Determine the price variance

Assignment Help Accounting Basics
Reference no: EM13138567

Diamond Company produces a chair that requires 5 yds. of material per unit. The standard price of one yard of material is $7.50. During the month, 8,500 chairs were manufactured, using 43,700 yards at a cost of $7.60. Determine the (a) price variance, (b) quantity variance, and (c) cost variance.

Reference no: EM13138567

Questions Cloud

Define filter has steadily increasing attenuation : A filter has the following characteristics: Attenuation is 0 dB from 0 Hz to 2.5 kHz. Phase angle decreases linearly with increasing frequency above 2.5 kHz. Above 5 kHz the filter has steadily increasing attenuation.
Impact of external influences on health care organizations : Impact of External Influences on Health Care Organizations
Find the probability that thirty customers paid by credit : What is the probability that 30 or more paid by credit? d. What is the probability that less than 12 paid by credit? e. What is the probability that 12 to 30 paid by credit?
Interest expense apportioned to us source income : Global World's worldwide asstes have an adjusted basis of $5,000,000 and a value of $10,000,000, of which assets having an adjusted basis of $4,000,000 and a value of $6,000,000 generate U. S.-source income. How much of the interest expense is app..
Determine the price variance : Determine the (a) price variance, (b) quantity variance, and (c) cost variance -  Diamond Company produces a chair that requires 5 yds. of material per unit.
What concerns might you have on this : It looks like The Butcher Block is going to meet analyst expectations after all. Do you think James Wright's proposal to more accurately reflect the true depreciable life of assets is ethical? What concerns might you have?
Hamlet or shakespeare on the internet : Find a web site relevant to   Hamlet   or Shakespeare on the Internet; Post a link and a minimum- 50 -word review of the site here.
Explain what parameter of the rectangular pulses : The location of the zeroes in the spectrum suddenly changes to 5 kHz, 10 kHz, 15 kHz.... What parameter of the rectangular pulses has changed and what is its new value?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Identify the two principal discounted cash flow methods

Give an example of a situation where transfer pricing might be used and discuss what method a company might choose to calculate it. In your answer, define what a transfer price is, how it can be calculated, and why a company might use it.

  What is the balance in accumulated depreciation

Rollins Company purchased a depreciable asset for $300,000 on April 1, 2008. The estimated salvage value is $30,000, and the estimated total useful life is 5 years. The straight-line method is used for depreciation. What is the balance in accumula..

  Statements concerning interim financial reports

Which of the following statements concerning interim financial reports is incorrect?

  What information do you give to the client

When you request the additional information from the client, she tells you that she has no more documentation and that is all you can be given.

  Amount of saleas dollar at the break even point

Oxford company had sales of $3 000 000, variable expenses of $1 800 000, and fixed expenses of $800 000. what would be the amount of saleas dollar at the break even point.

  Manipulating the value of the yuan

Describe the principles on which the Big Mac Index is built and how it might help you as an international manager.

  Statements regarding the taxation of c corporation

Which of the following statements is correct regarding the taxation of C corporation?

  Objective questions - accounting questions

A is a fixed expense; B is a variable cost. During the current year the level of activity has reduced but is still within the relevant range.

  Current events in recent industrial history

Discuss the current events in recent industrial history to reduce the usefulness of direct labor as the primary basis for allocating overhead to products. What is your view of this practice?

  Total selling expenses for the specific month

For March, sales revenue is $800,000; sales commissions are 4% of sales; the sales manager's salary is $80,000; advertising expenses are $75,000; shipping expenses total 1% of sales; and miscellaneous selling expenses are $2,100 plus 3/4 of 1% of ..

  Differences between tax and accounting income

Woody Corp. had taxable income of $8,000 in the current year. The amount of MACRS depreciation was $3,000 while the amount of depreciation reported in the income statement was $1,000. Assuming no other differences between tax and accounting income..

  Date of the financial statements

At the date of the financial statements, common stock shares issued would exceed common stock shares outstanding as a result of the

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