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Leni [432]
3 years ago
7

Genent%E2%80%8B Industries, Inc.%E2%80%8B (GII), developed standard costs for direct material and direct labor. In%E2%80%8B 2017

, GII estimated the following standard costs for one of their major%E2%80%8B products, the 30minus gallon heavy minus duty plastic container. Budgeted quantity Budgeted price Direct materials 0.4 pounds $ 10 per pound Direct labor 0.1 hours $ 14 per hour During%E2%80%8B July, GII produced and sold 3 comma 000 containers using 1 comma 300 pounds of direct materials at an average cost per pound of $ 7 and 375 direct manufacturing labor hours at an average wage of $ 14.40 per hour. The direct material price variance during July is%E2%80%8B ________.
Business
1 answer:
Sliva [168]3 years ago
7 0

Answer:

Direct material price variance

= (Standard price - Actual price) x Actual quantity purchased

= ($10 - $7) x 1,300 pounds

= $3,900(F)

Explanation:

Direct material price variance is the difference between standard price and actual price multiplied by actual quantity purchased.

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Artis Sales has two store locations. Store A has fixed costs of $145,000 per month and a variable cost ratio of 60%. Store B has
guajiro [1.7K]

Answer:

A)$362,500.

Explanation:

3 0
3 years ago
A study of college graduates involves three variables: income level, job satisfaction, and one-way commute times to work. List s
pickupchik [31]

Answer:

One-way commute times may be long because affordable housing is distant from the job.

A working spouse could affect all three variables.

People might be very satisfied with their career as long as the income is high.

People may have a career following their passion, but have a low income or a long commute.

Explanation:

As we know that the study in college for graduation generally includes the three types of variables i.e. level of the income, job satisfaction and the one way commute

Now there are some ways that may be cofounded such as the one way commute could belong as if the house is far from the job, for the working spouse the above three variables could be impacted, when the income of the people are high they feel very satisfied and they follow their passion but they have the low income or long commute travelled at the same time

7 0
2 years ago
In January, 2021, Summit Department Store sells a gift card for $50 and receives cash. In February, 2021, the customer comes bac
PtichkaEL [24]

Answer:

Feb. 2021

  Dr Gift Card Liability         $20

     Cr Gift Card Revenue    $20

(to record revenue arisen from oustanding Gift Card Liability)

Explanation:

Under GAAP, the accounting for Gift Card is quite simple. When the gift card are sold, Gift Card Issuer receives Cash (Debit Cash) and assume the Liability (Cr Liability) to anyone owning the gift card for later providing of goods/services priced at the Cash amount that had been received.

It is not until Gift Card is redeemed that Gift Card Issuer is allowed to record revenue (Credit Revenue) as it is an actual point of time when the provide of goods/services takes place. Also at the same time, once the goods/services are provided, they Liability assumed earlier in time through Gift Card issuance will be discharged to the extent of the price of goods/services provided.

7 0
3 years ago
Pat shopped at Target for new summer shorts. After trying on three different brands and price comparing, he decided to buy the D
Vitek1552 [10]

Answer:

Shopping and convenience

Explanation:

Pat shopped at Target for new summer shorts. After trying on three different brands and price comparing, he decided to buy the Dockers shorts. While heading to the checkout stand, he spotted earphones hanging on the endcap of the electronics area. Remembering he needed new earbuds for his iPod, he grabbed a set and paid for it all at the checkout counter. What types of product categories did Pat experience in this shopping trip

Pat experience shopping and convenience product categories; the dockers shorts is the shopping product while the ear phone is the convenience product.

Shopping products are types of products categories in which a consumer takes his or her time to deliberate, research, compared on a product before they decided to buy the said product while convenience product is one that required no deliberation, the are usually routine products.

5 0
3 years ago
The contingency theory of leadership assumed that there are two kinds of leaders: ________ and ________ leaders. future-oriented
tresset_1 [31]
The contingency theory of leader assumed that there are two kinds of leaders: TASK ORIENTED AND RELATIONSHIP ORIENTED LEADERS. A task oriented leader is one who is most concerned about getting jobs done than with the feeling of and relationship among his team. A relationship oriented leader is one who is primarily concerned with the feelings of his team members and their relationships with one another.
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3 years ago
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