%V9 l.UUo homework- m...->Question 1: You have been invited to interview for an internship with an international foodmanufacturing company. When you arrive for the interview, you are given the followinginformation related to a fictitious Belgian chocolatier for the month of June. The chocolatiermanufactures truffles in 12-piece boxes. The production is labor intensive, and the delicatenature of the chocolate requires a high degree of skill.ActualBoxes producedDirect materials used in production10,0002,150,000 g60,200 euroActual direct material costActual direct manufacturing labor-hoursActual direct manufacturing labor cost1,10012,650 euroStandardsPurchase price of direct materialsMaterials per box0.03 euro/g200 g12 euro/hourWage rateBoxes per hour10Required : Compute the price and efficiency variances of direct materials and direct manufacturinglabor.Question 2: Eric Williams is a cost accountant and business analyst for Diamond Design Company(DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: directmaterials and direct manufacturing labor. Williams feels that manufacturing overhead is most closelyrelated to material usage. Therefore, DDC allocates manufacturing overhead to production based uponpounds of materials used. At the beginning of 2017, DDC budgeted annual production of 420,000doorknobs and adopted the following standards for each doorknob:

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Description: %V9 l.UUo homework- m...->Question 1: You have been invited to interview for an internship with an international foodmanufacturing company. When you arrive for the interview, you are given the followinginformation related to a fictitious Belgian cho

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Question 1: You have been invited to interview for an internship with an international food manufacturing company. When you arrive for the interview, you are given the following information related to a fictitious Belgian chocolatier for the month of June. The chocolatier manufactures truffles in 12-piece boxes. The production is labor intensive, and the delicate nature of the chocolate requires a high degree of skill. Actual Boxes produced Direct materials used in production 10,000 2,150,000 g Actual direct material cost 60,200 euro Actual direct manufacturing labor-hours Actual direct manufacturing labor cost 1,100 12,650 euro Standards Purchase price of direct materials Materials per box Wage rate Boxes per hour 0.03 euro/g 200 g 12 euro/hour 10 Required : Compute the price and efficiency variances of direct materials and direct manufacturing labor.

Question 1: You have been invited to interview for an internship with an international food manufacturing company. When you arrive for the interview, you are given the following information related to a fictitious Belgian chocolatier for the month of June. The chocolatier manufactures truffles in 12-piece boxes. The production is labor intensive, and the delicate nature of the chocolate requires a high degree of skill. Actual Boxes produced Direct materials used in production 10,000 2,150,000 g Actual direct material cost 60,200 euro Actual direct manufacturing labor-hours Actual direct manufacturing labor cost 1,100 12,650 euro Standards Purchase price of direct materials Materials per box Wage rate Boxes per hour 0.03 euro/g 200 g 12 euro/hour 10 Required : Compute the price and efficiency variances of direct materials and direct manufacturing labor.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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