260,000, the contribution...

Accounting
1.2K views

\table[[Sales,grad,$,544,000],[Less variable costs:,,,],[Direct materials,grad,$,136,000],[Direct labor,hat(grad),$,96,000],[Manufacturing overhead,grad,$,56,000],[Selling and administrative,,$,16,000],[Contribution margin,,$,240,000],[Less fixed costs:],[Manufacturing overhead,,$,36,000],[Selling and administrative,grad,$,86,000],[Profit,,$,118,000]] ...

Accounting
1.2K views

What is the downside to Beyoncs marketing strategy?

Accounting
1.2K views

correction of an error note and change in estimate

Finance
1.2K views

A recently graduated college player is looking to be a Professional player. After the draft,...