Grace Company manufactures candles
The standard direct materials quantity required to produce one large candle is one pound at a cost of $5 per pound. During November, 7,200 large candles were produced using 7,500 pounds of direct materials that cost $45,000.
Using the format below, prepare an analysis of the direct materials variances.
What will be an ideal response
Note:
Actual cost = $45,000 / 7,500 pounds = $6 per pound
You might also like to view...
Which of the following is correct regarding the final prospectus?
A) It must be delivered to all purchasers prior to or at the time of sale or delivery of the security to the investor. B) It must be delivered at the time of sale or delivery of the security only if the issuer has not already provided a preliminary prospectus. C) It must be available before tombstone ads can be placed. D) It must be provided to each potential purchaser before an offer can be made to that purchaser. E) It is filed before the waiting period can begin.
On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $66,200 and $1900, respectively. During Year 2, Kincaid reported $166,000 of credit sales, wrote off $1400 of receivables as uncollectible, and collected cash from receivables amounting to $185,700. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales.Which of the following describes the effects of Kincaid's entry to recognize the write-off of the uncollectible accounts?
A. Does not affect assets or stockholders' equity. B. Increase assets and stockholders' equity. C. Increase assets and decrease stockholders' equity. D. Decrease assets and stockholders' equity.
Given the forecast and booked orders shown in the table, and a beginning inventory of 120, what is the projected ending inventory for period 4? The company operates with a lot size of 144
Period 1 2 3 4 Forecasted Demand 500 450 400 600 Booked Orders 520 400 325 450 Projected ending inventory Master production schedule Available to Promise A) 34 B) 38 C) 46 D) 22
New Zoya is a country of English-speaking people and has a very profitable economy. Which of the following countries is most likely to be the closest to New Zoya in terms of cultural distance?
A. Danver, which has the same wealth and per capita income as New Zoya B. Valyria, where people speak English and have a low standard of living C. Sulfura, which has a very profitable economy and where people speak Sulfuran D. Novalandia, which is located close to New Zoya and is easily accessible by road