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
Rudiy27
3 years ago
13

Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct

materials (8 pounds at $1.80 per pound) $14.40 Direct labor (6 hours at $14.00 per hour) $84.00 During the month of April, the company manufactures 230 units and incurs the following actual costs. Direct materials purchased and used (1,500 pounds) $2,850 Direct labor (1,410 hours) $19,458 Compute the total, price, and quantity variances for materials and labor.
Business
1 answer:
FinnZ [79.3K]3 years ago
6 0

Answer:

Total materials variance = (Actual quantity * Actual price) - (Standard quantity * Standard price)

= 2,850 - (230 * 14.4)

= 462 (Favourable)

Materials price variance = (Standard price - Actual price) * Actual quantity

= [1.8 - (2,850/1,500)] * 1,500

= 150 Unfavourable

Materials quantity variance = (Standard quantity - Actual quantity) * Standard price

= [(230 * 8) - 1,500] * 1.8

= 612 Favourable

Total labour variance = (Actual hours * Actual rate) - (Standard hours * Standard rate)

= 19,458 - (230 * 84)

= 138 Unfavourable

Labour price variance = (Standard rate - Actual rate) *  Actual hours

= [14 - (19,458/1,410)] * 1,410

= 282 Favourable

Labour quantity variance = (Standard hours - Actual hours) * Standard rate

= [(230 * 6) - 1,410] * 14

= 420 Unfavourable

You might be interested in
Dwjhbc,skugwhdcjgszhncdx ajhgcshanvcjut57725352371888886523e7yvhagayvx7565
Elden [556K]

Answer:the answer is... Wdsdftghyfeefvefvdcdfdf+A+&y43

Explanation:you are an "A" to the first letter and that's "D" there ya go

8 0
3 years ago
When a firm operates under conditions of monopoly its price is:?
Amiraneli [1.4K]
Havent you played monoply?
4 0
3 years ago
Assume the market basket for the consumer price index has two​ products, bread and​ milk, with the following values in 2013 and
Gnesinka [82]

Answer:

b. 116

Explanation:

The calculation of Consumer Price Index is shown below:-

CPI = ((Base year basket quantities × current year price) ÷ (Base year basket quantities × Base year prices)) × 100

= ((50 × $1.50) + (100 × $1.10)) ÷ ((50 × $1.20) + (100 × $1.00)) × 100

= (185 ÷ 160) × 100

= 115.6

0r 116

So, for computing the consumer price index for 2018 we simply applied the above formula.

3 0
3 years ago
An opportunity has the following four essential qualities: ________.
kaheart [24]

Answer:

A) attractive; timely; durable; and anchored in a product, service, or business that creates or adds value for its buyer or end user

Explanation:

A true business opportunity;

  1. is attractive, must have high profit expectations.
  2. must be durable, should last at least a few years, not only a one time event.
  3. must present itself at the right moment and time. Sometimes great ideas are left behind because they are too disruptive, e.g. the Nash Rambler built in 1950 was the first compact car but wasn't very successful. Japanese compact cars became successful in the 1970s.
  4. must be anchored in a product or service that your company can provide that satisfies consumers' needs.

7 0
3 years ago
Branford has one share of stock and one bond. The total value of the two securities is $1,200. The bond has a YTM of 10.2%, a co
riadik2000 [5.3K]

Answer:

The price of the stock is expected to be $188.16 in 1 year.

Explanation:

This can be determined as follows:

Current price of the stock = Expected next dividend / Expected return = $24.87 / 15.2% = $163.62

Expected stock price in 1 year = Current price of the stock * (100% + Expected return)^Number of year = $163.62 * (100% + 15.2%)^1 = $188.16

Therefore, the price of the stock is expected to be $188.16 in 1 year.

8 0
3 years ago
Other questions:
  • Closing a sale refers to: A. asking for a referral from a prospective customer.B. being turned down by a prospective customer.C.
    5·1 answer
  • How are the objectives of lean manufacturing achieved? a. Supplier partnering b. Employee involvement c. Product-oriented produc
    15·1 answer
  • Assume you can currently exchange one U.S. dollar for one hundred Japanese yen. Also assume the inflation rate will be 2.5 perce
    14·1 answer
  • An entrepreneur can best be characterized as someone who
    7·2 answers
  • When companies adopt the strategy-making and strategy execution process it requires they start by
    12·1 answer
  • A national political organization segmented the area of Jackson Hole, Teton County in Wyoming for its political marketing campai
    6·2 answers
  • When gathering information, which of the following tasks might you need to
    8·1 answer
  • Give two examples of products sold in perfectly competitive markets and two examples of products sold in monopolistically compet
    8·1 answer
  • What does the net income tell the
    11·1 answer
  • how might an interactive leader like mary barra communicate a policy change that impacts all gm employees from executive-level m
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!