Explain why the direct materials price variance is often computed at the point of purchase rather than
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
The materials price variance is often computed at the point of purchas...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Cost Management Accounting and Control
ISBN: 978-0324559675
6th Edition
Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan
Question Posted:
Students also viewed these Managerial Accounting questions
-
Explain why the materials price variance is often computed at the point of purchase rather than at the point of issuance.
-
Suppose the direct materials price variance is large and favorable, and the direct materials efficiency variance is large and unfavorable. What questions would you be likely to ask when investigating...
-
1. In a standard cost system, materials price variance is obtained by multiplying the A) Actual quantity purchased by the difference between actual price and standard price. B) Standard price by the...
-
Factors that affect the selection of an inventory costing method do not include: (a) tax effects. (b) balance sheet effects. (c) income statement effects. (d) perpetual vs. periodic inventory system.
-
Discuss the general cost recovery method for farming assets?
-
Assume a particle is located at the surface of the Sun. (a) If the particle has mass \(m\), how fast must it be moving away from the Sun's center of mass to escape the gravitational influence of the...
-
An observatory has a telescope that requires an initial investment of $\$ 25,000$. A benefactor will provide a $\$ 7,500$ gift every 5 years as long as the university makes the telescope available to...
-
For the following project, 3 sections are expected every week. Each week is 5 working days with 8 hours a day. Find the value of X1? Find the value of X2? Find the value of X3? Find the value of X4?...
-
On January 13, 2023, Jason, a cash basis taxpayer, was one of 3 winners of a $1.6 billion Powerball jackpot. Jason had the option to receive a one-time cash payment of $327.8 million or 30 annual...
-
As your venture has moved from the development stage to the startup stage, a number of trade secrets have been developed along with an extensive client list. You are in the business of developing and...
-
The budget variance for variable production costs is broken down into quantity and price variances. Explain why the quantity variance is more useful for control purposes than the price variance....
-
The direct materials usage variance is always the responsibility of the production supervisor. Do you agree or disagree? Why?
-
Write the expression in standard form. 5-i
-
3. Explain how a franchise business model works, and discuss its advantages and disadvantages for a company like Domino's who is trying to pursue a new international market. a) How does Franchising...
-
3. Anne is studying for a course that will give her a high income in the future. She has no money at present, but she knows that when she completes the course she will have 360 (special money, do not...
-
You are wanting to buy a home that costs $225,000 in a small city in the U.S. You are a young first time home owner who has been 2 years in your job and will probably be transferred in the next 3...
-
Suppose that two countries, initially in autarchy, decide to create a single market for only one product. Demand for this product is given by Q(p) = 21 - p in country 1, and by Q(p) = 42-2p in...
-
(b) A country exports three goods, wheat W, coal C and palm oil 0. At time t = to, the revenue in crores of rupees derived from each of these goods is W(t) = 4, C(t) = 10 and 0(t) = 7. W is declining...
-
One student of the labor market effects of free trade argues that the government should offer wage insurance to workers who lose a job because of free trade. Under this proposal, the government would...
-
Danielle has an insurance policy with a premium of $75 per month. In September she is in an accident and receives a bill worth $2990 for the repair of her own property. Her deductible is $250 and her...
-
Let Z n be a Poisson r.v. with parameter equal to an integer n. Show that Z n may be represented as Y 1 +...+Y n , where the Ys are independent Poisson r.v.s with parameter = 1.
-
Wayne Kaegi's Verde Vineyards in Oakville, California, produces three varieties of wine: Merlot, Viognier, and Pinot Noir. His winemaster, Russel Hansen, has identified the following activities as...
-
Mallory Luongo, Inc. manufactures five models of kitchen appliances at its Mesa plant. The company is installing activity-based costing and has identified the following activities performed at its...
-
Sorce Instrument, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 50 range instruments and 300 pressure gauges were produced, and overhead costs of...
-
sked byChina699 BEMIDJI STATE UNIVERSITY Department of Technology, Art & Design TADT 3217 : Materials Science & Metallurgy Hardness Testing [A continued look at the Heat Treatment of Steel] ...
-
1. Advocate Aurora Sheboygan Memorial Hospital health care product or service to be marketed in your community. 2. Conduct appropriate market research in your community to determine the demographics...
-
How do ethical leaders integrate ethical considerations into strategic decision-making processes, balancing short-term business objectives with long-term ethical imperatives to ensure sustainable...
Study smarter with the SolutionInn App