Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rooney Fruit Drink Company planned to make 1 9 1 , 0 0 0 containers of apple juice. It expected to use two cups of

Rooney Fruit Drink Company planned to make 191,000 containers of apple juice. It expected to use two cups of frozen apple
concentrate to make each container of juice, thus using 382,000 cups of frozen concentrate. The standard price of one cup of apple
concentrate is $0.24. Rooney actually paid $105,235 to purchase 389,760 cups of concentrate, which was used to make 192,000
containers of apple juice.
Required:
b. Compute the actual price per cup of concentrate.
Note: Round your answer to 2 decimal places.
c. Compute the standard quantity (number of cups of concentrate) required to produce the containers.
d. Compute the materials price variance and indicate whether it is favorable (F) or unfavorable (U).
Note: Select "None" if there is no effect (i.e., zero variance). Round "Price variance" to 2 decimal places.
e. Compute the materials usage variance and indicate whether it is favorable (F) or unfavorable (U).
Note: Select "None" if there is no effect (i.e., zero variance). Round "Usage variance" to 2 decimal places.
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

Frank Woods Business Accounting Volume 1

Authors: Alan Sangster, Frank Wood

13th Edition

1292084669, 9781292084664

More Books

Students also viewed these Accounting questions

Question

Should the organization resist or encourage such activities? lop589

Answered: 1 week ago