2. The following materials standards have been established for a particular product: Standard quantity per unit...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
2. The following materials standards have been established for a particular product: Standard quantity per unit of output........... Standard price....... 1.7 meters $19.80 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased. 5.800 meters $113,680 Actual cost of materials purchased.. Actual materials used in production... Actual output....... 5,100 meters 3,200 units What is the materials quantity variance for the month? A. $13,720 U B. $6,732 F C. $13,860 U D. $6,664 F 2. The following materials standards have been established for a particular product: Standard quantity per unit of output........... Standard price....... 1.7 meters $19.80 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased. 5.800 meters $113,680 Actual cost of materials purchased.. Actual materials used in production... Actual output....... 5,100 meters 3,200 units What is the materials quantity variance for the month? A. $13,720 U B. $6,732 F C. $13,860 U D. $6,664 F
Expert Answer:
Answer rating: 100% (QA)
Correct answerB 6732 F Material Quantity Variance Standard Quantity Actual Qua... View the full answer
Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-0324660135
3rd Edition
Authors: Mowen, Hansen, Heitger
Posted Date:
Students also viewed these accounting questions
-
The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 4.6 grams $ 15.05 per gram The following data pertain to...
-
The following labor standards have been established for a particular product made by Dodoo-GIllespie Corp. Standard labor hours per unit of output 8.1 hours Standard labor rate $14.40 per hour The...
-
The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output 4.9 hours Standard variable overhead rate $15.00 per...
-
The table contains real data. MySpace U.S. Advertising Revenue ($ millions) (a) Determine the maximum and minimum values for each variable in the table. (b) Use your results from part (a) to find an...
-
OccuLogix, Inc., provides treatments for eye diseases, including age-related macular degeneration (AMD). The company's treatment system, called the RHEO system, consists of an Octonova pump and...
-
Why has the New International Economic Order demanded by developing countries not been established? Why is this no longer a hotly debated topic?
-
When you are a general manager, how will you ensure that your organization learns continuously?
-
The manager of a consulting firm has asked you to evaluate a database that contains the table structure shown in Table P6.10. Table P6.10 was created to enable the manager to match clients with...
-
Net Present Value and profitability Index Question: Coore Manufacturing has the following two possible projects. The required return is 12 percent Year Project M Project N 0 - $47 , 600 $- $81 , 000...
-
take the role of a server. Q6. handling unusual circumstances
-
Explain theories and models which examine organisational culture and human behaviour in sufficient depth-you have not provided enough evidence. ACTION POINTS For this criterion, you need to; provide...
-
How is China leading the way in green technology? What should organizations that design and manufacture green technology be including in their long-term strategy? 2. What advice regarding investment...
-
Current Attempt in Progress On January 1, 2022, Oriole Company had the following stockholders' equity accounts. Common Stock ($14 par value, 81,300 shares issued and outstanding) $1,138,200 Paid-in...
-
Adams wants to negotiate with the Barbary States, and Jefferson wants to fight. Comparing their 1786 letters, where do these men agree, and where do they disagree? How does each man present cost data...
-
Suppose, in a regression, you know you have an omitted variable, W i . In your model, you estimate the coefficient on D i (i.e. the effect of interest) the to be positive. Under what conditions on...
-
10 To determine the height of a tree a botanist makes the following diagram What is the height of the tree z
-
In a certain school district, 3% of the faculty use none of their sick days in a school year. Find the probability that 5 faculty members selected at random used no sick days in a given year.
-
Refer to the information provided in Exercise 11-32. Assume that CHCs actual production required 156,000 direct labor hours at standard. The actual overhead costs incurred were as follows:...
-
Shaftel Ready Mix is a processor and supplier of concrete, aggregate, and rock products. The company operates in the intermountain western United States. Currently, Shaftel has 14 cement-processing...
-
Refer to the Barnard Company information in Multiple-Choice Exercise 2-13. Conversion cost per unit is: a. $7.00. b. $20.00. c. $15.00. d. $5.00. e. $27.60.
-
Fogel Limited commenced trading as a carpet manufacturer on 1 November 1986. The accountant decided to produce a value added statement with the financial accounts for the year ended 31 October 1988....
-
In recent years several large listed companies have purchased their own ordinary shares. \section*{You are required to summarise} (a) the accounting requirements for a public listed company when it...
-
Capital plc carried on business in four product segments, namely aircraft design, hairdressing salons, import agencies and beauty products. The directors are now considering the dividend policy and...
Study smarter with the SolutionInn App