Marciano Manufacturing Assignment

Marciano Manufacturing uses a standard cost system. Standards for direct materials are as follows: 48) Direct materials (pounds per unit of output) Cost per pound of direct materials The company plans to produce 3500 units and has purchased on account 15.000 pounds of direct materials at a ne cost of 543.200.

What is the lournal entry to record this transaction 45.000 A Raw Materials Inventory Direct Materials Cost Variance Accounts Payable 1800 43 200 03.2001 B) Raw Materials Inventory Direct Materials Cost Variance Accounts Payable 45,000 1200 C) Raw Materials Inventory Direct Materials Cost Variance Accounts Payable 41,400 41,400 D) Raw Materials Inventory Direct Materials Cost Variance Accounts Payable 1800 43,200 49) 49) Under a standard cost system, when recording the use of direct materials in the production process, the debit to Work-in-Process Inventory is A) standard quantity for actual production times actual cost per unit of direct materials (B) standard quantity for actual production times standard cost per unit of direct materials C) actual quantity times standard cost per unit of direct materials D) actual quantity times actual cost per unit of direct materials 50) Under a standard cost system, the journal entry to record direct labor Includes A) a credit for standard quantity usage for actual production times actual cost per hour B) a debit for actual quantity times standard cost per hour C) a credit for standard quantity for actual production times standard cost per hour (D) a debit for standard direct labor quantity for actual production times standard direct labor cost per hour 5) Meridian Fashions uses standard costs for their manufacturing division. The allocation base for overhead costs is direct labor hours. From the following data calculate the faxed overhead.com variance Actual fixed overhead Budgeted fixed overhead Standard overhead allocation rate Standard direct labor hours per unit Actual output $32,000 $24,000 3 DLH 2500 units A) 58000 F B) $36,000 F s2000 u D) $36,000 U 46) Wave Fashions uses standard costs for its manufacturing division. The allocation base for overhead costs is direct labor hours. From the following data, calculate the total fixed overhead variance 46) Actual fixed overhead Budgeted fixed overhead Allocated fixed overhead Standard overhead allocation rate Standard direct labor hours per unit Actual output $40,000 $27,000 $27,000 $6.75 2.00 DLHO 2000 units T A) $13,500F $13,000 D) $13,000 F 47) 47) Which department is usually responsible for a direct materials cost variance due to favorable price negotiations? A purchasing B) engineering C) human resources D) production. .