Business, 11.12.2021 04:40 princessmaddiegigi
Calculating the Direct Materials Price Variance and the Direct Materials Usage Variance Guillermo’s Oil and Lube Company is a service company that offers oil changes and lubrication for automobiles and light trucks. On average, Guillermo has found that a typical oil change takes 20 minutes and 6.4 quarts of oil are used. In June, Guillermo’s Oil and Lube had 920 oil changes. Guillermo’s Oil and Lube Company provided the following information for the production of oil changes during the month of June: Actual number of oil changes performed: 920 Actual number of quarts of oil used: 6,660 quarts Actual price paid per quart of oil: $5.10 Standard price per quart of oil: $5.00 Required: 1. Calculate the direct materials price variance (MPV) and the direct materials usage variance (MUV) for June using the formula approach. If required, round your answers to the nearest cent. MPV$fill in the blank 1 MUV$fill in the blank 3 2. Calculate the total direct materials variance for oil for June. If required, round your answer to the nearest cent. $fill in the blank 5 3. What if the actual number of quarts of oil purchased in June had been 6570 quarts, and the materials price variance was calculated at the time of purchase? If required, round your answers to the nearest cent. What would be the materials price variance (MPV)? $fill in the blank 7 What would be the materials usage variance (MUV)?
Answers: 1
Business, 22.06.2019 02:30, llama1314
Sweeten company had no jobs in progress at the beginning of march and no beginning inventories. the company has two manufacturing departments--molding and fabrication. it started, completed, and sold only two jobs during march—job p and job q. the following additional information is available for the company as a whole and for jobs p and q (all data and questions relate to the month of march): molding fabrication total estimated total machine-hours used 2,500 1,500 4,000 estimated total fixed manufacturing overhead $ 10,000 $ 15,000 $ 25,000 estimated variable manufacturing overhead per machine-hour $ 1.40 $ 2.20 job p job q direct materials $ 13,000 $ 8,000 direct labor cost $ 21,000 $ 7,500 actual machine-hours used: molding 1,700 800 fabrication 600 900 total 2,300 1,700 sweeten company had no underapplied or overapplied manufacturing overhead costs during the month. required: for questions 1-8, assume that sweeten company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. for questions 9-15, assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. 1. what was the company’s plantwide predetermined overhead rate? (round your answer to 2 decimal places.) next
Answers: 2
Business, 22.06.2019 23:40, broang23
8. problems and applications q8there are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: consumers' willingness to payyvette: $35cho: $15sean: $45bob: $25firms' costsfirm a: $40firm b: $20firm c: $10firm d: $30each firm has the capacity to produce only one haircut. for should be given. which businesses should cut hair? check all that apply. firm afirm bfirm cfirm dwhich consumers should have their hair cut? check all that apply. bobchoseanyvettethe maximum possible total surplus is
Answers: 3
Calculating the Direct Materials Price Variance and the Direct Materials Usage Variance Guillermo’s...
History, 12.12.2021 18:10
Mathematics, 12.12.2021 18:10
Mathematics, 12.12.2021 18:10
Mathematics, 12.12.2021 18:10
Mathematics, 12.12.2021 18:10
Mathematics, 12.12.2021 18:10
Chemistry, 12.12.2021 18:10
English, 12.12.2021 18:10