Harvest Grain Company uses a standard cost system to collect costs related to the production of its "honey oat" cereal. The materials standard for each batch of cereal produced is 2.5 pounds of oats at a standard cost of $2.25 per pound. During the month of September, Harvest purchased 125,000 pounds of oats at a total cost of $293,750. Harvest used all of these oats to produce 48,000 batches of cereal. What is Harvest's materials quantity variance for the month of September?

Harvest Grain Company uses a standard cost system to collect costs related to the production of its "honey oat" cereal. The materials standard for each batch of cereal produced is 2.5 pounds of oats at a standard cost of $2.25 per pound. During the month of September, Harvest purchased 125,000 pounds of oats at a total cost of $293,750. Harvest used all of these oats to produce 48,000 batches of cereal. What is Harvest's materials quantity variance for the month of September?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 6PB: Box Springs. Inc., makes two sizes of box springs: queen and king. The direct material for the queen...

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Box Springs, Inc., makes two sizes of box springs: twin and double. The direct material for the twin is $25 per unit and $40 s used in direct labor, while the direct material for the double is $40 per unit, and the labor cost is $50 per unit. Box Springs estimates it will make 5,000 twins and 9,000 doubles in the next year. It estimates the overhead for each cost pool and cost driver activities as follows: How much does each unit cost to manufacture?
Magno Cereal Corporation uses a standard cost system to collect costs related to the production of its "crunchy pickle" cereal. The materials standard for each batch of cereal produced is 1.4 pounds of pickles at a standard cost of $3.00 per pound. During the month of August, Magno purchased 78,000 pounds of pickles at a total cost of $253,500. Magno used all of these pickles to produce 60,000 batches of cereal. What is Magno's materials quantity variance for the month of August?
Magno Cereal Corporation uses a standard cost system for its "crunchy pickle" cereal. The materials standard for each batch of cereal produced is 1.4 pounds of pickles at a standard cost of $3.00 per pound. During the month of August, Magno purchased 78,000 pounds of pickles at a total cost of $253,500. Magno used all of these pickles to produce 60,000 batches of cereal. What is Magno's materials quantity variance for August? $1,500 Unfavorable $18,000 Favorable $19,500 Unfavorable $54,000 Unfavorable a. b. C. d.
Can you please solve these general accounting question?
Almond Treats manufactures various types of cereals that feature almonds. Acme Cereal Company has approached Almond Treats with a proposal to sell the company its top selling cereal at a price of $24,252 for 20,000 pounds. The costs shown are associated with production of 20,000 pounds of almond cereal: Almond Treats cost data Costs Amounts Direct material $12,592 Direct labor 5,810 Manufacturing overhead 8,638 The manufacturing overhead consists of $2,424 of variable costs with the balance being allocated to fixed costs. If Almond Treats buys the cereal, what is the effect on profit? If the effect is negative, use a dash - not parentheses ().
Almond Treats manufactures various types of cereals that feature almonds. Acme Cereal Company has approached Almond Treats with a proposal to sell the company its top selling cereal at a price of $20,304 for 20,000 pounds. The costs shown are associated with production of 20,000 pounds of almond cereal: Almond Treats cost data Costs Direct material Direct labor Manufacturing overhead Amounts $13,788 3,690 8,000 The manufacturing overhead consists of $2,505 of variable costs with the balance being allocated to fixed costs. If Almond Treats buys the cereal, what is the effect on profit? If the effect is negative, use a dash - not parentheses ().
Almond Treats manufactures various types of cereals that feature almonds. Acme Cereal Company has approached Almond Treats with a proposal to sell the company its top selling cereal at a price of $22,000 for 20,000 pounds. The costs shown are associated with production of 20,000 pounds of almond cereal: Almond Treats cost data Costs Amounts Direct material $13,000 Direct labor 5,000 Manufacturing overhead 7,000 A) The manufacturing overhead consists of $2,000 of variable costs with the balance being allocated to fixed costs. What are the total relevant costs? B) The manufacturing overhead consists of $2,000 of variable costs with the balance being allocated to fixed costs. If Almond Treats buys the cereal, what is the effect on profit? If the effect is negative, use a dash - not parentheses ( ).
Almond Treats manufactures various types of cereals that feature almonds. Acme Cereal Company has approached Almond Treats with a proposal to sell the company its top selling cereal at a price of $22,000 for 20,000 pounds. The costs shown are associated with production of 20,000 pounds of almond cereal: Direct material $13,100 Direct labor 5,000 Manufacturing overhead 6,900 Total $25,000 The manufacturing overhead consists of $2,200 of variable costs with the balance being allocated to fixed costs. A. Calculate the differential cost of Acme? B. Should Almond Treats make or buy the almond cereal? Make v Feedback
Almond Treats manufactures various types of cereals that feature almonds. Acme Cereal Company has approached Almond Treats with a proposal to sell the company its top selling cereal at a price of $22,000 for 20,000 pounds. The costs shown are associated with production of 20,000 pounds of almond cereal: Direct material $13,000 Direct labor 4,900 Manufacturing overhead 7,000 Total $24,900 The manufacturing overhead consists of $2,000 of variable costs with the balance being allocated to fixed costs. A. Calculate the differential cost of Acme? $fill in the blank 1 B. Should Almond Treats make or buy the almond cereal?
Almond Treats manufactures various types of cereals that feature almonds. Acme Cereal Company has approached Almond Treats with a proposal to sell the company its top selling cereal at a price of $22,000 for 20,000 pounds. The costs shown are associated with production of 20,000 pounds of almond cereal: Almond Treats cost data Costs Direct material Direct labor Manufacturing overhead Amounts $13,000 5,000 7,000 The manufacturing overhead consists of $2,000 of variable costs with the balance being allocated to fixed costs. Should Almont Treats make or buy the almond cereal? [Select]
Almond Treats manufactures various types of cereals that feature almonds. Acme Cereal Company has approached Almond Treats with a proposal to sell the company its top selling cereal at a price of $22,000 for 20,000 pounds. The costs shown are associated with production of 20,000 pounds of almond cereal: Direct material $13,000 Direct labor 5,000 7,000 Manufacturing overhead Total $25,000 The manufacturing overhead consists of $2,000 of variable costs with the balance being allocated to fixed costs. PLEASE NOTE: Costs per unit are rounded to two decimal places and shown with "$" and commas as needed (i.e. $1,234.56). All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). 1. What is Almond Treats' relevant cost? 2. What does Acme's offer cost? 3. If Almond Treats accepts the offer, what will the effect on profit be? o Incremental dollar amount = . Increase or Decrease? Please note: Your answer is either "Increase" or "Decrease" - capital…
Almond Treats manufactures various types of cereals that feature almonds. Acme Cereal Company has approached Almond Treats with a proposal to sell the company its top selling cereal at a price of $21,800 for 20,000 pounds. The costs shown are associated with production of 20,000 pounds of almond cereal: Direct material $13,000 Direct labor 5,100 Manufacturing overhead 7,100 Total $25,200 The manufacturing overhead consists of $2,200 of variable costs with the balance being allocated to fixed costs. A. Calculate the differential cost of Acme? $fill in the blank 1 B. Should Almond Treats make or buy the almond cereal? Make or buy?