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valina [46]
3 years ago
13

The following data relate to the direct materials cost for the production of 2,200 automobile tires:

Business
1 answer:
vivado [14]3 years ago
5 0

Answer:

A) - $2585  

    $1750

    -$835

B) Purchasing department , Purchasing supervisor , purchasing department

Explanation:

A) calculations for direct material price variance , quantity variance and total direct materials cost variance

<u><em>Direct material price variance</em></u> = 51,700 * ( 1.7 - 1.75 ) = -$2585.

<u><em>Direct material Quantity variance </em></u>= 1.75 ( 51700 - 50700 ) = $1750  

<u><em>Total direct materials Cost variance</em></u> = 87890 - 88725 = - $835  a

B)

The direct materials price variance should normally be reported to the Purchasing department.

When lower amounts of direct materials are used because of production efficiencies, the variance would be reported to the production supervisor

When the favorable use of raw materials is caused by the purchase of higher-quality raw materials, the variance should be reported to the Purchasing department

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1. In what way do organization charts create a picture of an<br> organization?
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Brian just started using a budget. He proudly tells friends that his budget helps him know where his money is being spent. It al
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3 years ago
Walt Bach Company has accumulated the following budget data for the year 2019.
mrs_skeptik [129]

Answer:

Walt Bach Company

a) Schedule of Cost of Goods Sold

Direct materials =                 $400,000 (2*$5*40,000)

Direct labor =                          960,000 (1.5*$16*40,000)

Manufacturing overhead =    360,000 ($6*60,000)

Total cost of goods sold = $1,720,000

b) Budgeted Income Statement for 2013

Sales Revenue          $2,200,000

Cost of goods sold      (1,720,000)

Gross profit                   $480,000

Selling and admin. exp.  200,000

Income before tax        $280,000

Income tax (30%)             (84,000)

Net income                   $196,000

Explanation:

a) Budget Data and Calculations:

Sales: 40,000 units, unit selling price $55, Revenue = $2,200,000

Cost of one unit of finished goods:

Direct materials 2 pounds at $5 per pound = $400,000 (2*$5*40,000)

Direct labor 1.5 hours at $16 per hour = $960,000 (1.5*$16*40,000)

Manufacturing overhead $6 per direct labor hour = $360,000 ($6*60,000)

Inventories (raw materials only):

Beginning, 10,000 pounds;

Ending, 15,000 pounds.

Selling and administrative expenses: $200,000.

Income taxes: 30% of income before income taxes.

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3 years ago
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