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brilliants [131]
3 years ago
8

Assume the following: The standard price per pound is $2.00. The standard quantity of pounds allowed per unit of finished goods

is 4 pounds. The actual quantity of materials purchased and used in production is 50,000 pounds. The actual purchase price per pound of materials was $2.25. The company produced 13,000 units of finished goods during the period. What is the materials spending variance
Business
1 answer:
adell [148]3 years ago
6 0

Answer:

Direct material price variance= $12,500 unfavorable

Explanation:

Giving the following formula:

The standard price per pound is $2.00.

The actual quantity of materials purchased and used in production is 50,000 pounds.

The actual purchase price per pound of materials was $2.25.

<u>To calculate the direct material price (spending) variance, we need to use the following formula:</u>

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

Direct material price variance= (2 - 2.25)*50,000

Direct material price variance= $12,500 unfavorable

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Scott wants to accumulate $3,800 over a period of 11 years so that a cash payment can be made for roof maintenance on his summer
Kamila [148]

Answer:

$240.76

Explanation:

The formula to determine the annual deposit is :

p = FV / annuity factor

Annuity factor = {[(1+r)^n] - 1} / r

FV = Future value  

P = Present value  

R = interest rate  

N = number of years  

Annuity factor = (1.07^11 - 1) / 0.07 = 15.783599

p = $3800 / 15.783599 = $240.76

3 0
3 years ago
When the US government becomes aware of economic changes, the discovery is most likely to influence 1. how the nation allocates
snow_tiger [21]

Answer:

1. How the nation allocates resources

Explanation:

Government is the chief decision maker in any economic model because their power enables to allocate nation`s resources among economic unit. As such they keep watch on the economic changes and trends in order to make the best economic decision for the nation. When government becomes aware of economic changes, it will try to allocate resources efficiently and effectively based on signal given by the changes.

For example, if US government is aware that the economy is nearing recession, it will be put in preventive measures to escape the intending recession and make sure it allocates its scarce in efficient way among the economic units by spending more on capital projects, raising social empowerment spending and doing other necessary things.

So the discovery of economic changes will most likely influence how the nation allocates resources.

5 0
3 years ago
The analysis tool that lists products in descending order of their individual dollar contribution to the firm is:
Sonja [21]

Answer:

Product Life Cycle Analysis

Explanation:

6 0
3 years ago
many electronics sold in the United states are imported from Taiwan because Taiwan can produce more efficiently than companies i
kondaur [170]
This may be incorrect, but importation?
6 0
3 years ago
Read 2 more answers
On May 7, Jernigan Company purchased on account 640 units of raw materials at $15 per unit. During May, raw materials were requi
Tema [17]

Answer:

Date               Account Title                                              Debit               Credit

May 7             Materials                                                 $9,600

                      Accounts Payable                                                            $9,600

<u>Working:</u>

= Units purchased * cost per unit

= 640 * 15

= $9,600

As the goods were purchased on account, they will be sent to accounts payable. Materials are assets so they will be debited when acquired.

3 0
3 years ago
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