A large hamburger franchise (Weber's) has documented the standard direct materials quantities and standard materials prices...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A large hamburger franchise (Weber's) has documented the standard direct materials quantities and standard materials prices for its regular hamburger. E (Click the icon to view standard direct materials and standard materials prices.) Assume that a Halifax, NS, Weber's sold 5,000 hamburgers yesterday and purchased and used the following materials. E (Click the icon to view actual materials used and actual materials prices paid.) 1. Compute the direct materials price variance for each ingredient. 2. As a manager, what would you learn from the variances and supporting data? Requirement 1. Compute the direct materials price variance for each ingredient. First, select the formula labels then compute the direct materials price variances for each ingredient when 5,000 hamburgers were sold. (Round your answer to the nearest cent. Enter the results as positive numbers. Label each variance as favourable (F) or unfavourable (U). Enter ketchup's price and quantity in grams.) Price )x variance Buns Patties )x Pickles ) x %3D Onions ) x Mustard Ketchup ( Requirement 2. As a manage what would you learn from the variances and supporting data? While the per unit differences between actual and standard prices are we see that these variances V once volume is taken into account. The variance in the price paid for each hamburger patty has ended up costing the company an extra $ just for one day's production. The bun variance amounted to $ for just one day. Management will Choose from any list or enter any number in the input fields and then continue to the next question. A large hamburger franchise (Weber's) has documented the standard direct materials quantities and standard materials prices for its regular hamburger. E (Click the icon to view standard direct materials and standard materials prices.) Assume that a Halifax, NS, Weber's sold 5,000 hamburgers yesterday and purchased and used the following materials. E (Click the icon to view actual materials used and actual materials prices paid.) 1. Compute the direct materials price variance for each ingredient. 2. As a manager, what would you learn from the variances and supporting data? Data Table Requirement 1. Comput i Data Table First, select the formula l as favourable (F) or unt d. (Roun Weber's Weber's Standard Direct Materials per Hamburger Actual ingredients used to produce 5,000 hamburgers 1 bun 1 pickle slice 1/4 teaspoon of mustard Buns 5,150 buns 4,800 pickle slices 1,400 teaspoons of mustard 1 hamburger patty 1/8 teaspoon of onion 25 g of ketchup Patties 5,100 hamburger patties 800 teaspoons of onion 137.5 kg of ketchup Standard Materials Prices Pickles Actual Materials Prices Buns $0.10 each Onion ....... $0.08 per teaspoon Onions Buns $ 0.12 each Onion $0.07 per teaspoon Hamburger patties .. $0.20 each Mustard. $0.04 per teaspoon Mustard Hamburger patties .... $ 0.25 each Mustard $0.01 per teaspoon Pickle slices...... $0.03 per slice Ketchup...... $0.20 per 100 g Pickle slices $ 0.02 per slice Ketchup $0.24 per 100 g Ketchup ( Requirement 2. As a ma Print Done Print Done While the per unit differer patty has ended up costing the company an extra $ just for one day's production. The bun variance amounted to $ for just one day. Management will Choose from any list or enter any number in the input fields and then continue to the next question. A large hamburger franchise (Weber's) has documented the standard direct materials quantities and standard materials prices for its regular hamburger. E (Click the icon to view standard direct materials and standard materials prices.) Assume that a Halifax, NS, Weber's sold 5,000 hamburgers yesterday and purchased and used the following materials. E (Click the icon to view actual materials used and actual materials prices paid.) 1. Compute the direct materials price variance for each ingredient. 2. As a manager, what would you learn from the variances and supporting data? Requirement 1. Compute the direct materials price variance for each ingredient. First, select the formula labels then compute the direct materials price variances for each ingredient when 5,000 hamburgers were sold. (Round your answer to the nearest cent. Enter the results as positive numbers. Label each variance as favourable (F) or unfavourable (U). Enter ketchup's price and quantity in grams.) Price )x variance Buns Patties )x Pickles ) x %3D Onions ) x Mustard Ketchup ( Requirement 2. As a manage what would you learn from the variances and supporting data? While the per unit differences between actual and standard prices are we see that these variances V once volume is taken into account. The variance in the price paid for each hamburger patty has ended up costing the company an extra $ just for one day's production. The bun variance amounted to $ for just one day. Management will Choose from any list or enter any number in the input fields and then continue to the next question. A large hamburger franchise (Weber's) has documented the standard direct materials quantities and standard materials prices for its regular hamburger. E (Click the icon to view standard direct materials and standard materials prices.) Assume that a Halifax, NS, Weber's sold 5,000 hamburgers yesterday and purchased and used the following materials. E (Click the icon to view actual materials used and actual materials prices paid.) 1. Compute the direct materials price variance for each ingredient. 2. As a manager, what would you learn from the variances and supporting data? Data Table Requirement 1. Comput i Data Table First, select the formula l as favourable (F) or unt d. (Roun Weber's Weber's Standard Direct Materials per Hamburger Actual ingredients used to produce 5,000 hamburgers 1 bun 1 pickle slice 1/4 teaspoon of mustard Buns 5,150 buns 4,800 pickle slices 1,400 teaspoons of mustard 1 hamburger patty 1/8 teaspoon of onion 25 g of ketchup Patties 5,100 hamburger patties 800 teaspoons of onion 137.5 kg of ketchup Standard Materials Prices Pickles Actual Materials Prices Buns $0.10 each Onion ....... $0.08 per teaspoon Onions Buns $ 0.12 each Onion $0.07 per teaspoon Hamburger patties .. $0.20 each Mustard. $0.04 per teaspoon Mustard Hamburger patties .... $ 0.25 each Mustard $0.01 per teaspoon Pickle slices...... $0.03 per slice Ketchup...... $0.20 per 100 g Pickle slices $ 0.02 per slice Ketchup $0.24 per 100 g Ketchup ( Requirement 2. As a ma Print Done Print Done While the per unit differer patty has ended up costing the company an extra $ just for one day's production. The bun variance amounted to $ for just one day. Management will Choose from any list or enter any number in the input fields and then continue to the next question.
