Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please provide the calaulation process. Thank you Fantastic Feeder Products Inc. manufactures high-quality wooden cutting boards sold to restaurants and gourmet home cooks. One of

image text in transcribedimage text in transcribed

please provide the calaulation process. Thank you

Fantastic Feeder Products Inc. manufactures high-quality wooden cutting boards sold to restaurants and gourmet home cooks. One of these boards, the CertiPro II, requires an expensive hardwood. During a recent month, the company manufactured 1,200 CertiPro Il cutting boards using 540 metres of hardwood. The hardwood cost the company $2,970. The company's standards for one CertiPro II cutting board are 0.4 metres of hardwood, at a cost of $5.00 per metre. Required: 1-a. What cost for wood should have been incurred to make 1,200 CertiPro Il cutting boards? Total standard cost 1-b. How much greater or less is this than the cost that was incurred? (Indicate the effect of variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) Total variance 2. Break down the difference computed in requirement 1-b above into a materials price variance and a materials quantity variance. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) Price variance 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

Forensic Accounting And Financial Statement Fraud Forensic Accounting Performance

Authors: Zabihollah Rezaee

1st Edition

1949991075, 978-1949991079

More Books

Students also viewed these Accounting questions

Question

Solve. 4x X-5 0 The solution set is

Answered: 1 week ago

Question

5-8 What are the advantages and disadvantages of the BYOD movement?

Answered: 1 week ago