Question: 1 The direct materials usage (quantity) variance, to the nearest dollar 2 The actual cost of the direct materials purchased and direct materials used during

1 The direct materials usage (quantity) variance, to the nearest dollar 2 The actual cost of the direct materials purchased and direct materials used during the period (Hint these tw Round answer to nearest dollar 3 The direct materials price variance, to nearest dollar 4 The correct summary journal entry to record direct material costs for this period's production, including assoc variances

Step by Step Solution

★★★★★

3.48 Rating (164 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Material price variance SP APAH 45 435 17300 2595 F Material ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

The direct materials usage variance is always the responsibility of the production supervisor. Do you agree or disagree? Why?

Enviro Company issues 8%, 10-year bonds with a par value of $290,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price...

Direct material variancessolving for price and usage variances. Fiberworks Company is a manufacturer of fiberglass toy boats. The company has recently implemented a standard cost system and has...

Create an Excel spreadsheet to record, in proper form, the journal entries for each of the following events and transactions. a. Purchased, on open account, 4,000 pounds of direct materials at a...

Refer to the data in 15-23. Provide the correct summary journal entries for actual and applied overhead costs (both variable and fixed) for the year. Assume that the company uses a single account,...

Dahls Treats makes institutional cakes. Finished cakes must pass through two departments: Mixing and Baking. Vats of cake batter are processed in the Mixing Department and then transferred to the...

Thompson Tools produces dampers in a continuous process through two departments: Assembly and Packaging. All direct materials are added at the beginning of the process in the Assembly Department,...

The accountants for Polyglaze, Inc., have developed the following information regarding the standard cost and the actual cost of a product manufactured in June: Instructions a. Compute the materials...

Samson Company manufactures embroidered jackets. The company uses a standard cost system to control manufacturing costs. The following data represent the standard unit cost of a jacket: Fixed...

Myer's Treats makes institutional cakes. Finished cakes must pass through two departments: Mixing and Baking. Vats of cake batter are processed in the Mixing Department and then transferred to the...

5 Pre-Built Problems Northwood Company manufactures basketballs. The company has a ball that sells for $25. At present, the ball is manufactured in a small plant that relies heavily on direct labor...

Calculate the power delivered by the turbine per unit mass of airflow when the heat transfer in the heat exchanger is zero. Then, how does the power depend on the heat transfer through the exchanger...

Using the information in the following table, calculate the marginal revenue product (MRP = MPP MR). Unit of Resources Total Resource Output Price Price 1 10 $5 $10 2 25 $5 $10 345 35 $5 $10 40 $5...

Which country has the absolute advantage in computer production? Use the following table: Amount of Beef or Computers Produced by One Worker in a Day Canada Beef Computers Japan 8 5 3 4

Which country has the comparative advantage in computer production? Use the following table: Amount of Beef or Computers Produced by One Worker in a Day Canada Beef Computers Japan 8 5 3 4

A metal sphere is grounded and an electrically charged rod is held close to it. The sphere acquires a charge $q$. The grounding wire is removed, and the sphere is brought in contact with another...

Save LOIEVOIR. Chapter 13 Homework SP 2020 Score: 0 of 2 pts

Planning: Creating an Audience Profile; Collaboration: Team Projects. Compare the Facebook pages of three companies in the same industry. Analyze the content on all available tabs. What can you...

What is the purpose of assigning facility costs to value streams, using a fixed price?

Truman Industries is a vertically integrated firm with several divisions that operate as decentralized profit centers. Trumans Systems Division manufactures scientific instruments and uses the...

Peter Hennings, manager of the Cosmetics Division, had asked Laura Gibson, divisional controller and CMA, to meet with him regarding a recent analysis of a capital budgeting proposal. Peter was...

=+b. What is the probability that at least 1 of 25 points on a control chart signals a problem with a manufacturing process when in fact the process is running correctly?

=+a 5% detection rate for noncarriers. Suppose that the diagnostic test is applied independently to two different samples from the same randomly selected individual.

=+that it is not operating correctly. However, even when a process is running correctly, there is a small probability, say, 1%, that a charted point will mistakenly signal that there is a problem...