HELP ASAPPPP HELPPP PLEASE HELP ME NO LINKS

Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis

seropon [69]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 40,000 units of product were as follows:

Standard Costs - Actual Costs

Direct materials 120,000 lb. at $3.20 118,500 lb. at $3.25

Direct labor 12,000 hrs. at $24.40 11,700 hrs. at $25.00

Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 15,000 direct labor hrs.:

Variable cost, $8.00 $91,200 variable cost

Fixed cost, $10.00 $150,000 fixed cost

Each unit requires 0.3 hour of direct labor.

A) Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (3.20 - 3.25)*118,500= $5925 unfavorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (120,000 - 118,500)*3.20=-$4,800 favorable

Total direct material variance= 5,925 - 4,800= 1,125 unfavorable

B)Direct labor efficiency variance= (SQ - AQ)*standard rate

Direct labor efficiency variance= (12,000 - 11,700)*24.40= -$7,320 favorable

Direct labor price variance= (SR - AR)*AQ

Direct labor price variance= (24.40 - 25)*11,700= $7,020 unfavorable

Total direct labor variance= $300 favorable

C) Variable factory overhead controllable variance= (8*15,000 - 92,100)= -$27,900 favorable

Fixed factory overhead volume variance= (10*15,000 - 150,000)= 0

Total factory overhead variance= 27,900 favorable

3 0

4 years ago

On a per unit basis, economic profit can be determined as the difference between:

DedPeter [7]

<span>The product price and the average total cost determines the profit. If a company is charging a higher price than the per-unit cost, then they are earning a profit on that item. If they increase the price with everything else remaining constant, their profit increases. The opposite happens when they lower the price, all else held constant.</span>

6 0

4 years ago

July 1 Purchased merchandise from Boden Company for $6,000 under credit terms of 1/15, n/30, FOB shipping point, invoice dated J

kramer

Answer:

Journal Entries are as below

Directive or Autocratic Decision Making:

Managers who embed such style assess few alternatives and consider limited information while taking any decision. They are intuitive and impulsive, do not find it important to consult with others or seek information in any form and use their cognitive process and idea while taking decisions.

BLINK COMPANY

JOURNAL

PERPETUAL INVETORY SYSTEM [AMOUNT IN $]

DATE PARTICULARS INVOICE DATE DR. CR.

Jul-01 PURCHASE A/C Jul-01 6,000

1/15,N/30 PAYABLE A/C {BODEN CO.} 6,000

Jul-02 A/C RECIEVABLE {CREEK CO.} Jul-02 900

SALES 900

2/10,N/60

COST OF GOODS SOLD 500

INVENTORY 500

Jul-03 CARRIAGE INWARDS A/C Jul-01 125

CASH A/C 125

Jul-08 CASH A/C 1,700

SALES A/C 1,700

COST OF GOODS SOLD 1,300

INVENTORY 1,300

Jul-09 PURCHASE A/C Jul-09 2,200

PAYABLE A/C {LEIGHT CO.} 2,200

2/15,N/60

Jul-11 PAYABLE A/C {LEIGHT CO.} Jul-09 200

INVENTORY 200

Jul-12 BANK A/C Jul-02 882

DISCOUNT ALLOWED 18

A/C RECIEVABLE {CREEK CO.} 900

Jul-16 PAYABLE A/C {BODEN CO.} Jul-01 6,000

BANK A/C 5,940

DISCOUNT RECEIVED 60

Jul-19 A/C REVIEVABLE {ART CO.} 1,200

SALES 1,200

2/15,N/60

COST OF GOODS SOLD 800

INVENTORY 800

Jul-21 SALES RETURN A/C Jul-19 200

A/C RECIEVABLE {ART CO.} 200

INVENTORY 134

COST OF GOOD SOLD 134

Jul-24 PAYABLE A/C {LEIGHT CO.} 2,000

BANK A/C 1,960

DISCOUNT RICEIVED 40

Jul-30 BANK A/C Jul-19 980

DISCOUNT ALLOWED 20

A/C RECIEVABLE {ART CO.} 1,000

Jul-31 A/C RECIEVABLE {CREEK CO.} Jul-31 7,000

SALES 7,000

2/16,N/60

COST OF GOODS SOLD 4,800

INVENTORY 4,800

Download xlsx

3 0

3 years ago

A national sales organization has implemented a set of training courses on its intranet, with a link that allows employees to fi

makkiz [27]

Answer:

b) knowledge management

Explanation:

Knowledge management is defined as the process in which an organisation creates, shares, uses and manages the information and knowledge of an organisation.

It is an approach multidisciplinary in nature to achieve the objectives of an organisational with the use of knowledge available.

It includes the courses which are taught in business administration, management, information system, library and information system.

7 0

4 years ago

The city council wants suggestions for crime prevention techniques such as installing unbreakable glass on storefronts to presen

umka2103 [35]

Options: A. Community policing. B. Situation prevention C. Target hardening D. Benefits diffu

Answer: C. Target hardening technique

Explanation: Target hardening technique is a technique adopted in crime prevention to make it very difficult for the targets of criminal activities to be reached or affected. The process of installing an unbreakable glass in the store of Businesses is one of the target hardening technique of crime Control.

Target hardening is of great importance for crime fighters like the police officers and the owners of Businesses as it makes the target less attractive to the criminals.

7 0

3 years ago