Parsons Company is planning to produce 2,000 units of product in 2020. Each unit requires 3 pounds of materials at $5 per pound and a half-hour of labor at $16 per hour.

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Problems: Standard Costs and Balanced Scorecard

Problem-1: Standard Costs and Balanced Scorecard

Rogen Corporation manufactures product. The standard cost per unit of product is shown below. Direct materials - 1 pound plastic at $7.0 per pound$7.00 Direct labor - 1.6 hours at...

Problem-2: Standard Costs and Balanced Scorecard

Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2020.

Problem-3: Standard Costs and Balanced Scorecard

Rudd Clothiers is a small company the manufactures tall- men's suits. The company has used a standard cost accounting system. In May 2020, 11,250 suits were produced. The following standard...

Problem-4: Standard Costs and Balanced Scorecard

Kansas Company uses a standard cost accounting system. In 2020, the company produced 28,000 units. Each several pounds of direct materials and 1.6 standard hours of direct labor at a...

Problem-5: Standard Costs and Balanced Scorecard

Hart Labs, Inc, provides mad cow disease testing for both state and federal governmental agricultural agencies. Because the company's customers are governmental agencies, prices are strictly regulated. Therefore, hart Labs...

Problem-6: Standard Costs and Balanced Scorecard

Jorgensen Corporation uses standard costs with its job order cost accounting system. In January, an order (Job No. 12) for 1,900 units of product B was received. The standard cost...

Problem-7: Standard Costs and Balanced Scorecard

Using the information in P25-1A, compute the overhead controllable variance and the overhead volume variance.

Problem-8: Standard Costs and Balanced Scorecard

Using the information in P25-1A, compute the overhead controllable variance and the overhead volume variance.

Problem-9: Standard Costs and Balanced Scorecard

Using the information in P25-1A, compute the overhead controllable variance and the overhead volume variance.

Problem-10: Standard Costs and Balanced Scorecard

Using the information in P25-5A, compute the overhead controllable variance and the overhead volume variance.

Problem-11: Standard Costs and Balanced Scorecard

Parsons Company is planning to produce 2,000 units of product in 2020. Each unit requires 3 pounds of materials at $5 per pound and a half-hour of labor at $16...

Problem-12: Standard Costs and Balanced Scorecard

Hank Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 50-gallon batch.

Problem-13: Standard Costs and Balanced Scorecard

Stefani Company has gathered the following information about its product. Direct materials. Each unit of product 4.5 pounds of materials. The average waste and spoilage per unit produced under normal...

Problem-14: Standard Costs and Balanced Scorecard

Monte Services, Inc. is trying establish the standard labor cost a typical oil change. The following data have been collected from time motion studies conducted over the past month.

Problem-15: Standard Costs and Balanced Scorecard

The standard cost of product B manufactured by pharrell Company includes there units of direct materials at $5.00 per unit. During June 29,000 units of direct materials are purchased at...

Problem-16: Standard Costs and Balanced Scorecard

Lewis Company's standard labor cost of producing one unit of product DD is 4 hours at the rate of $12.00 per hour. During August, 40,600 hours of labor are incurred...

Problem-17: Standard Costs and Balanced Scorecard

Levine Inc. which produces a single product, has prepared the following standard cost sheet for one unit of the product.

Problem-18: Standard Costs and Balanced Scorecard

The following direct materials and drict labor data pertain to the operations of Laurel Company for the month of August.

Problem-19: Standard Costs and Balanced Scorecard

You have been given the following information about the production of Usher Co, and are asked to provide the plant manager with information for a meeting with the vice president...

Problem-20: Standard Costs and Balanced Scorecard

During March 2020, Toby Tool & Die Company worked on four jobs. A review of direct labor costs reveals the following summary data.

Problem-21: Standard Costs and Balanced Scorecard

Manufacturing overhead data for the production of product H by shakira company are as follows.

Problem-22: Standard Costs and Balanced Scorecard

Byrd Company produces one product, a putter called GO-putter. Byrd use a standard cost system and determines that it should take one hour of direct labor to produce one GO-putter....

Problem-23: Standard Costs and Balanced Scorecard

Ceelo Company purchased (at a cost of $10,200) and used 2,400 pounds of materials during May. Ceelo's standard cost of materials per unit produced is based on 2 pounds per...

Problem-24: Standard Costs and Balanced Scorecard

Pricard Landscaping plants grass seed as the basic Landscaping for business campuses. During a recent month, the company worked on three project. The company is interested in controlling the materials...