Question
Assume the following: The standard price per pound is $3.00. The actual quantity of materials purchased and used in production is 62,200 pounds. The actual
Assume the following:
- The standard price per pound is $3.00.
- The actual quantity of materials purchased and used in production is 62,200 pounds.
- The actual purchase price per pound of materials was $3.10.
What is the materials price variance?
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Assume the following:
- The standard price per pound is $4.50.
- The actual quantity of materials purchased and used in production is 60,000 pounds.
- The standard quantity allowed for the actual level of output is 59,200 pounds.
What is the materials quantity variance?
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Assume that a company provided the following cost formulas for three of its expenses (where q refers to the number of hours worked):
Rent (fixed) | $ 3,000 |
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Supplies (variable) | $ 5.00q |
Utilities (mixed) | $ 150 + $ 0.75q |
The companys planned level of activity was 2,000 hours and its actual level of activity was 1,850 hours. How much supplies expense would be included in the flexible budget?
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Assume that a companys planned level of activity was 2,000 units and its actual level of activity was 2,200 units. The spending variance for one of its fixed expenses was $200 favorable. The actual amount of the fixed expense was $10,520. What amount of this expense would be included in the companys planning budget?
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