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: Standard Quantity...

80.2K

Verified Solution

Question

Accounting

image
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price Standard or Hour's or Rate Cost 3 feet $5 per foot $ 15 2 hours 7 per hour 7 Direct materials Direct labor During March, the company purchased direct materials at a cost of $45,210, all of which were used in the production of 2,500 units of product. In addition, 4100 direct labor-hours were worked on the product during the month. The cost of this labor time was $30,750. The following variances have been computed for the month Materials quantity variance Labor spending variance Labor efficiency variance $ 3,600 U $ 2,750 U $ 700 U Required: 1. For direct materials Compute the actual cost per foot of materials for March b. Compute the price variance and the spending variance 2. 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. Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 For direct materials, compute the actual cost per foot of materials for March. (Round your

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

Advance Math
1.2K views

6.3.8. Problem. Let f : A → B be a continuous bijection between subsets of R. (a)...

Biology
1.2K views

Humans are referred to as the “ideal mammal”. a) What features of mammals have made them...

Medical Sciences
1.2K views

Indicate whether the following statements apply to digestion of carbohydrate, protein, or triglyceride (fat) If the statement applies...

Chemistry
1.2K views

Write the formula of the coordination compound pentacarbonyliron(0) Write a systematic name for Li2[CoF6]. Write a systematic name for [RuCl2(bipy)2]. Write...

Psychology
1.2K views

What is the “kingdom of ends”? What ideal role does it play in Kant’s ethics? In...

Accounting
1.2K views

Problem 4-01A a-d (Video) The trial balance columns of the worksheet for Warren Roofing at March...

Physics
1.2K views

k 18 10 26 2 10 4 18 10 k 7 2 N m n...

Geometry
1.2K views

Determine the most precise name for the quadrilateral Then find its area A 1 4...

Calculus
1.2K views

A particle is moving with the given data Find the position of the particle s...

Calculus
1.2K views

4 1 Determine the absolute maximum and minimum values for the function below on the...

Accounting
1.2K views

At January 1, 2019, Concord Corporation has beginning inventory of 4000 surfboards. Concord estimates it...

Accounting
1.2K views

I need assistance completing the statement of consolidated earnings and balance sheet, please. ...