Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic During the quarter ending June 30,

image text in transcribed

Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic During the quarter ending June 30, the company manufactured 3.900 helmets, using 2,613 kilograms of plastic. The plastic cost the company $19,859. According to the standard cost card, each helmet should require 0.59 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,900 helmets? 2. What is the standard materials cost allowed (SQ SP) to make 3,900 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard quantity of kilograms allowed 2. Standard cost allowed for actual output 3. Materials spending variance 4. Materials price variance 4. Materials quantity variance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M

5th Canadian edition

9781259105692, 978-1259103285

More Books

Students also viewed these Accounting questions

Question

Who are venture capitalists, and what do they do?

Answered: 1 week ago

Question

What was the first language you learned to speak?

Answered: 1 week ago

Question

Define the term utility software and give two examples.

Answered: 1 week ago

Question

How should this flexible investment be valued?

Answered: 1 week ago

Question

Should Amazon stock every product it sells?

Answered: 1 week ago