User Account

All Pages

Calculate the material price variance

Assignment Help Managerial Accounting
Reference no: EM132810789

Question - At Oak Ridge, the standard price for the M640 electrical relay (a component used in the production of a commercial refrigeration unit) is $55. Standards call for 3 relays per unit of finished product. In July, the company purchased 140 relays for $7,840. The company used 106 relays in the production of 53 refrigeration units (4 relays were damaged in the installation process).

Required - Calculate the material price variance and the material quantity variance related to the M640 electrical relay. Indicate whether the variances are favorable or unfavorable.

Reference no: EM132810789

Questions Cloud

Future career in a health care organization : Discuss how you can apply the concepts learned in a Financial Management course to a future career in a health care organization?
Why have advertising networks become controversial : Why have advertising networks become controversial? What, if anything, can be done to overcome any resistance to this technique?
What is the basis for declaration : George Halvorson declares that "health care is the epitome of a nonsystem" (2009, p. 2).
Program for ikea managers for its effectiveness : Critique the current training program for IKEA managers for its effectiveness. Then, select any two (2) of the learning/motivation theories
Calculate the material price variance : Calculate the material price variance and the material quantity variance related to the M640 electrical relay
Determine the amount of net income allocated to each partner : Determine the amount of net income allocated to each partner for 2020. Determine the balance in both capital accounts at the end of 2019.
Hiring and shift scheduling process : Provide a document of detailing the hiring process that you will use to select personnel for your facility.
Major elements of effective strategic compensation system : - What are the major elements of an effective strategic compensation system?
Explain differential analysis and irrelevant costs : An outside supplier has offered to sell the company all of these parts it needs for $59.20 unit. Explain differential analysis and relevant and irrelevant costs

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd