Firecracker Company has developed the following standards for one of its products. Direct materials: 15 pounds * $16 per pound Direct labor: 4 hours * $24 per hour Variable manufacturing overhead: 4 hours * $14 per hour The following activity occurred during the month of October: Materials purchased: 10,000 pounds costing $170,000 Materials used: 7,200 pounds Units produced: 500 units Direct labor: 2,300 hours at $23.60/hour Actual variable manufacturing overhead: $30,000 The company records materials price variances at the time of purchase. The direct materials price variance is
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Firecracker Company has developed the following standards for one of its products. Direct materials: 15 pounds * $16 per pound Direct ...” 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
Mike and Sue McCloskey make sure to share their vision with their workforce, also known as the Fair Oaks family. They also welcome feedback on this vision.
Answers (1)
What is a term used widely among real estate investors to refer to non-traditional means of real estate financing, or financing techniques not commonly used? a) Common financing b) Capital financing c) Leverage financing d) Creative financing
Answers (2)
Management by measurement is a control principle that states that managers should be informed of a situation only if data show a significant deviation from standards.
Answers (1)
One would expect a sports team who continues to add players to its roster (beyond the minimum required to "field a team") to eventually encounter: Robust marginal revenue growth. Diminishing marginal product of capital.
Answers (1)
A production function for which proportional changes in all inputs leads to a more-than-proportional change in output is said to exhibit
Answers (1)
New Questions in Business
Valera Corporation makes a product with the following standards for labor and variable overhead: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct labor 0.4 hours $ 21.00 per hour $ 8.40 Variable overhead 0.4 hours $ 6.
Answers (1)
Which of the following are tasks associated with business administration positions? a. answering phones b. designing goods for production c. delivering goods to markets d. maintaining records e. repairing computers
Answers (1)
Pepe, Incorporated acquired 60% of Devin Company on January 1, 2017. On that date Devin sold equipment to Pepe for $45,000. The equipment had a cost of $120,000 and accumulated depreciation of $66,000 with a remaining life of 9 years.
Answers (1)
Which statement is incorrect? a. Dividends represent a distribution by a corporation to its stockholders. b. Dividends are shown on the income statement. c. Dividends reduce stockholders' equity, thus the Dividends account increases on the left side.
Answers (1)
Which of the following could result in the termination and liquidation of a partnership?1) Partners are incompatible and choose to cease operations. 2) There are excessive losses that are expected to continue. 3) Retirement of a partner. A. 1 onlyB.
Answers (1)