Determine the total materials variance

Assignment Help Managerial Accounting
Reference no: EM133072457

Question - Bowie sporting goods manufacture sleeping bags. The manufacturing standards Per sleeping bag, based on 5000 sleeping bags per month, are as follows:

Direct material of 4.00 yards at $5.80 per yard

Direct labor of 3.00 hours at $17 per hour

Overhead applied per sleeping bag at $18

In the month of April, the company actually produced 5200 sleeping bags using 27,300 yards of material at a cost of $5.90 per yard. The labor used was 11,700 hours at an average rate of $17.50 per hour. The actual overhead spending was $96,200.

Determine the total materials variance and round to the nearest whole dollar. Enter a new favorable variance as a positive number. Enter an unfavorable variance as a negative number.

Reference no: EM133072457

Questions Cloud

Benefits of category management : In more simplified format and at your own words please advise What are the benefits of category management?
Philosophical and ethical foundation : Your Project for this class is a community action plan designed to alleviate or correct a public health issue in your community. Y
BUSP 1202 Business Principles Assignment : BUSP 1202 Business Principles Assignment Help and Solution, Durham College - Assessment Writing Service - What major advantages did Electra gain
What is the beta on a stock : What is the beta on a stock with an expected return of 5%?
Determine the total materials variance : The labor used was 11,700 hours at an average rate of $17.50 per hour. The actual overhead spending was $96,200. Determine the total materials variance
What is portfolio beta : You have a $10000 portfolio consisting of Intel, GE, and Con Edison. You put $3950 in Intel, $2260 in GE, and the rest in Con Edison. Intel, GE, and Con Edison
Identifying the responses and reasons : Consider the following situation. Identifying the responses and your reasons for them.
Votes based on the correct interpretation : What measures would you consider ethical and moral, if any, to ensure that the voting public is educated to cast their votes based on the correct interpretation
Potential stock purchase : Wally is thinking about using cash on hand to make some investments. One of these investments is into Truro Farms (TF). TF's stock is trading at $60.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd