You are a recent college graduate who has just landed your first job. The company that hired you has

In January the company produced 4,400 units using 10,180 pounds of the direct material and 2,160 direct labor-hours. During the

snow_lady [41]

The question is in complete (the tutor added $8 as standard material price)

In January the company produced 4,400 units using 10,180 pounds of the direct material and 2,160 direct labor-hours. During the month, the company purchased 10,750 pounds of the direct material at a cost of $76,630. The actual direct labor cost was $38,250 and the actual variable overhead cost was $11,951. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for January is:

Assuming a standard material price of $8 per pound

(Note this was added by the tutor)

Answer:

Price variance $9,370 Favorable

Explanation:

Material price variance

A material price variance occurs where materials are purchased at a price either lower or higher than the standard price. A favorable variance is recorded where the actual total cost of materials is lower that the standard cost. While an adverse variance implies the opposite

$

10750 pounds should have cost (10,750 × $8) 86,000

but did cost (actual cost 76,630

Price variance 9,370 Favorable 

4 0

3 years ago

As the roman government became more efficient, it took on more functions. to pay for these services, rome ________.

Vanyuwa [196]

The answer to this question is increased taxes on farmers who lived outside of Italy
Larger government will always result in larger government spending (which will led into a higher amount of tax that must be paid). Since roman do not want its people to turn on them due to the increase in tax, Roman government decided to take it from the people outside their empire.

3 0

3 years ago

Read 2 more answers

Indicate in which financial statement each item would most likely appear: income statement (I), balance sheet (B), statement of

kherson [118]

Answer:

Assets (B)

Cash from operating activities (CF)

Dividends (E)

Equipment (B)

Expenses (I)

Liabilities (B)

Net decrease (or increase) in cash (CF)

Revenues (I)

Total liabilities and equity (I)

Explanation:

The balance sheet shows the assets, liabilities and equity of an entity as at a given date.

The income statement shows the revenue and expenses of the entity for the period ended while the statement of retained earnings shows the movements within the retained earnings account during the review period.

The statements of cashflow shows the net flow of cash from the company's activities namely; Operating, investing and financing activities.

4 0

3 years ago

An agent who makes misleading statements that lead to the termination of an existing insurance policy so that a new policy with

SVETLANKA909090 [29]

He has committed "twisting".

Twisting is intentionally putting forth deceptive expressions that would make a insured to lapse, appoint, or end insurance policy with a specific end goal to switch companies or policies. It is the demonstration of initiating or endeavor to instigate a policy owner to drop a current policy and to take another policy by utilizing deceptions or fragmented correlations of the focal points of the two policies.

4 0

3 years ago

As a server you earn $60000 per year, including tips. Someone offers you a new job as an economic consultant, which pays $100,00

Crank

The correct option is B

Explanation:

The accounting profit can be calculated with the help of following given formula

Accounting profit = revenue minus the explicit costs =100000 minus 25000

Thus, after calculations, the accounting profit is equal to $75000

To calculate the economic profit, the following formula is to be used.

The economic profit = accounting profit minus the implicit costs

=75000 minus 30000

($30000 is his salary as the server which is opportunity cost) =$45000

Thus, the Option B is the correct answer.

4 0

3 years ago