Compute the direct materials price variance, Accounting Basics

+44 141 628 6080
[email protected]

Compute the direct materials price variance

Cabot Company collected the following data regarding production of one of its products. Compute the direct materials price variance. Direct Materials Standard $12 finished unit; Actual direct materials used 243,00lbs; Actual finished units produced 40,000 units; Actual cost of direct materials used $483,570. The answers I have are: a. $2,430 unfavorable. b. $3,570 unfavorable. c. $2,430 favorable. d. $6,000 unfavorable. e. $3,570 favorable.

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Compute the direct materials price variance

Reference No:- TGS0674875

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Bank service charge deposit

June 30 cash receipts of $2,724 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement.

Q : Determine the ending cash balance

Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget.a. Beginning cash balance on June 1, $94,000. b. Cash receipts from sales, $413,000. c. Budgeted cash disbursements for purcha

Q : How much are the approximately annual payments

You have been approved for a $70,000 loan toward the purchase of a new home at 10% interest. The mortgage is for 30 years. How much are the approximately annual payments of the loan?

Q : Compute the projected selling expense

Grafton sells a product for $700. Unit sales for May were 400 and a 3% growth in unit sales is forecasted for each month. Grafton pays a sales manager a monthly salary of $3,000 and a commission of 2% of sales in dollars.

Q : Compute the direct materials price variance

Cabot Company collected the following data regarding production of one of its products. Compute the direct materials price variance. Direct Materials Standard $12 finished unit

Q : Explain why the return-on-equity ratio is so much less

Explain why the return-on-equity ratio is so much less favorable than the return-on-assets ratio compared to the industry. No numbers are necessary.

Q : Regular units are manufactured to meet marketing projections

Easecom Company is a manufacturer of videoconferencing products. Regular units are manufactured to meet marketing projections, and specialized units are made after an order is received.

Q : Annual utilities and maintenance expenses

Sherry rents her vacation home for 6 months and lives in it for 6 months during the year. Her gross rental income during the year is $4,000. Total real estate taxes for the home are $950, and interest on the home mortgage is $3,000.

Q : Lawrence owns a small candy store

Lawrence owns a small candy store that sells one type of candy. His beginning inventory of candy was made up of 10,000 boxes costing $1.50 per box ($15,000), and he made the following purchases of candy during the year.

1923629

Questions
Asked

3,689

Active Tutors

1449956

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Compute the direct materials price variance

Reference No:- TGS0674875

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Bank service charge deposit

Q : Determine the ending cash balance

Q : How much are the approximately annual payments

Q : Compute the projected selling expense

Q : Compute the direct materials price variance

Q : Explain why the return-on-equity ratio is so much less

Q : Regular units are manufactured to meet marketing projections

Q : Annual utilities and maintenance expenses

Q : Lawrence owns a small candy store

Officer retires and wants to continue healthcare coverage

What condition for elevating the anterior vaginal wall

Define what person-centered care means to you

What strengths do you observe in the facilitators skills

Consider a complex health problem or issue routinely

Describe two educational barriers patients face

How individuals covered by a high deductible health plan

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Compute the direct materials price variance

Reference No:- TGS0674875

Recent Questions Asked Accounting Basics

Q : Bank service charge deposit

Q : Determine the ending cash balance

Q : How much are the approximately annual payments

Q : Compute the projected selling expense

Q : Compute the direct materials price variance

Q : Explain why the return-on-equity ratio is so much less

Q : Regular units are manufactured to meet marketing projections

Q : Annual utilities and maintenance expenses

Q : Lawrence owns a small candy store

Asked Questions