Question 2Johnson Co. makes organic non-GMO vegetable seed packets for the chef/gardener market. Thestandard material is 0.90 ounces per seed packet at a cost of $0.72 per ounce. Johnson Co.budgeted to make 65,000 seed packets but due to high demand, they ended up making 70,000packets. They paid $42,000 for 60,000 ounces of seed and used all but 5,000 ounces of thispurchase in production during the period.What is their material efficiency variance for this period? Enter a favorable variance is a positivenumber and an unfavorable variance as a negative number.Enter as a whole number, no commas and no dollar signs.Your Answer:Answer Ver

To calculate the material efficiency variance, we first need to find the standard quantity of…

Answered: Question 2 Johnson Co. makes organic…

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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2. What revenue would the sale of the breakeven quantity for $5.50 per gallon generate? IceLess is an anti-icing solution sold in gallon plastic jugs. It is poured into the windshield washer bottle of your car. Wash your windshield and the solution prevents the glass from icing over for about four hours. Production incurs the following fixed and variable costs. It is priced initially at $5.50 per gallon. Fixed costs (per year) Variable Costs per gallon Rent: $18000 Glycol: $1.50 Utilities: 13200 FreezeFree 312: .50 Managerial salaries: 20000 Mfg labor: .20 Flammability permit: 12000 Packaging: .20 Other fixed expense: 2400 Inert ingredients: .60 Total fixed: $65600 Advertising: .30 Total: $3.30
#4 Federal Holdings consumes about 72,000 kg of flour per year. The company is open 360 days a year, The ordering cost is RM15 per order and the supplier will deliver the order in 3 days. To overcome delivery uncertainties, the shop maintains a safety stock at a level of 5 days usage. Determine the company's Reorder Point (ROP) Answer 1800 units B 2,000 units 1.600 units 02014 - 2022 Chat With Us ENG 926 AM US 2/22/2022
PROBLEM 3 Present your answer as 1000 FAVORABLE OR 1000 UNFAVORABLE if applicable. MARINA Bottlers Inc, a leading softdrinks company is producing their bottle requirements. For each case of 24 eight-ounce bottles, the company prescribed the following standard product mix: Material A @ 2.4 lb,P50/lbs;Material B @ 6 lb,P22/lbs and Material C @ 1.6 lbs, P15/lb. During the month of August, 25,000 cases were produced from an input of: Material Pounds Cost/lb A 63,700 49.00 B 125,200 20.50 C 48,100 16.00 1. COMPUTE FOR THE MATERIALS MIX VARIANCE. 2. COMPUTE FOR THE MATERIALS YIELD VARIANCE.
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Nohe of the given answers O e The number of employees CLEAR MY CHOICE Company XYZ is a farming company. The company are famous for producing strawberries and blueberries. The variable cost of producing and selling one box of strawberries is $6, while the variable cost of producing and selling one box blueberries is $10. Each box of strawberries is selling for $20, while a box of blueberries sells for $26. The company produces and sells 5 boxes of strawberries for every 2 boxes of blueberries. Assuming a fixed cost of $204,000. How many boxes of strawberries need to be produced and sold to achieve breakeven? O a. 10,000 O b. None of the given answers O c. 4,000 O d. 800 O e. 2,000 CLEAR MY CHOICE NEXT PAGE S PAGE P3 x目 pe here to search DELL 近
5 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 3,300 helmets, using 2,541 kilograms of plastic. The plastic cost the company $16,771. According to the standard cost card, each helmet should require 0.68 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 3,300 helmets? 2. What is the standard materials cost allowed (SQxSP) to make 3,300 helmets? 3. What is the materials spending variance? 4. What are the materials price variance and the materials quantity variance? Note: 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…
Pick-Me-Up Company is introducing a new high caffeine coffee in its stores and must decide what price to set for the coffee beans. An estimated demand schedule for the product is as follows: Price 1 Lb. units demanded $4.50 85,600 $6.00 74,500 $7.50 56,000 $9.00 49,100 $10.50 34,800 $12.00 27,100 Estimated costs are as follows: Variable manufacturing costs per unit $1.50 Fixed manufacturing cost per year $38,200 Variable selling & administrative costs per unit $0.50 Fixed selling & administrative costs per year $20,900 Prepare a schedule showing management the total revenue, total cost, and total profit or loss for each selling price.At what price do you recommend Pick-Me-Up Company should choose.
Fresh to Go makes a variety of delicious and healthy smoothies. It's most popular drinks contain an imported pomegranate julce and Fresh to Go can only import 64,000 ounces of the juice per month. The juice is used to make 3 different types of smoathies: Pure Pom Cherry Pom Pom Punch Selling price Variable cost Contribution margin $13.00 $9.00 $4.00 $a.00 $5.00 $3.00 $6.00 $3.50 $2.50 Ounces of pomegranate juice used 4 1 Assume there is unlimited demand for the smoothles and Fresh to Go wants to maximize sales of its smoothie with the highest contribution margin per ounce. Normally, the company pays S0.30 per ounce for pomegranate juice up to 64,000 ounces. If the company can obtain additional ounces above the 64,000, what is the maximum price it would be willing to pay per ounce? $1.10 $4.30 $2.80 $0.00
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1 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 3,700 helmets, using 2,183 kilograms of plastic. The plastic cost the company $14,408. According to the standard cost card, each helmet should require 0.51 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 3,700 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3,700 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…

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