Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Q1) Barberry, Inc., produces a product called Fruta. Company utilizes standard cost system and has established following standards for one unit of Fruta:


Standard Quantity Standard Price or Rate Standard Cost
Direct materials 1.5 pounds $6.00 per pound $9.00
Direct Labor 0.6 hours $12.00 per hour 7.20
Variable manufacturing overhead 0.6 hours $2.503 per hour 1.50





$17.70

During June, company recorded this activity relative to production of Fruta:

a. Company produced 3,000 units during June.

b. Total of 8,000 pounds of material were bought at a cost of $46,000.

c. There was a no beginnign inventory of materials; though, at the end of month, 2,000 pounds of material remainded in ending inventory.

d. Company employs 10 persons to work on production of Fruta. In June, each worked average of 160 hours at an average rate of $12.50 per hour.

e. Variable manufacturing overhead is allocated to Fruta on the basis of direct labor-hours. Variable producing overhead costs during June totaled $3,600.

Company's management is anxious to find out the efficeincy of Fruta production activities.

For direct materials utilized in production of Fruta:

find out rate and efficiency variances.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M918754

Have any Question? 


Related Questions in Accounting Basics

Assignmentapplication implementation of the balanced

Assignment Application: Implementation of the Balanced Scorecard APA Format Implementation of the Balanced Scorecard The term "balanced scorecard" became part of the professional accounting vernacular in the early 1990s. ...

Question 1grammys bakery had the following information for

Question 1 Grammy's Bakery had the following information for the pay period ending June 30: Employee Name Pay Rate Hours Worked Cumulative Earnings Department Federal Income Tax Withheld P. Ganster $2,000 Salaried $12,00 ...

Assignment expected value and consumer choicesexpected

Assignment: Expected Value and Consumer Choices Expected Value and Consumer Choices Consumers' choices are prey to subtle discrepancies that arise in cognitive accounting. Learning how and when you are prey to these disc ...

Transfer pricing is the pricing of assets funds services

Transfer pricing is the pricing of assets, funds, services, etc., transferred among related organizations. Using online library resources, and the Internet, conduct research to discuss the transfer pricing regulations an ...

Problem 1panda incs 10-k report contains the following

Problem 1 Panda Inc.'s 10-K report contains the following footnote relating to its leasing activities: At December 31, 2013, the company was committed to non-cancellable leases with remaining terms of one to 15 years. A ...

Learning outcomescode descriptiona1 in-depth and systematic

Learning outcomes Code Description A1 in-depth and systematic understanding of key investment concepts to facilitate strategic real estate investment decision-making A4 critical awareness and understanding of the evolvin ...

Question 1 which of the following results in an increase in

Question 1. Which of the following results in an increase in the equity in investee income account when applying the equity method? Unrealized gain on intercompany inventory transfers for the prior year Amortizations of ...

Choose any one of the following topic and express your

Choose any one of the following topic and express your views on the same: Which areas of Agriculture, Food and Animal feed would you focus for syndicated research and why? OR What would it really take to feed the growing ...

Assignment- fraud in the accounting information systemfor

Assignment- Fraud in the Accounting Information System For this assignment, research the Internet or Strayer databases to locate a firm that was involved in a fraud and / or embezzlement case. Explain how the firm's acco ...

Discussionpart 1 please respond the following question no

Discussion Part 1 please respond the following question no less then 350 words (original work, no plagiarism, 1 reference "Forecasting" Please respond to the following: • Assess the financial performance forecasting proc ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen