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Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 4,000 helmets, using 2,880 kilograms of plastic. The plastic cost the company $19,008. According to the standard cost card, each helmet should require 0.66 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 4,000 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 4,000 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) X Answer is not complete. Standard quantity of kilograms allowed Standard cost allowed for actual output Materials spending variance 1. 2,640 O 2. 18,480 3. $ 1,680 XU Materials price variance Materials quantity variance 4. 2$ 9,000 X 2$ 9,520

Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 4,000 helmets, using 2,880 kilograms of plastic. The plastic cost the company $19,008. According to the standard cost card, each helmet should require 0.66 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 4,000 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 4,000 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) X Answer is not complete. Standard quantity of kilograms allowed Standard cost allowed for actual output Materials spending variance 1. 2,640 O 2. 18,480 3. $ 1,680 XU Materials price variance Materials quantity variance 4. 2$ 9,000 X 2$ 9,520

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Can you help me with this? I’ve attached a photo of the problem as well as my work. You can see the last 3 parts to the question I’ve gotten wrong and idk how. Am I choosing the wrong Actual Quantity?
AQX AP 4000 X+6.6 $20,46619000 AQ XSP 4,00 X $7 $254000 Mareials price liaviane deo X 4,000 $7.00 $18,480 $1,6600 F Marevials Q vamanu こ9,520 0 spending vamance 2880 x $7 20/160 MArerials Qvaviance ニ
Transcribed Image Text:AQX AP 4000 X+6.6 $20,46619000 AQ XSP 4,00 X $7 $254000 Mareials price liaviane deo X 4,000 $7.00 $18,480 $1,6600 F Marevials Q vamanu こ9,520 0 spending vamance 2880 x $7 20/160 MArerials Qvaviance ニ
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 4,000 helmets, using 2,880 kilograms of plastic. The plastic cost the company $19,008. According to the standard cost card, each helmet should require 0.66 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 4,000 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 4,000 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) Answer is not complete. Standard quantity of kilograms allowed Standard cost allowed for actual output Materials spending variance 1. 2,640 O 2. 18,480 O 3. 2$ 1,680 X U 4. Materials price variance 2$ 9,000 X Materials quantity variance 2$ 9,520 X
Transcribed Image Text:Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 4,000 helmets, using 2,880 kilograms of plastic. The plastic cost the company $19,008. According to the standard cost card, each helmet should require 0.66 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 4,000 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 4,000 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) Answer is not complete. Standard quantity of kilograms allowed Standard cost allowed for actual output Materials spending variance 1. 2,640 O 2. 18,480 O 3. 2$ 1,680 X U 4. Materials price variance 2$ 9,000 X Materials quantity variance 2$ 9,520 X
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