Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. dawson toys, limited, produces a toy called the ma

Dawson Toys, Limited, produces a toy called the Maze with the following standards: ...

80.2K

Verified Solution

Question

Accounting

Dawson Toys, Limited, produces a toy called the Maze with the following standards:
Direct materials: 7 microns per toy at $0.35 per micron
Direct labor: 1.5 hours per toy at $6.70 per hour
During July, the company produced 4,800 Maze toys. The toy's production data for the month are as follows:
Direct materials: 78,000 microns were purchased at a cost of $0.33 per micron. 36,000 of these microns were still in inventory at the end of the month.
Direct labor: 7,700 direct labor-hours were worked at a cost of $56,210.
Required:
Compute the following variances for July:
Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.
The materials price and quantity variances.
The labor rate and efficiency variances.

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1. What is secreted from both natural killer (NK) cells and cytotoxic T (TC) cells from...

Biology
Q

Prove that the sum of angles of a hyperbolic triangle is less than 180. Detailed Proof

Basic Math
Q

23 Monochromatic electromagnetic radiation from a distant source passes through a slit The diffraction pattern...

Physics
Q

200 ms 1 A 10 m long steel wire has mass of 5 g This...

Physics
Q

Write a general formula to describe the variation.The square of T varies directly with the...

Basic Math
Q

ADVANCED ANALYSIS Assume that the consumption schedule for a private open economy is such that...

Calculus
Q

Instead of using inequalities to describe domains and ranges we can use interval notation For...

Algebra
Q

The following changes took place last year in Pavolik Companys balance sheet accounts: Asset and...

Accounting
Q

Giannini Incorporated, which produces and sells a single product, has provided the following contribution format...

Accounting
Q

Checking accounts are one of the most common forms of deposits for banks. Assume that...

Accounting
Q

The following dashboard shows a manufacturers estimated and actual costs for the year. ...

Accounting
Q

Why is it important to create a class such as Admin or Overhead when you...

Accounting