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3 years ago

LO 8.5Identify several causes of a favorable material quantity variance.

Business

1 answer:

BlackZzzverrR [31]3 years ago

3 0

Answer:

Possible causes of material quantity variance:

1. The use of sub-standard material

2. The use of unskilled labour

3. Wastage of material

Explanation:

Material quantity variance is the difference between standard quantity and actual quantity used multiplied by standard price. The use of sub-standard material reduces the quality of output thereby resulting to unfavorable material quantity variance. The use of unskilled labour also leads to unfavorable material quantity variance. Wastage of material due to low quality of inputs also results to unfavorable material quantity variance.

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When independent measurers get similar results when using the same accounting measurement methods, the financial information is:

Deffense [45]

Answer: verifiable

Explanation:

A financial information is verifiable when the independent measurers get similar results when using the same accounting measurement methods.

In this scenario, the independent measures use thesame method but do their work separately without them knowing the results gotten by the other person. When there's similarity in the results, it shows that the results are verifiable.

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2 years ago

Suppose the total number of minutes provided is less than the total number of minutes estimated, but the total dollar cost of th

Pani-rosa [81]

Answer:

A

Explanation:

In this scenario note that it resulted to total dollar cost of the minutes provided been greater than the budgeted cost of estimated minutes.

Key word there is that the cost incurred is now above the budget, therefore it is very likely that the technicians were being less competent than anticipated at their level, leading to greater cost.

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3 years ago

Willingness to pay

alex41 [277]

Answer:

The correct answer is option a.

Explanation:

The willingness to pay for a product can be defined as the maximum amount an individual is willing to procure or obtain a product. The price of a product lies between a consumer's willingness to pay and a seller's willingness to accept.

The willingness to accept is the minimum amount a seller is willing to accept to let go of a product. Willingness to pay indicates how valuable good is for the buyer.

4 0

3 years ago

When the price of chai tea lattés is $5, maxine buys 20 per month. when the price is $4, she buys 30 per month. maxine's demand

nirvana33 [79]

Answer:

b. elastic, and her demand curve would be relatively flat.

Explanation:

he elasticity of demand is a term that describes the degree of responsiveness of demand due to changes in price. Elastic demand is when demand for a good or service is sensitive to changes in price. A small change in price results in a significant change in the quantity demanded.

Maxine has elastic demand for chai tea. A small decrease in the price of $1 ( 20 percent ) causes the demand to rise by 50 percent. The demand curve for an elastic product is relatively horizontal. It may be referred to as flat. The price is indicated on the Y-axis and the quantity of the X-axis. A small movement of the Y-axis big reaction on the X-axis tilting the demand curve to a horizontal shape.

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3 years ago

At the beginning of the year, the balance in Allowance for Doubtful Accounts is a credit of $760. During the year, previously wr

Tom [10]

Answer:

Given:

Allowance for Doubtful Accounts is a credit of $760

Written off accounts = $120

Accounts totaling = $740

The end-of-year balance (before adjustment) in Allowance for Doubtful Accounts will be computed as:

Allowance for Doubtful Accounts - Accounts totaling + Written off accounts

⇒ $760 - $740 + $120

⇒ $140

therefore, the correct option is (c).

5 0

3 years ago