What is the materials quantity variance for the month

Assignment Help Financial Accounting

Reference no: EM131216366

Gazelle Company has the following materials standards have been established for a particular product:

Standard quantity per unit of output 2.0 meters

Standard price $ 10.00 per meter

The following data pertain to operations concerning the product for the last month:

Actual materials purchased 3,000 meters

Actual cost of materials purchased $ 40,000

Actual materials used in production 2,500 meters

Actual output 1,200 units

What is the materials quantity variance for the month?

Reference no: EM131216366

Questions Cloud

Types of financial information contained : Distinguish between the types of financial information contained in the various financial statements. Which statements provide information on a company’s performance over a reporting period, and which presents data on a company’s current position?

Analyze how emotion and culture affected the process : Explain the role that inductive and deductive reasoning play in the decision-making process. Analyze how emotion and culture affected the process. Describe the problem solving strategies that you would use to resolve the challenges associated with yo..

Data pertain to operations at mongoose incorporated : The following data pertain to operations at Mongoose Incorporated: Throughput time 10 hours Delivery cycle time 2 hours Process time 5 hours Queue time 1 hours The combined inspection and move time for this operation would be:

Leased aircraft on its balance sheet after lease is signed : Albertsen Corporation is considering proposals for either leasing or purchasing aircraft. The proposed lease agreement involves a twin-engine turboprop Viking that has a fair value of $1,000,000. This plane would be leased for a period of 10 years be..

What is the materials quantity variance for the month : Gazelle Company has the following materials standards have been established for a particular product: What is the materials quantity variance for the month?

Describe the underlying principles of erikson theory : Describe each stage of Erikson's theory. Include in your description of each stage an analysis of a character that best represents that stage of life. The character can be from a television show, a movie, or a literary character from a book. You c..

Payback period formula to get the annual net cash inflow : Cotswold Corporation has invested in a machine that cost $126,000, that has a useful life of seven years, and that has no salvage value at the end of its useful life. The machine is being depreciated by the straight-line method, based on its useful l..

What is the probability of completing building project : What is the probability of completing building project in 9 weeks - What is the associated cost of the entire project given your actions? If you provide just generalizations here, you will receive no credit.

Compute the relevant costs for the expansion decision : From the scenario for Katrina's Candies, determine the relevant costs for the expansion decision, and distinguish between the short run and the long run costs.

User Account

All Pages