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19brendaddavenport
07.11.2019 •
Business
Inc. produced 1,000 units of the company's product in 2016. the standard quantity of direct materials was three yards of cloth per unit at a standard cost of $ 1.40 per yard. the accounting records showed that 2,400 yards of cloth were used and the company paid $ 1.45 per yard. standard time was two direct labor hours per unit at a standard rate of $ 9.75 per direct labor hour. employees worked 1, 900 hours and were paid $ 9.25 per hour.
requirements 1. what are the benefits of setting coststandards?
2. calculate the direct materials cost variance and the direct materials efficiency variance as well as the direct labor cost and efficiency variances.
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Ответ:
Instructions are listed below
Explanation:
Giving the following information:
Inc. produced 1,000 units of the company's product in 2016. The standard quantity of direct materials was three yards of cloth per unit at a standard cost of $ 1.40 per yard. The accounting records showed that 2,400 yards of cloth were used and the company paid $ 1.45 per yard. Standard time was two direct labor hours per unit at a standard rate of $ 9.75 per direct labor hour. Employees worked 1, 900 hours and were paid $ 9.25 per hour.
1) Standard costs are beneficial because they set a limit on which to perform. It gives a route to follow and an objective to achieve.
2) Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (1.40 - 1.45)*2,400= $120 unfavorable
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (3yards*1000units - 2400)*1.40= $840 favorable
Direct labor efficiency variance= (SQ - AQ)*standard rate
Direct labor efficiency variance= (2hours*1000 units - 1,900)*9.75= $975 unfavorable
Direct labor price variance= (SR - AR)*AQ
Direct labor price variance= (9.75 - 9.25)*1900= $950 favorable
Ответ:
Media training is a specialized form of communication training for interacting with media. The goal of media training is to assist and prepare you for your role as a company spokesperson. You'll learn how to predict questions, avoid common traps, and focus on delivering your key messages
Explanation:
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