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dedylja [7]
3 years ago
8

Century Manufacturing developed the following per-unit standards for its product: 4 pounds of direct materials at $6.40 per poun

d. Last month, 3,000 pounds of direct materials were purchased for $18,240. The direct materials price variance for last month was
Business
1 answer:
Bond [772]3 years ago
4 0

Answer:

price variance   960.00 F

Explanation:

(standard\:cost-actual\:cost) \times actual \: quantity= DM \: price \: variance

std cost                 $6.40

actual cost         $6.08 (18,240 total cost/ 3,000 units purchased)

quantity           3,000

(6.40 - 6.08) \times 3,000 = DM \: price \: variance

difference         $0.32

3,00 x 0.32 = price variance

price variance   $960.00

The actual cost was below the standard. It cost less to purchase each pound. This variance is favorable

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Northwest Fur Co. started the year with $92,000 of merchandise inventory on hand. During the year, $425,000 in merchandise was p
Artyom0805 [142]

Answer:

$ 142,800.00  

Explanation:

The ending inventory can be computed by rearranging the cost of goods sold formula:

cost of goods sold=Beginning inventory+net purchases-ending inventory

ending inventory=beginning inventory+net purchases-cost of goods sold

beginning inventory is $92,000

Net purchases=purchases-discount+freight-in charges-purchase return

net purchases=$425,000-($425,000*1%)+$7000-($5000*99%)=$422,800.00  

cost of goods sold is $372,000

ending inventory=$92,000+$422,800-$372,000=$ 142,800.00  

8 0
3 years ago
Sage Company is operating at 90% of capacity and is currently purchasing a part used in its manufacturing operations for $16.00
lara [203]

Answer:

$164,210 decrease

Explanation:

Calculation to determine what would be the amount of differential cost increase or decrease from making the part rather than purchasing it

Differential cost increase or decrease=(32,842 * 16)- (32,842 * 11)=

Differential cost increase or decrease=$525,472-$361,262

Differential cost increase or decrease=$164,210 decrease

Therefore what would be the amount of differential cost increase or decrease from making the part rather than purchasing it is $164,210 decrease

6 0
3 years ago
The exercise value is also called the strike price, but this term is generally used when discussing convertibles rather than fin
ryzh [129]

Answer:

False

Explanation:

The strike price is used at the time of trading of the options, while on the other hand the option that could be exercised is when take place when there is a delivery of the stock. Basically it means that the stock that can be predicted value and it is set by the seller of the contract. Also it is to be termed as the convertible bonds, but it should be more used for the option trading

Therefore the given statement is false

3 0
3 years ago
Natasha, nelson, and nikolai are all looking to buy flashlights for a camping trip. natasha is willing to pay $4, nelson is will
d1i1m1o1n [39]

Consumer surplus is the difference between the total amount a consumer is willing to pay for an item and what they actually pay. The total amount that Natasha, Nelson and Nikolai are willing to pay for the flashlight is $34, the amount they do pay is $20. So, the total consumer surplus for them is $14.

4 0
3 years ago
On December 1, 2019, Ral received advance rental of $27,000 from a tenant for a three-year lease commencing January 1, 2020 to c
adelina 88 [10]

Answer:

Nil

Explanation:

On receipt of the amount, the entries to be posted would be;

Debit cash account   $27,000

Credit deferred revenue  $27,000

Being entries to recognize cash received in advance for rental income.

As such, no rental income was earned in 2019. Amount to be included in Ral's taxable income for rent revenue is nil.

8 0
3 years ago
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