a. What are the two variances between the actual cost and the standard cost for direct materials?
Question:
b. Discuss some possible causes of these variances.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (15 reviews)
a The price variance is the result of a difference between the actual price and the ...View the full answer
Answered By
William Otieno
I am a professional tutor and a writer with excellent skills that are important in serving the bloggers and other specialties that requires a great writer. The important aspects of being the best are that I have served so many clients with excellence
With excellent skills, I have acquired very many recommendations which have made it possible for me to survive as an excellent and cherished writer. Being an excellent content writer am also a reputable IT writer with essential skills that can make one turn papers into excellent result.
4.70+
83+ Reviews
354+ Question Solved
Related Book For
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Question Posted:
Students also viewed these Managerial Accounting questions
-
What are the two variances between the actual cost and the standard cost for direct materials?
-
What is an outlier? List some possible causes of outliers. How should outliers be handled in cost estimation?
-
What are the two possible modes that locks use when they fail? What implications do these modes have for human safety? In which situation is each mode preferred?
-
An object is placed on the principal axis of a concave mirror of focal length 10 cm at a distance of 80 cm from the pole. Find the position and the nature of the image.
-
Distinguish between sampling where order matters and sampling where order does not matter.
-
A large number of preventable errors (e.g., overdoses, botched operations, misdiagnoses) are being made by doctors and nurses in U.S. hospitals. A study of a major metropolitan hospital revealed that...
-
What is a benefit of k-fold cross-validation over the static holdout method? a. The k-fold cross-validation method is computationally faster. b. The k-fold cross-validation method is easier to...
-
Are t-tests or Z-tests used more often in business research? Why?
-
A ladybug starts at the center of a 12-in.-diameter turntable and crawls in a straight radial line to the edge. While this is happening, the turntable turns through a 45 angle. (a) Draw a sketch...
-
At the time he purchased his variable annuity, Ahmed directed $5,000 of his premium into Subaccount A when the unit value was $10. A year later, the unit value had increased to $15. Assuming he made...
-
How are standards used in budgetary performance evaluation?
-
The materials cost variance report for Nickols Inc. indicates a large favorable materials price variance and a significant unfavorable materials quantity variance. What might have caused these...
-
Tron Lumber prepares monthly reconciliations of the cash balance in its bank account with the cash balance on the books. An account ing clerk who does not deposit cash in the account or write checks...
-
Briefly describe the characteristics of an emotive style.
-
What are the different types of managed care plans?
-
What is the difference between net income and operating income?
-
Explain the role of survey questions, and describe the two types.
-
What is meant by the term managed care?
-
John is a teacher at a local high school. During 2017, he travels three days per week to a school in the next county to work with gifted children in an after-school program that does not end until...
-
Prove the result that the R 2 associated with a restricted least squares estimator is never larger than that associated with the unrestricted least squares estimator. Conclude that imposing...
-
Why is a binary model often considered an extension of data query?
-
The plant manager of Shenzhen Electronics Company is considering the purchase of new automated assembly equipment. The new equipment will cost $1,400,000. The manager believes that the new investment...
-
The internal rate of return method is used by Tester man Construction Co. in analyzing a capital expenditure proposal that involves an investment of $113,550 and annual net cash flows of $30,000 for...
-
Galactic Inc. is considering an investment in new equipment that will be used to manufacture a smart phone. The phone is expected to generate additional annual sales of 6,000 units at $250 per unit....
-
A project requires an initial investment of $100,000 to purchase equipment. The equipment will be depreciated on a straight-line basis over the five-year life of the project. The company expects the...
-
Vodaphone's earnings per share in 2022 was $1.80, and in 2017 it was $1.25. The company distributes 60% of its earnings as dividends, and the stock is currently valued at $37.75. The cost to issue...
-
A bond is currently selling in the market for $1,085.96. It has a coupon of 8% and a 15-year maturity. Using annual compounding, what is the yield to maturity on this bond?
Study smarter with the SolutionInn App