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
iVinArrow [24]
2 years ago
11

Standard Product Cost, Direct Materials Variance

Business
1 answer:
sdas [7]2 years ago
5 0

Answer:

A. $1.18

B. Whole tomatoes $90 Unfavorable

Vinegar ($24.30) Favorable

Corn syrup $10 Unfavorable

Salt ($2.50) Favorable

Total direct materials quantity variance $73.20 Unfavourable

Explanation:

a. Calculation to Determine the standard unit materials cost per pound for a standard batch.

Ingredient Standard quantity* Standard price= Standard Cost per Batch

Whole tomatoes 4,200 lbs.*$0.45 per lb=$1,890

Vinegar 230 gal.*$2.70 per gallon=$621

Corn syrup 20 gal.*$10.00 per gal=$200

Salt 92 lbs.* $2.50 per lb=$230

Total $2,941

Standard unit materials cost per pound=$2,941/$2,500 Standard unit materials cost per pound=$1.18

Therefore the standard unit materials cost per pound for a standard batch $1.18

[b] Calculation to determine the direct materials quantity variance for batch K-111

Ingredient Standard quantity-Actual Quantity =Difference* Standard price= Materials Quantity Variance Favorable/Unfavorable

Whole tomatoes 4,200 lbs -4,400 lbs=200 lbs*$0.45=$90 UNFAVORABLE

Vinegar 230 gal- 221 gal=(9gal)*$2.70=($24.30) FAVORABLE

Corn syrup 20 gal-21 gal=1gal*$10=$10 UNFAVORABLE

Salt 92 lbs-91 lbs=(1lbs)*$2.50=($2.50)FAVOURABLE

Total direct materials quantity variance $73.20 Unfavourable

($90-$24.30+$10-$2.50)

Therefore the direct materials quantity variance for batch K-111 will be:

Whole tomatoes $90 Unfavorable

Vinegar ($24.30) Favorable

Corn syrup $10 Unfavorable

Salt ($2.50) Favorable

Total direct materials quantity variance $73.20 Unfavourable

You might be interested in
Here, the rod has a diameter d of 16 centimeters. The length from point A to point B, LAB, is 2 meters, and the length from poin
pantera1 [17]

Answer:

6/7 kN

Explanation: See attached file

7 0
3 years ago
Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 9 years because the
Diano4ka-milaya [45]

Answer 45k ...

Explanation:

7 0
2 years ago
A house sold for $950,000 with a sales commission rate of 7.5%. The listing brokerage received 50% of the total commission and t
aleksandrvk [35]

Answer:$14,250

Explanation:

The total commission recieved is

950,000 x 7.5% = $71,250

The listing brokerage and the selling brokerage both received 50% of that sum which is

71,250/2 = $35,625

The Sales person gets 40% of the Selling brokerage's cut which would be

35,625 x 40% = $14,250

8 0
3 years ago
Arises when there are many firms each selling an identical​ product, many​ buyers, and no restrictions on the entry of new firms
tensa zangetsu [6.8K]
1.perfect competition
2.monopolistic competition
3.oligopoly
4.monopoly
8 0
3 years ago
Larned Corporation recorded the following transactions for the just completed month.
Galina-37 [17]

Answer and Explanation:

The journal entries are shown below:

Raw materials inventory $76,000  

   To Accounts payable $76,000

(being the raw material purchased on account)

Work in process inventory $65,000

Manufacturing overhead $9,000

      To Raw materials inventory $74,000

(Being the work in process and overhead is recorded)

Work in process inventory $101,500

Manufacturing overhead $21,500

      To Cash $123,000

(being cash paid is recorded)

Manufacturing overhead $195,000

        To Accumulated depreciation-Equipment $195,000

(being the manufacturing overhead is recorded)

7 0
3 years ago
Other questions:
  • Imagine you are writing a plan for how to move toward a career. Which of these pieces of information do you think
    12·1 answer
  • I'LL GIVE YOU BRAINLIST!!!!!
    5·1 answer
  • A comparison between Operating Lease and Capital Lease Now assume that Company ABC leases an equipment for 5 years instead. Othe
    15·1 answer
  • Gutierrez Company reported net income of $193,400 for 2017. Gutierrez also reported depreciation expense of $45,600 and a loss o
    13·1 answer
  • A factory worker really wants to move up in the corporation. He does his work, stays late, and is always looking for extra ways
    9·1 answer
  • When working on a bullet list you can define a custom bullet character by selecting any symbol available and using it as the bul
    11·1 answer
  • Help me with these please? Marking brainliest for best answer! On a time crunch
    15·1 answer
  • Fixed costs of production in the short run rev: 06_26_2018 Multiple Choice are a function of the level of variable costs. are lo
    13·1 answer
  • From an entrepreneurial perspective, ______ is a description of the future you envision for your business.
    12·1 answer
  • Please identify a firm using the various variables used in SCM and OHS&S as per legal requirements.​
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!