The standards for product C specify 2.5 feet of hardwood at a cost of 3.75 per...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The standards for product C specify 2.5 feet of hardwood at a cost of €3.75 per foot. Last month, the company manufactured 5,000 units of product C using 15,000 feet of hardwood with a total cost of €29,000. Show all relevant calculations, and give your final answer(s) in total amounts (not per unit). Discuss whether the variances are favorable or unfavorable. a) What was the materials quantity variance? b) What was the materials price variance? c) What was the spending variance? The standards for product C specify 2.5 feet of hardwood at a cost of €3.75 per foot. Last month, the company manufactured 5,000 units of product C using 15,000 feet of hardwood with a total cost of €29,000. Show all relevant calculations, and give your final answer(s) in total amounts (not per unit). Discuss whether the variances are favorable or unfavorable. a) What was the materials quantity variance? b) What was the materials price variance? c) What was the spending variance?
Expert Answer:
Answer rating: 100% (QA)
a What was the materials quantity variance Ans Material qty v... View the full answer
Related Book For
Venture capital and the finance of innovation
ISBN: 978-0470454701
2nd Edition
Authors: Andrew Metrick
Posted Date:
Students also viewed these accounting questions
-
On December 7, 2008, Alpharm issued shares of convertible preferred stock and warrants to purchase additional shares of preferred stock for an aggregate issue price of $46,180,000 in a private...
-
Talltree is considering a $12M Series B investment in Newco for 5M shares of CP with $12M APP. The other investors are (1) The employees, who have claims on 10M shares of common; and (2) EBV, the...
-
EBV makes a $5M Series A investment in Newco for 5M shares of CP. The employees of Newco have claims on 10M shares of common stock . At the same time as this transaction, Newco enters into a...
-
Penelope Pundit, an economics reporter, states that the European Union (EU) is increasing its productivity very rapidly in all industries. She claims that this productivity advance is so rapid that...
-
Each week during the NCAA mens college basketball season, teams are ranked according to two polls the AP Poll and the Coachs Poll. Each teams position is determined by the number of points received...
-
A traveling wave on a string is described by where x and y are in centimeters and t is in seconds. (a) For t = 0, plot y as a function of x for 0 ¤ x ¤ 160 cm. (b) Repeat (a) for t =...
-
What is the term used to describe an unsecured bond? a. Debenture bond b. Mortgage bond c. Serial bond d. Callable bond
-
Fill in the spreadsheet below and answer the following questions. Calculate answers to three decimal places. a. Calculate Total Returns (TRs) and Return Relatives (RRs) for McDonald's for the 10...
-
14. Inventory records for Epstein's Chemicals revealed the following: March 1, 2022, inventory: 1,000 gallons @ P7.20 = P7,200 Purchases Sales Mar. 10600 gals @ P7.25 Mar. 16 800 gals @ P7.30 Mar. 5...
-
Identify some differences between business organizations and government/not-for-profit organizations.
-
Calculate the present value for various discounting periods. Find the present value of $1000 due in the future under each of these conditions: 12% nominal rate, annual compounaing, discounted back 5...
-
Rewrite the following sentences to remove unnecessary modifiers: a. The new offices were built using modern, contemporary design features specified by experienced architects. b. The character...
-
You have been asked to create a team of four people within an organization to develop an internal company blog. Your role is to create an environment that supports the proactive use of the blog by...
-
The managing director (MD) of a medium-sized company experiencing difficulties at the beginning of an economic downturn wrote the following message on the blog used by employees. Using the principles...
-
How have market globalization and cultural diversity contributed to the increased importance of intercultural communication?
-
Look through recent issues (print or online) of Bloomberg Businessweek, Fortune, or other business publications for an article that describes how an executives conclusions about his or her companys...
-
You are at the end of November and you want to forecast sales for December. What kind of information can you find in the text? You are at the end of November: meaning t=November You want to forecast...
-
The water in tank A is at 270 F with quality of 10% and mass 1 lbm. It is connected to a piston/cylinder holding constant pressure of 40 psia initially with 1 lbm water at 700 F. The valve is opened,...
-
Assume that EBV invested in Newco at the terms in Exercise 10.2, and it is now one year later. Talltree is considering a $10M Series B investment in Newco. Talltree proposes to structure the...
-
Suppose that the advertising arms race in Example 23.2 is repeated a second time by the same two firms. (a) Draw an extensive form for the two-period game, showing all strategies for both firms in...
-
True, False, or Uncertain: Other things equal, the value of a binary call option decreases as volatility increases.
-
If the resultant of forces acting on a body does not pass through the centre of mass, then the inertia force and inertia couple is replaced by (a) Equivalent inertia force (b) equivalent inertia...
-
What is inertia force?
-
A slider crank mechanism is loaded as shown in Fig. \(11.35 . A B=400 \mathrm{~mm}, B C=600 \mathrm{~mm}, A D=200\) \(\mathrm{mm}, C E=300 \mathrm{~mm}\). Calculate the input torque for the static...
Study smarter with the SolutionInn App