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igor_vitrenko [27]
3 years ago
15

A manufactured product has the following information for June. Standard Actual Direct materials (5 lbs. @ $7 per lb.) 39,400 lbs

. @ $7.10 per lb. Direct labor (3 hrs. @ $16 per hr.) 23,100 hrs. @ $16.40 per hr. Overhead (3 hrs. @ $12 per hr.) $ 286,500 Units manufactured 7,800 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable.
Business
1 answer:
Alinara [238K]3 years ago
4 0

Answer:

price variance      3,940 U

quantity variance 2,800 F

Explanation:

DIRECT MATERIALS VARIANCES

(standard\:cost-actual\:cost) \times actual \: quantity= DM \: price \: variance

std cost          $7.00

actual cost  $7.10

quantity      39,400

(7 - 7.10) \times 39,400 = DM \: price \: variance

difference                  $(0.10)

price variance  $(3,940.00)

The difference between std cost and actual cost is negative, we purchased at a higher cost. the variance is unfavorable.

(standard\:quantity-actual\:quantity) \times standard \: cost = DM \: quantity \: variance

std quantity         39,000.00 (7,800 manufactured units x 5 lbs per unit)

actual quantity 39,400.00

std cost                       $ 7.00

(39,000 - 39,400) \times 7 = DM \: quantity \: variance

difference             -400.00

quantity variance $ (2,800.00)

We used more lbs than our standard for the output. This means we are not efficient in the use of materials. this variance is unfavorable as well

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Answer:

Select the answer that best describes the strategies in this game.

  • Both companies dominant strategy is to add the train.

Does a Nash equilibrium exist in this game?

  • A Nash equilibrium exists where both companies add a train. (Since I'm not sure how your matrix is set up I do not know the specific location).

Explanation:

we can prepare a matrix to determine the best strategy:

                                                  Swiss Rails

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EuroRail

      do not add train    $4,000 /             $3,000 /

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Swiss Rails' dominant strategy is to add the train = $1,500 + $4,000 = $5,500. The additional revenue generated by not adding = $5,000.

EuroRail's dominant strategy is to add the train = $4,000 + $7,500 = $11,500. The additional revenue generated by not adding = $5,000.

A Nash equilibrium exists because both companies' dominant strategy is to add a train.

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Answer:

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In this account, the adjusting entry we make as follows

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Provision for Bad Debts    Dr. $$

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The adjusting entry is made as follows,

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The adjusting entry is made,

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When those services are actually rendered to customers, the adjusting entry is made,

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Hi


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I hope that's help:)

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