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 walkthrough 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...

Neutrons are used to obtain images of the hydrogen atoms in molecules. What energy must be imparted to each neutron in a neutron beam to obtain a wavelength of 10.0 pm? Obtain the energy in electron...

You ran a regression of the yield of KC Companys 10year bond on the 10year U.S. Treasury benchmarks yield using monthend data for the past year. You found the following result: YieldKC = 0.54 +...

In 2014, Air Asia Flight No. 8501 crashed in the Java Sea while flying from Indonesia to Singapore. The crash resulted in the deaths of all passengers and crew on board. The plane involved in the...

Alternative allocation bases for a professional services firm. The Walliston Group (WG) provides tax advice to multinational firms. WG charges clients for (a) Direct professional time (at an hourly...

Oil having a density of 921 kg/m floats on water. A rectangular block of wood 4.41 cm high and with a density of 963 kg/m floats partly in the oil and partly in the water. The oil completely covers...

Honda Motor Corporation of Japan is a leading international manufacturer of automobiles, motorcycles, allterrain vehicles, and personal watercraft. As a Japanese company, it follows Japanese GAAP...

Consider the Classes below that may be programmed by YouTube User Video Comment The Class User can have an email and password as instance variables. Methods may include: change Password and...

Scott is 15 years old and qualifies as a dependent on his parents tax return. During 2017 he earns $2,500 from a parttime job and also receives $800 of dividend income on stock given to him by his...

Maria is a single individual with taxable income of $75,000 in 2017. What marginal tax rate should she use to determine the tax savings from a $2,000 deductible expense?

If a taxpayer has $40,000 of employee salary in 2017, how much will be withheld for the Social Security and Medicare taxes?

Melissa is an employee of Largo Corporation. In 2017 Melissas salary was $105,000 and she earned a bonus of $24,000. How much in Social Security and Medicare taxes must be paid by Largo Corporation...

Harbin Manufacturing has 10 million shares outstanding with a current share price of $20 per share. In one year, the share price is equally likely to be $30 or $18. The riskfree interest rate is 5%....

(1) What should the team leader do to get the team's communications back on track? (2) What is the best way to handle problem team members during meetings? (3) Does the team need more skills...

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?

Prove (20.20), i.e. show that \(\mathbb{E}\left[B_{T}^{2 n} e^{B_{T}^{2}} ight]=\frac{(2 n1) ! !}{\sqrt{2 T+1}}\left(\frac{T}{2 T+1} ight)^{n}\). Here, \((1) ! !:=1\), \((2 n1) ! !=1 \cdot 3...

Show that the definition of the iterated It integral for \(f \in L^{2}\left(\mathbb{R}_{+}^{2} ight)\) (Definition 20.9) is independent of the approximating sequence. Data From 20.9 Definition 20.9...

Verify the claim made in Example 21.9 using Its formula. Derive from the proof of Lemma 21.8 explicitly the form of the transformation and the coefficients in Example 21.9. Integrate the condition...
Study smarter with the SolutionInn App