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DerKrebs [107]
3 years ago
12

A company developed the following per-unit standards for its product: 2 pounds of direct materials at $4 per pound. Last month,

1,500 pounds of direct materials were purchased for $5,700. The direct materials price variance for last month was:
Business
1 answer:
olga nikolaevna [1]3 years ago
7 0

Answer:

Direct Material Price Variance = $300 Favorable

Explanation:

Direct Material Price Variance = (Standard Price - Actual Price) \times Actual Quantity

Standard Price = $4 per pound

Actual Price = \frac{Actual\ Cost}{Actual\ Units} = \frac{5,700}{1,500} = 3.8

Since the actual price is less than the standard price the variance will be favorable as the amount paid for actual use is less then the estimated standard cost.

Thus, direct material price variance = ($4 - $3.8) \times 1,500

= $300 Favorable

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Explain how you will use each of the five P's of the marketing mix to achieve
bulgar [2K]

Answer & Explanation:

To determine the brand image goal, it is essential to identify the targeted market, segments first - who the brand serves and then conduct the market research to understand the demand, the tastes and preferences of the targeted customers.

Based on these information, we can use marketing mix to achieve the goal.

Product

If the brand has already chosen the sector to operate it, it should base on the market taste and demand to determine things related to the product, including: the functions, packaging, appearance, added value for customers, quality, and other supported services (such as warranty). These are information that customers usually consider when they make a purchasing decision. So that the brand should clarify the information about features of products, add benefits that the users can earn from the products.

Price

When determining the pricing strategy, the brand does not only consider the product price but also discounts policy, credit terms, etc. These would base on the position of the brand in the marketplace (in low price, premium or low-medium, etc. and providing high, low or medium quality products, etc.). This bases on the products the brand offers after considering the consumption habit, power of the targeted segments.

Place

Brand has to identify where the products are seen, distributed and purchased so as to approach the largest amount of potential customers. In the place strategy, the prioritized goal is to assure the products are accessible to the targeted customers. (For example, the brand can provide their products at convenient stores if this is the more preferred shopping places of targeted customers.)

Promotion

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3 0
3 years ago
What are some strategies that you can use when agreeing to a contract to protect yourself?
PolarNik [594]
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5 0
3 years ago
Orange Corporation manufactures custom-made wallets. The following data pertains to Job GH7: Direct materials placed into produc
Nataly [62]

Answer: Overhead cost assigned to Job GH7 is $300.

Explanation:

Given that,

Direct materials placed into production = $5000

Direct labor hours worked = 75 hours

Direct labor rate per hour = $35

Machine hours worked  = 200 hours

Factory overhead was budgeted = 100000

direct labor hours were estimated = 25000

Job GH7 consists = 60 units

Predetermined rate = \frac{Factory\ Overhead\ Budgeted}{Direct\ Labor\ hours\ estimated}

= \frac{100000}{25000}

=$4

Hence,

overhead cost assigned to Job GH7 = Direct labor hours worked × Predetermined rate

= 75 ×  4

=$300

7 0
3 years ago
The term "additional funds needed (AFN)" is generally defined as follows:
Ganezh [65]

Answer: Option D

                   

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Thus, these funds are procured from external sources like issuing debt securities or by offering additional equity etc.

6 0
4 years ago
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