Alvarado Company produces a product that requires 3.0 standard pounds per unit. The standard price is $6.00

Question:

Alvarado Company produces a product that requires 3.0 standard pounds per unit. The standard price is $6.00 per pound. If 8,000 units used 23,900 pounds, which were purchased at $6.20 per pound, what is the direct materials

(a) Price variance,

(b) Quantity variance, and

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Financial And Managerial Accounting

ISBN: 9780357714041

16th Edition

Authors: Carl S. Warren, Jefferson P. Jones, William Tayler

See More Books

Question Posted: Dec 12, 2022 04:34 AM

See More Questions

Alvarado Company produces a product that requires 7.5 standard direct labor hours per unit at a standard hourly rate of $22.50 per hour. If 8,000 units used 60,200 hours at an hourly rate of $21.95...
Primm Company produces a product that requires three standard hours per unit at a standard hourly rate of $20 per hour. If 2,500 units required 7,900 hours at an hourly rate of $21.50 per hour, what...
Alvarado Company produced 8,000 units that require 3.0 standard pounds per unit at a $6.00 standard price per pound. The company actually used 23,900 pounds in production. Journalize the entry to...
What are the explanations given for slow progress towards full acceptance of ISAs?
List techniques for writing effective persuasion that should be applied in application messages. Refer to Chapter 8 for ideas if necessary.
Using the payroll register from P7-1B for Appalachian Limited Home Design, complete the General Journal entry for the employees pay for the March 11, 2022, payroll end date. Employees paychecks will...
On October 1, 2017, Gordon borrows $$150$,000 cash from a bank by signing a three-year installment note bearing 10% interest. The note requires equal payments of $$60$,316 each year on September...
Operating Transactions, Special Topics, and Financial Statements. The City of Ashland's General Fund had the following post-closing trial balance at April 30, 2010, the end of its fiscal year: During...
You are director of HRM (international) for an international firm operating mainly in Africa. The business strategy is to expand operations into the Far East, starting in Malaysia. A number of...
John and Martha Holloway are married filing jointly. They are 35 and 31 years old, respectively. Their address is 10010 Dove Street, Atlanta, GA 30294. Additional information about Mr. and Mrs....
Although purchasing agents may be able to control the timing of when they make purchases, they cannot control changes in exchange rates. Thus, it would not be appropriate to hold the purchasing agent...
Lanier Bottle Company manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: At the beginning of January, Lanier Bottles...
Bombarding U-238 with a hydrogen-2 nucleus produces a radioactive nuclide, a beta particle, and two neutrons. Identify the radionuclide.
Suppose you need to borrow money. Bank X charges 10.000% compounded monthly on its loans; Bank Y charges 10.300% semiannually; Bank Z charges 10.550% compounded annually. Which bank is best for you?
Built Right Bike Company (BRBC) is an established manufacturer of quality bicycles. They manufacture three styles of bicycles. Bicycle A is a popular racing bicycle primarily sold to dealers in the...
Sarah and Jason Worzala were married a year ago, and they are thinking about buying a home. They have saved $14,000 to put toward the down payment, but they are wondering if they should pay off some...
Your firm has an average receipt size of $130. A bank has approached you concerning a lockbox service that will decrease your total collection time by two days. You typically receive 6,600 checks per...
1. Under John Locke's point of view, does government have the right to tax people? Where does this right of government come from? 2. What can officers of the military do and not do to a soldier under...
Consider the equation s3 + 9s2 + (8 + K)s + 2 K = 0 a. Use MATLAB to obtain the value of K required to put the dominant root at the breakaway point. Obtain the three roots corresponding to this value...
Use multiplication or division of power series to find the first three nonzero terms in the Maclaurin series for each function. y = e x2 cos x
The following data relate to labor cost for production of 5,500 cellular telephones: Actual: Standard 3,450 hrs.at $16.40 3,390 hrs. at $16.70 $56,580 $56,613
Provence Bicycle Company manufactures road bikes. The following data for September of the current year are available: Quantity of direct labor used ...... 650 hrs. Actual rate for direct labor...
The New Day Clothes Company produced 18,000 units during June of current year. The Cutting Department used 3,500 direct labor hours at an actual rate of $ 11.80 pre hour. The Sewing Department used...
Stanford owns and operates two dry cleaning businesses. He travels to Boston to discuss acquiring a restaurant. Later in the month, he travels to New York to discuss acquiring a bakery. Stanford does...
Once you have completed the assignment below, you must submit your answers using the answer sheet provided in Canvas; not all answers will be turned in. Once submitted, your answers cannot be...
Variable Overhead Variances Assume that the best cost driver that Sony has for variable factory overhead in the assembly department is machine hours. During April, the company budgeted 690,000...

Alvarado Company produces a product that requires 3.0 standard pounds per unit. The standard price is $6.00

Question:

Step by Step Answer:

a b c Direct ma...View the full answer

Financial And Managerial Accounting

Students also viewed these Business questions