What is the materials price variance for lucy corporation

Assignment Help Managerial Accounting
Reference no: EM132962150

The Lucy Corporation purchased and used 129,000 board feet of lumber in production, at a total cost of $1,548,000. Original production had been budgeted for 22,000 units with a standard material quantity of 5.7 board feet per unit and a standard price of $12 per board foot. Actual production was 23,500 units.

?Problem 1: The materials price variance is

Reference no: EM132962150

Questions Cloud

Does mediation intervention work : Does Mediation Intervention work?
What makes a manager a great leader : In 2-3 paragraphs, respond to the following. Your initial post should be substantive and be supported by course concepts.
Find the labor rate variance for bowie sporting : Determine the labor rate variance. In the month of April, the company actually produced 5,200 sleeping bags using 27,300 yards
Explain the statement with appropriate arguments : Both systemic and non-systemic crises damage the real economy by- preventing the normal flow of credit from savers to entrepreneurs/businesses
What is the materials price variance for lucy corporation : What is the materials price variance. The Lucy Corporation purchased and used 129,000 board feet of lumber in production, at a total cost of $1,548,000.
Why underperformance can emerge within a business : Give FOUR reasons why underperformance can emerge within a business
Minimize the limitations typical : Develop a change plan that would minimize the limitations typical in either a Downsizing or Restructuring initiative (CH 10), or a Merger or Acquisition (CH 12)
How will the bonds affect account balances : How will the bonds affect account balances and total asset and liability amounts in future years of statement of financial position
Discuss the term security : First, define and then discuss the term "security" with respect to today's workplace. Then, discuss in detail at least two actions an employer can take to minim

Reviews

Write a Review

Managerial Accounting Questions & Answers

  What was the growth rate in earnings per share

Ten years ago, Kronan Corporation earned $0.50 per share. Its earnings this year were $2.8. What was the growth rate in earnings per share

  What company labor quantity variance is

What Company labor quantity variance is and Company's total labor variance is and Company's labor price variance is and Material price variance is

  Demonstrate the company break-even point in unit sales

Demonstrate the company's break-even point in unit sales. In its third year, Haas produced 40,000 units and sold 65,000 units. The selling price of the company

  Prepare a report to recommend about abc model

HI5017 Managerial Accounting - You are required to prepare a report to recommend about ABC model for your company - An explanation of how ABC model aligns

  Solve the free cash flow

Calculate free cash flow. Suppose Canwest Global Communications Corp. reported net cash used by operating activities of $114,992,900.

  What was ajay master budget profit and actual profit

By how much did Ajay's profit increase or decrease in December due to changes in sales volume (i.e., what was the sales volume variance)?

  How many new clients must visit the law firm

Josef Manuel, Determine how many new clients must visit the law firm for the venture to break even during its first year of operations.

  Which underlying assumption of cost-volume-profit analysis

Managers can vary selling prices, costs, and volume and can observe the effects of each change on the break-even point and profit using

  What is the unit cost below which forever ready company

What is the unit cost below which Forever Ready Company should not go in bidding on the government contract? Accepting Business at a Special Price

  Comment on the cost-based transfer pricing method

Use this case to comment on the Cost-based transfer pricing method (that is, setting transfer price at variable cost plus a mark-up)

  Solve the number of tickets which must be sold

Comment on the factors, which you think, the company might consider in choosing between the fixed fee and percentage fee alternative.

  How much revenue from franchise fee be recognized

Pasta Inn charges an initial fee of P1,600,000 for a franchise, How much revenue from franchise fee be recognized when the agreement is signed?

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