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dexar [7]
3 years ago
14

A company makes a product using two materials, one of which is interchangeable with a third material. The standards for producin

g one 200-pound batch are presented below. The last 200-pound batch was produced using 185 pounds of M and 210 pounds of O. The price of M was $0.03 per pound and the actual price of O was $0.10.
Material Standard Quantity (lbs) Standard Cost/lb. Total Cost
O 0 $0.10 $0
H 125 0.08 10.00
M 75 0.02
1.50 200 $11.50
Is the material mix variance favorable or unfavorable
Business
1 answer:
evablogger [386]3 years ago
4 0

Answer:

The material mix variance unfavorable.

Explanation:

This can be determined using the following 3 steps:

Step 1: Calculation of the total Standard Cost of Actual Mix of the 3 materials

Standard Cost of Actual Mix of material O = Units of material O used * Standard cost of material O = 210 * $0.10 = $21

Standard Cost of Actual Mix of material H = Units of material H used * Standard cost of material H = 0 * $0.08 = $0

Standard Cost of Actual Mix of material M = Units of material M used * Standard cost of material M = 185 * $0.02 = $3.79

Total Standard Cost of Actual Mix of the three materials = Standard Cost of Actual Mix of material O + Standard Cost of Actual Mix of material H + Standard Cost of Actual Mix of material M = $21 + $0 + $3.79 = $24.70

Step 2: Calculation of the total Standard Cost of Standard Mix of the 3 materials

Standard Cost of Standard Mix of material O = Standard Units of material O * Standard cost of material O = 0 * $0.10 =  $0

Standard Cost of Standard Mix of material H = Standard Units of material H * Standard cost of material H = 125 * $0.08 = $10

Standard Cost of Standard Mix of material M = Standard Units of material M * Standard cost of material M = 75 * $0.02 = $1.50

Standard Cost of Standard Mix of the three materials = Standard Cost of Standard Mix of material O + Standard Cost of Standard Mix of material H + Standard Cost of Standard Mix of material M = $0 + $10 + $1.50 = $11.50

Step 3: Calculation of material mix variance

Material mix variance = Total Standard Cost of Actual Mix of the three materials - Standard Cost of Standard Mix of the three materials = $24.70 - $11.50 = $13.20

Since the Total Standard Cost of Actual Mix of the three materials is greater than Standard Cost of Standard Mix of the three materials (i.e. by $13.20), this implies that the material mix variance unfavorable.

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Answer:

I used an Excel spreadsheet to calculate R² which gives us the least squares trend. See attached image.

y = 360x + 1600

R² = 0,9529

next year's enrollment should be = (360 x 5) + 1600 = 3400

5 0
2 years ago
A certain project has a project cost of $387,000 and the annual inflows resulting from the product created is $64,000. What is t
Komok [63]

Answer:

Payback period is 6.5625 years

Explanation:

All amounts are in $

Item                outflow              inflow       balance

Year 0            387,000               0            (387,000)

Year 1                  0                  64,000      (323,000)  

Year 2                 0                  64,000      (259,000)  

Year 3                 0                  64,000      (195,000)  

Year 4                 0                  64,000      (131,000)  

Year 5                 0                  64,000      (67,000)  

Year 6                 0                  64,000      (3,000)

The remaining $3000 will flow in

= (3000/64000) × 12

= 0.5625

Payback period is 6.5625 years

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3 years ago
State licensing helps ensure that professionals
Bingel [31]

Answer:

are qualified in there industry

Explanation:

that's what my quiz said was right

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Calculate Payroll An employee earns $44 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume th
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Answer: $1750

Explanation:

Given Data

Earnings = $44/ hr

Overtime Earnings = 1.5 times Of $44

= $66

Hours worked during the week = 55 hrs

Social security tax rate = 6.0%

Medicare tax rate = 1.5%

Federal income tax = $633

Therefore:

Gross pay = Normal pay + overtime pay

Normal pay

= $44 * 40 hrs

= $1760

Overtime pay

= $66 * 15 hrs

= $990

Gross pay = $1760 + $990

= $1750

Social security tax

= 0.06 * $2750

= $165

Medicare tax

= 0.015 * $2750

= $41.25

Total tax

= $633 + $41.25 + $165

= $839.25

Net pay

= $2750 - $839.25

= $1910.75

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A contract with a mistake that results from failure to understand the contract’s meaning or significance or from failure to read
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