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 3,200 helmets, using 2,464 kilograms of plastic. The plastic cost the company $16,262. According to the standard cost card, each helmet should require 0.68 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. According to the standards, what cost for plastic should have been incurred to make 3,200 helmets? How much greater or less is this than the cost that was incurred? (Round Standard kilograms of plastic per helmet to 2 decimal places.) Number of helmets Standard kilograms of plastic per helmet Total standard kilograms allowed Standard cost per kilogram Total standard cost Actual cost incurred Total standard cost Total material variance-unfavourable $ 3,200 0 2. Break down the difference computed in (1) above into a materials price variance and a materials quantity variance. (Round your actual materials price to two decimal places, and round your final answers to the nearest whole dollar. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Materials price variance Materials quantity variance 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 3,200 helmets, using 2,464 kilograms of plastic. The plastic cost the company $16,262. According to the standard cost card, each helmet should require 0.68 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. According to the standards, what cost for plastic should have been incurred to make 3,200 helmets? How much greater or less is this than the cost that was incurred? (Round Standard kilograms of plastic per helmet to 2 decimal places.) Number of helmets Standard kilograms of plastic per helmet Total standard kilograms allowed Standard cost per kilogram Total standard cost Actual cost incurred Total standard cost Total material variance-unfavourable $ 3,200 0 2. Break down the difference computed in (1) above into a materials price variance and a materials quantity variance. (Round your actual materials price to two decimal places, and round your final answers to the nearest whole dollar. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Materials price variance Materials quantity variance
Expert Answer:
Answer rating: 100% (QA)
Q 1 According to the standards what cost for plastic should have been incurred to make 3200 helmets ... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
Students also viewed these accounting questions
-
1/9 of the shirts sold at David's shop are striped. 5/8 of the remainder are printed. The rest of the shirts are plain colored shirts. If Peter's shop has 81 plain colored shirts, how many striped...
-
Identify the type of accounts that would appear on a firms income statement?
-
The mean cost of a five pound bag of shrimp is 42 dollars with a variance of 49. If a sample of 54 bags of shrimp is randomly selected, what is the probability that the sample mean would differ from...
-
Show that 1. Every differentiable concave function is pseudoconcave. 2. Every pseudoconcave function is quasiconcave
-
Describe the qualitative factors that Miko should consider before accepting the special order described in Exercise 6-7A. In Exercise 6-7A, Miko Company manufactures a personal computer designed for...
-
Sarah is a certified public accountant in State Y, a small northeastern state. She is also a member of the AICPA. Practicing in a small town, Sarah has always been generous with her time. She rarely...
-
Russell Freightway provides freight service. The companys balance sheet includes Land, Buildings, and Motor-Carrier Equipment. Russell uses a separate accumulated depreciation account for each...
-
Refer to RE19-1. Assume that Frankfort's taxable income for Year 1 is $300,000. Prepare the journal entry to record Frankfort Company's income tax expense. In RE19-1, Frankfort Company identifies...
-
Looking for cost savings in administrative areas, the vice-president for human resources at McMahon Corporation asked his assistant to collect data on the employee cafeterias in the four McMahon...
-
A financial engineer designs a new financial instrument that he calls, the Simplex. This instrument gives the holder access to the following cashflows: For the first 6 years, the holder receives...
-
Create a scatterplot showing the returns for Power Electric Industries and Riviera Power Inc. on the vertical axis and the returns for Nature Energy Corp. on the horizontal axis. Power Electric...
-
What do we call the positive or negative relations between a companys workers and its management?
-
What might an expatriate manager receive for working in a country with particularly difficult living conditions that are significantly below those in the home country?
-
What do we call the financial cost of maintaining a certain standard of living in a specific location?
-
What is a good source of cultural information once a manager is already inside a country?
-
How does globalization influence the institutions and economies of nations?
-
respond to NACL A NACL can be understood as the firewall or protection for the subnet. Considered to be the second layer of defence, which helps protect AWS stack. Controls traffic to or from a...
-
Record the following selected transactions for March in a two-column journal, identifying each entry by letter: (a) Received $10,000 from Shirley Knowles, owner. (b) Purchased equipment for $35,000,...
-
How does a flexible budget based on two cost drivers differ from a flexible budget based on a single cost driver?
-
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Actual manufacturing overhead costs incurred: Indirect materials...
-
Refer to the data for the Blending Department of Sunspots Beverages, Ltd., in Problem 4-15. Assume that the company uses the FIFO method in its process costing system. Data in problem 4-15, Required:...
-
Can we use the numerical integration methods discussed in this chapter to solve nonlinear vibration problems?
-
Houbolt method a. Assumes that acceleration varies linearly between \(t_{i}\) and \(t_{i}+\theta \Delta t ; \theta \geq 1\) b. Assumes that acceleration varies linearly between \(t_{i}\) and...
-
Express the following \(n\) th-order differential equation as a system of \(n\) first-order differential equations: \[a_{n} \frac{d^{n} x}{d t^{n}}+a_{n-1} \frac{d^{n-1} x}{d t^{n-1}}+\cdots+a_{1}...
Study smarter with the SolutionInn App