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Rus_ich [418]
3 years ago
6

Hushovd Iron Works has collected the following data for its Thunderbolt line of products:Direct materials standard 10 pounds per

unit Direct materials standard cost $0.75 per pound Actual material purchased cost $0.85 per pound Actual direct materials purchased 40,000 pounds Actual quantity of direct materials used 35,000 pounds Actual finished goods produced 4,500 unitsWhat is the direct material price variance?A) $4,000 favorableB) $4,000 unfavorableC) $3,500 favorableD) $3,500 unfavorable
Business
1 answer:
Dima020 [189]3 years ago
7 0

Answer:

The correct answer is D: $3500 unfavorable

Explanation:

Giving the following information:

Standard:

Direct materials standard 10 pounds per unit

Direct materials standard cost $0.75 per pound

Actual:

Material purchased cost $0.85 per pound

Direct materials purchased 40,000 pounds

Direct materials used 35,000 pounds

Finished goods produced 4,500 units

Direct material price variance= (SP-AP)*AQ

SP= standard price

AP= actual price

AQ= standard quantity

Direct material price variance= (0.75-0.85)*35000

Direct material price variance= $3500 unfavorable

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5 0
3 years ago
Read 2 more answers
Lumpkin Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory purc
KATRIN_1 [288]

Answer:

<u>February.</u>

Desired ending inventory = 10% of March Cost of goods(COGS):

= 10% * 35,000

= $3,500

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= 32,000 + 3,500

= $35,500

Beginning inventory = January ending inventory = $3,200

Required Purchases = Inventory needed - Beginning inventory

= 35,500 - 3,200

= $32,300

<u>March</u>

Desired ending inventory = 10% of April COGS:

= 10% * 40,000

= $4,000

Inventory needed:

= 35,000 + 4,000

= $39,000

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Required purchases:

= 39,000 - 3,500

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8 0
2 years ago
The relationship between the future value of a single sum and the corresponding present value of a single sum is determined by t
Schach [20]

Answer:

D

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The Nissan Versa has a starting assistant that lasts at least 3 seconds so that the driver can easily start on slopes.

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Hill Start Assist allows the driver to start on a hill without worrying about backing up. This development has prevented several accidents and is a good invention for those who are just starting to drive.

One of the cars that have this development is the Nissan versa 2022. This car offers a hill-start assistant that allows the driver to have at least 3 seconds to start the car on a slope without the car backing up.

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2 years ago
The following errors took place in journalizing and posting transactions:
kirill115 [55]

Answer: See explanation

Explanation:

The journal entry to correct the errors is given below:

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