Answer:
A. $55,125 favorable
Explanation:
The direct materials quantity variance is given by the difference between actual quantity used in production and the standard quantity valued at the standard cost.
Actual quantity used in production = 9,900 pounds
Standard quantity for actual units produced = 16,200 pounds
Standard cost per pound =$8.75.
The direct materials quantity variance is:
Since the company used a lesser quantity than the expected (standard) quantity, the balance is favorable.
Therefore, the answer is A. $55,125 favorable.
The NFPA - National Fire Protection Association is responsible for coming up with professional qualifications standards.
They are set up with the purpose of preventing and or reducing the occurrence of death, loss of lives, property and businesses arising from fire, electrical hazards, and similar risks.
It is the belief of the NFPA that employing rightly is critical to the attainment of these objectives.
Knowledge, Skills, and Abilities (KSA) must also be developed perperly if existing and incumbent staff are to remain efficient at their jobs.
As with every other job/organization that bears directly on life and property, the NFPA's processes are held to very high standards.
Learn more about the NFPA in the link below:
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Answer:
Shortage = 182 units
Explanation:
Given:
Quantity demanded = 385
Quantity supplied = 203
Find:
Shortage
Computation:
In economic terms, a shortage occurs when the amount sought exceeds the quantity available at the market price.
Shortage is difference between Quantity demanded and Quantity supplied.
Shortage = Quantity demanded - Quantity supplied
Shortage = 385 - 203
Shortage = 182 units
<u>Specialization</u> is added at every step of the supply chain which could the reason for the existence of a supply chain.
<h3>What is meant by supply chain?</h3>
A supply chain is a linkage between the company and its vendors for product distribution in the market for sale.
The supply chain involves many entities like production firms, vendors, distribution companies, transportation companies, etc. Every step of the supply chain needs specialized expertise for performing the operations like the production firm needs raw materials to convert the goods into saleable ones.
Therefore, the existence of a supply chain would be due to specialization which requires in every step of it.
Learn more about the supply chain in the related link:
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Answer:
Explanation:
Beginning work in process inventory $25,400
Add: Costs added to production during the month $297,000
Total cost to be accounted for $322,400
So in the department's cost reconciliation report for August, the total cost to be accounted for would be $322,400