Business, 21.12.2019 00:31 shannonderemer
Marvel parts, inc., manufactures auto accessories. one of the company’s products is a set of seat covers that can be adjusted to fit nearly any small car. the company uses a standard cost system for all of its products. according to the standards that have been set for the seat covers, the factory should work 2,850 hours each month to produce 1,900 sets of covers. the standard costs associated with this level of production are:
per set of covers
direct materials $42,560 $22.40
direct labor $17,100 9.00
variable manufacturing overhead
(based on direct labor-hours) $6,840 3.60
$ 35.00
during august, the factory worked only 2,800 direct labor-hours and produced 2,000 sets of covers. the following actual costs were recorded during the month:
total per set of covers
direct materials (12,000 yards) $45,600 $22.80
direct labor $18,200 9.10
variable manufacturing overhead $7,000 3.50
$35.40
at standard, each set of covers should require 5.6 yards of material. all of the materials purchased during the month were used in production.
required:
1. compute the materials price and quantity variances for august. (indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i. e., zero variance). round your intermediate calculations to 2 decimal places.)
2. compute the labor rate and efficiency variances for august. (indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i. e., zero variance). round your intermediate calculations to 2 decimal places.)
3. compute the variable overhead rate and efficiency variances for august. (indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i. e., zero variance). round your intermediate calculations to 2 decimal places.)
Answers: 2
Business, 21.06.2019 16:30, pattydixon6
Suppose the number of firms you compete with has recently increased. you estimated that as a result of the increased competition, the demand elasticity has increased from –2 to –3 (i. e., you face more elastic demand). you are currently charging $10 for your product. what is the price that you should charge if demand elasticity is -3?
Answers: 3
Business, 22.06.2019 02:00, gracye
Kenney co. uses process costing to account for the production of canned energy drinks. direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. equivalent units have been calculated to be 19,200 units for materials and 16,000 units for conversion costs. beginning inventory consisted of $11,200 in materials and $6,400 in conversion costs. april costs were $57,600 for materials and $64,000 for conversion costs. ending inventory still in process was 6,400 units (100% complete for materials, 50% for conversion). the total cost per unit using the weighted average method would be closest to:
Answers: 2
Business, 22.06.2019 11:00, sbelgirl2000
Consider an economy where government expenditures are 10 and total tax revenues are 10. the supply of labor is fixed at 125 and the supply of capital is fixed at 8. the economy is described by the following equations. y k to the power of 1 divided by 3 end exponent l to the power of 2 divided by 3 end exponent c 2.5 + 0.75 ( y - t ) i 10 - 0.5 r the level of private savings is
Answers: 1
Marvel parts, inc., manufactures auto accessories. one of the company’s products is a set of seat co...
Biology, 10.10.2021 14:00
Chemistry, 10.10.2021 14:00
English, 10.10.2021 14:00
Chemistry, 10.10.2021 14:00
Mathematics, 10.10.2021 14:00
English, 10.10.2021 14:00
English, 10.10.2021 14:00
Law, 10.10.2021 14:00
Mathematics, 10.10.2021 14:00
Mathematics, 10.10.2021 14:00