Young Inc. produces plastic bottles. Production of 16-ounce bottles has a standard unitquantity of 0.45 ounce of plastic per bottle. During the month of June, 240,000 bottleswere produced using 110,000 ounces of plastic. The actual cost of plastic was $0.042 perounce, and the standard price was $0.045 per ounce. There is no beginning or ending inventories of plastic. Refer to the information for Young Inc. above.Required:Calculate the materials price and usage variances using the columnar and formula approaches.Use the following information to complete Brief Exercises 10-36 and 10-37:Ambient Inc. produces aluminum cans. Each can has a standard labor requirement of 0.03hour. During the month of May, 500,000 cans were produced using 14,000 labor hours @$15.00. The standard wage rate is $14.50 per hour.
Young Inc. produces plastic bottles. Production of 16-ounce bottles has a standard unitquantity of 0.45 ounce of plastic per bottle. During the month of June, 240,000 bottleswere produced using 110,000 ounces of plastic. The actual cost of plastic was $0.042 perounce, and the standard price was $0.045 per ounce. There is no beginning or ending inventories of plastic. Refer to the information for Young Inc. above.Required:Calculate the materials price and usage variances using the columnar and formula approaches.Use the following information to complete Brief Exercises 10-36 and 10-37:Ambient Inc. produces aluminum cans. Each can has a standard labor requirement of 0.03hour. During the month of May, 500,000 cans were produced using 14,000 labor hours @$15.00. The standard wage rate is $14.50 per hour.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter10: Standard Costing And Variance Analysis
Section: Chapter Questions
Problem 35BEB: Use the following information to complete Brief Exercises 10-34 and 10-35: Young Inc. produces...
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Young Inc. produces plastic bottles. Production of 16-ounce bottles has a standard unit
quantity of 0.45 ounce of plastic per bottle. During the month of June, 240,000 bottles
were produced using 110,000 ounces of plastic. The actual cost of plastic was $0.042 per
ounce, and the standard price was $0.045 per ounce. There is no beginning or ending inventories of plastic.
Refer to the information for Young Inc. above.
Required:
Calculate the materials price and usage variances using the columnar and formula approaches.
Use the following information to complete Brief Exercises 10-36 and 10-37:
Ambient Inc. produces aluminum cans. Each can has a standard labor requirement of 0.03
hour. During the month of May, 500,000 cans were produced using 14,000 labor hours @
$15.00. The standard wage rate is $14.50 per hour.
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