Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Ruby Company produces a chair for which the standard specifies 7 yards of material per unit. The standard price of one yard of material is
Ruby Company produces a chair for which the standard specifies 7 yards of material per unit. The standard price of one yard of material is $10.20. During the month, 6,300 chairs were manufactured, using 43,200 yards at a cost of $10.71 per yard. Determine the following: Enter favorable variances as negative numbers. a. Direct materials price variance $ b. Direct materials quantity variance $ c. Total direct materials cost variance $ Tucker Company produced 5,100 units of product that required 3.00 standard hours per unit. The standard variable overhead cost per unit is $3.90 per hour. The actua variable factory overhead was $58,480. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number. Bottlebrush Company has operating income of $109,272, invested assets of $314,000, and sales of $910,600. Use the DuPont formula to compute the return on investment, and show (a) the profit margin, (b) the investment turnover, and (c) the return on investment. Round answers to one decimal place. a. Profit margin % b. Investment turnover c. Return on investment % The materials used by Hibiscus Company's Division A are currently purchased from an outside supplier at $53 per unit. Division B is able to supply Division A with 10,200 units at a variable cost of $47 per unit. The two divisions have recently negotiated a transfer price of $48 per unit for the 10,200 units. Enter an increase as a positive number and a decrease as a negative number. a. By how much will each division's income increase as a result of this transfer? Division A $ Division B b. What is the total increase in income for Hibiscus Company? Titus Company produced 2,900 units of a product that required 4.789 standard hours per unit. The standard fixed overhead cost per unit is $1.10 per hour at 14,000 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance. Enter a favorable variance as a negative number. Round your answer to the nearest dollar. 3
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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 Started