1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
IRISSAK [1]
3 years ago
15

A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @ $9 per lb.) 60,000 lbs

. @ $9.20 per lb. Direct labor (3 hrs. @ $17 per hr.) 25,100 hrs. @ $17.60 per hour. Overhead (3 hrs. @ $11 per hour.) $ 286,800 Units manufactured 8,500 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable.
Business
1 answer:
PilotLPTM [1.2K]3 years ago
5 0

Answer:

price variance       12,000 U

quantity variance  4,500 U

Explanation:

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

std cost  $9.00

actual cost  $9.20

quantity 60,000

These are givens so no calculation needed.

(9-9.20) \times 60,000= DM \: price \: variance

difference  $(0.20)

price variance  $(12,000.00)

The difference is negative, we purchase at a higher price, so the variance is unfavorable

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

std quantity        59500.00 (7 lbs per unit x 8,500 untis manufactured)

actual quantity 60000.00

std cost                         $9.00

(59,500-60,000) \times 9 = DM \: quantity \: variance

difference                       -500.00

efficiency variance  $(4,500.00)

The difference betwene standard lbs and the actual lbs used into production is negative, we use more lbs than standard. This variance is also unfavorable.

You might be interested in
The technique by which performers create music on the spot is known as:
lora16 [44]
It is known as improvisation.
5 0
3 years ago
A job analysis method by which important job tasks are identified for job success is known as: functional job analysis the criti
kramer
A job analysis method by which important job tasks are identified for job success is known as

functional job analysis
4 0
3 years ago
Which of the following constitutes constructive receipt in the current year ended December​ 31?a. A salary check received at​ 6:
zubka84 [21]

Answer:

a. A salary check received at​ 6:00 p.m. on December​ 31, after all the banks have closed.

b. A rent check received on December 30 by the manager of an apartment complex. The manager normally collects the rent for the owner. The owner was out of town.

Explanation:

The principle of constructive receipt is determined by when the person who receives the income had control over it. An individual or company is considered to have control over income when it is credited to that person or company. Basically, it's when you could spend that income if you wanted, even if you don't spend it.

From the principle of constructive receipt in the above paragraph, only option a (A salary check received at​ 6:00 p.m. on December​ 31, after all the banks have closed.) and b ( A rent check received on December 30 by the manager of an apartment complex. The manager normally collects the rent for the owner. The owner was out of town.) fall within the category. The other three options, the person is unable to spend the check even if they wanted to, until after December 31.

6 0
3 years ago
The landlord of an office building charges tenants $150 per hour for extra HVAC usage after hours. During the last three years,
lidiya [134]

Answer:

$78,375

Explanation:

Actual HVAC usage = 500 + (500 × 10%) = 500 + 50 = 550

Total HVAC income before credit loss = 550 × $150 = $82,500

Total HVAC income before credit loss =  $82,500 - ($82,500 × 5%) = $82,500 - $4,125 = $78,375

Therefore, the approximate heating, ventilation, and air conditioning (HVAC) revenue the landlord will realize is $78,375.

8 0
3 years ago
_______Treasury Stock is reported on the balance sheet
Debora [2.8K]

Answer:

c. as a deduction from Stockholders’ Equity

Explanation:

The treatment of the treasury stock in the balance sheet is that it is deducted from the stockholder equity as it shows the buy back position of the common stock

The other things i.e retained earnings, additional paid in capital is to be added as it increased the balance of the stockholder equity

Therefore in the given case, the option C is correct

5 0
2 years ago
Other questions:
  • Bowers looked to the American Political Dictionary to define ‘civil rights’, which are those "positive acts of government design
    6·1 answer
  • Yvette is a customer of Apexon Bank, which is a member of the FDIC. She currently has a checking account that has $17,371 and a
    7·1 answer
  • Friendly’s Quick Loans, Inc., offers you "eight for ten or I knock on your door." This means you get $8 today and repay $10 when
    13·1 answer
  • Sadik Inc.'s bonds currently sell for $1,180 and have a par value of $1,000. They pay a $105 annual coupon and have a 15-year ma
    11·1 answer
  • Which feature of a customs union differentiates it from a free trade area?
    5·1 answer
  • This term refers to the percentage of the civilian workforce who are available for a job but do not have one.
    12·1 answer
  • Han Products manufactures 22,000 units of part S-6 each year for use on its production line. At this level of activity, the cost
    14·1 answer
  • A census helps the CPI in what way?
    6·1 answer
  • Administrative:
    13·1 answer
  • Martin, a u.s. citizen, travels to mexico and buys a newly manufactured motorcycle made there. his purchase is included in?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!