Compute the price variance and efficiency variance

Assignment Help Accounting Basics
Reference no: EM133068580

Question - Maricol Company uses a standard costing system in connection with the manufacture of their product "X". Each unit of finished product contains 2 yards of a direct material. However, a 20% direct material spoilage calculated on input quantities occurs during the manufacturing process. The standard cost of the direct material is P3 per yard. For the month, the company purchased 100,000 yards of direct material for P350,000 and used 90,000 yards to produce 40,000 units of Material X. Compute the Price variance, Efficiency variance and Materials variance.

Reference no: EM133068580

Questions Cloud

Determining the convertible and municipal bonds : If you could invest in only one - stocks (including preferred stocks), mutual funds (including ETFs), bonds (including convertible and municipal bonds), treasur
Does telework increase or decrease productivity : Your critical thinking assignment should articulate your problem or opportunity in a concise and informative way. Define the Problem Statement.
What is the portfolio expected return : The table below summarizes the expected returns and standard deviations of stock A and B. The correlation coefficient between the two stocks is 0.7.
What is the present value of the bank equity : ESG Prime Bank has an obligation of $750 at the end of the first period and $550 at the end of the second period.
Compute the price variance and efficiency variance : For the month, the company purchased 100,000 yards of direct material for P350,000. Compute the Price variance and Efficiency variance
Testing the efficient market hypothesis : a). Briefly discuss three forms of market efficiency. Include in your discussion the information sets involved in each form and the relationships across informa
Process for developing project management plan : Discuss the process for developing a Project Management Plan. How does a project's schedule and budget impact the project as a whole?
Calculate the operating cash flows at the end of year : Calculate the operating cash flows at the end of year 1. (Round to two decimals)
Determine the transfer price : The Audio Division needs 18,000 component AZ for the second half of the year 2019. Determine the transfer price

Reviews

Write a Review

Accounting Basics Questions & Answers

  Describe the establishment of cookie jar reserves

describe the establishment of cookie jar reserves as a significant audit issue. However, the text states that they very rarely are involved in frauds.

  What is the amount of net income to non-controlling interest

ABC and XYZ have net income in 20x6 of P293,000 and P802,000 respectively. What is the amount of net income to non-controlling interest in 20x6

  Calculate the total cost per unit for Chevalier and Dame

Assuming that Lyon Productions uses activity-based costing (ABC) to apply overhead to production, calculate the total cost per unit for Chevalier and Dame

  What is greg allowable depreciation deduction

He did not electa Sec. 179 deduction for the van. What is Greg's allowable depreciation deduction for 2010

  Pat purchased 10 of nellie bell on january 1 2010 for

pat purchased 10 of nellie bell on january 1 2010 for 400000 cash and did not have the ability to exercise significant

  Quality control

Quality Control

  Determine the sources of funding

Determine why funding is needed for the company. Determine the sources of funding. Consider self-funding, borrowing, loans, equity, venture capital, etc.

  How saints ltd should recognise the exploration costs

Discuss how Saints Ltd should recognise the exploration costs under appropriate Australian Accounting Standards? Justify your answer.

  Calculate the cumulative actual cost

The Activity A is 100% complete. However, Activity B is only 75% complete. Calculate the cumulative Actual Cost for task A & B

  What is deltas current value per share

Note that Delta has $20 million in debt and 10 million common shares outstanding. What is Deltas current value per share

  Identify several accounts from the income statement

Review Apple, Microsoft, or Alphabet's most recently published income statement, balance sheet, and statement of cash flows. State which company you selected.

  Explain the moral system of Kant

Explain the moral system of Kant. Explain what Kant regards as the only good and why. Explain the categorical imperative

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