Determine the materials price variance for the month, Accounting Basics

+44 141 628 6080
[email protected]

Determine the materials price variance for the month

The standards for product U31 call for 7.1 liters of a raw material that costs $12.10 per liter. Last month, 1,900 liters of the raw material were purchased for $23,180. The actual output of the month was 200 units of product U31. A total of 1,200 liters of the raw material were used to produce this output

a. What is the materials price variance for the month?
b. What is the materials quantity variance for the month?

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Determine the materials price variance for the month

Reference No:- TGS0683758

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Compute net cash from operating activities

Stackhouse International, Inc., completed its first year of operations on June 30, 2010. The firm's income statement for the year showed revenues of $250,000 and operating expenses of $75,000.

Q : Find probability that you win prize at least once in tries

If you buy one Lotto ticket per week for a year, determine the probability that you win a prize at least once in the 52 tries.

Q : Foreign currency translation losses

The following income statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December 31, 2013 ($ in 000s): sales revenue, $17,300; cost of goods sold.

Q : Probability-student

At a small college, the probability that a student takes physics and sociology is 0.092. the probability that a student takes sociology is 0.73. Find the probability that the student is taking physics, given that he or she is taking sociology.

Q : Determine the materials price variance for the month

The standards for product U31 call for 7.1 liters of a raw material that costs $12.10 per liter. Last month, 1,900 liters of the raw material were purchased for $23,180.

Q : Uribe company sells a single product

Uribe Company sells a single product that has variable costs of $14 per unit. Fixed costs will remain constant across all levels of sales shown.

Q : Calculating value of test statistic

Calculate the value of the test statistic, set up the rejection region, determine the p-value, interpret the result, and draw the sampling distribution.

Q : Describe jennifers basis for stock immediately before sale

On January 31 of this year, Jennifer pays $700for an option to aquire100 sharesof lifetime corporation common stock for $70 per share. Jennifer exercises the option on June 2. Jennifer sells the stock on April 30 of the next yearfor $10,000.

Q : Costs at various activity levels

Iguchi Company sells a single product. Iguchi estimates demand and costs at various activity levels as follows:How much profit will Iguchi have if a price of $45 is charged?

1948369

Questions
Asked

3,689

Active Tutors

1444424

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Determine the materials price variance for the month

Reference No:- TGS0683758

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Compute net cash from operating activities

Q : Find probability that you win prize at least once in tries

Q : Foreign currency translation losses

Q : Probability-student

Q : Determine the materials price variance for the month

Q : Uribe company sells a single product

Q : Calculating value of test statistic

Q : Describe jennifers basis for stock immediately before sale

Q : Costs at various activity levels

Problem on journal articles and non-journal materials

Describe some of your personality traits

Describe the results, including any scores

Review a social, behavioral, or cultural factor

How teenagers in an impoverished urban area spend their time

Discussion about the nature versus nurture

Problem regarding the america youth and social media

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Determine the materials price variance for the month

Reference No:- TGS0683758

Recent Questions Asked Accounting Basics

Q : Compute net cash from operating activities

Q : Find probability that you win prize at least once in tries

Q : Foreign currency translation losses

Q : Probability-student

Q : Determine the materials price variance for the month

Q : Uribe company sells a single product

Q : Calculating value of test statistic

Q : Describe jennifers basis for stock immediately before sale

Q : Costs at various activity levels

Asked Questions