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

Dawson Toys, Umited, produces a toy called the Maze. The compary has recently created a...

90.2K

Verified Solution

Question

Accounting

image
Dawson Toys, Umited, produces a toy called the Maze. The compary has recently created a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.31 per micron Direct labor: 12 hours per toy at $6.90 per hour During July, the company produced 5,100 Maze toys. The toy's production data for the month are as follows Direct materlals. 72,000 microns were purchased at a cost of $027 per micron 27,375 of these microns were still in inventory at the end of the month. Direct labor, 6,520 direct labor-hours were worked at a cost of $47,596 Required: 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfovorable, 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) a. The materials price and quantity variances. b. 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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

7_Briefly describe the research methods of naturalistic observation, case studies, surveys, correlational methods, and experimental research. What...

Psychology
Q

The annual National No Spying Day is celebrated at KAOS headquarters this year. There are 8...

Advance Math
Q

A Pilgrim uses a block and tackle to lift a 225 N crate a distance...

Physics
Q

A radar has a power of 1 kW and is operating at a frequency of...

Physics
Q

10 Part 1 of 2 2 points TUI CULTTUIVISION COmpute comp 1 return on investment...

Basic Math
Q

12 Determine the convergence or divergence of the series and explain 52 2 Inn n...

Calculus
Q

1 1 point The appropriate translation of the phrase 11 more than 20 percent of...

Algebra
Q

This report lists transactions subtotaled by each account on the chart of accounts. Select one:...

Accounting
Q

Carol Garcia, CEO of Sheridan Industries, is concerned about the recent volatility in the company's...

Accounting
Q

Perform a vertical analysis on the following information. (Round your answers to 1 decimal place.)

Accounting
Q

Requirement 1. What is the company's breakeven point in units, assuming that the given sales...

Accounting
Q

Net Present Value Method The following data are accumulated by Geddes Company in evaluating the...

Accounting