Business, 02.06.2020 23:57 gtrsoccer

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows:
Direct materials: 4 pounds at $8 per pound $ 32
Direct labor: 2 hours at $16 per hour 32
Variable overhead: 2 hours at $6 per hour 12
Total standard cost per unit $ 76
The planning budget for March was based on producing and selling 32,000 units. However, during March the company actually produced and sold 37,000 units and incurred the following costs:
a. Purchased 160,000 pounds of raw materials at a cost of $7.40 per pound. All of this material was used in production.
b. Direct laborers worked 67,000 hours at a rate of $17 per hour.
c. Total variable manufacturing overhead for the month was $422,100.
Required:
1. What raw materials cost would be included in the company's planning budget for March?2. What raw materials cost would be included in the company's flexible budget for March?3. What is the materials price variance for March?4. What is the materials quantity variance for March?

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 11:00

Consider an economy where government expenditures are 10 and total tax revenues are 10. the supply of labor is fixed at 125 and the supply of capital is fixed at 8. the economy is described by the following equations. y k to the power of 1 divided by 3 end exponent l to the power of 2 divided by 3 end exponent c 2.5 + 0.75 ( y - t ) i 10 - 0.5 r the level of private savings is

Answers: 1

Answer

Business, 22.06.2019 13:20

Suppose your rich uncle gave you $50,000, which you plan to use for graduate school. you will make the investment now, you expect to earn an annual return of 6%, and you will make 4 equal annual withdrawals, beginning 1 year from today. under these conditions, how large would each withdrawal be so there would be no funds remaining in the account after the 4th withdraw?

Answers: 3

Answer

Business, 23.06.2019 00:40

The recognition of which of the following expenses exemplifies the application of matching expenses with the revenues they produced? multiple choice(a) cost of goods sold. (b) advertising.(c) president's salary.(d) research and development.

Answers: 3

Answer

Business, 23.06.2019 01:00

The monthly demand equation for an electric utility company is estimated to be p equals 60 minus left parenthesis 10 superscript negative 5 baseline right parenthesis x, where p is measured in dollars and x is measured in thousands of killowatt-hours. the utility has fixed costs of $3 comma 000 comma 000 per month and variable costs of $32 per 1000 kilowatt-hours of electricity generated, so the cost function is upper c left parenthesis x right parenthesis equals 3 times 10 superscript 6 baseline plus 32 x. (a) find the value of x and the corresponding price for 1000 kilowatt-hours that maximize the utility's profit. (b) suppose that the rising fuel costs increase the utility's variable costs from $32 to $38, so its new cost function is upper c 1 left parenthesis x right parenthesis equals 3 times 10 superscript 6 baseline plus 38 x. should the utility pass all this increase of $6 per thousand kilowatt-hours on to the consumers?

Answers: 2

Answer

You know the right answer?

Preble Company manufactures one product. Its variable manufacturing overhead is applied to productio...

Questions