Tamarisk Corp. supplies its customers with high-quality canvas tents. These canvas tents sell for $170...

60.1K

Verified Solution

Question

Accounting

Tamarisk Corp. supplies its customers with high-quality canvas tents. These canvas tents sell for $170 each, with the following DM
and DL usage and price expectations.
Direct materials 9 square yards per unit @ $6/square yard
Direct labor ,1 DL hours per unit @$17? DL hour
Variable-MOH 1DL hours per unit @ $3.00/DL hour
Throughout the year, Tamarisk used 2,880 DL hours in the process of making 3,000 tents. The company had originally planned to
produce and sell 2,800 tents. Its actual variable-MOH costs totaled $8,784 for the year.
(a)
Your answer has been saved. See score details after the due date.
Determine Tamarisk's variable-MOH price and efficiency variances. Also identify whether the company's variable-MOH costs
were under- or overapplied, and by how much.
eTextbook and Media
List of Accounts
Attempts: 1 of 1 used
(b)
Record the journal entries to accompany the following transactions for variable-MOH: (1) actual variable-MOH cost incurred
(consider that half was for utilities not yet paid, and half was for accrued indirect labor),(2) allocation of variable-MOH cost to
production, and (3) recognition of specific variable-MOH variances (while closing out the Variable-MOH Control account).(Credit
account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for
the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
No. Account Titles and Explanation
Debit
Credit
(1)
(2)
(3)
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