Calculation of material price and quantity variances

Assignment Help Financial Accounting
Reference no: EM1314110

Calculation of Material price and quantity variances.

Diekow productions manufacturing and sold 1000 production at $11000 each during the past year. At the beginning of the year, production had been set at 1200 products; direct materials standards had been set at 100 pounds of direct materials at $2 per pound for each product produced. During the year, the company purchased and used 98000 pounds of direct materials; the cost was $2,04 per pound. Calculate diekow production's direct materials price and quantity variances for the year.?

Reference no: EM1314110

Questions Cloud

Explaining serum cholesterol values-older males are lower : Give a possible description why serum cholesterol values for older males are lower than for younger males and reverse is true for females.
Show the activity based costing : Activity Based Costing - Theory which cost method would you use to manage this business and why
Evaluate the unit product cost of each product : Evaluate the unit product cost of each product for the current period using the activity-based costing approach and Computation of cost of the products based on Activity Based Costing
Determine diekow production''s direct labor rate : Calculation of Labor rate and efficiency variances - Using this information and the applicable information in E6, determine Diekow production's direct labor rate and efficiency variances for the year?
Calculation of material price and quantity variances : Calculation of Material price and quantity variances - Evaluate diekow production's direct materials price and quantity variances for the year
Present problems for the bergholts : Suppose they do qualify; what other factors might they consider before purchasing and taking out a home mortgage? and What future changes might present problems for the Bergholts
Determine value of mortgage : Computation of value of mortgage and Estimate the affordable mortgage and the affordable purchase price for the Bergholts.
Applications of combination : Applications of combination
Computing five key percentiles for data : Compute mean, standard deviation, coefficient of variation and 5 key percentiles for these data.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

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