Expert Answer:
Answer rating: 100% (QA)
Requirement 1 Computation of Direct Materials Price Variance for eac... View the full answer
Related Book For
Posted Date:
Students also viewed these general management questions
-
What principles did you learn from the red bead experiment?
-
What principles did you learn from the red bead experiment? Discuss.
-
What did you learn from the case study below? Case study A walk-through is an excellent method to use at the start of a quality improvement project because it is a simple and inexpensive but powerful...
-
You are asked to verify Kepler's Laws of Planetary Motion. For these exercises, assume that each planet moves in an orbit given by the vector- valued function r. Let r = ||r||, let G represent the...
-
Use a continuous Fourier series to approximate the sawtooth wave in Figure. Plot the first three terms along with thesummation. T
-
What is the generic structure of alcohols? Write the structures of two specific alcohols.
-
How do we prove the accuracy of account balances in the general ledger and subsidiary ledgers after posting? AppendixLO1
-
Evaluating an Ethical Dilemma: Earnings, Inventory Purchases, and Management Bonuses Micro Warehouse was a computer software and hardware online and catalog sales company. * A Wall Street Journal...
-
Time-Adjusted Cost-Volume-Profit Analysis with Income Taxes Assume The Hershey Company is considering the desirability of producing a new chocolate candy called Pleasure Bombs. Before purchasing the...
-
A centrifugal pump delivers water through a 40-cm-diameter, 1,000-m-long commercial steel pipe from reservoir A to B with EA = 920.5 m and 8 = 935.5 m. Friction losses vary according to the Moody...
-
The Document Object Model, or DOM, is a Web API that is responsible for: allowing the HTML to retrieve standardized CSS models to apply to the document. allowing access to view and edit database...
-
1.A woman eats 65g of protein per day. She weighs 156 lbs. How much protein is she getting per kg of body weight? Explain briefly both question 2.152 lbs = ________________kg. [2.2 lbs = 1 kg] explain
-
The concrete slab shown in Figure is 7m x 5m. The slab is not supported along one of the 7m long edges (free edge). The other three edges are supported and continuous over the supports, and therefore...
-
1. If possible, find 4-B -[{3}][{3}] A=
-
Georgi owns 50% of Forbes, Inc., an S corporation. At the beginning of the current tax year, Georgi had zero basis and an unused net business loss carryover of $10,000. During the tax year, she...
-
luation, of Fundamental Managerial Accounting Concepts. Use Excelshowing all work and formulasto complete the following: Prepare a flexible budget. Compute the sales volume variance and the...
-
K One disadvantage of the payback method is that it does not consider the time value of money. 4 O True False ***
-
President Lee Coone has asked you to continue planning for an integrated corporate NDAS network. Ultimately, this network will link all the offices with the Tampa head office and become the...
-
Why is there so much emphasis on group dynamics and teamwork in the workplace?
-
1. What type or types of control did you witness in this scene? Give examples from the video clip. 2. Typically on a first date, the partner who planned and organized the date (in this case, Rob)...
-
In comparison, what are the pros and cons to face to face group communication?
-
Develop a response strategy for one of the negative risks and one of the positive risks. Enter the information in the risk register. Also write a separate paragraph describing what specific tasks...
-
Find an example of a company that took a big risk on an IT project and succeeded. In addition, find an example of a company that took a big risk and failed. Summarize each project and situation in a...
-
Create a risk register for the project, using Table 11-5 and the data after it as a guide. Identify six potential risks, including risks related to the problems described in the previous paragraph....
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App