Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. crystal charm company makes handcrafted silver cha

Crystal Charm Company makes handcrafted silver charms that attach to jewelry such as a necklace...

70.2K

Verified Solution

Question

Accounting

image

Crystal Charm Company makes handcrafted silver charms that attach to jewelry such as a necklace or bracelet. Each charm is adorned with two crystals of various colors. Standard costs follow: Standard Unit Cost Silver Crystals Direct labor Quantity Standard (Rate) 0.30 oz. $27.00 per oz. 7.00 0.30 per crystal 2.00 hrs. $17.00 per hr $ 8.10 2.10 34.00 During the month of January, Crystal Charm made 1,610 charms. The company used 458 ounces of silver (total cost of $12,824) and 11,320 crystals (total cost of $3,169.60), and paid for 3,370 actual direct labor hours (cost of $55,605.00). Required 1. Calculate Crystal Charm's direct materials variances for silver and crystals for the month of January. (Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Silver Crystals Direct Material Price Variance Direct Material Quantity Variance 2. Calculate Crystal Charm's direct labor variances for the month of January. (Round your intermediate calculations and final answers to 2 decimal places.Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Direct Labor Rate Variance Direct Labor Efficiency Variance

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

Q

Which of the following is true about food-borne infections? A. Requires the growth of the organism prior...

Biology
Q

The triprotic acid H3A has ionization constants of Ka1 = 1.6× 10–3, Ka2 = 2.4× 10–9,...

Chemistry
Q

The air pressure inside the tube of a car tire is 353 kPa at a temperature...

Physics
Q

The Companies Act 2016 repealed the Companies Act 1965 and changed the landscape of company law...

Accounting
Q

Enzymes assistance in the occurrence of reaction Enzymes catalyze reactions by Multiple Choice Oraising activation...

Biology
Q

Water flows through a garden hose at 178 cm/s. It fills a 20.0-liter bucket (1...

Physics
Q

can I know what is cost to date incurred and what is cost to complete...

Accounting
Q

Check my work On January 1, 2017, Corgan Company acquired 80 percent of the outstanding...

Accounting
Q

! Required information [The following information applies to the questions displayed below.) Henna Co. produces...

Accounting
Q

The Varsity Division of CC Industries supplies the Natick Division with 110,000 units per month...

Accounting
Q

n amount of $5000 was invested with an annual interest rate of 5.5% compounded monthly....

Finance
Q

what is the value to you of a 10% coupon bond with semi annual coupon...

Finance