User Account

All Pages

Calculate the material price variance and quantity variance

Assignment Help Accounting Basics
Reference no: EM132758266

Question: At Munchies, the standard price for the M640 electrical relay (a component used in the production of a commercial refrigeration unit) is $62. Standards call for 2 relays per unit of finished product. In July, the company purchased 161 relays for $9,177. The company used 100 relays in the production of 48 refrigeration units (4 relays were damaged in the installation process).

Calculate the material price variance and the material quantity variance related to the M640 electrical relay. Indicate whether the variances are favorable or unfavorable.(Round intermediate calculations to 2 decimal places, e.g. 14.37 and final answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.)

Material Price Variance$ _____ Unfavorable/Neither Unfavorable nor Favorable/ Favorable

Material Quantity Variance$ _____ Favorable/ Neither Unfavorable nor Favorable/Unfavorable

Reference no: EM132758266

Questions Cloud

Ethics versus compliance : Before beginning your discussion, read the article Ethics vs. compliance: Do we really need to talk about both?
Calculating the present value of multiple cash flows : Calculating the present value of multiple cash flows? You can only find the PV of multiple cash flows if they originate at the same time.
Ethics-compliance and training : Read chapter four in the textbook and Ethics, reputation, and compliance gain as corporate priorities.
What is the manner of disclosure of the property : How can the Property, Plant and Equipment be derecognized and give atleast 2 examples. What is the manner of disclosure of the Property
Calculate the material price variance and quantity variance : Calculate the material price variance and the material quantity variance related to the M640 electrical relay. Indicate whether the variances are favorable.
How is the property and equipment recognized by entity : What is a cost and fair value model relating to Property, Plant and Equipment? How is the Property, Plant and Equipment recognized by the entity initially
Role of leadership integrity in organizational ethics : Prior to beginning your discussion response, read Managing for organizational integrity.
Prepare the plant assets section of marin statement : At December 31, 2016, Marin SA reported the following as plant assets. Prepare the plant assets section of Marin's statement of financial position
Compute what nominal annual percentage cost of non-free : Typically pays 60 days after the invoice date. What is the nominal annual percentage cost of its non-free trade credit, based on a 365-day year?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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