Complete Question:
Collegiate Rings produces class rings. Its best-selling model has a direct materials standard of 8 grams of a special alloy per ring. This special alloy has a standard cost of $65.40 per gram. In the past month, the company purchased 8,700 grams of this alloy at a total cost of $567,240. A total of 8,300 grams were used last month to produce 1,000 rings. Read the requirements. Requirement 1. What is the actual cost per gram of the special alloy that Collegiate Rings purchased last month? (Round your answer to the nearest cent.) The actual cost per gram of the special alloy that Collegiate Rings purchased last month is $
Answer:
Collegiate Rings
The actual cost per gram of the special alloy that Collegiate Rings purchased last month is $65.20
Explanation:
Calculations:
Actual Cost per gram of special alloy = Total Actual Cost/Total Actual Quantity
= 567,240/8,700 grams
= $65.2
This value represents the cost of the special alloy per gram. It is obtained as calculated above. Price or cost per unit is always equal to the actual cost divided by the total quantity. The actual cost will be equal to the price charged by the supplier less any discounts or special allowances.
Answer: $3,875 Favorable
Explanation: We can compute direct labor efficiency variance by using following formula :-
Direct labor efficiency variance = standard rate ( actual hours - standard hours)
where,
standard hours = 5,500units * 0.5 hour = 2750 hours
actual hours = 3,000 hours
standard rate = $15.5
putting the values into equation we get :-
Direct labor efficiency variance = $15.5 ( 3,000 - 2750)
= $3,875 Favorable
Answer: B
Before any actual work is begun you need to have a formal application so there’s something to be worked with.
Answer:
sandwiches
Explanation:
supplier has plenty of spare capacity to increase output
high stocks levels are available to meet raising demand
short production time frame to get products to market
easy of factor substitution is high
Answer:
The statement is true
Explanation:
Marketing strategy is the strategy which is defined as all of the marketing objective as well as goals of the company combined into a one or a single comprehensive plan. It is the one which develop and create marketing mix.
It is designed in order to develop or promote the good and service so that the business could earn or make profit.
So, the statement is true as it is stating that the strategies involve selecting activities and define 1 or more target markets. Also maintain and develop the marketing mix.
