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]
3 years ago
11

Standard Product Cost, Direct Materials Variance

Business
1 answer:
sdas [7]3 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
Adirondak Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rat
tamaranim1 [39]

Answer:

Predetermined manufacturing overhead rate= $14.77 per direct labor hour

Explanation:

Giving the following information:

Estimated overhead cost for the period= $325,000

Estimated total direct labor hours for the period= 22,000

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 325,000 / 22,000

Predetermined manufacturing overhead rate= $14.77 per direct labor hour

8 0
3 years ago
There are these Karens at my house putting their trash in front of MY HOUSE and what can i do?​
Artemon [7]
Call the cops or leave them be Karen’s
6 0
3 years ago
Read 2 more answers
A friend offers you a Coke, a Dr. Pepper, or a 7-Up. You don't like Coke, so after some thought, you take the Dr. Pepper. What i
Leokris [45]
<span>An opportunity cost is the value or benefit that must be given up to acquire or achieve something else. In this case whatever you choose (Coke, Dr.Pepper or 7-UP) everything would be free , at zero cost. This means that the opportunity cost in this case is zero, because the drink is free.</span>
4 0
3 years ago
1. Calculate GDP loss if equilibrium level of GDP is $10,000, unemployment rate 9.8%, and the MPC is 0.75.
Mars2501 [29]

Answer: 860

Explanation:

The gross domestic product is the value of the goods and services which are produced in a particular country from the year.

In this question, we are informed that we should calculate GDP loss if equilibrium level of GDP is $10,000, unemployment rate 9.8%, and the marginal prospensity to consume is 0.75.

The GDP loss will be calculated as:

= [(0.75 × 9.8)/100 × 10,000] + 125

= [(7.35/100) × 10000] + 125

= [(0.0735) × 10000] + 125

= 735 + 125

= 860

6 0
3 years ago
The process of applying controls to reduce the risks to an organization’s data and information systems is called ____________
defon

Answer:

The correct answer is: Risk Control.

Explanation:

Risk Control is the steps a firm takes to find possible losses and mitigate them. In the process, the company may find risk factors within the production process that are technical -inherent to the equipment, or non-technical -employees unsatisfied with wages that could lead to a strike, for instance. Risk control aims to set several actions that could avoid further problems in the prejudice of the organization.

4 0
3 years ago
Other questions:
  • A union election was held by the NLRB at Jaxon Industries, and 130 workers cast votes in the election. How many votes in favor o
    6·1 answer
  • Based on predicted production of 21,000 units, a company anticipates $357,000 of fixed costs and $309,750 of variable costs. the
    6·1 answer
  • Rhett corporation manufactures and sells dress shirts. each shirt (unit) requires 3 yards of cloth. selected data from rhett's m
    8·1 answer
  • Sunland Company reported the following information for the month of April: Units Work in Process Beginning inventory, April 1 8,
    7·1 answer
  • Flagg records adjusting entries at its December 31 year-end. At December 31, employees had earned $12,000 of unpaid and unrecord
    11·1 answer
  • Hannah was fired by Friendly Catering Company (FCC) without a valid reason. The company's employee handbook stated that employee
    5·1 answer
  • The federal government passes a law which a company, JuneCorp, feels unjustifiably discriminates against the company and harms i
    15·2 answers
  • Hardwoods, a timber supplying company, contracted with a furniture manufacturer, Taylor Furniture. Hardwoods owned a large plot
    12·1 answer
  • Joint products Alpha and Beta emerge from common processing that costs $200,000 and yields 9,000 units of Product Alpha and 5,60
    7·1 answer
  • Which type of adjusting entry is used to record a payment a company has not yet made for a service it received?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!