CHAPTER 24 Control Through Standard Costs
Alternate Problems The following data apply to Roseanne Company liar August when 2,500 units were produced:
Materials used: 16,000 pounds Standard materials per unit: 6 pounds at $5 per pound Materials purchased: 24,000 pounds at $4.80 per pound Direct labor: 5,800 hours at a total cost of $69,600 Standard labor per unit: 2 hours at $11 per hour.
a. Compute the materials and labour variances. b. Prepare journal entries to record the transactions involving these variances.
During April, Shakespeare Company produced 15,000 units of a product called Creative. Creative has a standard materials cost of two pieces per unit at $8 per piece. The actual materials used Consisted of 30,000 pieces at a cost of $230,000. Actual purchases of the materials amounted to 40,000 pieces at a cost of $300,000.
the two materials variances.
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Problem 24-1A Compute materials and labor variances; prepare journal entries XXXXXXXXXX, 5)
Problem 24-2A Compute materials variances (L.O. 4)
Required
1 1. , fitythlem 24-3A