Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dogbath given:ShampooWaterDirect laborStandard Quantity2.9271.65ouncesgallonshourStandard Rate$0.50Standard UnitCostper ounces$1.451.0819.80$0.04 per gallons$12.00 per hourDuring the month of July, Collin's employees gave 470 baths. The actual results were 785 ounces of shampoo used (cost of $471.00),7,700 gallons of water used (cost of $616), and labor costs for 410 hours (cost of $5,371).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.> Answer is complete but not entirely correct.Complete this question by entering your answers in the tabs below.Required 1 Required 2Calculate Suds & Cuts, direct labor variances for the month of July.Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e.,zero variance). Round your answers to nearest dollar amount.Direct Labor Rate Variance$451 UDirect Labor Efficiency Variance$4,385 F

Let's examine the computations for each variance in more depth. 1. Variances in Direct Materials:…

Answered: Suds & Cuts is a local pet grooming…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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: Standard Quantity Standard Rate Standard Unit Cost Shampoo 1.4 oz. $ 0.40 per oz. $ 0.56 Water 12 gal. $ 0.04 per gal. 0.48 Direct labor 0.9 hr. $ 9.00 per hr. 8.10 During the month of July, Collin’s employees gave 320 baths. The actual results were 710 ounces of shampoo used (cost of $340.80), 6,200 gallons of water used (cost of $434), and labor costs for 260 hours (cost of $2,756). 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.
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 Standard Quantity 2.2 oz. 20 gal. Standard Rate $ 0.50 per oz. Direct labor 1.3 hr. $0.04 per gal. $11.00 per hr. Standard Unit Cost $ 1.10 0.80 14.30 During the month of July, Collin's employees gave 400 baths. The actual results were 750 ounces of shampoo used (cost of $435.00), 7,000 gallons of water used (cost of $560), and labor costs for 340 hours (cost of $4,216). 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Suds & Cuts direct materials variances for both shampoo and water for the month of July. (Round your answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for…
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: Standard Quantity 1.9 oz. $ 0.20 per oz. 17 gal. $ 0.04 per gal. Standard Standard Rate Unit Cost $ 0.38 0.68 11.50 Shampoo Water Direct labor 1.15 hr. $10.00 per hr. During the month of July, Collin's employees gave 370 baths. The actual results were 735 ounces of shampoo used (cost of $205.80), 6,700 gallons of water used (cost of $536), and labor costs for 310 hours (cost of $3,658). 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. int Complete this question by entering your answers in the tabs below. etences Required 1 Required 2 Calcuiate Suds & Cuts direct materials variances for both shampoo and water for the month of July. (Round your answers to 2 decimal places. Indicate the effect of each variance by…
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 Standard Quantity 2.3 oz. 21 gal. Direct labor 1.35 hr. Standard Rate $ 0.60 per oz. $ 0.05 per gal. $11.00 per hr. Standard Unit Cost $ 1.38 1.05 14.85 During the month of July, Collin's employees gave 410 baths. The actual results were 755 ounces of shampoo used (cost of $520.95), 7,100 gallons of water used (cost of $639), and labor costs for 350 hours (cost of $4,375). 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 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Suds & Cuts direct materials variances for both shampoo and water for the month of July. (Round your answers to 2 decimal places. Indicate the…
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 2.9 ounces 27 1.65 gallons hour Standard Rate $0.50 Standard Unit Cost per ounces $0.04 per gallons $12.00 per hour $1.45 1.08 19.80 During the month of July, Collin's employees gave 470 baths. The actual results were 785 ounces of shampoo used (cost of $471.00), 7,700 gallons of water used (cost of $616), and labor costs for 410 hours (cost of $5,371). 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Suds & Cuts, direct labor variances for the month of July. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no…
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 Unit 3 Standard Quantity ounces Standard Rate Cost $0.60 per ounces $1.80 28 gallons 1.7 hour $0.07 $12.00 per gallons per hour 1.96 20.40 During the month of July, Collin's employees gave 480 baths. The actual results were 790 ounces of shampoo used (cost of $560.90), 7,800 gallons of water used (cost of $624), and labor costs for 420 hours (cost of $5,544). 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. Complete this question by entering your answers in the tabs below. W 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.…
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: Standard Quantity 2.5 oz. 23 gal. $ 0.04 per gal. Standard Standard Rate Unit Cost $ 0.10 per oz. Shampoo Water Direct labor 1.45 hr. $ 0.25 0.92 15.95 $11.00 per hr. During the month of July, Collin's employees gave 430 baths. The actual results were 765 ounces of shampoo used (cost of $153.00). 7,300 gallons of water used (cost of $584), and labor costs for 370 hours (cost of $4,551). 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate Suds & Cuts direct materials variances for both shampoo and water for the month of July. (Round your answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for…
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 2.5 23 1.45 ounces gallons hour Standard Rate $0.10 per ounces $0.04 per gallons $11.00 per hour During the month of July, Collin's employees gave 430 baths. The actual results were 765 ounces of shampoo used (cost of $153.00), 7,300 gallons of water used (cost of $584), and labor costs for 370 hours (cost of $4,551). Required 1 Required 2 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. Complete this question by entering your answers in the tabs below. Direct Material Price Variance Direct Material Quantity Variance Standard Unit Cost $0.25 0.92 15.95 Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. Note: Round your…
857 es 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 ounces gallons hour 2 18 1.2 Required 1 Required 2 Standard Rate $0.30 per ounces $0.05 per gallons $11.00 per hour During the month of July, Collin's employees gave 380 baths. The actual results were 740 ounces of shampoo used (cost of $259.00). 6,800 gallons of water used (cost of $544), and labor costs for 320 hours (cost of $3,840). Standard Unit Cost 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. Complete this question by entering your answers in the tabs below. Direct Material Price Variance Direct Material Quantity Variance $0.60 0.90 13.20 Calculate Suds & Cuts, direct materials variances for both shampoo and water for the month of July. Note: Round…
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: During the month of July, Collin’s employees gave 490 baths. The actual results were 795 ounces of shampoo used (cost of $643.95), 7,900 gallons of water used (cost of $632), and labor costs for 430 hours (cost of $5,719). standard quantity standard rate standard unit cost shampoo 3.1 oz. $0.70 per oz $2.17 water 29 gal. $0.07 per gal 2.03 Direct labor 1.75 hr $12.00 per hr 21.00 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.
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Revenue Raw materials Wages Utilities Rent Insurance Miscellaneous Revenue Expenses: Fixed Element per Month Raw materials Wages Utilities Rent $ 6,500 $ 2,530 $3,500 $2,250 $ 740 Insurance Miscellaneous While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of liters of gelato sold. For example, wages should be $6,500 plus $2.30 per liter of gelato sold and the actual wages for June were $21,300. Via Gelato expected to sell 6,400 liters in June, but actually sold 6,600 liters. Total expense Net operating income Variable Element per Actual Total Liter for June $ 21.00 $ 133,540 $ 5.55 $ 37,130 $ 21,300 $ 10,000 Required: Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect…
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Revenue Raw materials Mages Utilities Rent Insurance Miscellaneous $ 1.35 While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of liters of gelato sold. For example, wages should be $6,600 plus $2.40 per liter of gelato sold and the actual wages for June were $21,000. Via Gelato expected to sell 6,000 liters in June, but actually sold 6,200 liters. Revenue Expenses Fixed Variable Element Element per Month per Liter $ 22.00 $5.65 $2.40 $ 1.20 Required: Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Via Gelato Revenue and Spending Variances For the Month Ended June 30 Raw materials $ 6,600 $ 2,630 $ 3,600 $…

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