Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sharp company manufactures a product for which the

Sharp Company manufactures a product for which the following standards have been set: During...

90.2K

Verified Solution

Question

Accounting

Sharp Company manufactures a product for which the following standards have been set:
During March, the company purchased direct materials at a cost of $53,730, all of which were used in the production of 2,875 units of
product. In addition, 4,700 direct labor-hours were worked on the product during the month. The cost of this labor time was $37,600.
The following variances have been computed for the month:
Required:
For direct materials:
a. Compute the actual cost per foot of materials for March.
b. Compute the price variance and the spending variance.
For direct labor:
a. Compute the standard direct labor rate per hour.
b. Compute the standard hours allowed for the month's production.
c. Compute the standard hours allowed per unit of product.
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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

St. Johns River Shipyard’s welding machine is 15 years old, fully depreci- ated, and has no...

Finance
Q

3. The time T required to receive a message at node B from node A is...

Statistics
Q

Outline how risk might be dealt with in levels 1, 2 and 3 of Peck's model...

General Management
Q

Your division of purchasing is composed of two sections, one that acquires goods and another that...

General Management
Q

The highest unemployment rate of the 1990s was what percent A 4 B 8 C...

Biology
Q

If the volume of a rectangular prism is V x 11x 36x 36 and one...

Basic Math
Q

1 point For the surface with parametric equations r s t st s t s...

Calculus
Q

The cost of preferred stock 13 Firms that carry preferred stock in their capital structure...

Accounting
Q

\begin{tabular}{|c|c|c|c|} \hline Date. & Accounts and Explanatian & Debala & Cneda \\ \hline \multicolumn{4}{|l|}{sin1} \\...

Accounting
Q

On January 1, 2025. Crane Co. enters into a contract to sell a customer a...

Accounting
Q

During the first quarter of 2022, Cathrine's Candy Company sales budget consists of $95,000 in...

Accounting
Q

QUESTION 1 10 points The common stock of KRY Enterprises is currently selling for 573.67...

Finance