Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. huron company produces a commercial cleaning compo

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct...

90.2K

Verified Solution

Question

Accounting

image

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.10 pounds 0.20 hours Standard Price or Rate $ 1.80 per pound $12.00 per hour Standard Cost $12.78 $ 2.40 Direct materials Direct labor During the most recent month, the following activity was recorded: a. 19,250.00 pounds of material were purchased at a cost of $1.70 per pound. b. All of the material purchased was used to produce 2,500 units of Zoom. C. 400 hours of direct labor time were recorded at a total labor cost of $5,200. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month. (For all requirements, 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. Round your intermediate calculations to the nearest whole dollar.) 1. Materials price variance Materials quantity variance 2. Labor rate variance 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

Determine the end behavior of 2 f x 5x x 4 x 2 5 x...

Calculus
Q

Zemma Corp: is all equity financed with 20 million shares outstanding. Their shares trade at $15...

Finance
Q

A factor in determining the usefulness of an examination as a measure of demonstrated ability is...

Basic Math
Q

What principles guided President Hoover’s response to the Great Depression, and how did this restrict his...

Civil Engineering
Q

3 Harvey is at the store buying some hummus He has two options available to...

Geometry
Q

36 of 50 Ophelia is hit by another motor vehicle and is injured She has...

Algebra
Q

Required: 1. Complete the worksheet. a.-b. Ending merchandise inventory, $98,700. c. Uncollectible accounts expense, $1,000....

Accounting
Q

One-time items that increase or decrease earnings that will not have sustained impacts into the...

Accounting
Q

Define Corporate Governance and explain what is the relationship between Strategy and Corporate governance for...

Accounting
Q

7A. CD Warehouse purchased equipment for $22,000. CD recorded total depreciation of $13,000 on the...

Accounting
Q

11. Uneven cash flows A series of cash nows may not always necessarily be an...

Finance
Q

During the month of May, direct labor cost totaled $14,985 and direct labor cost was...

Accounting