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Ratling [72]
2 years ago
15

Ruby Company produces a chair for which the standard specifies 5 yards of material per unit. The standard price of one yard of m

aterial is $7.50. During the month, 8,400 chairs were manufactured, using 43,700 yards at a cost of $7.30 per yard. Determine the following: Enter favorable variances as negative numbers. a. Direct materials price variance $fill in the blank 1 b. Direct materials quantity variance $fill in the blank 3 c. Total direct materials cost variance
Business
1 answer:
Readme [11.4K]2 years ago
5 0

Answer:

Total  direct material variance = $260

Price variance = $8,740 Favourable

Usage variance = $9,000 Adverse

Explanation:

<em>Direct  material price variance</em>

43,700×(7.50-7.30) = $8,740 Favourable

<em>Direct material usage variance</em>

                                                                               Yards

8,400 chairs should have used (8,400× 5)       42,500

but dis use                                                          <u> 43,700</u>

                                                                             1,200 adverse

standard price                                                   × <u> $7.50</u>

Usage variance                                                 <u>  9.000 Adverse</u>

Total  direct material variance = Price variance + quantity variance

= 8,740F + 9,000A= $260 A

Total  direct material variance = $260 Adverse

Price variance = $8,740 Favourable

Usage variance = $9,000 Adverse

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Answer:

the fixed dollar-pound exchange rate is consistently below the equilibrium exchange rate that would be produced by a private foreign exchange market.

Explanation:

Fixing an exchange rate means that the government is trying to intervene in valuation of its currency. It is fixing it's currencie's rate to another and using reserves to handle fluctuations in market price.

When the fixed rate is below equillibrum there is surplus of the countrie's currency at the fixed rate. The government will buy this surplus (if not the value will fall) by selling their foreign currency reserves. This is done to maintain the fixed exchange rate.

Reduced reserves of pounds noticed by the Central bank is as a result of fixed price below equilibrium.

5 0
3 years ago
A senator from a state with several steel-rod factories explains that it is necessary to impose trade restrictions, such as a ta
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Answer:

Jobs argument

Explanation:

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According to this, the answer is that the senator is using the jobs argument to argue for the trade restriction on steel rods because he claims that it is necessary to impose those restrictions to protect the workers from losing their jobs.

8 0
3 years ago
Identify whether the market supply curve will shift right or left or will stay the same for the following: a. Firms in an indust
dybincka [34]

Answer:

1. In first example, supply curve moves to the left. Delivery curve moves to the left as supply is heading downward due to variables apart from rate change. In this scenario, the cost of output rises due to the current penalty, and vendors will be able to produce less at the same amount.

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3 years ago
The total market value of a municipality is $25,000,000 and the total assessed value of a municipality is $11,250,000. What is t
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Answer: The equalization rate for the municipality is 45%.

Explanation:

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