70.2K

Verified Solution

Link Copied!

please answer F and G

You have been given the following information about the production of Novak Co., and are asked to provide the factory manager with information for a meeting with the vice-president of operations: Standard Cost Card Direct materials (5.80 kg at $3.20 per kilogram) $18.56 Direct labour (0.50 hours at $4.00) 2.00 Variable overhead (0.50 hours at $3.20 per hour) 1.60 Fixed overhead (0.50 hours at $7.00 per hour) 3.50 $25.66 The following is a production report for the most recent period of operations: Variances Total Standard Cost Spending/ Budget Quantity/ Efficiency Costs Price/ Rate Volume Direct materials $369,344 $5,913 F $9,088 U Direct labour 39,800 2.835 U 5,560 U Variable overhead 31,840 $1,170 F ? Fixed overhead 69,650 410 F $13,650 U (a) Your answer is correct. How many units were produced during the period? ? Number of units produced 19900 e Textbook and Media Attempts: 1 of 3 used Using multiple attempts will impact your score. 10% score reduction after attempt 2 (b) Your answer is correct. How many kilograms of raw material were purchased and used during the period? Raw materials purchased 118260 kilograms e Textbook and Media Attempts: 2 of 3 used 2 Using multiple attempts will impact your score. 10% score reduction after attempt 2 (c) Your answer is correct. What was the actual cost per kilogram of raw materials? (Round answer to 2 decimal places, eg. 15.25.) Actual cost per kilogram $ 3.15 /kg eTextbook and Media Attempts: 1 of 3 used 3 Using multiple attempts will impact your score. 10% score reduction after attempt 2 (d) Your answer is correct. How many actual direct labour hours were worked during the period? Actual direct labour hours 11340 hours e Textbook and Media Attempts: 1 of 3 used Using multiple attempts will impact your score. 10% score reduction after attempt 2 le) Your answer is correct. What was the actual rate paid per direct labour hour? (Round answer to 2 decimal places, eg. 15.25.) ( Actual rate $ 4.25 /hr (f) Your Answer Correct Answer (Used) * Your answer is incorrect. What was the actual variable overhead cost incurred during the period? Actual variable overhead 30570 eTextbook and Media Solution Attempts: 3 of 3 used Using multiple attempts has impacted your score. 10% score reduction after attempt 2 * Your answer is incorrect What is the total fixed overhead cost in the company's master budget? Budgeted fixed cost 69240 e Textbook and Media Attempts: 1 of 3 used Submit Answer Save for Later Using multiple attempts will impact your score, 10% score reduction after attempt 2 (h) The parts of this question must be completed in order. This part will be available when you complete the part above

Answer & Explanation Solved by verified expert

See Answer