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vladimir2022 [97]
3 years ago
7

Direct Materials Variances Bellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price

is $3.75 per pound. If 15,000 units used 36,000 pounds, which were purchased at $4.00 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Business
1 answer:
Alex787 [66]3 years ago
8 0

Answer:

Materials Price Variance = (SP-AP) *AQ

= (3.75 - 4.00) * 36,000

= 9,000 Unfavorable

Materials Quantity Variance = (SQ-AQ) * SR

= (15,000 * 2.5) - 36,000) * 3.75

= 5625 Favourable

Materials cost variance = 9,000 U + 5625 F

Materials cost variance = 3375 U

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Consider the following price indexes: 95 in 2011, 100 in 2012, 129 in 2913, 131 in 2014, and 160 in 2015. If the cost of the mar
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If the cost of a market basket of goods and services is $3,500 in 2012, the cost of the same market basket in 2015 is $5,600.

<h3>What is the market basket?</h3>

According to common definitions, a market basket is a selected mix of goods and services.

The market basket is commonly used to track the price performance of a specific market or segment, especially with regard to inflation.

An example of a market basket is the Consumer Price Index (CPI).  The CPI is an estimate of the average change of price paid for a specific basket of goods and services over time.

<h3>Data and Calculations:</h3>

Date  Price Index

2011         95

2012      100

2013      129

2014       131

2015      160

Cost of market basket in 2012 = $3,500

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Thus, if the cost of a market basket of goods and services is $3,500 in 2012, the cost of the same market basket in 2015 is $5,600.

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WP Corporation produces products X, Y, and Z from a single raw material input in a joint production process. Budgeted data for t
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yes yes NO ( A  )

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