Question
Hohner Harmonica Co. manufactures harmonicas. One of the companys products is a blues harmonica that requires a special type of metal. During the quarter ending
Hohner Harmonica Co. manufactures harmonicas. One of the company’s products is a blues harmonica that requires a special type of metal. During the quarter ending June 30, the company manufactured 1,000 harmonicas, using 600 ounces of metal. The metal cost the company $2,400
According to the standard cost card, each harmonica should require .5 ounces of metal at a cost of $5 per harmonica.
Required: (10 points)
What is the standard quantity of metal (SQ) that is required to make 1,000 harmonicas?
What is the standard materials cost allowed (SQ x SP) to make 1,000 harmonicas?
What is the materials spending variance?
What is the materials price variance and the materials quantity variance?
Step by Step Solution
3.44 Rating (151 Votes )
There are 3 Steps involved in it
Step: 1
Requirement1 Standard Qty for actual production Actual production Standard Qty al...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0073379616, 73379611, 978-0697789938
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App