Evaluate the material purchase price variance

Assignment Help Financial Accounting

Reference no: EM135631

In July, 2010, Zinger Corp, purchased 20,000 gallons of Numerol for $61,000 to use in the production of product 43MR7. In July, Zinger Corp. manufactured 3,900 units of product 43MR7. The subsequent information is available about standard and actual quantities and costs:

Standard for on One unit Actual usage for July

Direct material 4.8 gallons @$ 3 per gallon 18,350 gallons

Direct labor 20 minutes @$ 9 per DLH 1,290 DLHs @$ 9.02 per DLH

a. Evaluate the material purchase price variance and the material quantity variance.

b. Evaluate the labor rate, labor efficiency, and total labor variance.

Reference no: EM135631

Questions Cloud

Various combinations of scores : Budget line showing the various combinations of scores on the two exams that she can achieve with a total of 400 minutes of studying.

Evaluate the budgeted net income : Evaluate the budgeted net income. Ignore income taxes. Management is trying to decide how several possible conditions or decisions might affect net income.

Wto role in international trade is more significant : On one hand, the WTO's role in international trade is becoming more significant. On the other hand, its verdict on the Brazil's Embraer versus Canada's Bombardier case did not seem to solve the problem.

Gain recognition and basis computation : What are Zia's and Jed's bases in their new AlphaBeta stock and what is the net amount of gain identified by Jed, Zia, Alpha, and Beta on the reorganization

Evaluate the material purchase price variance : Evaluate the material purchase price variance and the material quantity variance and evaluate the labor rate, labor efficiency, and total labor variance.

United nation department of economic : The United Nation's Department of Economic and Social Affairs, Population Division, tracks the total number of foreign-born people by nation.

Evaluate the cash balance : Evaluate the cash balance at the end of the first year for Alpaca Corporation

Supply and demand model : Use supply and demand model to explain the dramatic rise in the price of a college education.

Advises the payroll department : The payroll bank account is reconciled by the chief accountant, who also prepares the several quarterly and annual tax reports.

User Account

All Pages