Question Details
(Solved) Cornerstone Exercise 9.
Cornerstone Exercise 9.1 (Algorithmic)Â Guillermo's Oil and Lube Company is a service company that offers oil changes and lubrication for automobiles and light trucks. On average, Guillermo has found that a typical oil change takes 30 minutes and 6.8 quarts of oil are used. In June, Guillermo's Oil and Lube had 940 oil changes. Required: 1.Â Calculate the number of quarts of oil that should have been used (SQ) for 940 oil changes. 2.Â Calculate the hours of direct labor that should have been used (SH) for 940 oil changes. 3.Â What ifÂ there had been 930 oil changes in June? Would the standard quantities of oil (in quarts) and of direct labor hours be higher or lower than the amounts calculated in Requirements 1 and 2? What would the new standard quantities be? Round your answers to two decimal places.

2.
eBook Cornerstone Exercise 9.2 (Algorithmic)Â Guillermo's Oil and Lube Company is a service company that offers oil changes and lubrication for automobiles and light trucks. On average, Guillermo has found that a typical oil change takes 29 minutes and 6.2 quarts of oil are used. In June, Guillermo's Oil and Lube had 900 oil changes. Guillermo's Oil and Lube Company provided the following information for the production of oil changes during the month of June: Actual number of oil changes performed: 900Â Required: 1.Â Calculate the direct materials price variance (MPV) and the direct materials usage variance (MUV) for June using the formula approach. If required, round your answers to the nearest cent.
2.Â Calculate the total direct materials variance for oil for June. If required, round your answer to the nearest cent. $ Â _________________ Â Â _________________ Â 3.Â What ifÂ the actual number of quarts of oil purchased in June had been 5,330 quarts, and the materials price variance was calculated at the time of purchase? If required, round your answers to the nearest cent. What would be the materials price variance (MPV)? $ Â _________________ Â Â _________________ Â What would be the materials usage variance (MUV)? $ Â _________________ Â Â _________________ Â 
3.
eBook Cornerstone Exercise 9.3Â Guillermo's Oil and Lube Company is a service company that offers oil changes and lubrication for automobiles and light trucks. On average, Guillermo has found that a typical oil change takes 24 minutes and 6.2 quarts of oil are used. In June, Guillermo's Oil and Lube had 980 oil changes. Guillermo's Oil and Lube Company provided the following information for the production of oil changes during the month of June: Required: 1.Â Calculate the direct labor rate variance (LRV) and the direct labor efficiency variance (LEV) for June using the formula approach.
2.Â Calculate the total direct labor variance for oil changes for June. 3.Â What if the actual wage rate paid in June was $12.40? What impact would that have had on the direct labor rate variance (LRV)? On the direct labor efficiency variance (LEV)? Indicate what the new variances would be below. If required, round your answers to the nearest cent. Direct labor rate variance (LRV): Direct labor efficiency variance (LEV): 
4.
eBook Cornerstone Exercise 9.6 (Algorithmic)Â Standish Company manufactures consumer products and provided the following information for the month of February:
Required: 1.Â Calculate the total variable overhead variance. 2.Â What ifÂ actual production had been 128,500 units? How would that affect the total variable overhead variance? Indicate what the new variance would be below. 
5.
eBook Cornerstone Exercise 9.7 (Algorithmic)Â Standish Company manufactures consumer products and provided the following information for the month of February:
Required: 1.Â Calculate the variable overhead spending variance using the formula approach. (If you compute the actual variable overhead rate, carry your computations out to five significant digits and round the variance to the nearest dollar.)Â 2.Â Calculate the variable overhead efficiency variance using the formula approach.Â 3.Â What ifÂ 26,100 direct labor hours were actually worked in February? What impact would that have had on the variable overhead spending variance? What impact would that have had on the variable overhead efficiency variance?Â 
6.
eBook Cornerstone Exercise 9.8 (Algorithmic)Â Standish Company manufactures consumer products and provided the following information for the month of February:
Required: 1.Â Calculate the fixed overhead spending variance using the formula approach. 2.Â Calculate the volume variance using the formula approach. 3.Â What ifÂ 127,600 units had actually been produced in February? What impact would that have had? Indicate what the new variances would be below.

Solution details:
Answered
QUALITY
Approved
ANSWER RATING
This question was answered on: Sep 05, 2019
This attachment is locked
We have a ready expert answer for this paper which you can use for indepth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarismfree solution (Deadline assured. Flexible pricing. TurnItIn Report provided)
Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
About this Question
STATUSAnswered
QUALITYApproved
DATE ANSWEREDSep 05, 2019
EXPERTTutor
ANSWER RATING
GET INSTANT HELP/h4>
We have topnotch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.
You can also use these solutions:
 As a reference for indepth understanding of the subject.
 As a source of ideas / reasoning for your own research (if properly referenced)
 For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
NEW ASSIGNMENT HELP?
Order New Solution. Quick Turnaround
Click on the button below in order to Order for a New, Original and HighQuality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.
WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN YOUR SET DEADLINE.