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McDaniel Company manufactures 100-pound bags of fertilizer that have the following unit standard costs for direct materials and direct labor:
Direct Materials (100 lbs. @ $1.00 per lb.) $100.00Direct Labor (0.5 hours at $24 per hours ) $12.00Total Standard prime Cost per 100 lb. bag $112.00The following activities were recorder for October:• 1,000 bags were manufactured.• 95,000 lbs. of materials costing $76,000 were purchased.• 102,500 lbs. of materials were used.• $12,000 was paid for 475 hours of direct labor.There were no beginning or ending work-in-process inventories.Required:A) Compute the direct material variances.What is the Material Price Variance? Favorable or unfavorable?What is the Material Usage Variance? Favorable or unfavorable?Show Work for each.B) Compute the Direct Labor Variances.What is the labor rate variance? Favorable or unfavorable?What is the Labor efficiency variance? Favorable or unfavorable?Show work for each.C) C. Give possible reasons for the occurrence of each of the preceding variances.
(a) Calculate Mexico's producer surplus and consumer surplus in autarky. (b) Calculate the number of Mexican imports with as well as without the Tarriff. (c) Calculate Mexico
The file A1Q1 contains data for the percentage change in the price of 50 shares selected at random from the Australian Stock Exchange. The data refer to the percentage change in th
Q. Why communities begin using FCA? There are several reasons why communities start by means of FCA. For instance: • To elucidate more evidently MSW costs to people. • It is
Production of a particular product costs $50 per material, $80 per labour and variable overhead is 75% of labour cost. If the selling price per unit is $230 and fixed cost amounts
Smith Corp. has determined that its contribution margin, (P - MC)/P, is 40%. A recent market research study found the following relationship between adverting outlays and sales rev
1) The Svelte Jeans Company produces two different types of jeans. One is called the "Simple Life" and the other is called the "Fancy Life". The company sales budget estimates that
TYPES OF VARIANCES Variances are computed for the entire three basic elements of cost - direct labour, direct material, and overhead variance 1. Direct labour variance 2.
Lapsol limited manufacture electrical appliances for the export market. The management of the company are considering investing in one of two possible capital expenditure projects.
Suppose that you are the chief financial officer at Porter Memorial Hospital. The CEO has asked you to analyze two proposed capital investment-Project X and Project Y. Every proj
Question The statements of comprehensive income for three entities for the year ended 30 September 2009 are presented below: SOT PB UV
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