Question: Question 3 4 pts The following data is used for the next 2 questions: Museum Creations produces blown glass art using glass beads and produced

Question 3 4 pts The following data is used for the next 2 questions: Museum Creations produces blown glass art using glass beads and produced 1400 units. The following information about direct materials is given below: Purchased 5020 lbs. of glass beads at a price of $3 per Ib. Used 4980 lbs. during the period. The standard price of the glass beads-- $3.7 per lb. The standard quantity per unit--3.5 lbs. What is Museum Creations' direct materials price variance for the period (round to the nearest whole unit/dollar, 2 points) ? Was the variance favorable or unfavorable (2 points)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

You have been hired as a consultant by Molycorp, a rare earth mineral mining company headquartered in Colorado. Your job is to evaluate a huge financing decision the company faces as part of its...

The following data is used for the next 2 questions: Museum Creations produces blown glass art using glass beads Museum budgeted that they would produce 1450 units but actually produced 1400 units....

Question 4 4 pts The following data is the same as the previous question: Museum Creations produces blown glass art using glass beads and produced 1400 units. The following information about direct...

_ A Fixed Cost is: O The ratio of total cost to total quantity of output 0 The market value of an asset at the end of its life less its disposal costs 0 The incremental cost of producing one more...

PLEASE SHOW STEPS FOR EACH QUESTION BEING ANSWERED THANKS SO MUCH!! Chapter 8 Review Farron Company, which has only one product, has provided the following data concerning its most recent month of...

::,, solve the following QS 10-5 Computing bond price P1 Garcia Company issues 10%, 15-year bonds with a par value of $240,000 and semiannual interest payments. On the issue date, the annual market...

Please assist with the attached homework. Question 1 (30 Points) On December 31, 2014, Rayco Inc. had the following balances (all balances are normal): Accounts Amount Preferred Stock, ($100 par...

COST ACCOUNTING- Cost Behavior Anselmi Company has been in business one year manufacturing specialty Italian pastas. The company began based on strong favorable reaction to an Anselmi family pasta...

For questions 1, 2, and 3, consider the retail market for regular gasoline. Assume, for purposes of these first three questions, that this market is currently a perfectly competitive market with the...

Tom Epps and Mary Jones are examining the following statement of cash flows for Guthrie Company for the year ended January 31, 2019. GUTHRIE COMPANY Statement of Cash Flows For the Year Ended January...

Organizations are looking for business professionals who have knowledge, skills, and personal qualities that will allow them to lead and support the effective and competitive use of information...

What is most nearly the reaction at A? 100 N/m 4 m 6 m (A) 50 N (B) 100 N (C) 130 N (D) 150 N (5. Referring to the figure below, the coefficient of static friction between the block and the inclined...

(6. A cylinder weighing 120N rests between two frictionless walls as shown in the following figure. B 3 The wall reaction (N) at Point A is most nearly: (A) (B) (C) 96 139 150 200 (7. A body is...

(8. Find the tensions, T1 and T2, in the ropes shown so that the system is in equilibrium. 45 T2 50 N a) T1= 50.0 N, T2 = 0.0 N b) T1 = 50.0 N, T2 = 50.0 N c) T1 = 70.7 N, T2 = 50.0 N d) T1 = 70.7 N,...

Refer to the following illustration for Probs. 19 through 20. Mohr's circle E B D 26 C A 19. On Mohr's circle for stress (which relates the applied normal stresses o, and o, and the shear stress r),...

Refer to the following illustrations.. (Probs. 22 - 24) 22. The shear diagram for the beam loading shown is most nearly (a) a. (b) b. (c) c. (d) d. {a) V F2 23. (b) RA Ra The shear diagram for the...

Which of the following is a true statement about capital losses? (a) If they are non-listed personal assets, then they can be used to offset gains on non-listed personal assets. (b) They cannot be...

In Chapter 3 we discussed job satisfaction and its determinantsthe work itself, pay, growth and upward mobility, supervision, coworkers, and attitudes toward work. Which of these determinants can be...

Experts in the field of negotiation generally agree that setting goals too low is likely to become a self-fulfilling prophecy, especially for women. Therefore, the advice is for women to develop a...

The case listed examples of questions that can be addressed by Negotiating Women, Inc. Select any two questions on the list and indicate whether they can be addressed using networking, negotiating,...