Explore BrainMass

Explore BrainMass

    Reconstructing Standard-Cost Information For Partial Data

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Part of your company's accounting database was destroyed when Godzilla attacked the city. You have been able to gather the following data from your files. Reconstruct the remaining information using the available data. All of the raw material purchased during the period was used in production. (Hint: It is helpful to solve for the unknowns in order indicated by the letters in the following table.)

    Direct Material Direct Labor
    Standard price or rater per unit of input $16/lb e
    Standard quantity per unit of output c f
    Actual quantity used per unit of output a 3.5 hours
    Actual price or rate per unit of input $14/lb $21/hour
    Actual output 20,000 units 20,000 units
    Direct-material price variance $120,000 F -
    Direct-material quantity variance b -
    Total of direct-material variances $40,000 -
    Direct-labor rate variance - d
    Direct-labor efficiency variance - $200,000 F
    Total of direct-labor variances - $130,000F

    © BrainMass Inc. brainmass.com June 3, 2020, 10:38 pm ad1c9bdddf

    Solution Summary

    This solution involves answers for the reconstruction of standard-cost information for partial data in Excel.