All categories

3 years ago

Corporation produces a single product. The standard cost card for the product follows:

Business

1 answer:

Likurg_2 [28]3 years ago

8 0

Answer:

Results are below.

Explanation:

To calculate the direct material price and quantity variance, we need to use the following formulas:

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

Direct material price variance= (5 - 2.1)*56,100

Direct material price variance= $169,690 favorabe

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

Direct material quantity variance= (8,840*4 - 36,450)*5

Direct material quantity variance= $5,450 unfavorable

To calculate the direct labor efficiency and rate variance, we need to use the following formulas:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (1.5*8,840 - 18,000)*10

Direct labor time (efficiency) variance= $47,400 unfavorable

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (10 - 8.2)*18,000

Direct labor rate variance= $32,400 favorable

You might be interested in

Cheetah Copy purchased a new copy machine. The new machine cost $100,000 including installation. The company estimates the equip

Zina [86]

Answer:

Results are below.

Explanation:

Giving the following information:

Purchase price= $100,000

Salvage value= $25,000

Useful life= 4 years

To calculate the annual depreciation, we need to use the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (100,000 - 25,000) / 4

Annual depreciation= $18,750

Year 1:

Annual depreciation= 18,750

Accumulated depreciation= 18,750

Book value= 100,000 - 18,750= 81,250

Year 2:

Annual depreciation= 18,750

Accumulated depreciation= 18,750*2= 37,500

Book value= 100,000 - 37,500= 62,500

Year 3:

Annual depreciation= 18,750

Accumulated depreciation= 18,750*3= 56,250

Book value= 100,000 - 56,250= 43,750

Year 4:

Annual depreciation= 18,750

Accumulated depreciation= 18,750*4= 75,000

Book value= 100,000 - 75,000= 25,000

5 0

3 years ago

ClevelandInc. leased a new crane to Abriendo Construction under a 5-year, non-cancelable contract starting January 1, 2020. Term

Sophie [7]

Answer:

The correct answer is "2,40,000". The further explanation is given below.

Explanation:

The given fair value is:

= $240,000

The presentation in books of lessee will be:

⇒ $Record \ of \ assets =PV \ of \ Lease \ Payment +Unguaranteed \ residual \ value$

⇒ $Annuity \ value \ of \ 8 \ percent \5 \ year\times 48555+Anuity \ value \ of \ 5th \ year\times 45000$

On putting the values, we get

⇒ $3.9927\times 48555+0.6806\times 45000$

⇒ $193865.54+30627$

⇒ $224492.54 \ i.e., 2,24,493$ ($)

Presentation in books of Lessor , the fair value of assets will be

= $2,40,000$ ($)

8 0

4 years ago

Marcie conducted a study of the cost of breakfast cereal. She recorded the costs of several boxes of cereal. However, she neglec

tester [92]

Answer:

The advice is wrong. A sampling error only accounts for the difference in results based on the use of a sample rather than the entire population.

Explanation:

7 0

3 years ago

The interaction of individual choices Because a type of fish is on the verge of extinction, the government imposes rules that pr

pishuonlain [190]

Answer: Option (B) is correct.

From the comprehension given, the following is the most suitable description using principles of economics, "When markets do not achieve efficiency, government intervention can improve overall welfare."

At times it is possible to minimize externalities with government intervention, such as in this particular case government intervention could prevent the extinction of a specific type of fish, which will further lead to lead to an improvement in overall welfare.

5 0

4 years ago

For each of the following annuities, calculate the present value. (Enter rounded answers as directed, but do not use rounded num

sammy [17]

Answer:

Answer for the question:

For each of the following annuities, calculate the present value. (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) Present Value Annuity Payment Interest Rate Years $ _____ $ 2,100 8 % 7 $ _____ $ 1,095 7 % 9 $ $11,000 9 % 18 $ $ 30,000 11 % 28

is given in the attachment.

Explanation:

4 0

3 years ago

Read 2 more answers