Question 11--/1View PoliciesCurrent Attempt in ProgressA company developed the following per-unit standards forits product: 2 gallons of direct materials at $8 per gallon.Last month, 1000 gallons of direct materials werepurchased for $7600. The direct materials price variancefor last month wasO $7600 favorable.O $400 favorable.O $200 favorable.$400 unfavorable.hpinsprt sflVAAf10f9f6 10f74+f5%D8.7PIY/100CO

Given:Standard rate = $8 per gallonActual Quantity = 1000 gallonsActual Price = $7,600 for 1000…

Answered: Question 11 --/1 View Policies Current…

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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QUESTION 4 (S) 20 Direct material cost: ($) 20 Direct labor cost: 10 The following anticipated data are for the next year of operations: Per unit Variable production overhead 10 Variable nonproduction overhead 5 They are estimated the fixed production overhead; fixed nonproduction overhead of 5'mil 0.9 and 5'mil 0.1 respectively. There is no opening inventory; budgeted production and sales volume is 120,000 units. Requirements: 1. Compute product cost under absorption costing and unit selling price if the markup percentage is 50% of product cost. 2. If the company want to achieve target net income of $'mil 3.6, how many percentages of margin on variable cost should be applied
L 19
Exercise 8-7A (Algo) Evaluating a decision to increase sales volume by lowering sales price LO 8-3, 8-4 Finch Educational Services had budgeted its training service charge at $82 per hour. The company planned to provide 37,000 hours of training services during Year 3. By lowering the service charge to $67 per hour, the company was able to increase the actual number of hours to 38,200. Required a. Determine the sales volume variance, and indicate whether it is favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). b. Determine the flexible budget variance, and indicate whether it is favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). c. Did lowering the price of training services increase revenue? a. Volume variance b. Flexible budget variance c. Was the decision profitable ? Sales
Unit VII question 14
Question 15 nts View Policies Current Attempt in Progress The direct materials budget shows: upport Desired ending direct 48000 pounds materials 66000 pounds Total materials required 60200 pounds Direct materials purchases The total direct materials needed for production is 5800 pounds. O 126200 pounds. O 18000 pounds. O 12200 pounds. hp tsd Ins prt sc 19 fil 44 & 5 7 Y D
Vinubhai
Question 23 v Saved Dreamworks Ltd. produces dream spheres. Projected sales and production for 2021 are as follows: 2021 1 2 4 Quarter (Jan - Mar) (Apr - Jun) (Jul - Sep) (Oct - Dec) Expected Sales (units) 30,000 33,000 38,000 35,000 Unit Selling Price $75 $75 $75 $75 Expected Production (units) 30,300 33,500 37,700 35,100 Manufacturing overhead consists of variable costs of $9 per unit produced and annual fixed costs of $2,000,000. Selling and administrative expenses consist of sales commissions of 15% of sales and fixed costs of $248,000 per quarter. Required: a) What is the total manufacturing overhead for the fourth quarter? (Use the space below to show your work) b) What are the total Selling, General and Administrative expense for the fourth quarter? (Use the space below to show your work) U v II Paragraph B I + Part a) Add a File Record Audio Record Video
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Question 9 The yearly demand for a screen is 120,000 pc. Average cost per piece is $100; holding cost rate is 20%; changeover (setup) time for the presses is 2 hours; and cost of downtime for changing over is $300/hr. Calculate: (a) the economic batch size , and (b) the total annual inventory cost. A None of these is correct (a) 1,897 pc, (b) $45,806.48 C (a) 2,683 pc, (b) $53,665.63 D (a) 34,641 pc, (b) $90,932.6
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