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Vaselesa [24]
4 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]4 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

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Castleton Corporation manufactured 41,000 units during March. The following fixed overhead data relates to March: Production Mac
neonofarm [45]

Answer:

Allocated MOH= $120,400

Explanation:

Giving the following information:

The following fixed overhead data relates to March:

Actual 41,000 units 6,020 hours $125,500

Static Budget 39,000 units 5,850 hours $117,000

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 117,000/ 5850= $20 per hour

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 20* 6,020= $120,400

4 0
3 years ago
Andrews Co. can purchase 20,000 units of Part XYZ from a supplier for $18 per part. Andrews' per unit manufacturing costs for 20
trapecia [35]

Answer:

The answer is: Continue to make — $60,000 advantage.

Explanation:

We have to compare the current total costs with the total costs of buying the parts from a supplier.

Current costs

  • total variable manufacturing       $240,000
  • Supervisor's salary                         $60,000
  • Depreciation                                   $20,000
  • <u>Allocated fixed overhead             $140,000</u>
  • Total current cost:                        $460,000

Costs of buying the parts

  • total purchase price                     $360,000
  • Allocated fixed overhead             $140,000
  • <u>Depreciation                                   $20,000</u>
  • total costs for buying the parts   $520,000

Since buying the parts from a supplier is $60,000 more expensive than continue manufacturing ($520,000 - $460,000), Andrews Co. should continue as it is.

3 0
4 years ago
In a business message, the function of a call to action is to
kvv77 [185]

The function of a call to action is to represent what actually you want the audience to do.

The following information related to the call to action is:

  • It is the portion of the message that informs the audience what exactly they have done.
  • In the case when it should be written correctly so it should be feel inspired for doing it.

Therefore, the other options are correct

Thus, we can conclude that the function of a call to action is to represent what actually you want the audience to do.

Learn more about the message here: brainly.com/question/7723255

5 0
3 years ago
5. Calculating tax incidence Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 45 billion
katrin2010 [14]

Answer:

The amount of the tax on a bottle of wine is <u>$3</u> per bottle;

Amount of tax = Amount paid by consumers - Amount received by producers

= 5 - 2

=$3

Of this amount, the burden that falls on consumers is $1 per bottle;

Burden on consumer = Price paid by Consumer after tax - Price paid before

= 5 - 4

= $1

The burden that falls on producers is $2 per bottle;

Burden on producers = Tax - Consumer burden

= 3 - 1

= $2

The effect of the tax on the quantity sold would have been the same as if the tax has been levied on producers. FALSE

If the tax had been on producers then the price might not have increased as it did. This would leave the price at or close to the point it was at and consumers would still be able to afford more of the bottles.

7 0
3 years ago
If a business pays rent in advance and debits a Prepaid Rent account, the company receiving the rent payment will credit
Anton [14]

Answer:

The correct answer is letter "C": Unearned Rent Revenue.

Explanation:

Unearned Revenues are advance payments that a company or individual receives for products and services that it has not yet manufactured or delivered. Unearned Revenue is also called advance payments or deferred revenue. On the company's Balance Sheet, unearned revenue is reported as a liability because it constitutes a debt owed to a client.

Thus,<em> if a company receives rent payment in advance, the amount received will be recorded as a credit to Unearned Rent Revenue.</em>

6 0
3 years ago
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