Answer:
$2,000 and it is favourable
Explanation:
Direct material quantity variance is defined as the efficiency with which materials are converted into products. It is calculated by multiplying standard price of material by the difference between standard quantity and actual quantity used.
Standard price (SP)= $2.50
Standard quantity (SQ)= 30,000 units
Actual quantity (AQ)= 29,200 units
Material quantity variance = SP * (SQ - AQ)
Material quantity variance= 2.50 * (30,000 - 29,200)
Material quantity variance= $2,000
Answer:
Question 1
a) yes
b) 5,900 direct labor x .67 rate = 3,953 dollars
Question 2
Work in process: <em>13,053</em>
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Explanation:
Taking job V as a template we can solve for the predeterminate overhead rate:
9,600 direct labor
generates 6,432 overhead:
6,432/9,600 = 0.67
eahc dollar is charged with $0.67 overhead
Total cost accumulated for Job W:
3,200 raw materials
5,900 direct labor
<u> 3,953 </u>overhead
<em>13,053 </em>total cost. As it is not compelte It will be considered work in process.
Answer:
Organic and Fresh
Explanation:
Competitive advantage is the advantage that a company has over its competitors. This restaurant is offering farm fresh and organic food. It means its without any sort of chemicals. Its freshness and being organic is their competitive advantage.
Answer:
Inventory TO 9
Gross profit percentage: 55%
Explanation:
Inventory Turnover
where:
COGS 17,100
beginning: 1,800
ending: 2,000
Average Inventory: 1900
Inventory TO 9
Gross profit percentage:
Gross profit percentage: 0.55 = 55%