MathMaster logo

MathMaster

  1. Home
  2. general
  3. sharp company manufactures a product for which the following standards have been set standard quantity or hours standard p
Question

Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 3 feet $ 5 per foot $ 15 Direct labor? hours? per hour ? During March, the company purchased direct materials at a cost of $55,650, all of which were used in the production of 3,200 units of product. In addition, 4,900 direct labor- hours were worked on the product during the month. The cost of this labor time was $36,750. The following variances have been computed for the month: Materials quantity variance $ 4,500 U Labor spending variance $ 1,650 F Labor efficiency variance $ 800 U Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance. 2. For direct labor: a. Compute the standard direct labor rate per hour. b. Compute the standard hours allowed for the month's production. c. Compute the standard hours allowed per unit of product.

197

likes
984 views

Answer to a math question Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 3 feet $ 5 per foot $ 15 Direct labor? hours? per hour ? During March, the company purchased direct materials at a cost of $55,650, all of which were used in the production of 3,200 units of product. In addition, 4,900 direct labor- hours were worked on the product during the month. The cost of this labor time was $36,750. The following variances have been computed for the month: Materials quantity variance $ 4,500 U Labor spending variance $ 1,650 F Labor efficiency variance $ 800 U Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance. 2. For direct labor: a. Compute the standard direct labor rate per hour. b. Compute the standard hours allowed for the month's production. c. Compute the standard hours allowed per unit of product.

Expert avatar
Ali
4.4
85 Answers
1a. \text{Actual Cost per Foot} = \frac{55,650}{9600} = 5.8 \text{ per foot}

1b. \text{Materials Price Variance} = (5.8 - 5) \times 11,130 = 7,080 U

1c. \text{Materials Spending Variance} = 4,500 U + 7,080 U = 11,580 U

2a. \text{Standard Direct Labor Rate per Hour} = \frac{36,750}{4,900} = 7.5 \text{ per hour}

2b. \text{Standard Hours Allowed for the Month's Production} = \frac{4,900 + 800}{7.5} = 4100 \text{ hours}

2c. \text{Standard Hours Allowed per Unit of Product} = \frac{4,100}{3,200} = 1.28 \text{ hours per unit}

Frequently asked questions (FAQs)
What is the value of cos(π/6) + tan(π/3)?
+
What is the mode of the data set: 5, 7, 9, 7, 5, 4, 6,
+
What is the value of arctan(1/sqrt(3))?
+
New questions in Mathematics
find the value of the tangent if it is known that the cos@= 1 2 and the sine is negative. must perform procedures.
The actual length of an object is 1.3 m . If the blueprint uses a scale of 1 : 12 , what is the length of the line on the drawing?
You are planning to buy a car worth $20,000. Which of the two deals described below would you choose, both with a 48-month term? (NB: estimate the monthly payment of each offer). i) the dealer offers to take 10% off the price, then lend you the balance at an annual percentage rate (APR) of 9%, monthly compounding. ii) the dealer offers to lend you $20,000 (i.e., no discount) at an APR of 3%, monthly compounding.
-4y-6(2z-4y)-6
how many arrangements can be made of 4 letters chosen from the letters of the world ABSOLUTE in which the S and U appear together
prove that if n odd integer then n^2+5 is even
Solve the following equation for x in exact form and then find the value to the nearest hundredths (make sure to show your work): 5e3x – 3 = 25
From 1975 through 2020 the mean annual gain of the Dow Jones Industrial Average was 652. A random sample of 34 years is selected from this population. What is the probability that the mean gain for the sample was between 400 and 800? Assume the standard deviation is 1539
392929-9
Take the limit of (sin(x-4))/(tan(x^2 - 16) as x approaches 4.
viii. An ac circuit with a 80 μF capacitor in series with a coil of resistance 16Ω and inductance 160mH is connected to a 100V, 100 Hz supply is shown below. Calculate 7. the inductive reactance 8. the capacitive reactance 9. the circuit impedance and V-I phase angle θ 10. the circuit current I 11. the phasor voltages VR, VL, VC and VS 12. the resonance circuit frequency Also construct a fully labeled and appropriately ‘scaled’ voltage phasor diagram.
7- A printing company found in its investigations that there were an average of 6 errors in 150-page prints. Based on this information, what is the probability of there being 48 errors in a 1200-page job?
The blood types of individuals in society are as follows: A: 30%, B: 25%, AB: 20%, 0: 25%. It is known that the rates of contracting a certain disease according to blood groups are as follows: A: 7%, B: 6%, AB: 7%, 0: 4%. Accordingly, if a person selected by chance is known to have this disease, what is the probability of having blood group O?
2+2020202
The inner radius of a spherical ball is 13 cm. How many liters of air are in it? Justify your answer!
7-1=6 6x2=12 Explain that
The supply of a good registers periodic increases. With each increase in the offer, the total receipts of the bidders increase. Indicate the correct statement: a) demand is elastic b) demand is inelastic c) supply is inelastic d) supply has unit elasticity.
13/25+7/16
Find the rule that connects the first number to the second number of each pair. Apply the rule to find the missing number in the third pair. (18 is to 22) (54 is to 26) (9 is to ?)
In a cheese factory, one pie costs 3800 denars. The fixed ones costs are 1,200,000 denars, and variable costs are 2,500 denars per pie. To encounter: a) income functions. profit and costs; b) the break-even point and profit and loss intervals.

You might be interested in