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
Vaselesa [24]
3 years ago
6

Matt Company uses a standard cost system. Information for raw materials for Product RBI for the month of October follows: Standa

rd price per pound of raw materials $1.60 Actual purchase price per pound of raw materials $1.55 Actual quantity of raw materials purchased 2,000 pounds Actual quantity of raw materials used 1,900 pounds Standard quantity allowed for actual production 1,800 pounds What is the materials purchase price variance?
Business
1 answer:
Troyanec [42]3 years ago
6 0

Answer:

$100 favorable

Explanation:

The computation of the material purchase price variance is shown below:

= Actual Quantity purchased × (Standard Price - Actual Price)

= 2,000 pounds × ($1.60 - $1.55)

=  2,000 pounds × $0.05

= $100 favorable

Simply we took the difference between the standard and the actual price, and then multiply it by the actual quantity purchased

You might be interested in
In two or three sentences, describe the labor market.
Gelneren [198K]
I think the labor market is the nominal market in which workers find paying work, employers find willing workers, and wage rates are determined. 
3 0
3 years ago
Read 2 more answers
the price of summer cabins. as summer​ approaches, the equilibrium price of rental cabins increases and the equilibrium quantity
Roman55 [17]

the price of summer cabins. as summer​ approaches, the equilibrium price of rental cabins increases, and the equilibrium quantity of cabins rented increases increase in demand.

When the price falls below the equilibrium price, the quantity demanded exceeds the quantity supplied, creating an excess demand (short supply) for the product. In other words, consumers want to buy more than producers are willing to sell. This mismatch between supply and demand drives up prices.

Price movements cause equilibrium movement along the supply curve. Such a movement is called a change in supply. Like changes in demand, changes in supply do not shift the supply curve. By definition, it is moved along the supply curve.

Learn more about equilibrium at

brainly.com/question/517289

#SPJ4

4 0
1 year ago
module 3 BlockWood Inc. has been providing raw materials to Couches Corp., a furniture company. The management at Couches recent
maria [59]

The correct answer to this open question is the following.

You forgot to include the options for this question. However, we can answer the following.

This scenario best illustrates forward integration.

This is a case of forward integration because BlockWood Inc., which was facing similar difficulties with other buyers too, eventually stopped supplying raw materials and took to manufacturing furniture instead. SO they decided to fabricate their own furniture.

Companies make this decision as a process of vertical integration to expand and grow their business. In this case to produce and control their own products, eliminating the retailer that had decided to pay less money for the raw materials.

So now, Blockwood Inc. has the challenge to design and sell the products it is fabricating.

6 0
2 years ago
Researchers recruited 20 volunteers - 8 men and 12 women - to take part in an experiment. they randomly assigned the subjects in
SVETLANKA909090 [29]
Yes because there were only 8 men
5 0
3 years ago
Select the statement which best describes the primary purpose of closing entries a. To complete the recording of various transac
ValentinkaMS [17]

Answer: c. To reduce the balances of revenue and expense accounts to zero so that they may be used to accumulate the revenues and expenses of the next period.

Explanation:

Closing entries are the journal entries that are made at the end of an accounting period in order to be able to transfer temporary accounts to the permanent accounts.

The primary purpose of closing entries is to reduce the balances of revenue and expense accounts to zero so that they may be used to accumulate the revenues and expenses of the next period.

Therefore, the correct option is C.

7 0
2 years ago
Other questions:
  • The graph shows excess demand. A graph titled Excess supply has quantity on the x-axis and price on the y-axis. A line with posi
    13·2 answers
  • "The owner of a small restaurant that sells take-out fried chicken and biscuits pays $2,500 in rent each month, $500 in utilitie
    9·1 answer
  • "Roger has just lost a lawsuit and has agreed to make equal annual payments of $14,200 for the next 8 years with the first payme
    11·1 answer
  • The yield to maturity on a bond is:
    6·1 answer
  • Materials derived from natural resources clearly defines which of the following?
    10·1 answer
  • Financial risk management is a component of enterprise risk management (ERM). ERM encompasses the methods and procedures used by
    12·1 answer
  • As the owner of La Boulangerie Bakery in Baton Rouge, Louisiana, you have a devoted clientele savoring your delicacies. Your sal
    15·1 answer
  • Help need ASAP!
    12·1 answer
  • Net working capital increases when: Multiple Choice inventory is sold at cost. fixed assets are purchased for cash. inventory is
    8·1 answer
  • Tamarisk, Inc. gathered the following reconciling information in preparing its April bank reconciliation:
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!