Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Direct labor Standard Quantity 1.5 ounces 13 gallons hour 0.95 During the month of July, Collin's employees gave 330 baths. The actual results were 715 ounces of shampoo used (cost of $400.40). 6,300 gallons of water used (cost of $441), and labor costs for 270 hours (cost of $2,916). Complete this question by entering your answers in the tabs below. Standard Rate $0.50 per ounces $0.05 per gallons $10.00 per hour Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. Direct Material Price Variance Direct Material Quantity Variance $ Required 1 Required 2 Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. Note: Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). $ Shampoo 582 75 Standard Unit Cost 0:00 None $ $ $0.75 0.65 9.50 Water 63.00 U 000 None:
Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given: Shampoo Water Direct labor Standard Quantity 1.5 ounces 13 gallons hour 0.95 During the month of July, Collin's employees gave 330 baths. The actual results were 715 ounces of shampoo used (cost of $400.40). 6,300 gallons of water used (cost of $441), and labor costs for 270 hours (cost of $2,916). Complete this question by entering your answers in the tabs below. Standard Rate $0.50 per ounces $0.05 per gallons $10.00 per hour Required: 1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts, direct labor variances for the month of July. Direct Material Price Variance Direct Material Quantity Variance $ Required 1 Required 2 Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. Note: Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). $ Shampoo 582 75 Standard Unit Cost 0:00 None $ $ $0.75 0.65 9.50 Water 63.00 U 000 None:
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog
bath given:
Shampoo
Water
Direct labor
Standard Quantity
1.5
ounces
13
gallons
hour
0.95
Standard Rate
$0.50 per ounces
$0.05 per gallons
$10.00 per hour
During the month of July, Collin's employees gave 330 baths. The actual results were 715 ounces of shampoo used (cost of $400.40).
6,300 gallons of water used (cost of $441), and labor costs for 270 hours (cost of $2.916).
Complete this question by entering your answers in the tabs below.
Required:
1. Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July.
2. Calculate Suds & Cuts, direct labor variances for the month of July.
Direct Material Price Variance.
Direct Material Quantity Variance
$
$
Required 1 Required 2
Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July.
Note: Round your intermediate calculations and final answers to 2 decimal places. Indicate the effect of each variance by
selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).
Shampoo
582 75
Standard Unit
Cost
0.00 None
$
$0.75
0.65
9.50
$
Water
63.00 U
1000 None
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