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spin [16.1K]
3 years ago
13

During March, Patt, Inc. purchases and uses 8,800 pounds of materials costing $35,640 to make 4,000 tiles. Patt's standard mater

ial cost per tile is $8 (2 pounds of material × $4.00).
Business
1 answer:
omeli [17]3 years ago
4 0

Answer and Explanation:

The computation is shown below:

Total material cost variance

= (Standard quantity × standard price) - (actual quantity × actual price)

= (4,000 tiles × 2 pounds of material × $4) - (8,800 pounds × $35,640 ÷ 8,800 pounds)

= (8,000 pounds × $4) - ($8,800 pounds × $4.05)

= $3,640 unfavorable

For material price variance

= Actual Quantity × (Standard Price - Actual Price)

= 8,800 × ($4 - $4.05)

= $440 unfavorable

For material quantity variance

= Standard Price × (Standard Quantity - Actual Quantity)

= $4 × (8,000 pounds - 8,800 pounds)

= $3,200 unfavorable

The favorable variance is that in which the standard cost is more than the actual cost and the inverse goes to unfavorable variance

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Suppose that a worker in Caninia can produce either 2 blankets or 8 meals per day, and a worker in Felinia can produce either 5
emmasim [6.3K]

Answer:

15 blankets; 35 meals

Explanation:

First, we compute Opportunity Cost (OC).

In Caninia,

OC of blanket = 8/2 = 4 meals

OC of meals = 2/8 = 0.25 blanket

In Felinia,

OC of blanket = 1/5 = 0.2 meals

OC of meals = 5/1 = 5 blanket

Since Felinia can produce blankets at lower OC (0.2 < 4), so

Felinia has comparative advantage and specializing in blankets.

Total blankets produced with trade = 5 x 10

                                                           = 50

Since Caninia can produce meals at lower OC (0.25 < 5), so

Caninia has comparative advantage and specializing in meals.

Total meals produced with trade = 8 x 10

                                                       = 80

After trade,

Total blankets produced = 10 + 25

                                         = 35

Decrease in blanket output = 50 - 35

                                              = 15

Total meals produced = 40 + 5

                                     = 45

Decrease in meals output = 80 - 45

                                            = 35

5 0
2 years ago
Suppose you deposit $116 today, $135 in one year, and $885 in two years in an account that pays an annual rate of interest of 14
olga nikolaevna [1]

Answer:

The answer is $1357.85

Explanation:

Future value= Σ C(1+i)^n

FV = 116(1.141^3) + 135( 1.141^2) + 885(1.141) = $1357.85

7 0
2 years ago
Logan and Johnathan exchange land, and the exchange qualifies as like kind under § 1031. Because Logan's land (adjusted basis of
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Answer:

a. Logan's recognized gain is $38,600

b. Logan's recognized gain is $23,160

Explanation:

a. If the worth of the land for Jonathan is $183,350, then the gain recognized by Logan would be;

the lower of the realized gain between the amount realized of $231,600 - adjusted basis of $193,000 = $38,600

or the fair market worth of the received boot i.e $48,250.

Therefore, Logan's recognized gain is $38,600

b. Suppose Jonathan's land is worth, $208,440, then we can calculate Logan's recognized gain to be ;

the lower of the realized gain I.e amount realized of $231,600 - adjusted basis $193,00 = $38,600

or the fair market value of the received boot I.e $23,160 .

Therefore, Logan's recognized gain is $23,160

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2 years ago
When a person is unable to make a decision because they have no way to process and weigh the risks and rewards in front of them,
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