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AysviL [449]
3 years ago
9

He following materials standards have been established for a particular product: Standard quantity per unit of output 4.2 meters

Standard price $ 18.40 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased 7,200 meters Actual cost of materials purchased $ 138,600 Actual materials used in production 6,700 meters Actual output 1,550 units. What is the materials price variance for the month?
a. $3,658 U
b. $7,700 U
c. $11,770 U
d. $6,120 U
Business
1 answer:
svet-max [94.6K]3 years ago
6 0

Answer:

d. $6,120 U

Explanation:

Calculation to determine the materials price variance for the month

Using this formula

Materials price variance = (AQ × AP) – (AQ × SP)

Let plug in the formula

Materials price variance = $138,600 – (7,200 meters × $18.40 per meter)

Materials price variance = $138,600 – $132,480

Materials price variance = $6,120 U

Therefore Materials price variance is $6,120 U

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Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Johnstone Manufacturing Company for the month
julsineya [31]

Answer and Explanation:

a. The preparation of the cost of goods manufactured statement is as follows:

Opening work in process $119,760

Direct Material    

Opening inventory $178,750  

Add: Material Purchased $343,200  

Cost of Materials Available  $521,950  

Less: Ending Inventory -$151,940  

Cost of Direct Materials Used $370,010  

Direct Labor  $321,750  

Factory Overhead:    

Indirect Labor $34,320  

Machinery Depreciation $20,740  

Heat, Light and Power $7,150  

Supplies $5,720  

Property Taxes $5,010  

Miscellaneous Costs $9,300  

Total Factory Overhead $82,240  

Total Manufacturing Costs Incurred $774,000

Total Manufacturing Costs   $893,760

Less: Ending Work in Process $101,800

Cost of Goods Manufactured $791,960

b. Now the cost of goods sold is

Cost of Goods Sold= Cost of Goods Manufactured + Beginning Finished Goods - Ending Finished Goods

= $791,960 + $91,160 - $103,320

= $779,800

5 0
3 years ago
Need help contact me!
Oliga [24]

Answer:

you need help in what???

7 0
3 years ago
Read 2 more answers
The next dividend payment by Hot Wings, Inc., will be $4.25 per share. The dividends are anticipated to maintain a 3 percent gro
NARA [144]

Answer:

10.20%

Explanation:

According to the Gordon constant growth model :

value = D1 / r - g

D1 = next dividend = $4.25

r = required return

g = growth rate = 3%

value = $59

$59 = $4.25 / r - 0.03

4.25 / 59 = r - 0.03

0.072034 = r - 0.03

r = 0.102034

r = 10.20%

8 0
3 years ago
Two guys walk into a bar; the third one ducks. If these three men acted independently, and the probability is 0.7 that a person
allsm [11]

Answer:

0.063

Explanation:

Given

Probability of a person to not enter into a bar or ducking   is 0.7

Probability of a person to  enter into a bar  

1 - (Probability of a person to not enter into a bar or ducking)

Substituting the given value, we get

Probability of a person to enter into a bar  

= 1 - 0.7 \\= 0.3

Total three men attempts to enter into the bar and their course of action is independent of each others

Thus, probability of observing the first two walking into the bar and the third ducking will be equal to the product of individual probabilities

= 0.7 * 0.3 * 0.3\\= 0.063

7 0
4 years ago
A developer builds 100 new homes next to an old grocery store. Which would most certainly result? cross out A) The price of the
kifflom [539]

Answer:

B

Explanation:

As more consumers move in, the demand curve for the store's products would increase (shift to the right) as it is influenced by factors other than price.

While option A could be an eventual outcome, it would only follow an increase in Demand. Note that a change in price would result in movement along the curve.

There is not sufficient information to support Option C

Option D is wrong because higher demand would result in higher revenues, assuming all else remains constant.

3 0
3 years ago
Read 2 more answers
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