Surgical Products produces latex surgical gloves. Machines perform the majority of the processing for 1,000 pairs of gloves per hour. Each pair of gloves requires 0.85 square foot of latex, which has a standard price of $0.80 per square foot. Machine operators are considered direct labor and are paid $15 per hour. During one week in May, Surgical Products produced 300,000 pairs of gloves and experienced a $1,440 unfavorable material quantity variance. The company had purchased 2,500 more square feet of material than had been used in production that week. The unfavorable material price variance for the week was $5,186. A $288 unfavorable total labor variance was generated based on 315 total actual labor hours to produce the gloves. Determine the following amounts: A. Standard quantity of material for production achieved B. Actual quantity of material used C. Actual quantity of material purchased

Q: Define special purpose entity (SPE)

A: A special purpose entity is a legally separate enterprise that bears liability to an organization.…

Q: OCF analysis

A: Operating Cashflow Analysis  = Net Income + Depreciation and Amortization- Net Working capital

Q: Define corporation

A: Corporation is a legal entity separate from its shareholders. Just like an individual, a corporation…

Q: Define and expain

A: Detailed Explanation of Nursing1. Patient Care:Direct Care: Nurses provide hands-on care to…

Q: Question 25

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: the customer per small p the customer per large p= s Stork Enterprises have f gnize this tax…

A: A. Total tax charged to the customer per small package = 6% x $45 = $2.70Overall charge per small…

Q: Define declaration date

A: Answer: Declaration data is nothing a date the dividends are declared. This is usually done first…

Q: Number 33

A: 1)

Q: Define terminal value

A: Terminal value is the value of the project or the security at the end of a specified future date.…

Q: Ifrs solution

A: According to the question given, we need to prepare the journal entries, and, the impairment…

Q: anuty What general internal control v

A: Given case is: All-Around Sound Co. discovered a fraud whereby one of its front office…

Q: Explanation 1031 like-kind exchange

A:

Q: Define trademarks.

A:

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.