Need answer Dant Industries, Inc. reported actual grossprofit of $125,000. Dant also reported thefollowing variances:. Materials Price Variance: $920 F•••Materials Quantity Variance: $1,500 FLabor Price Variance: $1,000 ULabor Quantity Variance: $2,300 F. Overhead Variance: $2,100 FWhat is Dant's gross profit at standard?

Explanation of Gross Profit:Gross profit is the financial gain a company makes after deducting the…

Answered: Dant Industries, Inc. reported actual…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 22E

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Recompute the variances from the second Acme Inc. exercise using $0.0725 as the standard cost of the material and $14 as the standard labor cost per hour. How has your explanation of the variances changed?
What is dant gross profit at standard?
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What is dant's gross profit at standard?
abcd?
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Compute for the following and indicate if its FAVORABLE or UNFAVORABLE Format: 11,111 F or 11,111 U 1. Cost price variance = 2. Cost volume variance= 3. Total gross profit variance=
Rayan Ltd has provided the following information:Quantity (kg) Unit Rate (Rs.) Total (Rs.)StandardMaterial X 10 2 20Material Y 20 3 60Material Z 20 6 120Total 50 200ActualMaterial X 5 3 15Material Y 10 6 60Material Z 15 5 75Total 30 150You are required to compute the following and interpret the result:a) Material cost varianceb) Material price variancec) Material usage variance Do not give answer in image
What is the actual total direct materials cost for the current period???
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What is the actual total direct material cost for the correct period?
Oriole Company's actual results reveal that it was profitable in the sale of its star product: a high-end spot-cleaning vacuum for upholstery. But it was not nearly as profitable as management had hoped. Oriole's actual income statement and master budget income statement are as follows. In order to keep the focus on product costs, SG&A costs were omitted. Units sold Revenues Variable costs DM DL Variable-MOH Contribution margin Fixed-MOH Operating income DM DL Input Variable-MOH Actual Results Fixed-MOH 10,000 $1,670,000 560,500 216,000 Here are the company's standard cost cards for each product cost. 130,500 763,000 306,000 $457,000 Quantity Standards 3.0 yards 1.6 hours 1.6 hours. Flexible Budget 1.6 hours Price Standards $18.00 per yard $11.00 per hour $7.50 per hour $15.50 per hour Master Budget 12,000 $2,076,000 648,000 211,200 144,000 1,072,800 297,600 $775,200 Standard Cost per Unit $54.00 $17.60 $12.00 $24.80

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