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djverab [1.8K]
2 years ago
12

Myers Corporation has the following data related to direct materials costs for November: actual costs for 5,000 pounds of materi

al at $4.50 and standard costs for 4,800 pounds of material at $5.10 per pound. What is the direct materials quantity variance? a. $1,020 favorable b. $900 favorable c. $1,020 unfavorable d. $900 unfavorable
Business
2 answers:
Fed [463]2 years ago
8 0

Answer:

c. $1,020 unfavorable

Explanation:

Direct materials quantity variance = SP x (SQ – AQ)

Where

SQ = Standard quantity

SP = Standard price

AQ = Actual quantity

AP = Actual price

Direct materials quantity variance =$5.10(4800 - 5000)

                                                        = $5.10 × -200

                                                        = $1,020 unfavorable

The right option is c. $1,020 unfavorable

Anastasy [175]2 years ago
3 0

Answer:

A. $1,020 unfavorable.

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Harris Company uses the allowance method of handling its credit losses. It estimates credit losses at one percent of credit sale
likoan [24]

Answer:

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December 31    Balance Sheet Accounts Receivable             392400

Explanation:

Harris Company

Credit Sales for the current year $2700,000

Credit Losses = 1% of $ 2700,000= $ 27000

Add Allowance for Doubtful Accounts $ 30600 Cr

Required Adjustments          $ 57,600 Cr

General Journal

Date                     Description            Debit                Credit

Dec.31           Bad Debts Expense    27000

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December 31 Balance Sheet.

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Less: Allowance for Doubtful Accounts $57,600 ( 27000+ 30,600)

                      Accounts Receivable             392400

6 0
3 years ago
I need to solve this question with a formal
asambeis [7]

Answer:

yes

Explanation:

he's been said to do with this was also like

3 0
3 years ago
Which label(s) would mark the produce that you are least likely to purchase even if it was very affordable?A.no label B.100% org
Burka [1]

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7 0
3 years ago
Cheizza, a pizza vendor in the country of Wisbane, believes that the taste of fresh cheese in its pizzas is its unique selling p
damaskus [11]

Answer:

The correct answer is letter "A": Resource scarcity.

Explanation:

Resource scarcity is the basic economic problem by which individuals have unlimited wants and needs but rely on limited sources to fulfill them. Because of this situation, individuals have to trade-off the satisfaction of part of some needs so others can be satisfied as well.

In the example, <em>the scarce resource is the milk that is useful to produce cheese for the pizzas sold in Wisbane.</em>

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Which of the following statements is CORRECT? Assume a company's target capital structure is 50% debt and 50% common equity.a. T
Bond [772]

The correct statement among the given is 'cost of equity is always equal to or greater than the cost of debt' .

Option-c

<u>Explanation: </u>

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