Evaluate the price and efficiency variances

Assignment Help Accounting Basics
Reference no: EM13528405

Price and efficiency variances. Peterson Foods manufactures pumpkin scones. For January 2009, it budgeted to purchase and use 15000 pounds of pumpkin at $0.89 a pound. Actual purchases and usage for January 2009 were 16.000 pounds at $0.82 a pound. It budgets for 60.000 pumpkin scones. Actual output was 60,800 pumpkin scones.

1. Compute the flexible-budget variance.

2. Compute the price and efficiency variances.

3. Comment on the above results and provide a possible explanation for them.

Reference no: EM13528405

Questions Cloud

Evaluate the orbital speed of the satellite : A satellite is placed in orbit 9.00 105 m above the surface of the planet Jupiter. Jupiter has a mass of 1.90 1027 kg and a radius of 7.14 107 m. Find the orbital speed of the satellite
Determine what does the first mass do : A 2.0 kg mass traveling at 3.0 m/s strikes another 2.0 kg mass traveling at -1.0 m/s. They collide and have a complete elastic collision. what does the first mass do
What are the magnitude and direction of block acceleration : A 2.0 kg block slides on a frictionless 25o inclined plane. What are the magnitude and direction of the block's acceleration
What is the magnitude of the electric field due to the disk : The magnitude of the electric field due to a disk of radius 3 m and a uniformly distributed positive charge is measured to be 150 N/C at a location in the air 6 mm from the center of the disk, what is the magnitude of the electric field due to the ..
Evaluate the price and efficiency variances : Compute the flexible-budget variance and compute the price and efficiency variances.
Explain what is the mass of the stone : How many moles of calcium oxalate are present in the kidney stone? If this kidney stone is entirely calcium oxalate, what is the mass of the stone
Determine how far would the yardstick fall : suppose you were on the moon instead of on the earth. Assuming your average reaction time is the same, how far would the yardstick fall
Prepare a tabular analysis of the transactions : Prepare a tabular analysis of the transactions using the following column headings: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Owner's Capital, Owner's Drawings, Revenues, and Expenses.
Compute the grams of water formed during the reaction : How many grams of oxygen would be used to completely react with 1290 grams of pentanone? then calculate the grams of water formed during this reaction

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine participation in net income

Determine participation in net income of $37,500 if income is divided (a) in the ratio of capital investments; (b) in the ratio of time worked.

  Negotiating with foreign suppliers

A company wants to buy $30 million in materials and services from suppliers in China, Japan, and South Korea. Discuss how the company would negotiate using the win-win model. What sort of strategies would it use?

  The january beginning invenshytory of white company

the january beginning invenshytory of the white company consisted of 300 units costing 40 each. during the first

  What is the project net present value

A project will require an initial investment of $750,000 and will return $200,000 each year for five years. If taxes are ignored and the required rate of return is 9%, what is the project's net present value? Based on this analysis, should the com..

  Evaluate the risk management measures

Describe the risks which are faced by the firm. Evaluate the risk management measures available to firm.

  What is cottons capital balance after this new investment

Bishop has a capital balance of $ 120,000 in a local partnership, and Cotton has a $ 90,000 balance. These two partners share profits and losses by a ratio of 60 percent to Bishop and 40 percent to Cotton. Lovett invests $ 60,000 in cash in the pa..

  Calculate the overhead allocation rate

Calculate the overhead allocation rate. Compute the amount of under- or overallocated overhead. Calculate the ending balances in work in process, finished goods and cost of goods sold if under overallocated overhead is:

  Firm willingness to pay dividends

A decrease in a firm's willingness to pay dividends is likely to result from an increase in its:

  Budget of a governmental unit

When the budget of a governmental unit is adopted and appropriations are more than Estimated Revenues, the difference is :

  Why is preferred stock less risky

Why is Preferred Stock less risky? I would think that since they take precedence over the Common Stock holders that they would hold the same or more risk?

  Selected balances from a companys financial statements are

selected balances from a companys financial statements are shown below. calculate the followinga accounts receivable

  Reclassification adjustment affects other comprehensive

If an available-for-sale investment is sold for which there are unrealized gains in accumulated other comprehensive income (AOCI), a reclassification adjustment affects other comprehensive income (OCI) in the period of sale by

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