Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Standard Costing and Variance Analysis
Chemical Manufacturing Ltd makes a cleaning product known as SuperClean by mixing three materials: A, B, and C. The standard material mix and cost to produce 9 litres of SuperClean is as follows:
5 litres of material A at $17.00 per litre
$85.00
3 litres of material B at $15.00 per litre
$45.00
2 litres of material C at $12.00 per litre
$24.00
$154.00
A standard loss of 10% of input is expected to occur.
Actual inputs used and costs incurred were as follows:
53,000 litres of material A at $16.90 per litre
$895,700
28,000 litres of material B at $15.30 per litre
$428,400
19,000 litres of material C at $12.20 per litre
$ 231,800
100,000 litres
$1,555,900
The actual output for the period was 92,700 litres of SuperClean.
Required:
1. Calculate the price and mix variance for each material used.
2. Calculate the total material yield and total material usage variance.
3. Comment on your calculations to help explain what has happened to the material yield variance.
Institutional economics and neo-classical economics. Off-hand, which of the two seems like a more sensible approach? What are some of the elements you agree or disagree with?
Describe the audit steps that generally would be followed in establishing the propriety of the recorded liability for federal income taxes of a corporation you are auditing for the first time.
Calculate the contribution per CD unit, break-even volume in CD units and dollars, net profit if 1 million CDs are sold and necessary CD unit volume to achieve a $200,000 profit.
The expected return on plan assets and the settlement rate were both 8%. Determine the pension expense to be reported in 2011. Prepare the journal entry to record pension expense and the employers' contribution to the pension plan in 2011.
Prepare a schedule for each of the three years (2014-2016) in which you summarize the transactions as they affect permanently restricted, temporarily restricted, and unrestricted net assets.
Assuming that you have developed a pattern of average % collections over a three or four month collection period, using quantitative or qualitative methods, do you think you can then use this % model to budget cash collections every month in the c..
Neither has any dependents nor itemized deductions. Based only on tax considerations, what marriage date would you recommend for the loving couple? How much would your choice save in taxes?
Prepare the stockholders’ equity section of the balance sheet immediately after these transactions have been recognized.
Determine a budget variance and a volume variance and determine a budget variance and a volume variance for fixed manufacturing overhead costs for the year
Journalize the transactions of November 10. What is balance in Treasury Stock on December 31 of the current year?
Cobden had initially estimated that it would work 55,000 direct labour hours during the year and incur $330,000 of manufacturing overhead cost. Illustrate what was Cobden Manufacturing Company's manufacturing overhead cost for the year?
Find a website that details factoring receivables. E xplain b riefly to the class what factoring receivables is, why a company would factor their receivables, and the advantages of doing so?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd