1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sedbober [7]
3 years ago
6

Thrope, Inc. purchased 2,400 pounds of direct material at a price of $1.30 per pound. The standard price of the material is $1.4

0 per pound. Thrope used 1,200 pounds in production while the standard pounds allowed for actual production was 900. Calculate the direct materials price and quantity variances and indicate whether the variances are favorable or unfavorable. Direct material price variance $ Direct material quantity variance $
Business
2 answers:
likoan [24]3 years ago
6 0

Answer:

Instructions are below.

Explanation:

Giving the following information:

Standard price= $1.4 per pound

Thrope, Inc. purchased 2,400 pounds of direct material for $1.30 per pound.

Thrope used 1,200 pounds in production while the standard pounds allowed for actual production was 900.

To calculate the direct material price and quantity variance, we need to use the following formulas:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (1.4 - 1.3)*2,400= $240 favorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (900 - 1,200)*1.4= $420 favorable

TiliK225 [7]3 years ago
5 0

Answer:

<em>Price variance  </em><em> $</em><em>240  Favorable</em>

Quantity variance   $ 420  unfavourable

Explanation:

<em>A material price variance occurs where materials are purchased at a price either lower or higher than the standard price. A favorable variance is recorded where the actual total cost of materials is lower that the standard cost. While an adverse variance implies the opposite. </em>

                                                                                    $

2,400 pounds should have cost (2400×$1.40) =   3360

but did cost (actual cost )          = (2400×$1.30) =   <u>3120 </u>

<em>Price variance  </em><em>                                                          </em><u><em>240  Favorable</em></u>

Quantity variance

<em>It is determined by the difference between the actual and standard quantity of material for the actual level of output multiplied by the the standard price  </em>

                                                                          Pounds

standard allowed production                          900

Actual quantity used                                        <u>1,200</u>

Difference                                                           300

Standard price                                               × <u>$1.40</u>

Quantity variance                                             $<u>420   unfavourable </u>

You might be interested in
A company that makes modular bevel gear drives with a tight swing ratio for optimizing fork-lift vehicles was told that the inte
Troyanec [42]

Answer:

The APY is 14.9%

Explanation:

To find the annual percentage yield we need to compute the effective annual rate of interest.

The Effective annual rate of return(EAR) is the equivalent rate to be paid where compounding is done frequently at period or interval less than a year.

Compounding implies the regular interval when interest is always computed; in this scenario, it is monthly.

The EAR can be worked out as follows

EAR = ( (1+r)^m - 1 ) × 100

r- interest rate per period

m- number of periods in a year

EAR - Effective annual rate

r = 3.5%/3 = 1.167 % per month

m= number of months in a year = 12

EAR =( 1.01167^12-1)× 100 = 14.9%

The APY is 14.9%

This implies the quoted interest rate of 3.5% per quarter is the same as paying 14.9% per year

5 0
3 years ago
In July, one of the processing departments at Okamura Corporation had beginning work in process inventory of $26,000 and ending
notsponge [240]

Answer:

Total cost accounted will be $192000

So option (C) will be correct answer

Explanation:

We have given beginning work in process inventory = $26000

Ending work in process inventory = $31000

And cost of units transferred from the department is $161000

We have to find the total cost accounted

Total cost account will be equal to sum of ending process inventory and cost of units transferred out from the department

So total cost accounted = $31000 + $161000 = $192000

So option (C) will be correct answer  

7 0
3 years ago
Why must we always boil our drinking water during and after a cyclone has passed ​
navik [9.2K]

Answer:

Sometimes following a disaster, a boil water alert is issued for areas connected to mains scheme water because the mains water may be unsafe to drink or cook with.

If a boil water alert has been issued, it is essential you follow this warning to prevent illness.

To prepare water for drinking and food preparation, you should heat the water to a rolling boil for at least 1 minute using a stove or kettle and then allow it to cool. This will help to kill any bacteria.

Be sure to keep children clear from any boiling water until the water has cooled down to room temperature.

Once it has cooled it should be placed in the fridge in a clean container with a lid.

Under no circumstances should you drink or cook with water that has not been boiled until the alert is lifted.

Alternatively you can use bottled water.

HOPE THIS HELPS !

PLEASE MARK IT BRAINLIEST!!

4 0
3 years ago
Smiley Industrial Goods has $1,000 face value bonds on the market with semiannual interest payments, 13.5 years to maturity, and
Snezhnost [94]

Answer:

Annual Coupon rate =  66.56990711 / 1000 = 0.06656990711 or 6.656990711% rounded off to 6.66%

Option B is the correct answer

Explanation:

To calculate the price of the bond today, we will use the formula for the price of the bond. We assume that the interest rate provided is stated in annual terms. As the bond is a semi annual bond, the coupon payment, number of periods and semi annual YTM will be,

Coupon Payment (C) = C

Total periods (n) = 13.5 * 2 = 27

r or YTM = 0.064 * 6/12 = 0.032 or 3.2%

The formula to calculate the price of the bonds today is attached.

We will first calculate the value of semi coupon payment  made by the bond.

1023 = C * [( 1 - (1+0.032)^-27) / 0.032]  + 1000 / (1+0.032)^27

1023 = C * 17.8994796  +  427.2166529

1023 -  427.2166529  =  C * 17.8994796

595.7833471 / 17.8994796  =  C

C = 33.28495355 rounded off to 33.28

The annual coupon payment will be = 33.28495355 * 2 = 66.56990711 rounded off to 66.57

Annual Coupon rate =  66.56990711 / 1000 = 0.06656990711 or 6.656990711% rounded off to 6.66%

4 0
3 years ago
Retailers may use online liquidators to address the problem of ________. A) distressed inventory B) shopping cart abandonment C)
Verizon [17]

Answer:

The correct answer is the option A: distressed inventory.

Explanation:

To begin with, in the field of business management and marketing as well, the term of "distressed inventory" refers to the situation where the company has for a long time its products that are not being sell and for that reason the inventory is getting stuck in the business without obtaining profits from that situation. Therefore that in order to address that problem the marketing department alongside with the head manager should start online liquidators to increase the number of sales of those products.

4 0
3 years ago
Other questions:
  • Riverboat Adventures pays $120,000 plus $20,000 in closing costs to buy out a competitor. The real estate consists of land appra
    15·1 answer
  • On January 1, 2019, Charlie Corporation acquires all of the net assets of Rocky Corporation for $2,000,000. The following intang
    12·2 answers
  • Choose a well-known company that you are familiar with, and explain how that company could use each of the five P's of the marke
    10·2 answers
  • In the National Business Ethics Survey, ________ of the employees identified pressure to meet unrealistic objectives as the most
    12·1 answer
  • If common equity financing is 60% of the optimal capital structure and the existing limit of internal equity is $500,000. Solve
    15·1 answer
  • Product prices are set on the marketing budget detail spreadsheet
    14·1 answer
  • Cash flows from operations may not be sufficient for a firm to keep up with growth-related financing needs, or the firm may not
    9·1 answer
  • A service auditor's report on a service center should include a(n) :A. Detailed description of the service center's internal con
    5·1 answer
  • Question text
    10·2 answers
  • Job Number Manufacturing Costs as of June 30 Manufacturing Costs in July 101 $ 3,800 102 3,200 103 960 $ 2,000 104 2,200 4,300 1
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!