Calculate the total materials variance

Assignment Help Managerial Accounting
Reference no: EM132446397

Question - Given: Aco manufactures sleep pads/ Manufacturing standards per sleep pad based on 4,500 sleep pads per month:

Direct material of 5.25 at $5.00 per yard

Direct labor of 2 hours at $18.00 per hour

Overhead applied per sleep pad at $15,00

In April Aco actually produced 5,100 sleep pads using 27,250 yards of material at a cost of $5.25 per yard. Labor used was 11,250 hours at an average rate of $20.25 per hour. Actual overhead spending was $96,000.

Required - Calculate the total materials variance.

Reference no: EM132446397

Questions Cloud

Calculate the FY Cost of Goods Sold : Given: Sales 9,000 units @ $14 each, Total production 10,000 units and Direct labor $2.00. Calculate the FY Cost of Goods Sold
How is contract and consumer law regulated in australia : How is contract and consumer law regulated in Australia? In your explanation make reference to statute law, common law and equitable principles
Good job in identifying risks for project : You are ready to move forward with your project, but you realize you have not done a good job in identifying risks for your project
How would incorporate source into the memo and the FAQ : Briefly, how you would incorporate the source into the memo and the FAQ. How is your use of the source different based on the type of writing you are doing?
Calculate the total materials variance : In April Aco actually produced 5,100 sleep pads using 27,250 yards of material at a cost of $5.25 per yard. Calculate the total materials variance
What is the purpose of using correlation analysis : What is the purpose of using correlation analysis? How may correlation analysis be used in business decisions or in relation to strategy formulation
Calculate the Labor rate variance : The company actually produced 5,100 sleeping bags using 27,000 yards of material at a cost of $5.50 per yard. Calculate the Labor rate variance
Write about obesity in Miami Dade County : Write Informative speech and outline about obesity in Miami Dade County.specific purpose statement,introduction(hook and thesis statement)
Calculate Contribution Margin Percentage : Given total used to create CVP income statement; Sales (100 units) $10,000, Direct labor $1,000. Calculate Contribution Margin Percentage

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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