Can you answer this accounting question? Bandar Industries manufactures sporting equipment. One of the company'sproducts is a football helmet that requires special plastic. During the quarterending June 30, the company manufactured 4,000 helmets, using 2,200kilograms of plastic. The plastic cost the company $14,520.According to the standard cost card, each helmet should require 0.50kilograms 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 tomake 4,000 helmets?2. What is the standard materials cost allowed (SQ × SP) to make 4,000helmets?3. What is the material's spending variance?4. What is the material's price variance and the material's quantity variance?

Step 1: Define VariancesThe materials spending variance is the difference between the standard…

Answered: Bandar Industries manufactures sporting…

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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Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,100 helmets, using 2,170 kilograms of plastic. The plasti cost the company $14,322. According to the standard cost card, each helmet should require 0.65 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 3,100 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3.100 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.) 1. Standard quantity of kilograms allowed…
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Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 4,000 helmets, using 2,200 kilograms of plastic. The plastic cost the company $14,520. According to the standard cost card, each helmet should require 0.50 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 × SP) to make 4,000 helmets? 3. What is the material's spending variance?
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