Under normal conditions, Sarah spends $8.40 per unit of materials, and it will take 3.60 units of material per pair of shoes. During July, Sole Purpose Shoe Company incurred actual direct materials costs of $61,321 for 6,890 units of direct materials in the production of 2,200 pairs of shoes. Complete the following table, showing the direct materials variance relationships for July for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable cost variance, and a positive number for an unfavorable cost variance. Actual Cost Standard Cost Actual Quantity X Actual Price Actual Quantity X Standard Price Standard Quantity X Standard Price fill in the blank aa813e028057f8e_1 X $fill in the blank aa813e028057f8e_2 fill in the blank aa813e028057f8e_3 X $fill in the blank aa813e028057f8e_4 fill in the blank aa813e028057f8e_5 X $fill in the blank aa813e028057f8e_6 = $fill in the blank aa813e028057f8e_7 = $fill in the blank aa813e028057f8e_8 = $fill in the blank aa813e028057f8e_9 Direct Materials Variance: Direct Materials Variance: $fill in the blank aa813e028057f8e_14 $fill in the blank aa813e028057f8e_15 Total Direct Materials Variance: $fill in the blank aa813e028057f8e_18 Question Content Area Direct Labor Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.80 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,610 for 7,290 hours of direct labor in the production of 2,200 pairs of shoes. Complete the following table, showing the direct labor variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance. Actual Cost Standard Cost Actual Hours X Actual Rate Actual Hours X Standard Rate Standard Hours X Standard Rate fill in the blank 227e26f9bff2fe3_1 X $fill in the blank 227e26f9bff2fe3_2 fill in the blank 227e26f9bff2fe3_3 X $fill in the blank 227e26f9bff2fe3_4 fill in the blank 227e26f9bff2fe3_5 X $fill in the blank 227e26f9bff2fe3_6 = $fill in the blank 227e26f9bff2fe3_7 = $fill in the blank 227e26f9bff2fe3_8 = $fill in the blank 227e26f9bff2fe3_9 Direct Labor Variance: Direct Labor Variance: $fill in the blank 227e26f9bff2fe3_14 $fill in the blank 227e26f9bff2fe3_15 Total Direct Labor Variance: $fill in the blank 227e26f9bff2fe3_18

Under normal conditions, Sarah spends $8.40 per unit of materials, and it will take 3.60 units of material per pair of shoes. During July, Sole Purpose Shoe Company incurred actual direct materials costs of $61,321 for 6,890 units of direct materials in the production of 2,200 pairs of shoes. Complete the following table, showing the direct materials variance relationships for July for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable cost variance, and a positive number for an unfavorable cost variance. Actual Cost Standard Cost Actual Quantity X Actual Price Actual Quantity X Standard Price Standard Quantity X Standard Price fill in the blank aa813e028057f8e_1 X $fill in the blank aa813e028057f8e_2 fill in the blank aa813e028057f8e_3 X $fill in the blank aa813e028057f8e_4 fill in the blank aa813e028057f8e_5 X $fill in the blank aa813e028057f8e_6 = $fill in the blank aa813e028057f8e_7 = $fill in the blank aa813e028057f8e_8 = $fill in the blank aa813e028057f8e_9 Direct Materials Variance: Direct Materials Variance: $fill in the blank aa813e028057f8e_14 $fill in the blank aa813e028057f8e_15 Total Direct Materials Variance: $fill in the blank aa813e028057f8e_18 Question Content Area Direct Labor Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.80 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,610 for 7,290 hours of direct labor in the production of 2,200 pairs of shoes. Complete the following table, showing the direct labor variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance. Actual Cost Standard Cost Actual Hours X Actual Rate Actual Hours X Standard Rate Standard Hours X Standard Rate fill in the blank 227e26f9bff2fe3_1 X $fill in the blank 227e26f9bff2fe3_2 fill in the blank 227e26f9bff2fe3_3 X $fill in the blank 227e26f9bff2fe3_4 fill in the blank 227e26f9bff2fe3_5 X $fill in the blank 227e26f9bff2fe3_6 = $fill in the blank 227e26f9bff2fe3_7 = $fill in the blank 227e26f9bff2fe3_8 = $fill in the blank 227e26f9bff2fe3_9 Direct Labor Variance: Direct Labor Variance: $fill in the blank 227e26f9bff2fe3_14 $fill in the blank 227e26f9bff2fe3_15 Total Direct Labor Variance: $fill in the blank 227e26f9bff2fe3_18

Name: Under normal conditions, Sarah spends $8.40 per unit of materials, and
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Under normal conditions, Sarah spends $8.40 per unit of materials, and it will take 3.60 units of material per pair of shoes. During July, Sole Purpose Shoe Company incurred actual direct materials costs of $61,321 for 6,890 units of direct materials

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 5PA: Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but...

See similar textbooks

Question Content Area

Direct Labor

Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.80 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,610 for 7,290 hours of direct labor in the production of 2,200 pairs of shoes.

Complete the following table, showing the direct labor variance relationships for August for Sole Purpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance.

Actual Cost						Standard Cost
Actual Hours	X	Actual Rate		Actual Hours	X	Standard Rate		Standard Hours	X	Standard Rate
fill in the blank 227e26f9bff2fe3_1	X	$fill in the blank 227e26f9bff2fe3_2		fill in the blank 227e26f9bff2fe3_3	X	$fill in the blank 227e26f9bff2fe3_4		fill in the blank 227e26f9bff2fe3_5	X	$fill in the blank 227e26f9bff2fe3_6
	= $fill in the blank 227e26f9bff2fe3_7				= $fill in the blank 227e26f9bff2fe3_8				= $fill in the blank 227e26f9bff2fe3_9
			Direct Labor Variance:				Direct Labor Variance:
			$fill in the blank 227e26f9bff2fe3_14				$fill in the blank 227e26f9bff2fe3_15
					Total Direct Labor Variance:
					$fill in the blank 227e26f9bff2fe3_18

Question Content Area

Budget Performance Report

Expert Solution

Step by step

Solved in 3 steps with 5 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Actual Cost						Standard Cost
Actual Quantity	X	Actual Price		Actual Quantity	X	Standard Price		Standard Quantity	X	Standard Price
fill in the blank aa813e028057f8e_1	X	$fill in the blank aa813e028057f8e_2		fill in the blank aa813e028057f8e_3	X	$fill in the blank aa813e028057f8e_4		fill in the blank aa813e028057f8e_5	X	$fill in the blank aa813e028057f8e_6
	= $fill in the blank aa813e028057f8e_7				= $fill in the blank aa813e028057f8e_8				= $fill in the blank aa813e028057f8e_9
			Direct Materials Variance:				Direct Materials Variance:
			$fill in the blank aa813e028057f8e_14				$fill in the blank aa813e028057f8e_15
					Total Direct Materials Variance:
					$fill in the blank aa813e028057f8e_18