User Account

All Pages

Compute the total and quantity variances for materials

Assignment Help Managerial Accounting
Reference no: EM132593738

Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.

Direct materials (8 pounds at $2.50 per pound) $20

Direct labor (3 hours at $12.00 per hour) $36

During the month of April, the company manufactures 230 units and incurs the following actual costs.

Direct materials purchased and used (1,900 pounds)   $5,035

Direct labor (700 hours)                                         $8,120

Instructions:

Question 1: Compute the total, price, and quantity variances for materials and labor.

Reference no: EM132593738

Questions Cloud

Prepare journal entry to record the sale of the building : The building had originally cost the company $21,600,000 and had accumulated depreciation to date of $20,790,000. Prepare journal entry to record the sale
Explain how electronic health records : Explain how Electronic Health Records (EHR) are used. Describe 1 technology that has an impact on health care delivery.
Why conventional financial accounting practices discourage : Why (traditional)conventional financial accounting practices discourage corporations from embracing sustainable business practices.
What are capital assets : Question - What are capital assets? How do you account for them on the tax return? Does it matter if an asset is capital or not
Compute the total and quantity variances for materials : Compute the total, price, and quantity variances for materials and labor. During the month of April, the company manufactures 230 units and incurs
Benefits of markets to improving outcomes for producers : Introduced the benefits of markets to improving outcomes for producers and consumers. Describe how marginal analysis, by avoiding sunk costs,
Compute the annual rate of return for each project : Compute the annual rate of return for each project. (Round to two decimals) (Hint: Use average annual net income in your computation).
Business Model Canvas : Create a PowerPoint presentation with 3 slides to present a smoke test. Using the gunshot detector business from the "Business Model Canvas".
Find the cost per equivalent unit of direct material : Annapolis uses the weighted-average process costing method. Use this information to find the cost per equivalent unit of direct material for the month of March

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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