Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the valley plant of patton supply manufactures a s

the valley plant of patton supply manufactures a single product. the standard cost sheet for...

80.2K

Verified Solution

Question

Accounting

The Valley Plant of Patton Supply manufactures a single product. The standard cost sheet for the product follows: Direct materials, 2 pounds at $10.00 per pound $ 20 Direct labor, 0.8 hours at $31.25 per hour 25 Factory overhead applied at 120% of direct labor (variable costs = $18; fixed costs = $12) 30 Variable selling and administrative cost 15 Fixed selling and administrative cost 17 Total unit costs $ 107 Standards have been computed based on a master budget activity level of 20,250 direct labor-hours per month. Actual activity for the past month was as follows: Materials used 46,600 pounds at $9.90 per pound Direct labor 17,900 hours at $32 per hour Total factory overhead $ 662,000 Production 22,650 units Required: a. Prepare variance analyses for the variable and fixed costs. b. Complete the following table with the total variance for a resource

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

Finance
1.2K views

Analyze the prospectuses of five companies going public. What are the reasons they state for going...

Basic Math
1.2K views

Use Lagrange multipliers to find the distance from the point (2, 0, ?1) to the plane 4x ?...

Biology
1.2K views

Match the vocabulary for Evolution: Species, Populations, Heritable Variation, Adaptations A) Genetic differences in individuals within a...

Psychology
1.2K views

SLO3- Explain how cultural ideas of marriage and family are shaped by the social structure. This question is...

Mechanical Engineering
1.2K views

11. A cast iron flywheel is to be designed for a single cylinder double acting steam...

Biology
1.2K views

Answer all 3 your own words don t copy the answer off the internet 1...

Geometry
1.2K views

For Questions 5 7 refer to the figure to determine which is a true statement...

Calculus
1.2K views

M Which of the following represents the graph of f lx like uns OA None...

Accounting
1.2K views

Statement of Shareholders' Equity On January 1,...

Accounting
1.2K views

Q3. Performance reviews/appraisals is a very critical part of the performance management process. Justify the...

Accounting
1.2K views

During the audit, the auditor may discover deficiencies in the clients system of internal control....

Accounting
1.2K views

The following changes took place last year in Pavolik Companys balance sheet accounts: ...