19. Question Content Area Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 700,000 candles

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19.
Question Content Area
Direct Materials Purchases Budget
Pasadena Candle Inc. budgeted production of 700,000 candles forthe January. Wax is required to produce a candle. Assume 10 ouncesof wax is required for each candle. The estimated January 1 waxinventory is 16,400 pounds. The desired January 31 wax inventory is14,300 pounds. If candle wax costs $1.40 per pound, determine thedirect materials purchases budget for January. (One pound = 16ounces.) Round all computed answers to the nearest whole number.For those boxes in which you must enter subtracted or negativenumbers use a minus sign.
CandlesEstimated beginning inventory, January 1Estimated endinginventory, January 31Unit priceCandles
Estimated beginning inventory, January 31Desired endinginventory, January 1Desired ending inventory, January 31UnitpriceDesired ending inventory, January 31
CandlesEstimated beginning inventory, January 1Estimatedbeginning inventory, January 31Unit priceEstimated beginninginventory, January 1
Total direct materials to be purchased in January
20.
Question Content Area
Direct Labor Variances
Bellingham Company produces a product that requires 5 standarddirect labor hours per unit at a standard hourly rate of $20.00 perhour. If 5,000 units used 24,500 hours at an hourly rate of $20.80per hour, what is the direct labor (a) rate variance,(b) time variance, and (c) cost variance? Enter afavorable variance as a negative number using a minus sign and anunfavorable variance as a positive number.
FavorableUnfavorable
FavorableUnfavorable
21.
Question Content Area
Standard Cost Journal Entries
Bellingham Company produced 4,500 units that require10 standard pounds per unit at a $5.5 standard price perpound. The company actually used 44,100 pounds in production.
Journalize the entry to record the standard direct materialsused in production. If an amount box does not require an entry,leave it blank.
Accounts PayableCashDirect Materials Price VarianceMaterialsWorkin ProcessWork in Process
Accounts PayableCashCost of Goods SoldDirect Materials QuantityVarianceDirect Materials Price VarianceDirect Materials QuantityVariance
Accounts PayableCashCost of Goods SoldMaterialsWork inProcessMaterials