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zhenek [66]
3 years ago
7

Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.7 ounces of aluminum per can.

During the month of April, 450,000 cans were produced using 1,875,000 ounces of aluminum. The actual cost of aluminum was $0.10 per ounce and the standard price was $0.08 per ounce. There are no beginning or ending inventories of aluminum.
Required:Calculate the total variance for aluminum for the month of April. Enter amount as a positive number and select Favorable or Unfavorable.
Business
1 answer:
Tems11 [23]3 years ago
7 0

Answer:

-$18,300(Unfavorable)

Explanation:

Material price per variance:

= Ounces of aluminium used in production(Standard price - Actual cost per ounce)

=  1,875,000 ($0.08 - $0.10)

= 1,875,000 × (-$0.02)

= -$37,500 (Unfavorable)

Material usage variance:

=  [(Cans produced × Standard unit quantity) -  Ounces of aluminium used in production] × Standard price

= [(4,50,000 × 4.7) -  1,875,000] × 0.08

= $19,200 (Favorable)

Therefore,

Total variance = Material price per variance + Material usage variance

                        = -$37,500 + $19,200

                        = -$18,300(Unfavorable)

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During interview, a candidate is able to talk extensively about himself and achievements. By this, he is able to clarify a lot of things about himself

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1 year ago
Making formal statements, holding rites and rituals, utilizing employee training and coaching, demonstrating how a leader reacts
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Answer:

Effect Corporate Change

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8 0
3 years ago
Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. Durin
hjlf

Answer:

Global Marine

a. Indication of the accounts and amounts for each transaction:

a. Cash $5,500,000 Common stock $500,000 Additional Paid-in Capital $5,000,000

b. Treasury stock $125,000 Additional Paid-in Capital $1,125,000 Cash $1,250,000

c. Cash $510,000 Treasury stock $50,000 Additional Paid-in Capital $460,000

d. Cash $490,000 Treasury stock $50,000 Additional Paid-in Capital $440,000

b. Journal Entries:

a. Debit Cash $5,500,000

Credit Common stock $500,000

Credit Additional Paid-in Capital $5,000,000

To record the issuance of 100,000 shares of the common stock at $55 cash per share.

b. Debit Treasury stock $125,000

Debit Additional Paid-in Capital $1,125,000

Credit Cash $1,250,000

To record the repurchase of 25,000 shares at $50 cash per share.

c. Debit Cash $510,000

Credit Treasury stock $50,000

Credit Additional Paid-in Capital $460,000

To record the re-issuance of 10,000 shares from treasury for $51 per share.

d. Debit Cash $490,000

Credit Treasury stock $50,000

Credit Additional Paid-in Capital $440,000

To record the re-issuance of 10,000 shares from treasury for $49 per share.

Explanation:

a) Data and Calculations:

Authorized common stock shares, 1,000,000 at $5 par value

Net income earned during the year = $400,000

Selected transactions:

a. Cash $5,500,000 Common stock $500,000 Additional Paid-in Capital $5,000,000

100,000 shares of the common stock at $55 cash per share.

b. Treasury stock $125,000 Additional Paid-in Capital $1,125,000 Cash $1,250,000

25,000 shares at $50 cash per share.

c. Cash $510,000 Treasury stock $50,000 Additional Paid-in Capital $460,000

10,000 shares from treasury for $51 per share.

d. Cash $490,000 Treasury stock $50,000 Additional Paid-in Capital $440,000

10,000 shares from treasury for $49 per share.

8 0
3 years ago
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Zigmanuir [339]

Answer:

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Explanation:

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Portfolio B

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