I need help solving 2 and 3 I am stuck. Check my workSouthside Pizzeria wants to improve its ability to manage the ingredient costs associated with making and selling its pizza.For the month of June, the company plans to make 1,000 pizzas. It has created a planning budget that includes a costformula for mozzarella cheese of $2.40 per pizza. At the end of June, Southside actually sold 1,100 pizzas and the actualcost of the cheese that it used during the month was $2,632.Required:1. What is the mozzarella cheese activity variance for June?2. What is the mozzarella cheese spending variance for June?3. Assume that the company establishes a price standard of $0.30 per ounce for mozzarella cheese and a quantity standarof eight ounces of cheese per pizza. Also, assume that Southside actually used 9,400 ounces of cheese during the monthto make 1,100 pizzas.a. What is the materials price variance for mozzarella cheese for June?b. What is the materials quantity variance for mozzarella cheese for June?c. What is the materials spending variance for mozzarella cheese for June?Complete this question by entering your answers in the tabs below.< Prev1 of 4Next >.... ....Y

Solution:- 1)Calculation of the mozzarella cheese activity variance for June as follows under:-

Answered: I need help solving 2 and 3 I am stuck.

Business

Accounting

I need help solving 2 and 3 I am stuck.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Use EMBG's adjusted trial balance to prepare EMBG's balance sheet for the current year-end. EMBG…

A: Definition: Balance sheet: To Know the financial position of the business balance sheet is prepared.…

Q: The last part the reciporcal method is wrong. The other 2 are correct.

A: Reciprocal method : According to this method, service departments may actually give as well as…

Q: I can't get the right answer becases there is more quantity

Q: Some answers are not correct. Can you provide me a solution aligned with the correct/key answer…

A: The production cost report is prepared under the FIFO method or the weighted average method. The…

Q: Part B is incorrect please provide correct answer. I provided feedback long ago and it still hasn't…

A: An accounting theory known as revenue recognition specifies the timing and procedures for when and…

Q: Explain the principal-agency problem. Can you propose one potential solution for this problem to…

A: The Principal-agency problem is one of the most common problems in modern businesses. It refers to…

Q: Could you please explain the process by which you got these answers? I am trying to learn how to do…

A: Workings: Preparation of schedule of expected cash collections:

Q: The solution is showing as not correct. not sure where you got some of those number either.

A: Here discuss about the details of calculation of taxable income which can be differentiated from…

Q: Having a hard time working out the problem

A: The following computations are done for Nakashima Gallery.

Q: All of the answers you gave me is incorrect

A: Material variance is the difference between the actual cost of direct materials and the expected…

Q: Creative thinking is the ability to look at things differently, and find new ways of solving…

A: creative thinking means applying the intelligence and solving the problems and development of the…

Q: IFRS16 allows lessees not to recognise a right-of-use asset or a lease liability for certain types…

A: The right-of-use asset is a lessee's right to use an asset over the life of a lease. It is recorded…

Q: I already found the correct answers for a. and b. but they do not match what is here... The correct…

A: Value of a firm now is essentially the sum of present values of all its future cash flows. This is…

Q: . You plan to deposit P100 into a savings account at the end of each month for the next 5 years. a.)…

A: Given, Amount deposited is P100 Number of years 5

Q: Need more explaniation for part C but I don't think it's the right answer. I got a different answer…

A: Preferred stocks carry a fixed rate of dividend and these are preferred in payment of dividends as…

Q: C19. What do you understand by the Twin Balance Sheet problem? Note:- Do not provide handwritten…

A: The Twin Balance Sheet problem refers to the stress on balance sheets of both the banking sector and…

Q: See below. I just need help with the red box with the 20,000 answer in it. It came back as…

A: As you have asked for help on the red box only so I'm explaining on that only. Please see Step 2 for…

Q: Q3. Ricardo plans to own a 1 hectare lot after 10 years for an estimated cost of P5M. To accumulate…

A: Time value of money: The time value of money is the idea that the value of money received today will…

Q: Which one is an advantage of 1 point secondary data O Already exists O May be outdated

A: Solution- Step (1) - Secondary Data Secondary data is that the information that has already been…

Q: Can you explain on how to find the calculations for all parts for B, C and D? This is where it gets…

A: Here,Number of Shares Outstanding before purchase is 4,700,000Long Term Debt Issues is…

Q: (c)Plug in the given in the formula if there is a derivation of the formul

A: The given information: Annual salary = 60,000increasing =5,000 yearInterest rate=10%Time period=8…

Q: Company W acquired a wastewater treatment plant for 30,000, depreciable over 10 years. The company…

A: Government grant means the amount received from government free of cost. It is received by specified…

Q: Identify the Given and the Unknown or what is being asked in the problem (b)Provide the formula to…

A: Deposits which are made by the depositor into the bank will earn an income on it which is known as…

Q: Why can cost benefit analysis be difficult to carry out?

A: Introduction: Cost benefit analysis can be defined as a process which is undertaken by an…

Q: Individual primary users have different and possibly conflicting information needs and desires. ,…

A: Since we answer only one question, we will answer the first one. Please resubmit the question. 9.…

Q: What is the biggest cause for the orange county failure?

