Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,000 helmets, using 2,340 kilograms of plastic. The plastic cost the company $15,444. According to the standard cost card, each helmet should require 0.70 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,000 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3,000 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard quantity of kilograms allowed 2. Standard cost allowed for actual output 3. Materials spending variance 4. Materials price variance 4. Materials quantity variance D Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,000 helmets, using 2,340 kilograms of plastic. The plastic cost the company $15,444. According to the standard cost card, each helmet should require 0.70 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,000 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3,000 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard quantity of kilograms allowed 2. Standard cost allowed for actual output 3. Materials spending variance 4. Materials price variance 4. Materials quantity variance D
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
On January 1, 2011, Devco acquired cum div. all the shares of Brooke, at which date the equity and liability sections of Brookes statement of financial position showed the following balances: Share...
-
Otto Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 Established the petty cash fund by writing a check on Central Bank for...
-
What does Chebyshevs theorem state and how can it be used in practice?
-
The following cash flow information was taken from the 2015 annual report for General Electric. Compute the missing values in the table (amounts are in millions). Based on this data, describe GEs...
-
One product line has 10 turns per year and an annual sales volume (at cost) of $985,000. How much inventory is being held, on average?
-
New-car sales of a dealer during the past year are shown in the following table, along with monthly seasonal relatives. Month Units Sold Seasonal Relative Jan 710 1.12 Feb 644 1.12 Mar 674 1.00 Apr...
-
The classifier considers the text to be possibly Al- generated. Jean thank you for your post can you provide some examples of micro-targeting that you use in your profession or work?
-
What are examples of attributes of a well - crafted recommendation? A . A well - crafted recommendation clearly explains the point of view and summarizes the rational behind the point of view. B . A...
-
What was the case study about? What was good about the way the project(s) was managed? What could have been done differently and why? What did you learn from the case study? Was this case study...
-
Write three or more examples of clustering algorithm. (ex. Data analysis) : Explain about the two methods of choosing optimal number of clusters when using k-means. Describe how to find the optimal...
-
To calculate the monthly returns for IBM and Tesla from January 2014 to May 2020 using Yahoo Finance's "adjusted close" prices, we will need to follow the following steps: Go to Yahoo Finance website...
-
What is a mobile payment and how does it work? 6. Can payments be made in multiple currencies? 7. What is the difference between recurring payments and one-time payments? 8. How do payment processors...
-
Draw Curved arrow mechanism of Erythrosine with vinegar and baking soda.
-
Find the inverse, if it exists, for the matrix. -1
-
Estimate the ending inventory by the gross profit method, given the following data: beginning inventory, \(\$ 40,000\); net purchases, \(\$ 100,000\); net sales, \(\$ 112,000\); average gross profit...
-
Use your operating systems built-in capability to encrypt a file. Store the enciy'pted file in a folder that can be shared with other users on that computer. Then create a new user account. Assign it...
-
Why do companies using LIFO in a perpetual inventory system often restate their ending inventory at the per-unit costs that result from applying periodic LIFO costing procedures?
Study smarter with the SolutionInn App