Answer:
$6,000 Unfavorable
Explanation:
Actual Quantity = 243,000 lbs
Standard Quantity:
= Actual finished units produced × Direct materials standard quantity per unit
= 40,000 units × 6 lbs
= 240,000 lbs
Standard Price = $2 per lb.
Hence,
Direct materials quantity variance:
= (Actual Quantity - Standard Quantity) × Standard Price
= (243,000 - 240,000) × $2
= $6,000 Unfavorable
Rather than relying on inspections to ensure quality, problems should be <u>designed</u> out of a product or process.
Identification of a market opportunity, precise problem definition, creation of a suitable solution, and user validation of that solution are all steps in the process of product design.
A strategy for problem-solving in practice is design thinking. Design thinking has gained popularity as a method of producing goods since it was first popularized by IDEO's David Kelley and Tim Brown.This strategy combines the principles and practices of human-centered design into one overarching philosophy.
Because design thinking is concerned with the entire product development process and not just the "design phase," good designers have always applied it to the creation of products, whether they are physical or digital.
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Answer:
80%
Explanation:
The computation of markup percentage on product cost is shown below:-
Markup percentage on product cost = ((Selling and administrative expenses + Desired profit) ÷ Product cost) × 100
= (($70 + $58) ÷ $160) × 100
= 0.8
or
= 80%
Therefore for computing the markup percentage on product cost we simply applied the above formula.
Answer:
63.54% (Approx)
Explanation:
The computation of the budgeted percentage contribution margin ratio is shown below:-
For computing the contribution margin ratio firstly we need to calculate the contribution margin in dollars
Contribution margin = Sales - Variable cost
= ($480,000 - $175,000)
= $305,000
Contribution margin ratio = Contribution margin ÷ Sales
= ($305,000 ÷ $480,000)
= 63.54% (Approx)
Answer:
the overhead amount recorded is $139,500
Explanation:
The computation of the overhead amount recorded is shown below:
= Overhead application rate × direct material cost
= 155% × $90,000
= $139,500
Hence, the overhead amount recorded is $139,500
We simply applied the above formula so that the correct value could come
