Question
Please help me solve these 2 questions before 11:59pm on the 5th please and thank you! If you could please explain or show how you
Please help me solve these 2 questions before 11:59pm on the 5th please and thank you! If you could please explain or show how you solved the problems that would be amazing! Thank you!!
1) Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the companys products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,600 helmets, using 2,232 kilograms of plastic. The plastic cost the company $16,963.
According to the standard cost card, each helmet should require 0.53 kilograms of plastic, at a cost of $8.00 per kilogram.
a. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,600 helmets?
b. What is the standard materials cost allowed (SQ SP) to make 3,600 helmets?
c. What is the materials spending variance?
d. 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.)
2) Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,200 pounds of oysters in August. The companys flexible budget for August appears below:
Quilcene Oysteria | |
Flexible Budget | |
For the Month Ended August 31 | |
Actual pounds (q) | 7,200 |
---|---|
Revenue ($4.15q) | $ 29,880 |
Expenses: | |
Packing supplies ($0.25q) | 1,800 |
Oyster bed maintenance ($3,400) | 3,400 |
Wages and salaries ($2,000 + $0.45q) | 5,240 |
Shipping ($0.70q) | 5,040 |
Utilities ($1,300) | 1,300 |
Other ($510 + $0.01q) | 582 |
Total expense | 17,362 |
Net operating income | $ 12,518 |
The actual results for August appear below:
Quilcene Oysteria | |
Income Statement | |
For the Month Ended August 31 | |
Actual pounds | 7,200 |
---|---|
Revenue | $ 26,700 |
Expenses: | |
Packing supplies | 1,970 |
Oyster bed maintenance | 3,260 |
Wages and salaries | 5,650 |
Shipping | 4,770 |
Utilities | 1,110 |
Other | 1,202 |
Total expense | 17,962 |
Net operating income | $ 8,738 |
Calculate the companys revenue and spending variances for August. (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.)
Revenue ____ _____
expenses:
Packing supplies ___ ______
Oyster bed maintence ____ ____
Wages and salaries ____ _____
Shipping ____ _______
Utilties ______ _______
Other _____ _____
Total expense _____ _______
Net operating income _______ ______
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