Answer:
$7,140 unfavorable
Explanation:
The computation of the materials quantity variance for March is shown below;
We know that
Material Quantity Variance = Standard rate × ( Standard Quantity for actual production - Actual Quantity Used)
=$5.25 × ([4,800 units × 1.5 pounds per unit] - (10,700 - 2,140)
=$5.25 × (7,200 pounds - 8,560 pounds)
= $7,140 unfavorable
Answer:
$71,300
Explanation:
Stuart and Pamela Gibson
Casualty loss $13,600
[$48,600 – (10% × $350,000)]
Home mortgage interest 19,000
State tax 10,000
(18,000 income and 16,300 property
Limited to 10,000)
Charitable Contributions 28,700
Total itemized deductions 71,300
Answer:
$115
Explanation:
The computation of the cost of the ending inventory is shown below:
Total units purchased
= 7 units + 5 units + 6 units
= 18 units
And, the total cost is
= 7 units × $8 + 5 units × $10 per unit + 6 units × $11 per unit
= $56 + $50 + $66
= $172
And, the closing units inventory units is
= 18 units - 6 units
= 12 units
So, the cost of ending inventory is
= $172 × 12 units ÷ 18 units
= $115
