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Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two

yan [13]

Answer:

See below.

Explanation:

Since the costs are per 100, to calculate total standard we multiply by 400,000/100 = 4000 and actual qty then is 4060.

For A, standard cost budget at standard prices.

Direct Labor (2*4000) = $8,000

Direct Material (9.1*4000) = $36,400

Factory Overhead (0.55*4000) = $2,200

Total = $46,600

For B, The total cost variances are as follows,

Material cost variance = (Standard Price - Actual Price) * Actual Quantity

where, Standard price = 9.1 and Actual price = (35750/4060) = $8.81

Variance = (9.1 - 8.81) * 4060 = $1177.4 Favorable

Direct labor cost variance = (Standard rate - Actual Rate) * Actual Quantity

where, Standard rate = 2 and Actual rate = (7540/4060) = $1.86

Variance = (2-1.86) * 4060 = $568.4 Favorable

Factory Overhead variance

= Standard applied - Actual applied

Variance = (0.55*4060) - 2680 = $447 Unfavorable

Net effect on total cost variances = (1177.4+568.4-447) = $1298.8 Favorable

For c)

The over all cost performance has favored the business as they ere able to lessen costs in direct labor and material department. However, the fixed costs performance has deteriorated and there may be some technical issues that the company can deal with to ensure they perform better on fixed costs. The over all performance is favorable.

5 0

3 years ago

In the previous year, a company had revenues of $500,000, project overhead of $40,000 and company overhead of $75,000. The compa

AURORKA [14]

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5 0

3 years ago

Read 2 more answers

In the AD partnership, Allen's capital is $140,000 and Daniel's is $40,000 and they share income in a 3:1 ratio, respectively. T

Virty [35]

Answer: Option (B) is correct.

Explanation:

Capital contribution by David = $40,000

Interest of David in partnership = $\frac{1}{5}$

Total capital of the partnership after the admission of new partner:

= $\frac{40,000}{\frac{1}{5} }$

= $200,000

Total capital of partnership before decreasing of obsolete inventory:

= $140,000 + $40,000 + $40,000

= $220,000

Therefore, value of decrease in inventory:

= Total capital before decrease - Total capital after decrease

= $220,000 - $200,000

= $20,000

The reduction in value of inventory will be distributed in old partners in ratio of 3:1

Hence,

Capital balance of Allen after admission of David:

= $140,000 - 20,000\times\frac{3}{4}$

= $125,000

Capital balance of Daniel after admission of David:

= $40,000 - 20,000\times\frac{1}{4}$

= $35,000

5 0

3 years ago

A shipment of frozen fish arrives at your food establishment. you see that the outside bottoms of the shipping cartons have too

Lena [83]

<span>Excess browning at the edges, ice formation at the bottoms of the containers, and are indicators of thawing and refreezing. While in standard at-home practice of refreezing thawed fish is acceptable, it is not during shipping because it is impossible to tell how long the fish were kept out of a cold environment and may transmit disease (plus, visible damage to the fish decreases salability).</span>

8 0

4 years ago

Read 2 more answers

Inventory records for Dunbar Incorporated revealed the following:

svlad2 [7]

Answer:

Cost of goods sold assuming LIFO would be $474

Explanation:

Date Q U.cost Cost Sold Inventory Cost

april 1 530 2,37 1256,1 330 200 474

apri 20 310 2,5 775 310 0 0

640

8 0

3 years ago