Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. mickley corporation produces two products, alpha6s

Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and...

90.2K

Verified Solution

Question

Accounting

image
Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Information relating to materials purchased and materials used in production during May follows: The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $22.00 per hour in Sintering and $21.00 per hour in Finishing. c. During May, 1,400 direct labor-hours were worked in Sintering at a total labor cost of $33,740, and 3,010 direct labor-hours were worked in Finishing at a total labor cost of $69,230. d. Production during May was 2,200 Alpha6s and 1,000 Zeta7s. Required: 1. Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor. 2. Compute the materials price and quantity variances for each material. 3. Compute the labor rate and efficiency variances for each operation

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

Q1: Liquid drop model of nuclei: Describe how one views a nucleus in this model. What...

Physics
Q

Write a perssuasive, narrative, or Comparison-Contrast, Essay on \"Why Education Is Important\" It must be 3...

Psychology
Q

A fund manager expects to receive a cash inflow of R50,000,000 in three months. The manager wishes...

Finance
Q

1 How many outcomes are in the event B A Answer B

Statistics
Q

Use the to Give Homogeneous Substitution method solve the following differential Equation a general xy...

Calculus
Q

P7 10 8 6 lim f x 00 X 4 4 Choose the correct statement...

Calculus
Q

(SO 2, 3) Calculate direct materials and direct labour variances. E12-31 Jay Levitt Company budgeted...

Accounting
Q

ing Company was started on Januery 1 Year 1 when it issued common stock for...

Accounting
Q

2 Inventory 7 Prepaid Expense 8 Equipment 12 Marketable Securities Accounts Receivable 13 Accumulated Depreciation...

Accounting
Q

Current Attempt in Progress Covington Inc. is considering one of the three following courses of...

Accounting
Q

Ivanhoe Co. purchased a machine on January 1, 2021, for $2,000,000 for the express purpose...

Accounting
Q

Computing Cost of Sales and Ending Inventory Stocken Company has the following financial records for...

Accounting