### Compute the quantity and price variances for each budget

Assignment Help Accounting Basics
##### Reference no: EM13387152

Scenario:

MadHatter manufactures baseball caps. The Accounting Faculty of PSU order 150 caps for the Accounting 211 students with ALOE imprinted on them. MadHatter has the following set of standards for the manufacture of baseball caps.

DM: ½ yard of fabric per cap

\$4.00 per yard of fabric

DL: 1 labor hour per cap

\$11.00 per labor hour

After the caps were shipped, MadHatter analyzed the actual data from production and discovered the following results.

DM:¾ yard of fabric per cap

\$2.85 per yard of fabric

DL: 1.4 labor hours per cap

\$9.50 per labor hour

Assignment:

1. Determine the DM and DL budgets.

2. Calculate the Quantity and Price Variances for each budget and indicate whether each is favorable or unfavorable.

3. Provide explanations for the variances.

#### Questions Cloud

 Working capital techniques focus specifically on what : 1. working capital techniques focus specifically on what aspects of an organizations finances?2. what You want to make sure that the grading form reflects what : you are the newly appointed department manager. your department has not been performing well and you have been A description of the new cmo tranche and how it may or may : as a financial adviser to individual investors your boss has asked you to write a memo to him so that he can recommend For a labor-intensive manufacturing operation which would : 1. unit-based product costing uses which procedure?all overhead costs are expensed as incurred.overhead costs are Compute the quantity and price variances for each budget : madhatter manufactures baseball capsscenariomadhatter manufactures baseball caps. the accounting faculty of psu order An automobile gasoine tanks holds 42 kg of gasoline when : an automobile gasoine tanks holds 42 kg of gasoline. when the gasoline burns 147 kg of oxygen are consumed and carbon A 486 ml sample of water was cooled from 500acircdegc to : a 486 ml sample of water was cooled from 50.0acircdegc to 10.0acircdegc. assuming a specific heat of 4.184 jk g and a The carbonyl stretching frequency of aliphaticltbgt : the carbonyl stretching frequency of aliphaticltbgt carboxylic acids in dilute solution is located near 1770cm. this What mass of this substance must evaporate in order to : what mass of this substance must evaporate in order to freeze 230g of water initially at 16 degrees? the heat of fusion

### Write a Review

#### How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

#### Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

#### Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

#### Theory of interest - term structure of interest rates

Term Structure of Interest Rates

#### Write a report on internal controls

Write a report on Internal Controls

#### Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

#### Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

#### Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

#### Liquidity and profitability

Distinguish between liquidity and profitability.

#### What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

#### Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

#### Capm and venture capital

CAPM and Venture Capital