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
Elden [556K]
3 years ago
15

Ruby Company produces a chair that requires 7 yards of material per unit. The standard price of one yard of material is $14.40.

During the month, 6,500 chairs were manufactured, using 44,600 yards at a cost of $15.12 per yard. Enter favorable variances as negative numbers. (a) Determine the price variance. $fill in the blank 1 (b) Determine the quantity variance. $fill in the blank 3 (c) Determine the cost variance. $fill in the blank 5
Business
1 answer:
Usimov [2.4K]3 years ago
7 0

Answer:

See below

Explanation:

a. Price variance

= (Actual price - Standard price) × Actual material

= ($15.12 - $14.40) × 44,600

= $0.72 × 44,600

= $32,112 Unfavourable

b. Quantity variance

= (Actual quantity - Standard quantity) × Standard price

= [44,600 - (6,500 × 7) ] × $14.40

= (44,600 - 45,500) × $14.40

= -900 × $14.40

= $12,960 Favourable

C. Cost variance

= Actual cost - Standard cost

= (44,600 × $15.12) - (7 × 6,500 × $14.40)

= $674,352 - $655,200

= $19,152Unfavourable

You might be interested in
A brand developed by a retailer and/or wholesaler that is available only in selected retail outlets is called a ________ brand.
abruzzese [7]
<span>A brand developed by a retailer and/or wholesaler that is available only in selected retail outlets is called a private-label brand. Private label branding is manufacturing of goods/ services by one company but it is known by the name of another one. The benefits of such an economical strategy are : the competition is reduced, whereas margins are increased as well as customers' loyalty.<span>
</span></span>
5 0
3 years ago
Read 2 more answers
Use the following information to determine the break-even point in units (rounded to the nearest whole unit): Unit sales 58,000
Tema [17]

Answer:

29,394 units

Explanation:

The formula for break even point is given as Fixed cost / Contribution margin.

Where;

Contribution margin = Sales per unit - Variable cost per unit

Given that ;

Fixed cost = $194,000

Unit selling price = $14.90

Unit variable cost = $8.30

Therefore;

BEP(units) = $194,000 / $14.90 - $8.30

= $194,000 / $6.6

= 29,394 units

5 0
3 years ago
Holding other things constant, an increase in the inflation rate in the US compared to China may cause the demand for dollar to
Oliga [24]
Increase and increase. If it’s wrong please let me know!
6 0
3 years ago
Businesses using the allowance method for the recognition of uncollectible accounts expense commonly experience four accounting
olchik [2.2K]

Answer:

(1) Recognition of revenue on account.

The accounting record a sale as usual.

(2) Collection of cash from accounts receivable.

The accounting records the accrued revenues as usual.

(3) Recognition of uncollectible accounts expense through a year-end adjusting entry.

Based on experience or other actors, the company considers a portion of their sales revenecue (or assets i nthe balance heet) to be ficticional.

(4) Write-off of uncollectible accounts.

The accouning simply decrease the acc receivalues and then, it proceeds with the credited agains the allowance.

Explanation:

5 0
3 years ago
Find the next term in pattern 3,6,9 the next term is 12 because the previous terms are multipes of 3
dem82 [27]

3 + 3 = 6 + 3 = 9 + 3 = 12 + 3 = 15 an so on

6 0
2 years ago
Other questions:
  • Graphical Designs is offering 20-20 preferred stock. The stock will pay an annual dividend of $20 with the first dividend paymen
    7·1 answer
  • Inventory Valuation under Variable Costing Lane Company produced 50,000 units during its first year of operations and sold 47,30
    15·1 answer
  • You are the CEO of a company that has to choose between making a $100 million investment in either Russia or Poland. Both invest
    15·1 answer
  • Walnut has received a special order for 2,700 units of its product at a special price of $200. The product normally sells for $2
    9·1 answer
  • ​When Mia and Shane are planning their honeymoon, their travel agent tells them that if they buy a special package, their trip t
    7·1 answer
  • What is the name for Americans who aim to reduce all government to a minimum and insist that government should protect public sa
    9·1 answer
  • Under the indirect method of preparing the statement of cash flows, how is an increase in accounts receivable handled?
    12·1 answer
  • The following are hibiscus company cost of making and selling an item:
    15·1 answer
  • The most important useful measure of cost is
    7·1 answer
  • Which of these social sciences deals most with models of behavior rather than with thought processes?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!