Calculate price and efficiency variances for all of the

Assignment Help Accounting Basics

Reference no: EM13485554

Spam Inc. had the following standard costs and plans for fiscal current year for the production' of custom meat products
Plan 500,000 Plan
Direct Material .5 lbs meat per unit at $1.20 per lb
Direct Labor .6 hrs. at $12 per hour
Overhead $3.50 per unit variable ovhd
$600,000 fixed ovhd

Actual
490,000 units
235,200.00 lbs $272,832.00
308,700.00 hrs $3,627,225.00
$1,690,500.00 variable ovhd
$612,000.00 fixed ovhd

Calculate price and efficiency variances for all of the above and briefly explain what they mean and why the variances may have occurred.

Reference no: EM13485554

Questions Cloud

Indicate the number of equivalent units produced in the : powell co. produces a flashlight that goes through four processes before being transferred to finished goods. in the

Now dana acquires some risky assets that cause its beta to : data for dana industries is shown below. now dana acquires some risky assets that cause its beta to increase by 30. in

Accts receivable - 860000 of which 600000 will be collected : whooper plans the following for the upcoming quarter month sales oct - 3000000.00 nov - 3450000.00 dec-4200000.00 the

If jill replaces stock a with another stock e which has a : jill angel holds a 200000 portfolio consisting of the following stocks. the portfolios beta is

Calculate price and efficiency variances for all of the : spam inc. had the following standard costs and plans for fiscal current year for the production of custom meat

A shavon company has total fixed costs of 6000000 and : a shavon company has total fixed costs of 6000000 and total variable cost of 3000000 at a volume level of 300000 units.

Fbruary march and april of 6000 5000 5550 and 2000 : a company is using the high-low method and has determined the following production for the months of january february

Assuming that interest rates are 10 per annum for all : the spot price of silver is 9 per ounce. the storage costs are 0.24 per ounce per year payable quarterly in advance.

Sattle inc is contemplating a project that costs 180000 : seattle inc. is contemplating a project that costs 180000. expectations are that annual cash revenues will be 70000 and

User Account

All Pages