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oee [108]
3 years ago
7

Marks Company makes one product, for which it has established the following standards for materials: Average quantity of materia

l per unit of product: 4.5 pounds Price per pound of materials, $16 During March, Marks made 10,000 units of the product, using 50,000 pounds at a total purchase price of $825,000. What is the materials price variance
Business
1 answer:
Anastasy [175]3 years ago
5 0

Answer:

Direct material price variance= $25,000 unfavorable

Explanation:

Giving the following information:

Standard price= $16

During March, Marks made 10,000 units of the product, using 50,000 pounds at a total purchase price of $825,000.

<u>To calculate the direct material price variance, we need to use the following formula:</u>

Direct material price variance= (standard price - actual price)*actual quantity

Actual price= 825,000/50,000= $16.5

Direct material price variance= (16 - 16.5)*50,000

Direct material price variance= $25,000 unfavorable

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Southern Industries uses job order costing. The following information was drawn from the Company’s monthly accounting reports: J
Vlad [161]

Answer:

The balance in the Work in Process inventory at the month end is $60

Explanation:

Work in Progress : It is a sum of direct material, direct labor and overhead expense. It shows how much percentage of work is left in the company. The work part left in the company is called work in progress.

For computing the Job 3 work in progress, the calculation part is shown below.

= Direct material + Direct labor + overhead expense

= $30 + $10 + 200% × 10

= $30 + $10 + $20

=$60

Hence, the balance in the Work in Process inventory at the month end is $60

8 0
3 years ago
Greyon spinning Mills Inc. owns 600 spinning machines out of these, only 500 are used in a given year. Given this information, t
andre [41]

Answer:

B.0.83

Explanation:

Data provided in the question

Total machines Available = 600

Number of machines used in a given year = 500

So by considering the above information, the utilization of spinning machines is

Utilization = Resource used ÷Resource available

                 = 500 ÷ 600

                 = 0.83

By dividing the resources used with the resources available we can get the utilization and the same is applied

6 0
3 years ago
The government wants to make Medicare benefits available to more people, but to achieve this goal, it needs to make cuts in the
ArbitrLikvidat [17]

Answer:

A. elective surgery due to its lower marginal utility per dollar of expenditure.

Explanation:

As there is non essential elective surgeries, as from government's point of view since it is non essential that is not required and not utilized by major citizens of the country, and since there is requirement of budget cut-down. The government shall remove elective surgery.

as the amount of expenditure involved in these surgeries is also high and the resulting utility for each surgery is really low, it shall be removed.

5 0
3 years ago
The statement of stockholders' equity includes these amounts:______
Mariana [72]

These sums are included in the period's ending balance, retained profits, dividends, and net income in the statement of stockholders' equity.

Stockholder equity, often known as shareholders' equity or owners' equity, is the amount of assets left over for shareholders to use after all liabilities have been settled. It is determined by subtracting a company's total assets from its total liabilities, or alternatively by adding its share capital and retained earnings and deducting its treasury shares. Among the possible components of shareholders' equity are common stock, paid-in capital, retained earnings, and treasury stock.

Stockholders' equity can conceptually be used to assess the amount of money a company has kept on hand. If this number is negative, a business may be on the verge of bankruptcy, especially if there is also a substantial debt obligation.

There are two main sources of Stockholder equity, which is also known as the company's book value. The money that was initially and subsequently invested in the business through share offerings is the first source. The company's retained profits (RE), which are accumulated over time as a result of its operations, make up the second source. Retained earnings typically make up the greatest portion, especially when dealing with businesses that have been around for a while.

Learn more about Stockholder equity here

brainly.com/question/13278063

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5 0
1 year ago
When a sales manager provides the salesperson with information on how and why the desired outcome is achieved, he or she is usin
hram777 [196]

Answer:

Cognitive feedback technique.

Explanation:

Cognitive feedback technique is used to train the person about how and why were given results attained. This is done in order to train the subordinate to easily handle any similar situations in the future. This is basically a guiding technique that is used to guide the subordinates by developing their cognitive ability to deal with the upcoming similar challenges.

5 0
3 years ago
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