Compute the direct material quantity variance

Assignment Help Managerial Accounting
Reference no: EM133087950

Question - Devito Jewelers specializes in custom settings for the customers' gemstones. Platinum represents the most popular precious metal Devito uses when designing new settings. In July, Devito purchased 850 grams of platinum at a spot price of $35.50 per gram. During July, Devito used 800 grams of platinum to create new 200 custom ring settings. When estimating the material cost of a ring setting, the company uses the following standard: 4.2 grams per ring with a total cost per ring of $147.00 per ring. Compute the direct material quantity variance.

Reference no: EM133087950

Questions Cloud

What is the stock worth today : Suppose an annual dividend of preferred stock pays $6.52 and there is a return on investment of 5.8%. What is the stock worth today
Calculate what the stock of a toy company : Calculate what the stock of a toy company by the name of Peter Rabbit Union should be selling for if the company just paid $4.70 per share in dividends
Investigate the limits of economic growth : Investigate the limits of Economic growth. You should reference the two articles provided on this subject above, the material in your textbook
Compute the sales volume required : Adelman's ownership team expects a 14.5% after-tax return on investment with a tax rate of 20.0%. Compute the sales volume required
Compute the direct material quantity variance : In July, Devito purchased 850 grams of platinum at a spot price of $35.50 per gram. Compute the direct material quantity variance
Explain and discuss Hezbollahs organizational structure : Explain and discuss Hezbollahs organizational structure and What organizations are considered affiliates of Hezbollah, if there are any?
What will have been the overall annual profitability : You will sell your bond 12 years later (8 years before maturity). What will have been the overall annual profitability of your investment
What entry would quest make to record this purchase : What entry would Quest make to record this purchase? What entry would Quest make if it received a $4 dollar dividend per share on October 1, 2019
Determine the net cash provided by operating activities : The following data are available for Allen Clapp Corporation: Net income $200,000. Determine the net cash provided by operating activities

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Prepare a responsibility report for january

The Mixing Department manager,What would be the likely result of management's analysis of the report? Prepare a responsibility report for January 2010.

  What is the return on the loan commitment

The bank requires a compensating balance on this loan of 10 per cent. If the bank charges a back-end fee of 0.3%, what is the return on the loan commitment

  Which of the refers to standards that allow for no machine

Which of the refers to standards that allow for no machine breakdowns or other work interruption and that require peak efficiency at all times?

  Calculate cost of goods manufactured

If Ashley's cost of goods sold for the month was $4,250,000, how much was the increase or decrease in finished goods inventory for the month of September?

  Calculate the breakeven revenues

Calculate the breakeven revenues if variable costs are 58% of revenues - Calculate Freddie Corporations operating income

  Publishes a corporate social responsibility report

Locate the website of any company that publishes a Corporate Social Responsibility Report

  Calculate the activity rates

Select the appropriate cost driver for each cost pool and calculate the activity rates if Harbour wanted to implement an ABC system

  Find what is the mark-up percentage

What is the mark-up percentage? A firm employs average assets of $600 000 and calculates its mark-up on full cost based on a desired return

  According to martin and steele 2010 p13 the two principal

according to martin and steele 2010 p.13 the two principal professional associations in australia - cpa australia the

  Calculate fixed cost-variable cost

Calculate the unknowns for the following independent situations. All given activity levels are within the relevant range.

  Will make the investment if the manager is compensated

If the manager is compensated based on residual income, will she make the investment? The Central division of NLH, Inc. is considering an investment

  Which type of failure has occurred even though the site

Which type of failure has occurred? If soup processing facility suffers catastrophic failure due to load shedding (interruption of electricity supply).

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