User Account

All Pages

Calculate the variances for march for riggins

Assignment Help Accounting Basics
Reference no: EM13853144

Riggins, Inc. manufactures one product called tybos. The company uses a standard cost system and sells each tybo for $8. At the start of monthly production, Riggins estimated 9,500 tybos would be produced in March. Riggins has established the following material and labor standards to produce one tybo:

During March 2013, the following activity was recorded by the company relating to the production of tybos:

1. The company produced 9,000 units during the month.

2. A total of 24,000 pounds of materials were purchased at a cost of $66,000.

3. A total of 24,000 pounds of materials were used in production.

4. 5,000 hours of labor were incurred during the month at a total wage cost of $55,000.

5. Calculate the following variances for March for Riggins, Inc.. Identify whether the variance is favorable or unfavorable?

Reference no: EM13853144

Questions Cloud

Advantages and disadvantages of the promotional element : What are the strengths, weaknesses, advantages and disadvantages of the promotional element you selected? Share at least one example of how a real company is using it in their promotional mix.
Who gains and who loses from a tariff : Who gains and who loses from a tariff. How do the effects of tariffs differ from the effects of quotas. If you were a small country, what would you rather utilize.
Calculate crescent corporations break-even point in sales : Calculate Crescent Corporations break-even point in sales dollars - Determine the volume of sales at which operating income would be the equal regardless of whether Crescent Corporation sells through sales agents
What characteristics are unfavorable for business : What characteristics are unfavorable for international business. Use this evaluation to make recommendations about the types of companies/industries that should pursue international business opportunities in your assigned country
Calculate the variances for march for riggins : The company produced 9,000 units during the month and A total of 24,000 pounds of materials were purchased at a cost of $66,000.
How change management effect organisational effectiveness : How does change management effect organisational effectiveness? How the current change management theories be applied to support organisations?
Benefits that virginia bikes would get : List and briefly explain three specific quantifiable (measurable) business benefits that Virginia Bikes would get from using a cloud-based Software-as-a-Service (SaaS) solution. Your explanations should include references to the Virginia Bikes bus..
Migrating business-critical applications : Migrating business-critical applications
Employment in the classical system : 1. One factor which did not influence the levels of real output and employment in the classical system was the

Reviews

Write a Review

Accounting Basics Questions & Answers

  Assume that direct labor is a variable cost of the fixed

iwasaki inc. is considering whether to continue to make a component or to buy it from an outside supplier. the company

  Journalize the transaction that must take place for gifford

gifford lawrence and ma share equally in net income and net losses. after the partnership sells all assets for cash

  An asset costs 102000 and has an expected life of 20 years

an asset costs 102000 and has an expected life of 20 years at which time it will have ascrap value of 16000. the asset

  Picksy company owns equipment that cost 38250 when

picksy company owns equipment that cost 38250 when purchased on 1 january 2009. it has been depreciated using the

  Are there any associated implications for the profession

Many people believe that an auditor cannot be truly independent when the client pays the audit fees. Can you think of any possible solutions or approaches that might reduce this apparent lack of independence?

  Price earnings ratio on common stock

Orchard"s net income for the year ended December 31 was $50,000. The yearly preferred dividend was declared. No capital stock transactions occurred. What was the price earnings ratio on Orchard"s common stock at December 31?

  Explain main purpose of cost accounting

A business always absorbs its overheads on labor hours. In the 8th period, 18,000 hours were worked. The main purpose of cost accounting is?

  Controlling interest in consolidates net income

On jan 1 2011 pearce com purchased an 80% interest in the capital stock of searl com for 2460000. at the time searl co had capital stock of 1500000 amd retaines earnings of 300000. Calculate the controlling interest in consolidates net income for 2..

  Henderson industries has 300 million of common equity its

henderson industries has 300 million of common equity its stock price is 30 per share and its market value added mva is

  Accrual basis accounting

Determine which of the following is not one of the four conditions that normally must be met for revenue to be recognized according to the revenue principle for accrual basis accounting

  Suppose cardinal wants to earn 20000 this year determine

cardinal castles inc. makes one type of birdhouse that it sells for 30 each. its variable cost is 14 per house and its

  Shubelik company is changing to an activity-based costing

shubelik company is changing to an activity-based costing method. they have determined that they will use three cost

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