User Account

All Pages

Compute the materials price variance

Assignment Help Accounting Basics
Reference no: EM131734597

Question - Beary Company produces stuffed bears. Based on their history they typically use 3 pounds of material for each bear, costing $5 per pound. Each bear is expected to have direct labor of 1 hour at a rate of $9.50. In the month of January the company produced 150,000 bears. They had direct materials of 455,000 pounds, costing on average $4.95. Direct labor was 142,000 hours at an average wage of $10.

1. Compute the Materials Price variance, Materials Usage variance and the Total Materials Variance

2. Compute the Labor Rate Variance, Labor Efficiency Variance, and the total Labor Variance.

3. Assume the company only investigates variances if they are $7,500 or more. Should they investigate? And if so, would the answer be different if they were to only look at the total variances?

Reference no: EM131734597

Questions Cloud

Give reasons quoting appropriate case law : Advise Cassie whether there is a binding contract with: (a) John; and/or Jenna. Give reasons quoting appropriate case law.
Value of properties for buying : Believe it or not, Bob has amassed quite a lot of human capital in the form of his property management expertise. For every 100,000 SF of property Bob manages.
Motivation behavior does this describe : She is motivated by changing her current state of fitness to a level that is more ideal. Which group of motivation behavior does this describe?
Each step of the business-to-business buying process : Briefly, explain what would happen at each step of the business-to-business buying process.
Compute the materials price variance : Beary Company produces stuffed bears. Compute the Materials Price variance, Materials Usage variance and the Total Materials Variance
Does the article assign responsibility to persons : Does the article assign responsibility to persons or processes for the problems or achievements it reports?
Calculate net present value of the investment opportunity : Callaghan has an average cost of capital of 10 percent. Calculate the net present value of the investment opportunity
Create two new qlineedits for name and symptoms respectively : Create two new QLineEdits for name and symptoms respectively. Create a new QSpinBox for year of birth. Set appropriate range of allowed values with setRange().
Name the website and describe the features : Now that we have become familiar with technology and web design, can you now identify a website (can be any website, retail, business etc.)

Reviews

Write a Review

Accounting Basics Questions & Answers

  Values for liquid assets

Their year-end financial reports for the final five years of independent operation give the following values for their liquid assets (Source: The Financial Times).

  Adcock corp had 500000 net income in 2007 on january 1 2007

adcock corp. had 500000 net income in 2007. on january 1 2007 there were 200000 shares of common stock outstanding. on

  Examine the annual report from the previous year

Examine the financial summaries for information about the fiscal condition of the organisation. Did the organisation show a profit

  Benefits of each inventory valuation method

Explain the benefits of each inventory valuation method you selected and how the inventory is valued. (This question can be expanded to further discuss each method of inventory valuation.)

  Natsam corporation has 250 million of excess cash the firm

natsam corporation has 250 million of excess cash. the firm has no debt and 500 million shares outstanding with a

  What is impact on net income over the two accounting periods

What is the impact on net income over the two accounting periods and What is the impact on net income over the two accounting periods

  Prepare a multiple step income statement for the year

The Able Company is a merchandising enterprise that uses the perpetual inventory system. Prepare a multiple step income statement for the year ended March

  Calculate the npv of the investment in the tablets

What is the NPV of Applebee's investment in tableside tablets for its restaurants? Calculate the NPV of the investment in the tablets using discount rate of 6%

  On january 2 2011 kinnard hospital purchased a 104150

on january 2 2011 kinnard hospital purchased a 104150 special radiology scanner from faital inc. the scanner has a

  The december 31 2013 balance sheet of schism inc showed

the december 31 2013 balance sheet of schism inc. showed long-term debt of 1465000 153000 in the common stock account

  Provide the total costs for the revenue departments

Harry Dorffman owns and operates Harry's Abstracting Service. Harry's two revenue generating operations (Abstracting Services and Closing Services) are supported by two service departments: Clerical and Custodial. Costs in the service departments ..

  What is a way for you to determine the financial health of

what is a way for you to determine the financial health of a company. name one and explain how it is computed? which

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