pls solve Exercise 10-8 (Algo) Direct Materials and Direct...
60.1K
Verified Solution
Link Copied!
Question
Accounting
pls solve
Exercise 10-8 (Algo) Direct Materials and Direct Labor Variances [LO10-1, LO10-2] Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materlais: 8 microns per toy at $0.35 per micron Direct labor: 11 hours per toy at $7.40 per hour During July, the company produced 4.800 Maze toys. The toys production dato for the month are as follows: Direct materials 77.000 microns were purchased at a cost of $033 per micron. 29,000 of these microns were still in inventory at the end of the month. Direct labor, 5,780 direct laborhours were worked at a cost or $45,084 Required: 1 Compute the following variances for July Note: Inclicate the effect of each varience by selecting "F" for fovorable, " U " for unfevorable, ond "None "for no effect (I.e, zero variance). Input all omounts as positive velues. Do not round intermediete colculations. Round final answer to the nearest whole dollor amount. a. The materials price and quantiry variances: b. The lobor rate and efficlency vartances
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!
