User Account

All Pages

Calculate the variances

Assignment Help Managerial Accounting
Reference no: EM133030882

Question - Given the following data:

 

Direct Material

Direct Labor

Standard

 

 

Standard price per unit of input

$10 per foot

$10 per hour

Standard inputs allowed per unit of output

5 feet

3 hours

Actual

 

 

Actual price per unit of input

$12 per foot

$9 per hour

Actual units of input

2,300 feet

1,350 hours

Actual units produced was 500 units.

Required - Calculate the following variances and indicate whether they are favourable or unfavourable:

I. Material price

II. Material usage

III. Total material variance

Reference no: EM133030882

Questions Cloud

Scenario analysis assessment : Analyse the information contained in general purpose financial statements, to evaluate the overall financial position and performance of a business
Business retreats-conference centers : Pick a place by googling "Business Retreats" or "Conference Centers" and tell me why you chose this place.
Prepare all the entries related to the lease contract : Prepare all the entries related to the lease contract and leased asset for the year 2020 for the lessee and lessor, assuming the following executory costs
Implementation of kotter change model in music therapy : Question 1: Describe how Kotter's change model will be applied in the implementation of music therapy in the hospital.
Calculate the variances : Actual units produced was 500 units. Calculate the following variances and indicate whether they are favourable or unfavourable: Material price
Usefulness of sql in the business world : Problem: Perform an Internet search and locate a resource about the usefulness of SQL in the business world.
Logistical readiness of cowbell microbrewerry : Discuss any logistical concerns in getting the product/service to market and is your product easily transportable?
Role in marketing strategy : Blog Activity - Identify the DMC mix and its application inmarketing management and planning and Demonstrate an understanding of the DMC environment
Decribe a time when a value was tested : Problem: Identify your Top 10 values. Reflect on those values and decribe a time when a value(s) was tested.

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