User Account

All Pages

Compute the direct materials price and quantity variances

Assignment Help Accounting Basics
Reference no: EM131804870

Question - Lightin' Slow Co. has developed a new puzzle called the Brainbuster. The company has a standard cost system to help control costs and has established the following standards for the Brainbuster.

Direct Materials: 8 diodes per puzzle at $0.30 per diode

During a very mild August in Atlanta, Lightnin' Slow Co. actually produced 5,000 Brainbuster puzzles. These 5,000 puzzles used 50,000 diodes at an actual cost $0.28 per diode. All 50,000 diodes were used and there was no ending inventory.

Required: Compute the Direct materials price and quantity variances. Use the back of your answer sheet.

Reference no: EM131804870

Questions Cloud

Review problem-customer contact matrix : When bringing a product to market it is critical to understand the marketplace and what consumers are willing to purchase.
Using sales dollars as the measure of output : Using sales dollars as the measure of output, what is the percentage change in productivity (dollars output per labor hour) from April to May?
Effective e-commerce site : What retailer(s) do you think has a very effective e-commerce site? What makes it so effective?
Making the problem worse : Review the case "Making the Problem Worse" on pages 147-150.Spector.B. implementing organizational change, 3rd edition • Using PowerPoint
Compute the direct materials price and quantity variances : Lightin' Slow Co. has developed a new puzzle called the Brainbuster. Compute the Direct materials price and quantity variances
What is the concept of operations management : What is your concept of operations management? Where does it fit within your own company?
Implementing organizational change : Review the case "Making the Problem Worse" on pages 147-150.Spector.B. implementing organizational change, 3rd edition
Prepare an income statement for grove company : Accumulated Depreciation 4,800. Prepare an income statement and a retained earnings statement for Grove Company
Calculate sirens manufacturing cost per unit : Siren Company builds custom fishing lures for sporting goods stores

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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