Question
In: Accounting
Which of the following mathematical expressions is used to compute the materials usage variance?
Which of the following mathematical expressions is used to compute the materials usage variance?
a. (Fixed price × Standard quantity) + (Variable price × Actual quantity)
b. (Actual price × Standard quantity) + (Actual quantity × Standard price)
c. (Average price × Average quantity) – (Standard price × Standard quantity)
d. (Standard price × Actual quantity) – (Standard price × Standard quantity)
e. None of these choices are correct.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
The materials Quantity (usage) variance should be computed: When materials are purchased When materials are used...
The materials Quantity (usage) variance should be computed:
When materials are purchased
When materials are used in production
When only a portion of materials purchased is used
Only when there is a significant difference between standard
and actual price per unit for the materials
Which of the following statements is correct?
The standard price per unit for direct materials should not
include any purchase discounts as they are not usually under the
control of purchasing managers
The standard quanitity per...
Calculating the Direct Materials Price Variance and the Direct Materials Usage Variance Guillermo's Oil and Lube...
Calculating the Direct Materials Price Variance and the Direct
Materials Usage Variance
Guillermo's Oil and Lube Company is a service company that
offers oil changes and lubrication for automobiles and light
trucks. On average, Guillermo has found that a typical oil change
takes 22 minutes and 6.6 quarts of oil are used. In June,
Guillermo's Oil and Lube had 900 oil changes.
Guillermo's Oil and Lube Company provided the following
information for the production of oil changes during the month...
Calculating the Direct Materials Price Variance and the Direct Materials Usage Variance Guillermo's Oil and Lube...
Calculating the Direct Materials Price Variance and the Direct
Materials Usage Variance
Guillermo's Oil and Lube Company is a service company that
offers oil changes and lubrication for automobiles and light
trucks. On average, Guillermo has found that a typical oil change
takes 30 minutes and 6.4 quarts of oil are used. In June,
Guillermo's Oil and Lube had 920 oil changes.
Guillermo's Oil and Lube Company provided the following
information for the production of oil changes during the month...
Calculating the Direct Materials Price Variance and the Direct Materials Usage Variance Guillermo's Oil and Lube...
Calculating the Direct Materials Price Variance and the Direct
Materials Usage Variance
Guillermo's Oil and Lube Company is a service company that
offers oil changes and lubrication for automobiles and light
trucks. On average, Guillermo has found that a typical oil change
takes 23 minutes and 6.8 quarts of oil are used. In June,
Guillermo's Oil and Lube had 920 oil changes.
Guillermo's Oil and Lube Company provided the following
information for the production of oil changes during the month...
ornerstone Exercise 9.2 (Algorithmic) Calculating the Direct Materials Price Variance and the Direct Materials Usage Variance...
ornerstone Exercise 9.2 (Algorithmic)
Calculating the Direct Materials Price Variance and the Direct
Materials Usage Variance
Guillermo's Oil and Lube Company is a service company that
offers oil changes and lubrication for automobiles and light
trucks. On average, Guillermo has found that a typical oil change
takes 22 minutes and 6.6 quarts of oil are used. In June,
Guillermo's Oil and Lube had 900 oil changes.
Guillermo's Oil and Lube Company provided the following
information for the production of oil...
Calculating the Direct Materials Price Variance and the Direct Materials Usage Variance 9.1: Guillermo has found...
Calculating the Direct Materials Price Variance and the Direct
Materials Usage Variance
9.1: Guillermo has found a typical oil change takes 24 minutes
and 6.2 quarts of oil are used. In June, Guillermo had 980 oil
changes.
Refer to Exercise 9.1. Guillermo's Oil and Lube Company provided
the following information for the production of oil changes during
the month of June:
Actual number of oil changes performed: 980
Actual number of quarts of oil used: 6020 quarts
Actual price paid...
An adverse material usage variance could be caused by which of the following? The storeroom supplying...
An adverse material usage variance could be caused by which of
the following?
The storeroom supplying less material than is required by
production
The purchase of cheap material
Poorly maintained machinery
A series of short deliveries
Items 1 and 2 only
Items 2 and 3 only
Items 3 and 4 only
Items 1 and 4 only.
Which of the following situations is likely to cause adverse
material usage variance?
A shortage of the material used
Employing unskilled machine operators
Machinery...
Give citations for the following that can be used: Direct materials price variance (based on materials...
Give citations for the following that can be used:
Direct materials price variance (based on materials used)
Direct materials usage variance
Direct labor variance
Direct labor efficiency variance
Using the following information, compute the direct materials used. Raw materials inventory, January 1 $&
Using the following information,
compute the direct materials used.
Raw materials inventory, January
1
$ 20,000
Raw materials inventory, December
31
40,000
Work in process, January
1
18,000
Work in process, December
31
12,000
Finished goods, January
1
40,000
Finished goods, December
31
32,000
Raw materials
purchases
1,400,000
Direct
labor
560,000
Factory
utilities
150,000
Indirect
labor
50,000
Factory
depreciation
400,000
Operating
expenses
420,000
a. $1,460,000.
b. $1,420,000.
c. $1,400,000.
d. $1,380,000.
Why it's D ????
Answer to the following questions. Give mathematical expressions and physical explanations if it is necessary. 1....
Answer to the following questions. Give mathematical expressions
and physical explanations if it is necessary.
1. What is polarization of light? (Electromagnetic formulations
should be given)
2. What is the difference between polarized light and
nonpolarized light?
3. How can polarized light be created? (Explain in detail the
physical background)
4. Polarization states: Linear, Circular and Elliptic (Give
mathematical formulations and draw graphics)
5. TM and TE polarizations: Reflection and Refraction
(Mathematical formulations)
6. How does polarization by reflection work?...
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