A: In the year of 2014, Orange County, which was a prosperous district in Southern California declared…

Q: Q7: What is the value of a perpetuity of P100 per year if the discount rate is 5%, 7%, 11%? Answer:…

A: An unlimited string of identical cash flows is referred to as the perpetuity notion. In order to…

Q: rovide a short narrative of your analysis of the problem. Explain what theories/ concepts apply,…

A: Introduction:- CVP analysis is used to identify the changes in costs and volume affect a company's…

Q: solution

A: The term "present value" (PV) refers to the value at the current time of a quantity of money or…

Q: b) Given an annual effective rate of i = 5%, find i(12). %3D

A: Effective interest rate is that interest rate which is being adjusted for compounding for a given…

Q: How do you measure the success of a project? 2.How do you handle failure? Brainwriting is an idea…

A: Measuring the success of a project can be done by considering the following factors: Meeting…

Q: What I dont understand from this question is the incorrect answers that I have in the picture which…

A: Under remeasurement method: Opening Net Assets = Cash 20,000 + Accounts receivable 80,000 - Notes…

Q: 4- Are you agree with the phrase (sentence): "In the following case, a risky person may prefer…

A: The question is related to Expected Net Present Value, Standard Deviation. The Expected Net Present…

Q: he answer is marked as incorrect, i don't know what's wrong I've tried everything

A: The depreciation methods are classified as 1. Straight line method 2. Reducing balance method 3.…

Q: Hello, the second half of this problem was not solved. Can you please provide explanation for part 4…

A: According to cost behavior, costs can be classified into :Variable cost - These are the type of…

Q: Which qualitative characteristic is an ingredient of relevance? O understandability O materiality O…

A: Answer

Q: The solution provided was incorrect. Can you re work it?

A: A current loan or debt obligation is replaced with a new loan through the financial strategy of…

Q: ot correct, some calculations are wrong, can you try again

A: Since the payments are made in the beginning of the period, the formula used will be an annuity due.…

Q: Hi, my name is Jennifer. I am having trouble with this same problem. But the sub-parts I need help…

A: Please find the answer to (C) in the previous answer. I am going to answer only (D) & (E) in…

Q: Are you agree with the phrase (sentence): "In the following case, a risky person may prefer project…

A: formula Expected NPV = Net Present Value × Probability Standard deviation is a measure of risk.…

Question

I need help solving 2 and 3 I am stuck.

Check my work
Southside Pizzeria wants to improve its ability to manage the ingredient costs associated with making and selling its pizza.
For the month of June, the company plans to make 1,000 pizzas. It has created a planning budget that includes a cost
formula for mozzarella cheese of $2.40 per pizza. At the end of June, Southside actually sold 1,100 pizzas and the actual
cost of the cheese that it used during the month was $2,632.
Required:
1. What is the mozzarella cheese activity variance for June?
2. What is the mozzarella cheese spending variance for June?
3. Assume that the company establishes a price standard of $0.30 per ounce for mozzarella cheese and a quantity standar
of eight ounces of cheese per pizza. Also, assume that Southside actually used 9,400 ounces of cheese during the month
to make 1,100 pizzas.
a. What is the materials price variance for mozzarella cheese for June?
b. What is the materials quantity variance for mozzarella cheese for June?
c. What is the materials spending variance for mozzarella cheese for June?
Complete this question by entering your answers in the tabs below.
< Prev
1 of 4
Next >
.... ....Y

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

I still don't understand and the answer to project X, Y and Z isn't correct. I got a different answer.
Can i have the answers for all in formula steps not excel please. Kind of hard to understand.
Im having an issue with this problem. Thank you!
I have 4 problems that I need help finding the correct answer. In each problem an amount for the different categories has been left out so I have to find the unknown number for that account. This is the second time I am submitting these problems for help. The last person not only made numerous typos making it difficult to understand but they also did not reply in a clear manner to each problem. I am labeling the problems 1) 2) 3) and 4). If you could keep that format so it is less confusing I would appreciate it. Also I feel I was given the wrong answer to one of the the problems. So I will see if you come to the same answer.Problem 1Revenue $3000Dividends $2000Expenses $10001/1 Retained Earnings-amount unknown12/31 Retained Earnings $6000Problem 2Revenue $5000Dividends-amount unknownExpenses- $40001/1 Retained Earnings $800012/31 Retained Earnings $3000Problem 3Revenue $6000Dividends $0Expenses-amount unknown1/1 Retained Earnings $1200012/31 Retained Earnings $8000Problem…
I need your help tutor! This is how you answer the problem (a) Identify the Given and the Unknown or what is being asked in the problem (b)Provide the formula to be used (c)Plug in the given in the formula if there is a derivation of the formula please show it (d)Box the final answer. however, the final answer is already included in the problem, what you need to do is to match your answer and the answer in the book. Because in the book they only provide the answer but not the solution. Problem:
Please do not rely too much on chatgpt, because its answer may be wrong. Please consider it carefully and give your own answer. You can borrow ideas from gpt, but please do not believe its answer.Very very grateful!Please do not rely too much on chatgpt, because its answer may be wrong. Please consider it carefully and give your own answer. You can borrow ideas from gpt, but please do not believe its answer.Very very grateful!
I am confused on #36 of 3.3 in Finite Math for Business. My teacher wants me to find the interest using the TVM solver on my TI-84 and using the formula I=PRT. I am not sure what values to plug into my calculator though.
I am struggling to figure out how did you get answer 2. 1000 and 16. 4625 respectively.
I need your help tutor! This is how you answer the problem (a) Identify the Given and the Unknown or what is being asked in the problem (b)Provide the formula to be used (c)Plug in the given in the formula if there is a derivation of the formula please show it (d)Box the final answer. however, the final answer is already included in the problem, what you need to do is to match your answer and the answer in the book. Because in the book they only provide the answer but not the solution. Problem:
I don’t know how to solve for this
Please help! I have no clue on how to fill this table out!
It says they answers are wrong from your example.