Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

Big dog company ,a manufacturer of dog food, produces its product in 1000 bag batches. the standard cost of each batch consists of 8,000 pounds of direct materials at $0.30 per pound, 48 direct labor hours at $8.50per hour, and a variable overhead cost( based on machine hours) at the rate of 10$ per hour with 16 machines per batch. the following variable costs were incurred for the last 1,000 bag batch produced:

Direct Materials:8,300 pounds costing $2,378 were purchased and used.

Direct Labor....45 hours costing $450
Variable overhead...$225
Machine hours used.... 18 hours

A. determine the actual and standard variable cost per bag of dog food produced, separated into direct materials. direct labor, and variable overhead.

B. For the last 1,000 bag batch determine the standard cost variances for the direct materials, direct labor, and variable overhead.

C. explain the possible causes for each of the variances determined in B

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M9407172

Have any Question?


Related Questions in Accounting Basics

Question -describe the basic characteristics of the cash

Question - Describe the basic characteristics of the cash basis and the accrual basis of accounting. Identify the reasons why adjusting entries must be made. Explain the purpose of deferral adjustments and accrual adjust ...

Have you ever been involved in the budget process at your

Have you ever been involved in the budget process at your organization? If so, describe your role and responsibilities. Do you think people at your level in the organization should provide budget inputs, and why or why n ...

Question - the records of riverbeds boutique report the

Question - The records of Riverbed's Boutique report the following data for the month of April. Sales revenue$100,100 Purchases (at cost) $47,400 Sales returns 1,900 Purchases (at sales price) 95,300 Markups 9,500 Purcha ...

Question - on december 31 year 1 day co leased a new

Question - On December 31, year 1, Day Co. leased a new machine from Parr with the following pertinent information: Lease term 8 years Annual rental payable at beginning of each year $60,000 Useful life of machine 10 yea ...

Questions -q1 our company uses the percentage of sales

Questions - Q1. Our company uses the percentage of sales method to estimate bad debt expense for the year. Our allowance for bad debts account has a debit balance of $1,000 prior to the adjusting entry for bad debt expen ...

Question - john lee is the manager in charge of the audit

Question - John Lee is the manager in charge of the audit of the upcoming annual audit of Hing Fat Ltd, a new audit client. All the preliminary verbal discussions and enquiries among the auditors, the company, the predec ...

Question my choice is starbucksaccess each of the social

Question: My choice is Starbucks Access each of the social media pages for the brand you have selected (Facebook, Twitter, Instagram, etc.). Provide an assessment of the effectiveness of the social media sites: number of ...

Question - eastern manufacturing is involved with several

Question - Eastern Manufacturing is involved with several situations that possibly involve contingencies. Each is described below. Eastern's fiscal year ends December 31, and the 2018 financial statements are issued on M ...

Question - assume a legal entitys capital structure

Question - Assume a Legal Entity's capital structure consists of the following accounts: Short-term note payable $ 200,000 Long-term note payable 500,000 Mandatorily redeemable preferred stock 350,000 Common stock 60,000 ...

Question - if milo ltd sold inventory to lime ltd for 20000

Question - If Milo Ltd sold inventory to lime ltd for $20000 at a mark up of 25%. A quarter of the inventory was sold by 30 June 2016. The remainder was still sold by 30 June 2017. What is the equity accounting journal t ...

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As