Computing materials price variance

Assignment Help Accounting Basics

Reference no: EM13143864

The Porter Company has a standard cost system. In July the company purchased and used 22,500 pounds of direct material at an actual cost of $53,000; the materials quantity variance was $1,875 Unfavorable; and the standard quantity of materials allwed for July production was 21,750 pounds. What is the materials price variance for July?

Reference no: EM13143864

Questions Cloud

Interest in a limited liability company : In june 2009, joanne invested for a 20% interest in a limited liability company in which she is a material participant. The LLC reported losses of $340,000 in 2009 and $180,000 in 2010. Joanne's share of the LLC's losses was $68,000 in 2010 and $3..

Find the minimal number of days a person must watch : What is the minimal number of days a person must watch to be at least 96.8% sure of seeing one or more hawks migrating?

Define the freezing-point depression measurement of benzoic : The freezing-point depression measurement of benzoic acid in acetone yields a molar mass of 122 g; the same measurement in benzene gives a value of 242 g

Describe ways in which the information produced : List these steps in the sequence in which they would normally be performed. Describe ways in which the information produced through the accounting cycle is used by a company’s management and employees.

Computing materials price variance : In July the company purchased and used 22,500 pounds of direct material at an actual cost of $53,000; the materials quantity variance was $1,875 Unfavorable; and the standard quantity of materials allwed for July production was 21,750 pounds. What..

Demand for energy in the united states : The demand for energy in the United States is often described as persistently non-cyclical and not sensitive to prices effects. Describe the effect of each of the following on the demand or supply for gasoline.

Compute the concentration of an aqueous solution : Trees in cold climates may be subjected to temperatures as low as -60 C. Estimate the concentration of an aqueous solution in the body of the tree that would remain

Discuss relevant returns as they relate to financial return : Discuss relevant returns as they relate to financial return perspectives. Provide examples of returns from both the project and parent perspectives

Calculate the proceeds of the bond : Calculate the proceeds of the bond. Assume the same facts as above except assume that the bonds are sold on April 30, 2004, four months into the first interest period and they are sold at par.

User Account

All Pages