The standard cost of Product B manufactured by Pharrell Company includes 2.4 units of direct materials...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The standard cost of Product B manufactured by Pharrell Company includes 2.4 units of direct materials at $5.1 per unit. During June, 27,000 units of direct materials are purchased at a cost of $4.85 per unit, and 27,000 units of direct materials are used to produce 11,100 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance Materials price variance Materials quantity variance $ (b) $ Total materials variance Materials price variance Materials quantity variance. $ $ $ Favorable $ Favorable Unfavorable Compute the total materials variance and the price and quantity variances, assuming the purchase price is $5.15 and the quantity purchased and used Unfavorable Unfavorable # Unfavorable + # # # # 26,600 units. The standard cost of Product B manufactured by Pharrell Company includes 2.4 units of direct materials at $5.1 per unit. During June, 27,000 units of direct materials are purchased at a cost of $4.85 per unit, and 27,000 units of direct materials are used to produce 11,100 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance Materials price variance Materials quantity variance $ (b) $ Total materials variance Materials price variance Materials quantity variance. $ $ $ Favorable $ Favorable Unfavorable Compute the total materials variance and the price and quantity variances, assuming the purchase price is $5.15 and the quantity purchased and used Unfavorable Unfavorable # Unfavorable + # # # # 26,600 units.
Expert Answer:
Answer rating: 100% (QA)
A CALCULTE VARIANCES TOTAL MATERIAL VARIANCE STANDARD COSTACTUAL COST 1... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Posted Date:
Students also viewed these accounting questions
-
The standard cost of Product B manufactured by Pharrell Company includes three units of direct materials at $5.00 per unit. During June, 29,000 units of direct materials are purchased at a cost of...
-
The standard cost of Product B manufactured by MIT Company includes three units of direct materials at $5.00 per unit. During June, 29,000 units of direct materials are purchased at a cost of $4.70...
-
A steam turbine receives a flow of 3 kg/s water at 1200 kPa, 350 C and velocity of 15 m/s. The steam exits the turbine at 100 kPa, 150 C and very low velocity. Find the specific work and the power...
-
Now you are going to do some calculations for the delivery times for each week using the mean delivery time which is 23 minutes and the standard deviation which was 20 minutes. (a) Describe the...
-
In Exercises use a graphing utility to graph the function. Then graph the linear and quadratic approximations in the same viewing window. Compare the values of , P 1 , and P 2 and their first...
-
Explain the construction and working of a pressure gauge with a neat sketch.
-
A portfolio manager needs to pick winnersassets or securities with high expected returns and low risk. What is wrong with this statement?
-
Program for find distance between two Coordinate points of (x1,y1), (x2,y2)?
-
Kidd Company produces two products. Budgeted annual income statements for the two products are provided here: Required a. Based on budgeted sales, determine the relative sales mix between the two...
-
Rudd Clothiers is a small company that manufactures long men's suits. The company used a standard cost accounting system. In May 2017, 10,700 suits were produced. The standard and actual cost data...
-
Assume that over a particular period the Russian ruble appreciated against the United States dollar by 11.0% and the United States dollar appreciated against the Singapore dollar by 6.5%. By what...
-
A) "Interest rate risk is a double-edged sword for banks". Discuss this statement. B) Explain the linkage between liquidity risk and credit risk in commercial banks.
-
B) ABC Hedge Fund has $500M in assets under management at the start of period 1. The fund grows to $575 million at the end of period 1. At the end of period 2, the fund's value falls to $550 million....
-
The shareholders of Al Laith Automobiles Company appointed Smart Audit and Assurance Services to assess whether the entity or organization uses the available resources or fund to acquire material,...
-
Question 5 (6 marks) Table 2 illustrates a hypothetical balance sheet of an imaginary bank. Asset Cash Loan T-bills Total Table 2. Hypothetical balance sheet of an imaginary bank Value ($ mil) 1,000...
-
A IKVA ideal single phase step-up transformer is supplied by a 24 V ac power source and is delivering power to a l10 resistive load connected to the secondary side. If the transformer is operated at...
-
How do individual companies respond to economic forces throughout the globe? One way to explore this is to see how well rates of return for stock of individual companies can be explained by stock...
-
Dreiling Company borrowed $300,000 on January 1, 2017, by issuing a $300,000, 8% mortgage note payable. The terms call for annual installment payments of $40,000 on December 31. Instructions (a)...
-
Data for Sedgwick Company are presented in E12-8. In E12-8, Sedgwick Company at December 31 has cash $20,000, noncash assets $100,000, liabilities $55,000, and the following capital balances: Floyd...
-
What is the relationship, if any, between the amount shown in the adjusted trial balance column for an account and that accounts ledger balance?
-
If you let go of a helium balloon, it quickly rises. As it rises, the balloon gets larger and larger until it pops. Why does the balloon expand as it rises?
-
Early airshipscraft that relied on large volumes of low density gas to rise from the groundwere filled with hydrogen, but safety concerns necessitated a switch to helium. When an airship made the...
-
Elephant seals do deep dives to forage for food. The energy used by the seals in diving depends on their body composition; for example, fatter seals use less energy to swim to the surface at the end...
Study smarter with the SolutionInn App