X Question 8 QUESTION 8-FINANCE/QUALITY A company that manufactures industrial wind turbine units use EN8 mild...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
X Question 8 QUESTION 8-FINANCE/QUALITY A company that manufactures industrial wind turbine units use EN8 mild steel tubing in their production. Their production figures and customer orders suggested that 200 units would be manufactured in January, and that to do so the company would expect to use 600 metres of steel tubing. (each unit historically uses 3 metres of steel tube). Purchasing data indicates that the company would usually pay a price of £4.50 per metre for this material. a) 15 Points In February, a review of the activity in the previous month (.e. January) showed that the actual production during the month had been a total of 185 units, and that 540 metres of steel tubing had been used to do so. The material that was used in January had been purchased at a price of £4.20 per metre. Calculate the adjusted standard material quantity and standard total costs for production and the resulting material variances for this output. What do the variances indicate? (4 marks) (1 mark) Maximum 100 words X Question 8 QUESTION 8-FINANCE/QUALITY A company that manufactures industrial wind turbine units use EN8 mild steel tubing in their production. Their production figures and customer orders suggested that 200 units would be manufactured in January, and that to do so the company would expect to use 600 metres of steel tubing. (each unit historically uses 3 metres of steel tube). Purchasing data indicates that the company would usually pay a price of £4.50 per metre for this material. a) 15 Points In February, a review of the activity in the previous month (.e. January) showed that the actual production during the month had been a total of 185 units, and that 540 metres of steel tubing had been used to do so. The material that was used in January had been purchased at a price of £4.20 per metre. Calculate the adjusted standard material quantity and standard total costs for production and the resulting material variances for this output. What do the variances indicate? (4 marks) (1 mark) Maximum 100 words
Expert Answer:
Answer rating: 100% (QA)
Standard quantity for actual output 185 3 metres 555 metres Standard total costs 55545 24975 Di... View the full answer
Related Book For
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
Posted Date:
Students also viewed these accounting questions
-
You are given the following payoff table: (a) Assume that your utility function for the payoffs is U(x) = x. Plot the expected utility of each alternative versus the value of p on the same graph. For...
-
You are given the following information concerning a stock denoted by St (1) Current value =102. (2) Annual volatility = 30%. (3) You are also given the spot rate r = 50%, which is known to constant...
-
You are given the following information concerning four stocks: a) Using 20X0 as the base year, construct three aggregate measures of the market that simulate the Dow Jones Industrial Average, the...
-
Plzz solve quicklyy Determine the non-trivial root of: \[ \sin (x)=x^{2} \] Where \( \mathrm{x} \) is in radians. Use the bisection method with initial guesses of \( \mathrm{x}_{0} \mathrm{~m} 0.6 \)...
-
Suppose that two cards are dealt from a standard 52-card poker deck. Let A be the event that the sum of the two cards is 8 (assume that aces have a numerical value of 1). How many outcomes are in A?
-
Which statement is incorrect? Explain. a. Correlation uses a t-test with n 2 degrees of freedom. b. Correlation analysis assumes that X is independent and Y is dependent. c. Correlation analysis is...
-
How do you think the state level Net Neutrality regulations are going to impact ISPs?
-
Lockard Company purchased machinery on January 1, 2012, for $80,000. The machinery is estimated to have a salvage value of $8,000 after a useful life of 8 years. (a) Compute 2012 depreciation expense...
-
The following table outlines your expected probabilities of a boom, neutral, or bust economic cycle over the next year. The return for assets A and B are given for each economic state. Economic...
-
1. Bare cost and total cost (incl. O&P) of formwork for spread footings (20 pts, specify which lines (or index) in RSMeans data are used) 2. Bare cost and total cost of reinforcement for spread...
-
The manager wants to forecast the month 5's sales using the following historical data: Months Sales Month 1 20 Month 225 Month 3 32 Month 430 Please use the weight 0.4 for Month 4, weight 0.3 for...
-
How should risks be assessed and addressed in a business proposal? Explain the importance of including a risk analysis section and how to propose mitigation strategies.
-
How do telomeres and telomerase activity contribute to cellular aging, and what are the potential strategies to counteract telomere shortening ?
-
What is the significance of a cost-benefit analysis in a business proposal? Discuss how to present a clear and compelling analysis that demonstrates the value and feasibility of the proposed solution...
-
How do you develop and present a detailed implementation plan within a business proposal? Explain the components of an implementation plan, including timelines, milestones, resource allocation, and...
-
What metrics and methods should be used to evaluate the success of the initiatives proposed in a business report or proposal? Discuss how to set measurable goals and the processes for monitoring...
-
Mark is a self-employed motor mechanic who derived assessable business income of $235,000 in the current year ended 30 June. Mark incurred expenses of $220,000 in deriving this income and also...
-
White Bolder Investments (WBI) You are an intern working for WBI, a large investment advisory services in Sydney. Among other regular customers, WBI has been providing advisory services for Jumbo...
-
Joe Barnes is the owner of Standing Tall, one of the major roofing companies in town. Much of the companys business comes from building roofs on new houses. Joe has learned that general contractors...
-
Consider an infinite-period inventory problem involving a single product where, at the beginning of each period, a decision must be made about how many items to produce during that period. The setup...
-
Consider the following nonlinear programming problem. Maximize Subject to x1 + x2 ¥ 3. and x1 ¥ 0, x2 ¥ 0. Use dynamic programming to solve this problem. 36x2 32
-
With reference to Exercise 11.65, (a) find a \(99 \%\) confidence interval for the mean battery backup at \(x=1.25\); (b) find \(95 \%\) limits of prediction for the battery backup provided by a...
-
A chemical engineer found that by adding different amounts of an additive to gasoline, she could reduce the amount of nitrous oxides (NOx) coming from an automobile engine. A specified amount was...
-
With reference to Exercise 11.69, find the proportion of variance in the amount of NOx explained by the amount of additive. Data From Exercise 11.69 11.69 A chemical engineer found that by adding...
Study smarter with the SolutionInn App