Is stiner company materials price variance

Assignment Help Financial Accounting
Reference no: EM13510984

1. Stiner Company has a materials price standard of $2.00 per pound. Five thousand pounds of materials were purchased at $2.20 per pound. The actual quantity of materials used was 5,000 pounds, although the standard quantity allowed for the output was 4,500 pounds.
Stiner Company's materials price variance is
A)$100 U.
B)$1,000 U.
C)$900 U.
D)$1,000 F.

2. Stiner Company has a materials price standard of $2.00 per pound. Five thousand pounds of materials were purchased at $2.20 per pound. The actual quantity of materials used was 5,000 pounds, although the standard quantity allowed for the output was 4,500 pounds.
Stiner Company's materials quantity variance is
(A)$1,000 U.
(B)$1,000 F.
(C)$1,100 F.
(D)$1,100 U.

3. Stiner Company has a materials price standard of $2.00 per pound. Five thousand pounds of materials were purchased at $2.20 per pound. The actual quantity of materials used was 5,000 pounds, although the standard quantity allowed for the output was 4,500 pounds. Stiner Company's total materials variance is
(A)$2,000 U.
(B)$2,000 F.
(C)$2,100 U.
(D)$2,100 F.

Reference no: EM13510984

Questions Cloud

Determine the cause of underapplied or overapplied overhead : Determine the cause of the underapplied or overapplied overhead for the year by computing the variable overhead rate and efficiency variances and the fixed overhead budget and volume variances.
Find the potential difference between terminals of a battery : What is the potential difference between the terminals of a battery that can impart 6.8×10?19 \rm J to each electron that moves between the terminals
Find the flow rate through the hole : A container of cross-sectional area 107 cm2 contains liquid of density 2.35 g/cm3 to a height of 6.90 cm above a small hole of area 1.00 cm2 in the side. Find the flow rate through the hole
What is loris productivity : Lori thinks that by redesigning the package, she can increase her total productivity to 133 care packages per day. What will be her new productivity?
Is stiner company materials price variance : Stiner Company has a materials price standard of $2.00 per pound. Five thousand pounds of materials were purchased at $2.20 per pound. The actual quantity of materials used was 5,000 pounds, although the standard quantity allowed for the output wa..
Effect of order quantity on special order decision : Effect of Order Quantity on Special Order Decision - Awtrey Quilting Company makes blankets that it markets through a variety of department stores. It makes the blankets in batches of 1,000 units. Awtrey made 20,000 blankets during the prior accoun..
Use of the automobile as additional compensation : Victor has the full-time use of a company owned Jaguar automobile. This year Victor drove 24,000 miles for business and 10,000 personal miles
Calculate return on assets : Income before income tax was $200,000, and income taxes were $80,000 for the current year.
What do you think the effect would be if congress changes : What do you think the effect would be if Congress changes the law so that retirement plan contributions are included in taxable income at the time they are made rather than taxing the payment when received in retirement?

Reviews

Write a Review

 

Financial Accounting Questions & Answers

  What amount must be remitted to the state for october sale

company doesn't ring up sales taxes separately on cash register total receipts for october amounted to $18900. if sales tax rate is 5%, what amount must be remitted to the state for October's sales tax?

  What amount of loss should sox report on it income statement

On December 31, Hack reported a net loss of $6 million for the year. What amount of loss should Sox report on its income statement for 2011 relative to its investment in Hack?

  Perform vertical analysis on the income statements

Perform vertical analysis on the income statements and balance sheet information for fiscal periods 2011 and 2010.

  Will corporations obtain a greater charitable contribution

Will corporations obtain a greater charitable contribution deduction for the current year by filing a consolidated tax return or separate tax returns?

  Taxes in government accounting and operations

Types of Funds and taxes in government accounting and operations.

  Impairment of intangibles

Multiple Choice Questions Amortization, impairment of intangibles - what amount should be reported as amortization expense

  1 describe the problems characterized in this case2 what

1. describe the problems characterized in this case.2. what are the likely causes of these problems?3. what are

  Determination of net worth

Determination of net worth - Can you think of any additional information you would like know about Xavier Metals to help you answer this question more thoroughly?

  Q1 conan companys monthly activity level ranged from a low

q1. conan companys monthly activity level ranged from a low of 17000 units in may to a high of 26000 units in october.

  Drawing a graph using cost and variable costindicate the

drawing a graph using cost and variable cost.indicate the effect that each of the following conditions will have on a

  What is total cash outflow

what is total cash outflow through maturity total borrowing cost over life if bond interest expense for the year amortization for the year unamortized premies as of december bond carrying value as of december

  How will total dividend be divided between common stock

The company declares a total dividend of $ 200,000. If the dividends on preferred stock are one year in arrears ( in addition to the current year), how will total dividend be divided between the common and preferred stock?

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