Answer:
$1,000 Unfavorable
Explanation:
Calculation to determine what Sheridan Company's materials quantity variance is
Using this formula
Direct Material Price Variance = (Standard quantity allowed - Actual quantity of materials) * materials price standard
Let plug in the formula
Direct Material Price Variance=(5200 pounds-5700 pounds)*$2.00 per pound
Direct Material Price Variance=-500 pound*$2.00 per pound
Direct Material Price Variance=-$1,000
Unfavorable
Therefore Sheridan Company's materials quantity variance is $1,000
Unfavorable
Answer:
Answer is explained below in the explanation section.
Explanation:
First of all, the dates for the October Annual Check-Out weekend will initially be finalized.
And then a Guestimate will be drawn up on the number of guests invited to the weekends.
Afterwards, the event will be discussed in full conversation with the hotel manager and the delays are requested to save the party from the chaos of being cancelled due to full occupancy.
In the end, the last list of guests is drawn up and invitations would be sent.
Only when we know that we'll get the hotel for party will negotiation take place.
Otherwise no use will be made for all arrangements made.
Answer:
The Consolidated Sales are $1,400,000. Whereas, the Consolidated Cost of Sales is $974,400.
Explanation:
The effect of Intra-Group Trading must be removed from the Consolidated Financial Statements. Two adjustments are required:
1st one - The Subsidiary has made Sales of $140,000 to Parent Company. It must be removed from the Accounts because it is like you are telling your Right Side Pocket that you will soon be having money because you have made Sales to Left Side Pocket. So, Debit the Sales and Credit the COS.
2nd one - The unrealized Profit should be added back to the Cost of Goods Sold to remove the effect of Profit gained by the Seller. We are not concerned with the Profit effect in the Goods Sold by Pot Co. to outsiders because it is a realized profit. The matter of concern here is the Profit effect in the unsold Inventory. Pot Co. has 56,000 (140,000 * 40%) stock in-hand. It has Profit Figure of 40%. So, $22,400 (56,000 * 40%) has been added back to Cost of Sales.
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