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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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The balance sheet below reflects Zee Bank after its purchase of $50 million in government securities from the Fed. Assume a requ
UkoKoshka [18]

Answer:

$500 million

Explanation:

The solution of the money supply and its effect is here below:-

Decrease in money supply = $50 million ÷ reserve ratio

= $50 million ÷ 10%

= $500 million

If $50 million were used to repay loans, that will have raised money supply. Thus, buying $50 million in government securities from the fed reduces the supply of capital.

3 0
3 years ago
One type of mutual fund does not endeavor to achieve the goals of a balance of bonds and stock or​ growth, income, and stability
jonny [76]

The correct answer is the Life Cycle Fund.

The Life Cycle Fund is a mutual fund that is automatically adjusted during the life of the fund. The fund managers work to balance the investments in the fund to match an investor's age and risk tolerance as the investor gets closer to retirement.

3 0
3 years ago
Which of the following is least likely to result in product innovations that have near-term commercial application? Multiple Cho
kaheart [24]
<h2>Basic research is the least likely to result in product innovation that have near-term commercial application</h2>

Explanation:

Basic research, is otherwise called pure research. This is the first step in production innovation. This is followed by "applied research", then "innovation development", then to go for "production-sales-market".

The information gathered here will be very light or a starter. It is not possible to foresee all the outcomes or the benefits which is achieved in the basic research.

We cannot even predict the types of research knowledge which might add a value to the future changes

6 0
3 years ago
What are sales transactions posted to the accounts receivable subsidiary ledger? Why?
Eduardwww [97]

Answer: Transactions and Payment History.

Explanation:

The general ledger records the transactions and payment history of each customer to whom the business provides credit. The balance in each client account is periodically adjusted to the stability of accounts receivable in the general ledger, to ensure accuracy. It also provides details of these sales, showing dates and account numbers, credit, payments made against credit sales, discounts and refunds and fees.

8 0
3 years ago
Performance Obligation Fulfilled Over Time Philbrick Company signed a three-year contract to develop custom sales training mater
MAXImum [283]

Answer:

Philbrick Company

Performance Obligation Fulfilled Over Time

Computation of the revenue, expense, and gross profit:

Year    Number of     Development     Sales            Gross

          Employees    /Training Cost     Value            Profit

2019          150            $ 55,000           $165,000      $110,000

2020       250               70,000             275,000      205,000

2021         100               20,000               110,000        90,000

Total       500          $145,000          $550,000   $405,000

Explanation:

a) Data and Calculations:

Contract price = $1,100 per employee

No. of employees to be trained = 500

Total contract value = $550,000 ($1,100 * 500)

Expected Development and Training Costs:

Year    Number of     Development

          Employees    /Training Cost

2019          150                $ 55,000

2020       250                    70,000

2021         100                    20,000

Total       500               $145,000

6 0
3 years ago
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