Explain why the direct materials price variance is often computed at the point of purchase rather than
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
The materials price variance is often computed at the point of purchas...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Cost Management Accounting and Control
ISBN: 978-0324559675
6th Edition
Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan
Question Posted:
Students also viewed these Managerial Accounting questions
-
Explain why the materials price variance is often computed at the point of purchase rather than at the point of issuance.
-
Suppose the direct materials price variance is large and favorable, and the direct materials efficiency variance is large and unfavorable. What questions would you be likely to ask when investigating...
-
1. In a standard cost system, materials price variance is obtained by multiplying the A) Actual quantity purchased by the difference between actual price and standard price. B) Standard price by the...
-
Factors that affect the selection of an inventory costing method do not include: (a) tax effects. (b) balance sheet effects. (c) income statement effects. (d) perpetual vs. periodic inventory system.
-
Discuss the general cost recovery method for farming assets?
-
Thirty years ago, the Bureau of Justice Statistics reported in Profile of Jail Inmates that the median educational attainment of jail inmates was 10.2 years. Ten current inmates are randomly selected...
-
What are the alternative decision-making models?
-
Christy Albright and Dan Ralls formed the Charter Company on 11/30/2012, and chose a tax year ending on 11/30. Charter was formed to operate a restaurant (at 7848 Pesca Dr., San Francisco, CA 94123)...
-
Imperial Jewelers manufactures and sells a gold bracelet for $404.00. The company's accounting system says that the unit product cost for this bracelet is $271.00 as shown below: Direct materials...
-
For Youth Agency (FYA) is a voluntary health and welfare organization that provides counseling and recreation programs for youthful offenders and delinquents. FYAs programs are financed through a...
-
The budget variance for variable production costs is broken down into quantity and price variances. Explain why the quantity variance is more useful for control purposes than the price variance....
-
The direct materials usage variance is always the responsibility of the production supervisor. Do you agree or disagree? Why?
-
Solve each quadratic equation by the method of your choice. xV2 = 5x - 2
-
Give example of 3 good business stories that used data analytics for their customer to their overall corporate goal.Please provide references
-
Do the good guys win? Can a corporation that practices corporate social responsibility (CSR) win over one that focuses on profits only? What are some advantages of spending money on CSR?
-
I have most of it just need a little help thanks Dont worry about the journal entries other than the two incomplete ones thanks I will like your answer (GA4 1 attempt 2) Tony and Suzie have purchased...
-
Two (2) examples of how good inventory control can be maintained.
-
What are ways to do the following Maintaining economic stability and growth Ensuring public safety and security Protecting the environment and promoting sustainability Enhancing public health and...
-
What are the advantages and disadvantages of making accounting rules by law as opposed to private-sector standards?
-
Danielle has an insurance policy with a premium of $75 per month. In September she is in an accident and receives a bill worth $2990 for the repair of her own property. Her deductible is $250 and her...
-
Let Z n be a Poisson r.v. with parameter equal to an integer n. Show that Z n may be represented as Y 1 +...+Y n , where the Ys are independent Poisson r.v.s with parameter = 1.
-
Wayne Kaegi's Verde Vineyards in Oakville, California, produces three varieties of wine: Merlot, Viognier, and Pinot Noir. His winemaster, Russel Hansen, has identified the following activities as...
-
Mallory Luongo, Inc. manufactures five models of kitchen appliances at its Mesa plant. The company is installing activity-based costing and has identified the following activities performed at its...
-
Sorce Instrument, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 50 range instruments and 300 pressure gauges were produced, and overhead costs of...
-
On January 1, 2021, Robertson Construction leased several items of equipment under a two-year operating lease agreement from Jamison Leasing, which routinely finances equipment for other firms at an...
-
Present Value Index Sweet Tooth Candy Company has computed the net present value for capital expenditure at two locations. Relevant data related to the computation are as follows: Carolina Jersey...
-
1. Brown Sheep Corporation exchanges one plant asset for a similar plant asset and gives cash in the exchange. The exchange is not expected to cause a material change in the future cash flows for...
Study smarter with the SolutionInn App