Give two reasons why actual prices might differ from standard prices, resulting in a direct materials price
Question:
Give two reasons why actual prices might differ from standard prices, resulting in a direct materials price variance.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
A difference in the quality of materials purchased will lik...View the full answer
Answered By
Rinki Devi
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions.
Hi there! Are you looking for a committed, reliable, and enthusiastic tutor? Well, teaching and learning are more of a second nature to me, having been raised by parents who are both teachers. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students.
I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and helped them achieve great subject knowledge.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Give two reasons why actual materials usage might differ from standard materials usage, resulting in a direct materials quantity variance.
-
Give two reasons why actual labor hours might differ from standard labor hours, resulting in a direct labor efficiency variance.
-
Give two reasons why actual labor rates might differ from standard labor rates, resulting in a direct labor rate variance.
-
(a) Let k be any real number and a < 1. Show that the function (1+x)k has the following power series representation (1 + x) = (h)a = 1+ kx + ? -x + k(k-1) 2! n=0 The above series is called the...
-
If X is a Geometric random variable with parameter p (in other words, P(X = x) = px(x) = (1- p)x-lp For x = 1, 2, 3,..., and pX(x) = 0 otherwise), then find the moment generating function of X.
-
Consider a normal distribution with mean 5 and standard deviation 2. a. Sketch the associated normal curve. b. Use the footnote on page 244 to write the equation of the associated normal curve. c....
-
Gold-on-gold nuclear collisions at the Relativistic Heavy Ion Collider (RHIC) at the Brookhaven National Laboratory create a quark-gluon plasma with an energy density of about \(4 \mathrm{GeV} /...
-
Irene Watts and John Lyon are forming a partnership to which Watts will devote one- half time and Lyon will devote full time. They have discussed the following alternative plans for sharing income...
-
Why would you perform a silent installation? What is the purpose of a password complexity policy? Oracle offers a free download of all editions of the Oracle Database. How does the company derive...
-
"This is your lucky day. You have just won a $20,000 prize. You are setting aside $8,000 for taxes and partying expenses, but you have decided to invest the other $12,000. Upon hearing this news, two...
-
Why would a company show a variable overhead efficiency variance?
-
Define the standard quantity allowed.
-
You have just graduated from high school and have found out about an opening for a summer job as an accounting clerk for a popular family-owned restaurant. Using the six components of personal...
-
Beer Company uses the allowance method to account for uncollectible accounts. On January 1, the allowance for doubtful accounts had a credit balance of $2,000. The balance in the accounts receivable...
-
. The inventory records of Liz Corporation reflected the following information for the month of August: Date Transaction Number of Units Unit Cost 8/1 Beginning inventory 400 $10 8/3 Purchase No. 1...
-
Source: The Colonial Origins of Comparative Development: An Empirical Investigation by Daron Acemoglu, Simon Johnson, James A. Robinson https://www.aeaweb.org/articles?id=10.1257/aer.91.5.1369 1.As...
-
Draft a full analysis of the rhetorical efficacy of this speech. When writing a rhetorical analysis, you are Not saying whether or not you agree with the argument. Instead, you're discussing how the...
-
Listen to the podcast on Foreign Direct Investments:https://siteselectorsguild.com/podcast/episode-43-the-macro-factors-driving-foreign-direct-investment-trends/ (Based on the podcase and the week's...
-
(a) Use a graphing calculator or computer graphing program to plot y versus x for the function y(x, t) = (5.0 cm) [sin (kx (t) + sin (kx + (t)] For the times t = 0, 1.0 s, and 2.0 s. Use the values...
-
What are some of the various ways to implement an awareness program?
-
Ellix Company manufactures two models of ultra-high fidelity speakers, the X200 model and the X99 model. Data regarding the two products follow: Additional information about the company follows: a....
-
What is a budget? What is budgetary control?
-
What is a budget? What is budgetary control?
-
A contribution income statement for the Nantucket Inn is shown below. ( Ignore income taxes. ) Revenue $ 5 3 6 , 0 0 0 Less: Variable expenses 3 2 1 , 6 0 0 Contribution margin $ 2 1 4 , 4 0 0 0...
-
Weston Products manufactures an industrial cleaning compound that goes through three processing departments Grinding , Mixing, and Cooking. All raw materials are introduced at the start of work in...
-
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $ 7 0 . Budgeted unit sales for June, July,...
Study smarter with the SolutionInn App