Direct Materials Variances The following data relate to the direct materials cost for the production of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Direct Materials Variances The following data relate to the direct materials cost for the production of 20,000 automobile tires: Actual: 80,000 Ibs. at $2.65 $212,000 Standard: 86,000 Ibs. at $2.50 $215,000 a. Determine the direct materials price varlance, direct materials quantity varlance, and total direct materials cost vartance, Enter favorabie variances as negative numbers. Enter unfavorable variances as positive numbers. Price variance Quantity variance Total direct materials cost variance b. The direct materials price variance should normally be reported to the The direct materials quantity variance due to a malfunction of equipment that had not been properly operated should be reported to the The total materials cost vuriance should be reported to the Direct Materials Variances The following data relate to the direct materials cost for the production of 20,000 automobile tires: Actual: 80,000 Ibs. at $2.65 $212,000 Standard: 86,000 Ibs. at $2.50 $215,000 a. Determine the direct materials price varlance, direct materials quantity varlance, and total direct materials cost vartance, Enter favorabie variances as negative numbers. Enter unfavorable variances as positive numbers. Price variance Quantity variance Total direct materials cost variance b. The direct materials price variance should normally be reported to the The direct materials quantity variance due to a malfunction of equipment that had not been properly operated should be reported to the The total materials cost vuriance should be reported to the
Expert Answer:
Related Book For
Cost Management Accounting and Control
ISBN: 978-0324559675
6th Edition
Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan
Posted Date:
Students also viewed these finance questions
-
Suppose the direct materials price variance is large and favorable, and the direct materials efficiency variance is large and unfavorable. What questions would you be likely to ask when investigating...
-
What does the direct materials price variance measure? Who is generally responsible for the direct materials price variance? Describe two situations that could result in a favourable materials price...
-
Julie is the insured on a $300,000 ordinary life insurance policy. Julie sells her life insurance policy to Ben for $20,000. Ben promptly named himself beneficiary. The policy had a cash surrender...
-
Nicks Liquidators reported 450,000 shares of common stock outstanding for the year. The company also has stock options outstanding all year that will result in 125,000 incremental shares upon...
-
(a) Show that one British horsepower (550 ft lb/s) is equal to 746 W. (b) What is the horsepower rating of a 75-W light bulb?
-
A system initially containing \(3 \mathrm{~mol} \mathrm{CO}_{2}, 5 \mathrm{~mol} \mathrm{H}_{2}\) and \(1 \mathrm{~mol} \mathrm{H}_{2} \mathrm{O}\) is undergoing the following reactions: \[...
-
Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice: a. Transferred cash from a...
-
On problems 1-2, determine whether or not the conditions of Rolle's Theorem are met. If the conditions are met, find the value of c that the theorem guarantees. 1. f(x)=x-11x+30 [5,6] 2....
-
The following trial balance of Oakley NV does not balance. Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the...
-
14. An Isocost line will be shifted further away from the origin If the prices of both inputs increase. If there is an advance in technology If total cost increases. O All the answers are correct 15....
-
Camilens S.A. manufactures two digital cameras: Focuss and Droniss. Quantity Lots Prime costs Machine hours Engineering Modifications Market Price Additional information Focus Camera Droniss Camera...
-
Liam retired as CEO of a large company on 1 July at age 6 3 with a $ 2 5 0 , 0 0 0 golden handshake. He has no other assessable income this financial year. How will this payment be taxed?
-
In your responses to your peers, represent the opposing side in the scenario selected. Remember to stick to the facts and to avoid making assumptions or generalizations. All sources, including course...
-
FM How much force (FM) must the biceps muscle exert when holding a 28 N weight in the hand with the arm horizontal, as shown in the figure? Assume that the combined weight of the forearm and hand is...
-
Instructions 1. Complete the locus of control assessment here. 2. Develop a PowerPoint that includes the following: one slide on which you introduce yourself one slide that summarizes how you are...
-
Above and Beyond the Call of Duty--Dorie Millerreceived the Navy Cross at Pearl Harbor, May 27, 1942, [PublicDomain via Wikimedia] For this discussion, review your readings for Unit 10 (pdfAmerican...
-
Choose a company from the SEC EDGAR Web site for your Key Assignment to evaluate for the impact of convergence to IFRS. Review the financial reports and notes of the company you have chosen from the...
-
Homestead Pottery, Inc., is divided into two operating divisions: pottery and retail. The company allocates power and human resources department costs to each operating division. Power costs are...
-
Define total productive efficiency.
-
For situations 1 through 6, provide the following information: a. An estimate of the non-value-added cost caused by each activity. b. The root causes of the activity cost (such as plant layout,...
-
Develop a value stream map for the process you flowcharted in question 27 to identify the valueadded and non-value-added activities. How can you estimate costs and/or revenue for the process steps?...
-
Given the information in problem 36, what do you recommend if Worthington Machining can buy folded metal panels of identical size at a price of \($27.25\) per panel? Problem 36 Worthington Machining...
-
Bluegrass Irrigation Services (BIS) in Lexington, Kentucky, provides a wide variety of services to meet customer needs. These services include installation of lawn and tree irrigation equipment for...
Study smarter with the SolutionInn App