Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires specialplastic. During the quarter ending June 30, the company manufactured 3,100 helmets, using 2,170 kilograms of plastic. The plasticost 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 allowed2.Standard cost allowed for actual output3.Materials spending varianceMaterials price varianceMaterials quantity variancePrev1 of 8Next >...search24/8 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 allowed2.Standard cost allowed for actual output3.Materials spending variance4.Materials price varianceMaterials quatity variancePrev1 of 8Next >arch2:45 F4/8/2040no 11144insert14

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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 plas 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?

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 plas 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?

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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