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 3 0

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 3,800 helmets, using 2,964 kilograms of plastic. The plastic cost the company $22,526.
According to the standard cost card, each helmet should require 0.69 kilogram of plastic, at a cost of $8.00 per kilogram.
Required:
What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,800 helmets?
What is the standard materials cost allowed (SQSP) to make 3,800 helmets?
What is the materials spending variance?
What are the materials price variance and the materials quantity variance?
Note: 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.
\table[[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,,]]
image text in transcribed

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

Advanced Accounting

Authors: Susan Hamlen

5th Edition

1618534246, 9781618534248

More Books

Students also viewed these Accounting questions

Question

9.7 List and briefly discuss four management development methods.

Answered: 1 week ago