At Frigicor, the standard price for the M640 electrical relay (a component used in the production of
Question:
At Frigicor, the standard price for the M640 electrical relay (a component used in the production of a commercial refrigeration unit) is $65. Standards call for two relays per unit of finished product. In July, the company purchased 120 relays for $7,560. The Company used 104 relays in the production of 50 refrigeration units (4 relays were damaged in the installation process).
Required
Calculate the material price variance and the material quantity variance related to the M640 electrical relay. Indicate whether the variances are favorable or unfavorable.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (14 reviews)
Material Price Variance AP SP AQ P 63 65 ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Manufacturing produces a component used in its production of washing machines. The time to set up and produce a batch of the components is two days. The average daily usage is 800 components, and the...
-
Process costing is being used in the production of mass-produced household goods At the beginning of Year One the company has 30,000 units that are 80% complete as to materials but only 30% complete...
-
Determine whether the profitability trends are favorable or unfavorable and explain your rationale.
-
You are the president of a new, capital-rich firm and you must decide on your firm's targeting approach. Three large subgroups exist in your market that have never had their unique needs served. If...
-
The state of Michigan is considering a bill that would ban the use of road salt on highways and bridges during icy conditions. Road salt is known to be toxic, costly, corrosive, and caustic. Chevron...
-
Ethan Allen Interiors Inc. is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Ethan Allens September 30, 2013, trial balance....
-
What are the key macroeconomic objectives of government? Are there likely to be any conflicts between them?
-
Journalize the following transactions for Santa Fe Art Gift Shop. Explanations are not required. Feb. 3 Purchased $2,800 of merchandise inventory on account under terms 3/10, n/EOM and FOB shipping...
-
Solve 27. f(x) = x1/3 9(x) = 8x f(g(x)) = 28. f(x) = x5 g(x) = x 4/5 g(f(x)) = f(g(2)) =
-
1. What did Mary's autocorrelation analysis show? 2. Fit an appropriate smoothing procedure to Mary's data, examine the residual autocorrelations, and generate forecasts for the remainder of...
-
Conduct an Internet search for standard cost and variance analysis. Required What are some of the objections to standard costs and variance analysis, especially overhead volume variances?
-
At Frigicor, the standard quantity of labor is 20 hours per refrigeration unit. The standard wage rate is $25.In July, the company produced 50 refrigeration units and incurred 1,100 labor hours at a...
-
How would your answer to the previous question change if you were short futures instead? Previous question If you are long futures and long a straddle, what is your view on direction? On volatility?
-
You would like to spend $225,000 to purchase a boat twenty years from now. How much must you deposit as a lump sum today to achieve this goal at an annual interest rate of 5 percent?
-
13) When total utility is at a maximum A) marginal utility is zero. Quantity (slices of pizza) B) marginal utility is equal to total utility. A) obtains greater amounts of marginal utility. B) has...
-
Scenario 5.3: Wanting to invest in the computer games industry, you select Whizbo, Yowzo and Zowiebo as the three best firms. Over the past 10 years, the three firms have had good years and bad...
-
1 5 5 7 3 9 0 1 2 3 4 15 16 17 18 19 20 21 22 23 24 25 26 27 Question 7 Input Area: Contracts Premium Strike price Stock price Stock price Output Area: If stock price is Profit(loss) If stock price...
-
2. Calculate the total energy E (MeV), kinetic energy T (MeV), Lorentz factor & and y, and velocity (m/s) for the following particles with momentum: a) 5 MeV/c proton b) 5 MeV/c electron c) 5 MeV/c...
-
Calculate the higher derivative. d dt cos t
-
What types of inventory issues Starbucks might reflect upon at the end of each year? The mission of Starbucks is to inspire and nurture the human spiritone person, one cup, and one neighborhood at a...
-
Briefly explain the following statement: Although long-term bonds are heavily exposed to interest rate risk, short-term T-bills are heavily exposed to reinvestment rate risk. The maturity risk...
-
The materials price variance can be computed at what two different points in time? Which point is better? Why?
-
If the materials price variance is favorable but the materials quantity variance is unfavorable, what might this indicate?
-
If the materials price variance is favorable but the materials quantity variance is unfavorable, what might this indicate?
-
I. For each of the following functions, do the following: a. Determine if f is continuous at a. b. Determine if f is differentiable at a. 1. 5-6x if x3 f(x)=-4-x ifx>3 ; a=3 4. f(x)= x-9 if x <3 ;a=3...
-
Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next month's budget appear below: Selling price per unit Variable expense per unit Fixed expense per...
-
Consider the simplest complex constellations of 8-PSK and 16-PSK which sends symbols along both the I and Q components, as shown in Fig. 1. Let E denote the average transmit power, and 2 the variance...
Study smarter with the SolutionInn App