Silmon Corporation makes a product with the following standard costs:
Standard Quantity or Hours Standard Price or Rate
Direct materials 5.1 grams $ 6.00 per gram
Direct labor 0.5 hours $ 13.00 per hour
Variable overhead 0.5 hours $ 2.00 per hour
The company produced 5,300 units in January using 39,410 grams of direct material and 2,390 direct labor-hours. During the month, the company purchased 44,500 grams of the direct material at $1.80 per gram. The actual direct labor rate was $20.30 per hour and the actual variable overhead rate was $6.90 per hour.
The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.
The materials quantity variance for January is:
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Silmon Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Agribusiness dominance of the food production industry led to a. high wages for workers on large farms. b. small famers allying against agribusiness. c. migration of poor rural people to cities. d. widespread wealth in rural areas.
Answers (1)
A store's buyer places an order for three dozen coffee mugs at a cost of $3.75 each, four dozen plastic glasses at a cost of $1.00 each, and two dozen insulated soft drink holders at a cost of $0.50 each. The delivery charge for this order is $7.50.
Answers (1)
Oriole Corp. will pay dividends of $5.00, $6.25, $4.75, and $3.00 in the next four years. Thereafter, management expects the dividend growth rate to be constant at 8 percent. If the required rate of return is 17.
Answers (1)
Nachman Industries just paid a dividend of D 0 = $1.32. Analysts expect the company's dividend to grow by 30% this year, by 10% in Year 2, and at a constant rate of 5% in Year 3 and thereafter. The required return on this low-risk stock is 9.00%.
Answers (1)
Proper segregation of functional responsibilities calls for separation of: A. custody, execution, and reporting. B. authorization, recording, and custody. C. authorization, payment, and recording. D. authorization, execution, and payment.
Answers (1)
New Questions in Business
The following transactions occurred during the first year of operations for Cougar Corp. for each transaction prepare the year-end adjusting journal entry. Note: these ARE adjusting entries. a. Cougar Corp.
Answers (1)
Given the following information for a one-year project, answer the following questions. Recall that PV is the planned value, EV is the earned value, AC is the actual cost, and BAC is the budget at completion.
Answers (1)
Preferred Stock, 7%, $115 par $1,170,000 Common Stock, $1.50 par 300,000 Paid in capital in excess of par, common stock 1,200,000 Retained earnings 2.500.
Answers (1)
On January 1, 2013, M. Johanson Company purchased equipment for $36,000. The company is depreciating the equipment at the rate of $500 per month. The book value of the equipment at December 31, 2013 is:A) $0. B) $6,000. C) $30,000. D) $36,000.
Answers (1)
Department B had a beginning inventory of 2,400 units, 25% completed; an ending inventory of 2,700 units, 2/3 completed, and received 4,900 units during the period from Department A.
Answers (1)