User Account

All Pages

Find What is the direct materials cost? variance

Assignment Help Managerial Accounting
Reference no: EM132579478

Oceanside Marine Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. Oceanside uses standard costs to prepare its flexible budget. For the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows:

Direct materials: 1 pound per unit; $ 11 per pound

Direct labor: 4 hours per unit; $ 18 per hour

  • Oceanside produced 1000 units during the quarter. At the end of the quarter, an examination of the direct materials records showed that the company used 6500 pounds of direct materials and actual total materials costs were $ 99,600

Question 1: What is the direct materials cost variance? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)

Reference no: EM132579478

Questions Cloud

Find What is the direct materials efficiency? variance : What is the direct materials efficiency variance? Allen produced 3,000 units during the quarter. At the end of the quarter, an examination.
State three purposes for preparing a cash book : August 30 The bank notified Vincent K that it had charged RM20 bank charges to his account. State three purposes for preparing a Cash Book
What happens during intron splicing of messenger rna : What happens during intron splicing of messenger RNA? How does alternative splicing affect the proteins that are made in a cell?
Practical application of introducting a recombinant gene : Describe one practical application of introducting a recombinant gene into plant cells that is directly beneficial to humans.
Find What is the direct materials cost? variance : Find What is the direct materials cost? variance? (Round any intermediate calculations to the nearest? cent, and your final answer to the nearest? dollar.)
Compute the balance of the home office account : On dec.31, the inventory in branch, Compute the balance of the Home Office account on the branch book as of Dec.31 before its adjustment.
Calculate the labor rate variance : The labor used was 11,700 hours at an average rate of $18.50 per hour. The actual overhead spending was $96,200. Calculate the labor rate variance
Essay - music concert paper : Essay - Music concert paper - write a paper that synthesizes information from the provided materials, the video of the concert, and your own experience
Design and submit a concept map : Design and submit a concept map on what you have learned. It should include concepts and connections between concepts including:

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Explain the information provided by the schedule of cost

Prepare an income statement for the current year. Explain the information provided by the schedule of cost of goods sold. Nani's Fashions for the current year

  Calculate the net benefit of accepting the special order

Calculate the net benefit (cost) of accepting the special order. Tobitzu TV produces wall mounts for flat panel television sets,forecasted income

  Calculate the margin of safety in dollars

Calculate expected profit.  Calculate the margin of safety in dollars.

  Discuss the wisdom of requiring the training operation

Discuss the wisdom of requiring the training operation to earn a profit.

  Indicate whether the variances are favorable

Calculate the material price variance and the material quantity variance related to the M640 electrical relay. Indicate whether the variances are favorable or unfavorable.

  Balances in selected accounts

At December 31, 2014, before adjusting entries, the balances in selected accounts were: Accounts Receivable $318,400 debit, and Allowance for Doubtful Accounts $4,040 credit. Assume that 11% of accounts receivable will prove to be uncollectible. Prep..

  What is defined as the giving away and sharing of power

What is defined as the giving away and sharing of power with those who need it to perform their job. In spite of the difficulty in changing the culture

  Identify the method of calculating cost for the company

Identify the method of calculating cost for the company - Determine if the cost method the company has chosen is most appropriate and explain three (3) reasons

  Key variances between budgeted and actual results

Calculate the flexed budget and the key variances between budgeted and actual results and reconcile the original budget and present the relationship between the budgeted and the actual profit for the month November

  What the total sales necessary to break even are

A company has total fixed costs of $120,000 and a contribution margin ratio of 20%. The total sales necessary to break even are ?

  Find the overhead application rate per hour will

20,000 machine hours will be worked during 2014. If overhead is applied on the basis of direct labor hours, the overhead application rate per hour will

  What are the behavioral consequences of the way budgets

What are the behavioral consequences of the way budgets are being used at PrimeDrive? Is Granger Stokes using budgets as a planning and control tool?

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