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IceJOKER [234]
3 years ago
5

Garfield Company produces a commercial cleaning compound called Super Scrub. The direct materials and direct labor standards for

one unit of Super Scrub are given below: Standard Quantity or Hours Standard Price or Rate Direct Materials 2.5 pounds $8.25 per pound Direct Labor 15 mins, or .25 hours $14.00 per hour During the most recent month, Garfield recorded the following activity: a) The company purchased 1,440 pounds of material at a cost of $8.35 per pound. b) All of the material purchased was used to make 600 units of Super Scrub. c) A total of 170 hours of actual direct labor time was recorded at an average rate of $13.50 per hour. (26) The materials cost variance was:
Business
1 answer:
agasfer [191]3 years ago
8 0

Answer:

Direct material price variance= $144 unfavorable

Explanation:

Giving the following information:

Standard Direct Materials 2.5 pounds $8.25 per pound.

During the most recent month, Garfield recorded the following activity: a) The company purchased 1,440 pounds of material at a cost of $8.35 per pound. b) All of the material purchased was used to make 600 units of Super Scrub.

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (8.25 - 8.35)*1,440= $144 unfavorable

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Farmer raising sheep.

3 0
3 years ago
Read 2 more answers
Jayhawk had previously purchased merchandise for $40,000 The company returned $4,000 of the merchandise previously purchased bec
ki77a [65]

Answer:

the options are missing, but I wrote down the two possible answers

the journal entry to record the purchase assuming perpetual inventory method:

Dr Merchandise inventory 40,000

    Cr Accounts payable 40,000

the journal entry to record the damaged merchandise assuming perpetual inventory method:

Dr Accounts payable 4,000

    Cr Merchandise inventory 4,000

<h2>OR</h2>

the journal entry to record the purchase assuming periodic inventory method:

Dr Purchases 40,000

    Cr Accounts payable 40,000

the journal entry to record the damaged merchandise assuming periodic inventory method:

Dr Accounts payable 4,000

    Cr Purchases returns 4,000

8 0
3 years ago
A company is deciding if it should design an advertising system for use on Twitter©. The first option is to skip out on designin
Vladimir79 [104]

Answer:

SYSTEM A

Explanation:

Given the following :

First option :

Skip design = No net gain or loss

System A:

Additional sales of $50,000 under good condition

Additional sales of $10,000 under bad condition

System B:

Increase sale by $20,000 under both good and bad condition

Cost of system development = $25,000

Good condition are twice as likely to occur as bad condition

Hence, we have : good, good, bad

Probability of good = 2/3 = 0.667

Probability of bad = 1/3 = 0.333

We can calculate the Expected monetary Value of the three options :

First option:

Skip design : Expected monetary Value = $0

Second option (SYSTEM A) :

Profit from good condition :

Additional sales - system cost = ($50,000 - $25,000) =$25, 000

Loss from bad condition :

($25,000 - $10,000) = - $15,000

Expected monetary value:

(0.667 * 25000) + (0.33 * - 15000)

$16675 - $4950

= $11,680

Third option (SYSTEM B) :

Additional sales - system cost

$20,000 - $25,000 = - $5,000

From the expected monetary value obtained for the three options, System A is the best option with $11,680

4 0
3 years ago
The following is information for Palmer Company. Year 3 Year 2 Year 1 Cost of goods sold $ 643,825 $ 426,650 $ 391,300 Ending in
Vlad1618 [11]

If  Palmer Company. Year 3 Year 2 Year 1 Cost of goods sold $ 643,825 $ 426,650 $ 391,300 Ending inventory 97,400 87,750 92,500 compute inventory turnover for Year 3 and Year 2, and its days' sales in inventory at December 31, Year 3 and Year 2:

a) Inventory turnover for Year 2, and its days' sales in inventory at December 31, Year 2

Inventory turnover =$426,650/($92,500+$87,750)/2

Inventory turnover=$426,650/$90,125

Inventory turnover=4.7 times

Days' sales in inventory=$87,750/$ 426,650×365 days

Days' sales in inventory=$87,750

Days' sales in inventory=75.07 days

b) Inventory turnover for Year 3, and its days' sales in inventory at December 31, Year 3

Inventory turnover=$643,825 /($87,750+$97,400)/2

Inventory turnover=$643,825/$92,575

Inventory turnover=6.95 times

 

Days' sales in inventory=$97,400/$643,825×365 days

Days' sales in inventory=55.22 days

Learn more here:

brainly.com/question/15520316

4 0
2 years ago
What financial behaviors will typically lead to a low credit score?
Leviafan [203]
Here are some behaviors that will give you low credit score :

- If you always maxed out your credit card limits, it make you seems irresponsible 
- If you never paid your credit bills on time
- If you always change your living address 

but as long as you have a good history of paying your credit bills on time, your credit score will be fine

4 0
2 years ago
Read 2 more answers
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