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3 years ago

Silmon Corporation makes a product with the following standard costs:

Business

1 answer:

kolbaska11 [484]3 years ago

5 0

Answer:

Material quantity variance =$74, 280 unfavorable

Explanation:

The material quantity variance occurs when the actual quantity of material used to achieve a given level of output is more or less than the standard quantity expected.

For Silmon Corporation, it can be computed as follows:

Quantity variance is

Gram

5,300 units should have used ( 5300× 5.1 ) 27,030

but did used 39,410

Variance in quantity 12,380 Unfavorable

Price per unit × $6

Material quantity variance $ 74,280. Unfavorable

Material quantity variance =$74, 280 unfavorable

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Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $60 per unit.

zzz [600]

Answer:

Kindly refer to the attached table for breakdown of answers

Explanation:

FIFO is a costing method that assigns costs to production based on a First in First out basis. Meaning the oldest stocks are transferred to production before the earlier purchased stock

LIFO is a costing method which assigns costs to production on the newness of the stock item, that is Last in First out. The latests stock is always the first to be transferred to production

Weighted Average attempts to find a mix between FIFO & LIFO by employing a uniform valuation based on total value of stock divided by the Quantity of stock available at every point in time.

Cost of Goods sold is the relative cost associated with the sales volume based on the cost method adopted of the 3 listed above

And Closing inventory is the valuation of the stock left over at year end based on the Costing method earlier employed.

Download xlsx

8 0

3 years ago

Read 2 more answers

A U.S. company (like Jelly Belly) makes its gourmet jelly beans in the United States, and sugar is about half the cost of produc

Svetradugi [14.3K]

Answer: Highly doubtful.

Explanation:

U.S. sugar protection policies save producers in the U.S. billions of dollars so those companies continually lobby for the government to keep up the policies.

A company such as Jelly Belly is not influential enough to fight off the various sugar interests unless there are other players like Jelly Belly in the game. The text makes no mention of them however so it must just be Jelly Bean and they do not have the influence to get the government to reverse policy.

3 0

3 years ago

Equipment that cost $411000 and on which $194000 of accumulated depreciation has been recorded was disposed of for $173000 cash.

ANTONII [103]

Answer:

Given that,

Cost of equipment = $411,000

Accumulated depreciation = $194,000

Dispose accumulated depreciation for cash = $173,000

The Journal entry is as follows:

Cash A/c Dr. $173,000

Accumulated depreciation A/c Dr. $194,000

Loss in Disposal A/c Dr. $44,000

To Equipment a/c $411,000

(To record the accumulated depreciation and dispose off.)

Loss in Disposal:

= Cost of equipment - Accumulated depreciation - Dispose accumulated depreciation

= $411,000 - $173,000 - $194,000

= $44,000

6 0

4 years ago

Andy contrasts barcelona restaurants with other establishments where employees are "told how to answer a phone and how to set a

hoa [83]

Barcelona's more relaxed work rules could help it achieve relational coordination - the social processes and the human interactions support the coordinating process and task integration. The relational coordination includes communication and relationships in order to achieve the same goal.

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4 years ago

Bass new product forecasting model is used for estimating long term sales potential of a product True False

kobusy [5.1K]

Answer:

True

Explanation:

The Bass New forecasting model is a forecasting model that is commonly used to estimate the sales of a product at a certain in future and it is used for highly durable goods.

The bass new forecasting model wad developed by Frank Bass and it has a formula

f ( t ) = p + qF ( t )

1 - f ( t )

where:

f ( t ) is the change of the installed base fraction

F(t) is the installed base fraction

p is the coefficient of innovation

q is the coefficient of imitation

Cheers.

7 0

3 years ago