Latest Lists

Where do I start to work this problem out?

Where do I start to work this problem out? How to do I work this problem out I have been trying to figure it out for sometimes You may use any of the Additional Resources listed in the drop-down menu above to help you complete this activity, but you are not required to do so. To access each resource, click on its name in the drop-down menu above. Scandia Coat Company makes women's and men's coats. Both products require filler and lining material. The following planning information has been made available: Standard quanity Woman’s cooats Mean’s Coat’s Standard Price per Unit Fiber 2.5 lbs 4.0 lbs $1.25 Liner 6.0 yds 8.5 yds 6.50 Standard labor time 0.30 hr 0.45 hr Planned production 4,500 5,000 units Standard labor rate $13.40 per hr $14.80 Scandia Coat does not expect there to be any beginning or ending inventories of filler and lining material. At the end of the budget year, Scandia Coat experienced the following actual results Woman’s coats Men’s coats Actual Production 4,300 5,500 Actualo price per Unit Actual Quantity Purchased and Used Filerq $1.15 per lb 31,950 Liner 6.80 72,050 Actual Labor Rate Actual Labor Hours Used Woman’s Coat $13.25 per hr 1,300 Man’s Coat 15.00 2,425 The expected beginning inventory and desired ending inventory were realized. 1. Prepare the following variance analyses, based on the actual results and production levels at the end of the budget year. a. Direct materials price variance, direct materials quantity variance, and total variance. b. Direct labor rate variance, direct labor time variance, and total variance. Use the minus sign to enter favorable variances as negative numbers. If required, round computations to two decimal places. Compute the combined material variances for the filler and liner. a. Direct materials price variance:________________ Direct materials quantity variance: _______________ Total direct materials cost variance: _______________ Compute the combined labor variances for the women's and men's coats. b. Direct labor rate variance: __________________ Direct labor time variance: ___________________ Total direct labor cost variance: _______________ 3 days ago - 1 day left to answer.

Public Comments

1. You will get a better response if you post this question in the homework section