Ceramics produces large planters to be used in urban landscaping projects. A special earth clay is used to make the planters. The standard quantity of clay used for each planter is 24 pounds. The company uses a standard cost of $ 2.15 per pound of clay. Lily produced 3,000 planters in May. In that month, 75,000 pounds of clay were purchased and used at the total cost of $ 153,000. Requirement 1. Calculate the direct material price variance. Begin by determining the formula for the price variance, then compute the price variance for the direct materials. 2. Calculate the direct material quantity variance. Determine the formula for the quantity variance, then compute the quantity variance for the direct materials.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Ceramics produces large planters to be used in urban landscaping projects. A special earth clay is used to make the planters. The standard ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
A registered representative wishes to put on a sales seminar. During the seminar, the RR intends to give out handouts related to a few investments and printouts of slides that will be part of the presentation.
Answers (1)
A process by which a government agency authorizes individuals to work in a given occupation after the person has completed an approved education program and passed a state board test iss
Answers (1)
After Fidel Castro took power in Cuba in 1959, his government seized control of American property without paying compensation.
Answers (1)
You deposit $2,500 in a special savings account. The account earns interest at a rate of 3.25% compounded monthly. a. What amount will be in your account at the end of 5 months is no other deposits or withdrawals are made? b.
Answers (1)
18. The guarantee that English settlers in the New World would retain the ""rights of Englishmen"" proved to be A) an empty promise. B) unpopular among the settlers. C) the cause of revolutions in Spain and France.
Answers (1)
New Questions in Business
What way of calculating ROI makes it easiest to compare investments?
Answers (1)
Select the correct answer. Which assumption is a factor in Ricardo's Theory of International Trade? A. trade flow is restricted across borders B. trade laws are different in different nations C. labor is an irrelevant factor of production D.
Answers (1)
Some company executives favor the idea of contract manufacturing using local players, whereas others feel a direct investment strategy would be better. What would most strengthen argument for direct investment?
Answers (1)
A company has a defined benefit pension plan for its employees. On December 31, year one, the accumulated benefit obligation is $45,900, the projected benefit obligation is $68,100, and the fair value of the plan assets is $62,000.
Answers (2)
Which type of workplace culture emphasizes the development of new skills? a. achievement-based b. adaptive-based c. involvement-oriented d. consistency-oriented
Answers (2)