1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sergeinik [125]
3 years ago
14

Tip Top Corp. produces a product that requires 14 standard gallons per unit. The standard price is $6.00 per gallon. If 3,500 un

its required 51,000 gallons, which were purchased at $5.70 per gallon, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Use the minus sign to enter favorable variances as negative numbers.
Business
1 answer:
wlad13 [49]3 years ago
8 0

Answer:

Variance is favorable when Standard quantity/ price is higher than actual quantity/ price.

a. Direct Materials Price Variance

= (Actual price - Standard price) * Actual quantity

= (5.70 - 6.00) * 51,000

= $15,300 Favorable

b. Direct Materials Quantity Variance

=  (Actual quantity - Standard quantity) * Standard price

= (51,000 - (14 * 3,500)) * 6

= $12,000 Unfavorable

C.  Direct Materials Cost Variance

= Direct Materials Price Variance + Direct Materials Quantity Variance

= 15,300 + (-12,000)

= $3,300 Favorable

You might be interested in
If the ratio of currency to deposits (cr) increases, while the ratio of reserves to deposits (rr) is constant and the monetary b
blagie [28]

Answer:

C. the money supply decreases.

8 0
3 years ago
Employee is related to
Pie
Staff, worker, hired help
3 0
3 years ago
What is a duty paid on a particular class of goods?
mina [271]
Speed post cuier service
parcel package system goods service class
5 0
3 years ago
Brady industries has average variable costs of $1 and average total costs of $3 when it produces 500 units of output. the firm's
Karolina [17]

C. $1,000

$1 and average total costs of $3 when it produces 500 units of output. the firm's total fixed costs equal 1,000 dollars.

8 0
3 years ago
In his search for a franchised business that would satisfy his passion for the outdoors and earn him a decent living, Andrew not
maxonik [38]

Answer:

royalties

Explanation:

According to my research on franchised businesses, I can say that based on the information provided within the question in business this obligation is referred to as royalties. These is an obligation in which the franchisee agrees to pay the franchiser a set percentage of the profits made under the licensed company. Like seen in the question the royalty percentages depend on the company as well as what is agreed upon when signing the licensing agreement.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

6 0
3 years ago
Other questions:
  • Could I Industries just paid a dividend of $1.62 per share. The dividends are expected to grow at a rate of 20 percent for the n
    8·1 answer
  • The impact lag facing the Fed is
    12·1 answer
  • Consider a firm with an annual net income of $20 million, revenue of $60 million and cost of goods sold of $25 million. If the b
    9·2 answers
  • Consider a monopolist currently selling output Q to two different markets: Market A and Market B. This monopolist is able to pri
    6·1 answer
  • A call provision in a bond...A. Limits the actions of the borrower.B. Protects the borrower from unscrupulous practices by the l
    13·1 answer
  • Risk acceptance defines the quantity and nature of risk that organizations are willing to accept as they evaluate the trade-offs
    14·1 answer
  • Which of the following statements accurately explains why profits for firms in a perfectly competitive industry tend to vanish i
    11·1 answer
  • A shift which is designed to cause team b to encroach is a false start.
    5·2 answers
  • Describe how McDonald's goods and services were in high demand by incorporating the ideas of needs and wants .
    14·2 answers
  • using a perpetual inventory system, what is recorded when a customer returns a product and gets the cash back and the product is
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!