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gtnhenbr [62]
2 years ago
9

Gipple Corporation makes a product that uses a material with the quantity standard of 7.3 grams per unit of output and the price

standard am. In January the company produced 3,400 units using 24,870 grams of the direct material. During the month the of S6.00 per gr company purchased 27,400 grams of the direct material at $6.10 per gram. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for January is:
A) $305 F
B) S300 F
C) S300 U
D) S305 U
Business
1 answer:
noname [10]2 years ago
4 0

Answer:

C) $300 U

Explanation:

Gipple Corporation

Material Quantity Variance = (Actual Quantity Used * Standard Unit Cost )-

( Standard Quantity Used * Standard Unit Cost )

Material Quantity Variance =(AQ* SP) -(SQ*SP)

Material Quantity Variance = (24,870* 6)- ( 7.3* 3400 *6)

Material Quantity Variance = (24,870* 6)- (24,820* 6)

Material Quantity Variance = 149220 - 148920

Material Quantity Variance = $300 Unfavorable

As actual quantity is greater than standard quantity it is unfavorable.

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Dragon Autos Inc., an automobile company based in the country of Bear Island, made a capital investment of $300,000 to set up pr
Irina18 [472]

Answer:

Foreign direct investment

Explanation:

Foreign direct investment (FDI) refers to a situation where a firm from country A invests in business in country B. Generally speaking FDI takes place when a firm acquires at least 10% of a business in another country.

In this case Dragon Autos is a company that is based in Bear Island (country A) that is investing $300,000 in the country of Westerland (country B).

FDI amounts to $253.6 billion in the US economy.

5 0
3 years ago
What is the change due if $5.01 is tendered for a charge of $4.21?
faltersainse [42]
The answer is B. Just subtract.
5 0
3 years ago
Read 2 more answers
If the accountant forgets to adjust the Prepaid Expenses account, there will be:_____
ivann1987 [24]

Answer:

Option B, an overstatement of net income, is the right answer.

Explanation:

Option “B” is correct because when the prepaid expenses occur then it is recorded in the balance sheet on the asset side and the cash will be reduced by the same amount. However, if the prepaid expenses have not been adjusted then it will show the overstatement of net income because cash has been gone so actual cash will be lower than the recoded cash. Thus, option B is right.

7 0
2 years ago
A machine was not properly set-up/calibrated which caused a wide variation of quality of the products it produced. This type of
vovangra [49]

Answer:

Hi you haven't provided the options to the question so I will just give the answer in my own words and you can check with the options.

Answer is ASSIGNABLE VARIATION.

Explanation:

Variation is a lack of consistency. It can introduce waste and errors into a process, for example, a manufacturing process.

There are two sources of variation which are:

1. Natural variations: are random variations that are expected and are a part of almost every production process which results from a number of chance causes.

2. Assignable variations: are trend factors that can be traced to a specific reason, such as machine tear, fatigued workers or untrained workers, flawed principles, equipment that is not properly adjusted or calibrated, or raw material problems.

According to the question, a machine was not properly set-up/calibrated which caused a wide variation of quality of the products it produced. Since the cause (improper setup/calibration) can be traced to a specific reason, therefore, the type of variation is an example of ASSIGNABLE VARIATIONS.

6 0
2 years ago
The company's adjusted trial balance includes the following accounts balances: Cash, $15,000; Equipment, $85,000; Accumulated De
Nady [450]

Answer:

Dr Income summary 52,500

Cr Sales Returns and Allowances 3,000

Cr Sales Discounts 1,500

Cr Depreciation Expense 25,000

Cr Salaries Expense 23,000

Explanation:

Preparation of the second closing entry

Based on the information given the second closing entry will be :

Dr Income summary 52,500

(3,000+1,500+25,000+23,000)

Cr Sales Returns and Allowances 3,000

Cr Sales Discounts 1,500

Cr Depreciation Expense 25,000

Cr Salaries Expense 23,000

(Being To record closing of expenses and contra sales accounts

6 0
3 years ago
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