Direct material variances in addition to the information

Assignment Help Cost Accounting
Reference no: EM13912639

Direct material variances In addition to the information for Acme Company in Mini Exercises 15.1 and 15.2, the standard direct material cost per unit consists of 10 pounds of raw material at $0.80 per pound. During August, 198,000 pounds of raw material were used that were purchased at $0.75 per pound.
In Mini Exercise 15.1, Acme Company's production budget for August is 17,500 units and includes the following component unit costs: direct materials, $8; direct labor, $10; variable overhead, $6. Budgeted fixed overhead is $32,000. Actual production in August was 18,000 units.In Mini Exercise 15.2, In addition to the information for Acme Company in Mini Exercise 15.1, actual unit component costs incurred during August include direct materials, $8.25; direct labor, $9.45; variable overhead, $6.82. Actual fixed overhead was $33,500.

Required:

Calculate the materials price variance and materials usage variance for August.

Reference no: EM13912639

Questions Cloud

Release the ball at a height : You throw a ball from the balcony onto the court in the basketball arena. You release the ball at a height of 6 m above the court, with an initial velocity equal to 9 m/s at 33° above the horizontal.
The net cash flow from investing activities : The net cash flow from operating activities The net cash flow from investing activities The net cash flow from financing activities
Does a deterministic algorithm exist for the given case : Does a deterministic algorithm exist for this case? Give a randomized algorithm that is partially correct, process-term­ inates with probability one.
Compare effectiveness of two numerical methods : Compare the effectiveness of the above two numerical methods as the step size is decreased. You should consider accuracy, speed and storage space (for example the matrix of the linear system must be stored for the first case).
Direct material variances in addition to the information : Calculate the materials price variance and materials usage variance for August.
Calculate the labor rate variance and labor efficiency : Calculate the labor rate variance and labor efficiency variance for August.
Red riding hood pulling : Red was not going to let go easily, so she pulled on the handle with a force of 12 N. If the net force on the basket is straight up, at what angle was Red Riding Hood pulling?
Prove there exist no deterministic algo for election in ring : Prove that there exists no deterministic algorithm for election in rings of known, even size where communication is by synchronous message passzng.
Calculate the variable overhead spending variance : Calculate the variable overhead spending variance and the variable overhead efficiency variance.

Reviews

Write a Review

Cost Accounting Questions & Answers

  Babb company is a manufacturing firm that uses job-order

babb company is a manufacturing firm that uses job-order costing. the companys inventory balances were as follows at

  Describe the current marketing communication

Describe the current marketing communication, identity, and brand position of Plaza Home Health Services.

  Effects of long-term bond investment on morgan stanley

Show all financial statement effects of long-term bond investment on Morgan Stanley's balance sheet and income statement at December 31, 20X0.

  Determine the total estimated uncollectibles

Allowance for Doubtful Accounts has a credit balance of $1,200 prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimate of bad debts is as follows.

  Springfield express is a luxury passenger carrier in texas

springfield express is a luxury passenger carrier in texas. all seats are first class and the following data are

  Humes corporation makes a range of products the companys

humes corporation makes a range of products. the companys predetermined overhead rate is 16 per direct labor-hour which

  Question1 briarcrest condiments is a spice-making firm

question1. briarcrest condiments is a spice-making firm. currently it developed a new process for producing spices. the

  Abby corp adds raw materials to production at the beginning

abby corp. adds raw materials to production at the beginning of the process in the assembly dept. materials data for

  Prepare a selling expense budget for the month of june

Refer to information from QS 22-10. Grace pays a sales manager a monthly salary of $ 6,000 and a commission of 8% of camera sales (in dollars). Prepare a selling expense budget for the month of June.

  How much cash did the company receive

Prepare an effective-interest amortization table for the bond discount through the first two interest payments. Use exhibit 11A-1 as a guide, and round amounts to the nearest dollar.

  What are the advantages of target costing

What is the impact of target costing on profitability ? What are the advantages of target costing? What are the costs of non-conformance?

  Managing prescription drug costs

Managing Prescription Drug 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