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Airida [17]
3 years ago
13

TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaste

r has established the following standards for the prime costs of one unit of product. Standard Standard Standard Quantity Price Cost Direct Materials 7 pounds $ 1.60 per pound $ 11.20 Direct Labor .30 hour $ 10.00 per hour 3.00 $ 14.20 During November, TaskMaster purchased 154,000 pounds of direct materials at a total cost of $277,200. The total factory wages for November were $52,000, 80% of which were for direct labor. TaskMaster manufactured 21,000 units of product during November using 132,000 pounds of direct materials and 5,000 direct labor hours. What is the direct materials efficiency (quantity) variance for November?
Business
1 answer:
vazorg [7]3 years ago
6 0

Answer:

efficiency variance       $24,000.00 FAVORABLE

Explanation:

(standard \: Q-actual \: Q) \times standard \: cost = DM \: efficiency \: variance

std quantity                  147,000.00  (7 pounds per unit x 21,000 units)

actual quantity             132000.00

std cost                                  $1.60

difference                       15,000.00

efficiency variance       $24,000.00

The diference is positive so the variance is favorable.

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Supply chain management refers to A. how the firm compensates the employees who work on the​ firm's internal stages of productio
scoundrel [369]

Answer:

B. the decisions around which stages of production to handle internally and which to buy from others.

Explanation:

Supply chain management is fundamentally concerning with the management of a firm's reception of inputs in order to produce output, and with a firm's delivery of those outputs to the final customer.

For example, some firms can have the capability to supply their own raw materials internally, transform them into a finished product, and send the products to the customer.

Other firms have more complicated supply chains: they may buy the raw materials, produce a part of the good in a place, another part in another place, and hire another company to make the deliveries.

3 0
3 years ago
A perfect price discriminating monopoly produces _____.
attashe74 [19]

Answer:

the same quantity of output as a perfectly competitive market. If anything is wrong let me know since I'm new to answering questions

Explanation:

8 0
2 years ago
Santana Industries purchased a supply of electronic components from ABC Corporation on October 1, 2020. In payment for the $5 mi
pshichka [43]

Answer: they will report an interest expense of $150000 in December 2020

Explanation:

firstly we calculate how much interest will be accumulated for the whole year so we are given a $5 million Dollar purchase which is the amount that will accumulate interest over time, then we have been told the company ha issued a 1 year installment note therefore we have a time frame.

so now we will calculate the yearly interest of $5 million :

$5 000000x12% = $600000 so the company will accumulate this interest yearly then we divide this amount by 12 to get the monthly interest.

$600000/12 = $ 50000 per month interest thereafter we will multiply the monthly interest of $50000 by 3 months which is months from October to December.

therefore the interest expense to be reported on the December 2020 income statement is $50000 x 3= $150000

6 0
3 years ago
Garcia Co. issued bonds with detachable common stock warrants. Only the warrants had a known market value. Cash proceeds exceed
777dan777 [17]

Answer:

Discount on bond payable

Explanation:

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5 0
3 years ago
" Suppose there are only two firms in an economy: Cowhide, Inc. produces leather and sells it to Couches, Inc., which produces a
Lunna [17]

Answer:

The answer is $52,000.

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Therefore, the leather that was bought to produce couches in 2006 will not be included in GDP, because its value is included in the value of couches.

Couches, Inc. produced 16 couches and sold them for $3,000 each, computing that, we have:

16 x $3,000

= $48,000.

However, inventory that Cowhide, Inc. has that is worth $4,000 was produced in 2006 as well, so it is included in the GDP. This item will be included in the GDP because it has not yet been bought to used in manufacturing another item. So the answer is $52,000.

8 0
3 years ago
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