Cumulonimbus Lid operates a standard costing system. The standard direct materials to produce 600 units of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Cumulonimbus Lid operates a standard costing system. The standard direct materials to produce 600 units of output is as follows Material Grade Input quantity (titres) Standard price per litre(€) P G 11 E F G 200 H 300 120 180 During December 2021 the actual output of the product was 10,500 units. The actual Materials issued to production were: Material Grade Quantity (litres) i. Planning Variance 2,000 ii. Goal Congruence 5,000 iii. Sub-Optimality 2,000 1.10 3.000 0.55 1.20 1.50 You are required to: a. Calculate the material mix and yield variance for each material and in total. Comment on the figures calculated. VW b. Explain briefly, with examples, your understanding of the following terms: www S Offe Cumulonimbus Lid operates a standard costing system. The standard direct materials to produce 600 units of output is as follows Material Grade Input quantity (titres) Standard price per litre(€) P G 11 E F G 200 H 300 120 180 During December 2021 the actual output of the product was 10,500 units. The actual Materials issued to production were: Material Grade Quantity (litres) i. Planning Variance 2,000 ii. Goal Congruence 5,000 iii. Sub-Optimality 2,000 1.10 3.000 0.55 1.20 1.50 You are required to: a. Calculate the material mix and yield variance for each material and in total. Comment on the figures calculated. VW b. Explain briefly, with examples, your understanding of the following terms: www S Offe
Expert Answer:
Answer rating: 100% (QA)
Final Answers Answer Standard Quantity a 200600 10500 300600 10500 120600 10500 b 3500 Standard pric... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
A company operates a standard costing system and prepares monthly financial statements. All materials purchased during February were used during that month. After all transactions for February were...
-
The Sussiny Corporation uses a standard costing system in its process cost facility, which manufactures a product called Wikum. Material A is added at the beginning of the process and Material B is...
-
The Quality Cabinet Company uses a standard costing system and produced 2,000 cabinets during May. The standard cost of wood is $22 per linear foot, and the standard quantity for each cabinet is 27...
-
How many of the following could be valid JDBC URL formats for an imaginary driver named magic and a database named box? A. Only first B. Only second C. Only third D. first and second E. first and...
-
The president of Pratt Company is puzzled. During the last year, the company experienced a net loss of $800,000, yet its cash increased $300,000 during the same period of time. Explain to the...
-
Solve y(4) + 2y(3) + 3y" + 2y' + y = 0. First show that the auxiliary equation is (r2 + r + 1)2 = 0?
-
IAS 1 Presentation of Financial Statements requires the publication of a statement of recognised income and expense or a statement of changes in equity. Explain the need for the publishing of these...
-
A circular loop of wire can be used as a radio antenna. If a 18.0-cm-diameter antenna is located 2.50 km from a 95.0-MHz source with a total power of 55.0 kW, what is the maximum emf induced in the...
-
are you comfortable le with contract interpretation if so why what is the meaning and understanding of contract interpretation
-
Westley Fong, manager of The Lucky 88 Motel, has a contract with Appraisers Associates to appraise his 150-room motel, which is located in beautiful downtown Wahiawa. The consultant on the job has...
-
Asana this is tool they used Share your thoughts on what your peer created and the tool they used. Have you used this tool before? How could you use this tool? How else could they use this tool in...
-
Emilia estimates inflation will be 3% annually and expects a 5.0% rate of return on investments post retirement and 7.0% rate of return pre-retirement. She wants to make sure she does not outlive her...
-
Analyze the rationale for health insurance expansion. Include how health insurance expansion relates to the problem of adverse selection. Evaluate economic implications of health insurance expansion...
-
Scott works in a factory sorting packages on a roller-belt conveyor system. Feeling a bit impatient, he helps move a 14.1- kg package along by pushing it over a distance of 3.6 m with a constant...
-
An annual coupon bond has coupon payment = $500, YTM = 8%, and maturity = 5 years.If the price ofthe bond is $9,400, what must be the face value?
-
A car goes 5.0 km [E], 3.0 km [S], 2.0 km [W] and 1.0 km [N]. (a) Determine how far North and how far East it has been displaced. (b) Find the displacement vector algebraically (no scale diagrams).
-
Exercise 7-8 (Static) Computing and Interpreting Activity Rates (LO7-3) The operations vice president of Security Home Bank has been interested in investigating the efficiency of the bank's...
-
Give codons for the following amino acids: (a) Th (b) Asp (c) Thr
-
Frankton Company records incoming materials at invoice price less cash discounts plus applied receiving and handling cost. For product Gamma, the following data are available: The purchasing budget...
-
In planning its budget for the coming year, the controller of the Warrenburg Corporation obtained the following data concerning sales for one of the company's products for the most recent 60 months:...
-
The Kalman Company, a subsidiary of the Camper Corporation, submits interim financial statements. Camper combines these statements with similar statements from other subsidiaries to prepare its...
-
Company Z (a successful efforts company) owns 100% WI in a lease in which Dudley Smith owns a 1/8 royalty interest. Company Z conveys to Company Q 30% of the working interest in exchange for a cash...
-
Company Z owns a 100% WI in a proved property with net capitalized costs of \($100,000\). Company Z sold the lease for \($250,000\) cash and a production payment of \($150,000\), plus interest of 10%...
-
Lomax Company assigned 40% of the working interest in an unproved property with a 1/8 royalty interest to Mabel Company in return for Mabel Company bearing all costs of drilling, developing, and...
Study smarter with the SolutionInn App