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Nataly [62]
3 years ago
13

The following data are given for Stringer Company: Budgeted production 967 units Actual production 1,021 units Materials: Standa

rd price per ounce $1.98 Standard ounces per completed unit 11 Actual ounces purchased and used in production 11,568 Actual price paid for materials $23,714 Labor: Standard hourly labor rate $14.92 per hour Standard hours allowed per completed unit 4.4 Actual labor hours worked 5,258.15 Actual total labor costs $80,187 Overhead: Actual and budgeted fixed overhead $1,035,000 Standard variable overhead rate $27.00 per standard labor hour Actual variable overhead costs $147,228 Overhead is applied on standard labor hours. The direct materials quantity variance is a.809.36 favorable b.809.36 unfavorable c.667.26 unfavorable d.667.26 favorable
Business
1 answer:
asambeis [7]3 years ago
4 0

Answer:

d. 667.26 Favorable

Explanation:

Direct materials quantity variance = (Standard quantity allowed - Actual Quantity Used) * Standard Price of a unit of direct material

Direct materials quantity variance = (11*1,021 - 11,568) * $1.98

Direct materials quantity variance = (11,231 - 11,568) * $1.98

Direct materials quantity variance = 337 * $1.98

Direct materials quantity variance = $667.26 Favorable

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max2010maxim [7]

Answer:

-4 units

Explanation:

Using the midpoint method, Blake's income elasticity of demand for generic potato chips is given by the change in demand (D) multiplied by his average income (I), divided by the change in income multiplied by the average demand:

E=\frac{\Delta D}{\Delta I}*\frac{I_{avg}}{D_avg}\\E=\frac{0-2}{15-9}*\frac{\frac{9+15}{2}}{\frac{2+0}{2} }\\E=-4\ units

Blake's income elasticity of demand is -4 units.

8 0
3 years ago
Andy wants to install a new internet connection. He went to take the fastest he can get. What are the maximum speeds for
tresset_1 [31]
Please provide adequate options to choose from.
4 0
3 years ago
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Ketchum & Lushene Hardware sells 100 hammers daily. The supplier takes two days
Softa [21]

Answer:

He should reorder when he is left with 200 hammers.

Explanation:

Reorder point is the trigger which informs the businessmen to order the inventory when the stock is used.

Reorder point =  Safety Stock + (Average daily usage of units * Average lead time in days )

Reorder Point = 0 + (100 hammers * 2 days)

Reorder Point = 200

8 0
3 years ago
The following transactions occur for Cardinal Music Academy during the month of October: Provide music lessons to students for $
Masteriza [31]

Answer:

a. Journal entry to record music lesson

Date         Account title and Explanation     Debit     Credit

October   Cash                                              $12,500

                       Service revenue                                    $12,500

                (To record music lesson for cash)

b. Journal entry to record prepaid insurance purchase

Date         Account title and Explanation     Debit     Credit

October   Prepaid insurance                         $3,660

                       Cash                                                        $3,660

                 (To record  prepaid insurance paid for next year)

c. Journal entry to record musical equipment purchased

Date         Account title and Explanation     Debit     Credit

October    Equipment                                    $15,500

                        Cash                                                      $15,500

                  (To record musical equipment purchase for cash)

d. Journal entry to record

Date         Account title and Explanation     Debit     Credit

October    Cash                                              $21,000

                        Notes payable                                       $21,000

                  (To record loan taken by signing a note)

6 0
3 years ago
Money, Inc., a calendar year S corporation in Denton, Texas, has two unrelated shareholders, each owning 50% of the stock. Each
ratelena [41]

Answer:

See below

Explanation:

a. At the end of the year, before distribution, each shareholder's basis

= $400,000 + $100,000 + $50,000

= $550,000

b. After the distribution, each shareholder's basis is

= $300,000 + $200,000

= $500,000

c. Therefore, each shareholder has

$250,000 worth of dividend income.

3 0
3 years ago
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