Answer:
Direct material price variance= $5,580 unfavorable
Explanation:
Giving the following information:
The standard price of $6.50 per gram.
During the month the company purchased 27,900 grams of the direct material at $6.70 per gram.
<u>To calculate the direct material price variance, we need to use the following formula:</u>
<u></u>
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (6.5 - 6.7)*27,900
Direct material price variance= $5,580 unfavorable
Answer:
to obtain 10,000 hours of light you would need:
option 1)
10 incandescent light bulbs costing $0.50 each = $5
this incandescent light bulbs will consume 60 x 10,000 = 60,000 watts or 60 kWh = 60 x $0.10 = $6 in electricity
total costs using incandescent light bulbs = $5 + $6 = $11
option 2)
1 fluorescent light bulb = $4
this fluorescent light bulb will consume 15 x 10,000 = 15,000 watts or 15 kWh = 15 x $0.10 = $1.50
total costs using fluorescent light bulbs = $4 + $1.50 = $5.50
Answer:
Related to the transferred equipment, the items that is true regarding the preparation of the consolidated financial statements for the year ending December 31, 2013 is:
C. The consolidation entries will include a $26,000 debit to "Gain on Sale of Equipment."
Explanation:
a) Data and Calculations:
Original cost of the equipment to the parent = $180,000
Transfer of equipment to subsidiary = (118,000)
Accumulated depreciation to December 31, (36,000)
Unaccounted balance = 26,000
b) The unaccounted balance of $26,000 needs to be credited to the parent's Equipment account to remove it from the account. This will have a corresponding debit entry in another account. The only correct entry among the options is C.