User Account

All Pages

Calculate the materials activity variance

Assignment Help Financial Accounting
Reference no: EM132575035

Question 1: Marbles Company has the following information available regarding its materials:

Managers expected to pay $5 per kilogram, but ended up paying $6 per kilogram. Each unit produced should take 2 kilograms; actual total usage was 2,100 kilograms. Finally, the company planned to produce 1,000 units, but only produced 950.

Calculate the materials efficiency variance.

Option 1: $2,100 (unfavorable)

Option 2: $0

Option 3: $1,000 (unfavorable)

Option 4: $1,400 (unfavorable)

Question 2: Marbles Company has the following information available regarding its materials:

Managers expected to pay $5 per kilogram, but ended up paying $6 per kilogram. Each unit produced should take 2 kilograms; actual total usage was 2,100 kilograms. Finally, the company planned to produce 1,000 units, but only produced 950.

Calculate the materials activity variance.

Option 1: $2,500 (unfavorable)

Option 2: $500 (unfavorable)

Option 3: $500 (favorable)

Option 4: $2,500 (favorable)

Reference no: EM132575035

Questions Cloud

What do think the author overall assessment : 1) According to the author, who is Jessica's "greatest enemy"? 2) What do you think the author's overall assessment is of the show?
What is budgeted level of cash flow from operating activity : What is the budgeted level of Cash Flow from Operating Activities? Only raw materials are purchased on account. The company has no debt
Important document for clarification of roles : An employee job description is an important document for clarification of roles, responsibility and accountability.
What is your opinion of the national response framework : What is your opinion of the National Response Framework (NRF)? Do you feel that its recommendations on how to respond to disasters
Calculate the materials activity variance : Calculate the materials activity variance. Calculate the materials efficiency variance. Managers expected to pay $5 per kilogram, but ended up paying
What role does family involvement play in literacy : What role does family involvement play in literacy development? Discuss how you could encourage families to build confidence
Write a cover letter to an it firm to apply for internship : Write a Cover Letter to an IT firm to apply for internship during vacations. Keep the following points in mind while making your Cover Letter:
What is the budgeted sales price for excursion backpacks : If budgeted revenue for the period is $250,000 and the sales price for Daytripper backpacks is $50, what is the budgeted sales price for Excursion backpacks?
Find the number of units transferred to assembly : The Cutting department had $563,382 of direct materials and $435,402 of conversion cost. Compute the number of units transferred to Assembly.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Compute the materials price and quantity variances

Compute the materials price and quantity variances for the month.- Compute the labor rate and efficiency variances for the month.

  Advanced business financial analysis

Pretend you are the CFO of a company that has paid a steady dividend for the past forty years and your recently hired, brilliant, freshly minted UTA Finance graduate who managed to pass Advanced Business Financial Analysis sends you a text message on..

  Determine net present value of the proposed mining project

Determine the net present value of the proposed mining project.- Use the appropriate table to determine the discount factor.

  Explain the nature of share of bhp billiton

Explain the nature of share of BHP Billiton by distinguishing between an ordinary share and a preference share. (Assume that BHP Billiton had issued)

  Find the value of the customer to james

Find the value of this customer to James and Decide if he should get credit. James Corporation is considering the credit application of a customer.

  What current price of stock for holtzman corporation

If there is $32,800 in earnings available to common stockholders, and Holtzman's stock has a P/E of 19 times earnings per share, what is the current price.

  Change to double-declining balance method of depreciation

On January 1, 2012, Nobel Corporation acquired machinery at a cost of $1,200,000. Nobel adopted the straight-line method of depreciation for this machine and had been recording depreciation over an estimated life of ten years, with no residual value...

  Calculate stockholders equity at the end of the period

Calculate stockholders' equity at end of the period. Select business organization that matches with description: corporation, partnership, sole proprietorship.

  Costs that are expensed when incurred are called

The accounting records of Georgia Company revealed the following costs: direct materials used, $250,000; direct labor, $425,000; manufacturing overhead, $375,000; and selling and administrative expenses, $220,000. Georgia's product costs total: Costs..

  Prepare adjusting entry at december to accrue estimate cost

Prepare the adjusting entry at December 31 to accrue the estimated warranty cost.In 2015 warranty contract honored in 50 units, prepare the journal entry.

  Explain service revenue unrecorded in august

Calvin and Hobbes are the new owners of Micro Computer Services. At the end of August 2010, their first month of ownership, Calvin and Hobbes are trying to prepare monthly financial statements. They have the following information for the month.

  What amount should alpha company record the equipment

Offered Alpha, $185,000 for this equipment. What amount should Alpha Company record the equipment purchase at if payment is made by July 11?

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