Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the grayson company uses standard costs to account

The Grayson Company uses standard costs to account for its production of a specialty cleaning...

90.2K

Verified Solution

Question

Accounting

The Grayson Company uses standard costs to account for its production of a specialty cleaning product called Green Clean. The
standard cost of materials and direct labour to produce one bottle of Green Clean is as follows:
Both material A and material B are added at the start of the process. Production data for June 2016 are as follows:
a. Beginning work in process, 5,000 units, 25% complete.
b. Started during June, 18,000 units.
c. Ending work in process, 6,000 units, 60% complete.
d. No units were spoiled.
e.28,000 litres of material A was issued to production.
f.12,000 litres of material B was used during June.
g. Direct labour worked totalled 4,800 hours at a cost of $50,000 for the month.
Required:
Determine all of the material and labour variances possible from the preceding data for the month of June. (Indicate the effect of each
variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).)
image

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

human physiology Describe the pathway that sperm travel during ejaculation, beginning in the testes and ending at...

Medical Sciences
Q

list electronic manufacturing processes with its applications.

Mechanical Engineering
Q

What is the difference between superalloys and high-temperature stainless steel?

Mechanical Engineering
Q

Neanderthalsa. evolved in Africa about 400 000 years agob. never hybridize with modern humanc. is...

Biology
Q

Which part of persuasive speech analysis does the following passage determine A chemist with a...

Biology
Q

Question 7 You work for a large farm with many fields of corn You are...

Statistics
Q

The boxplot below shows pulse rates for a random sample of female subjects before and...

Statistics
Q

Please hep me with these journal entries in a governmental accounting problem: Invoices of $260,000...

Accounting
Q

Please fill in the blank and the table below. ...

Accounting
Q

I need help with this question. Thank you. thethod wil be 20,000

Accounting
Q

1) The following information relates to Chesapeake Inc.: Advertising Costs $10,270 Administrative Salaries 24,700 Delivery...

Accounting
Q

Carol made a deposit of $1459.00 into a bank account that earns interest at 4.3%...

Finance