Table Manufacturing Company produces one style of tables. the following data pertain to producing one table...

Question

Question

Table Manufacturing Company produces one style of tables. the following data pertain to producing one table...

Table Manufacturing Company produces one style of tables.
the following data pertain to producing one table
Planned production/month	?
units (one table)	50
Piece of woods (M)	20
Estimated M price	$20
Actual production	?
Quantity purchased (QP) from M	19
Actual price (AP)	$21
Material?volume (efficiency)?variance?	?

		$19, Favorable
		$19, Unfavorable
		$20, Favorable
		$20, Unfavorable

Given: Total direct material variance $200 favorable (F), Direct material price variance $900 unfavorable (UF), Standard price $10 Standard quantities 750 Find actual price

	1.	Less than $10
	2.	Between $10 and $10.50
	3.	Between $11.00 and $11.50
	4.	More than $12.00

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Given total material variance=200 (F)

SQ*SP- AQ*AP = $200

750*$10 - AQ*AP = $200

AQ*AP = $7300............(1)

Direct material price variance = $900 (UF)

AQ*(SP - AP). = $900(UF)

AQ*10 - AQ*AP = $900(UF)

AQ*10 - 7300 =$900(UF)

AQ =(7300-900)/10

AQ = 640 tables

From (1). AQ*AP =$7300

AP =$7300/640

AP = $ 11.41

Add a comment

Answer 2

Similar Homework Help Questions

Table Manufacturing Company produces one style of tables. the following data pertain to producing one table...

Table Manufacturing Company produces one style of tables. the following data pertain to producing one table Planned production/month ? units (one table) 50 Piece of woods (M) 20 Estimated M price $20 Actual production ? Quantity purchased (QP) from M 19 Actual price (AP) $21 Material price variance? ? $19, Favorable $19, Unfavorable $20, Favorable $20, Unfavorable Given for XM Company the following data for January 20X1. Direct material purchased and used in production accounted for $100,000 Units purchased 10,000...
Table Manufacturing Company produce one style of tables. The following data pertain to producing one table....

Table Manufacturing Company produce one style of tables. The following data pertain to producing one table. Planned production per month: Units (one table) = 100 Piece of Woods = 20 Estimate M price = $30 Actual production Quantity purchased (QP) = 18 Actual Price (AP) = $34 The calculated material quantity (volume) variance is: a. 72 Favorable b. 72 Unfavorable c. 60 Favorable d. 60 Unfavorable e. 12 Favorable f. 12 Unfavorable
estion 15 Table Manufacturing Company produce one style of tables. the following data pertain to producing...

estion 15 Table Manufacturing Company produce one style of tables. the following data pertain to producing one table Planned production per month Units (one table) 100 Piece of woods (M) 20 Estimated M price $30 Actual production Quantity purchased (QP) 18 $34 Actual price (AP) The calculated total material variance is 1.72 Favorable 2.72 Unfavorable 3.60 Favorable 4.60 Unfavorable 5.12 Favorable 6.12 Unfavorable A Moving to another question will save this me

Q5: Table Manufacturing Company produces one style of tables. The following data pertain to producing one...

Q5: Table Manufacturing Company produces one style of tables. The following data pertain to producing one table Planned production/month units (one unit = one table) 20 A piece of woods (M) 20 Estimated M price $10 Actual production Quantity purchased (QP) from M 22 Actual price (AP) $9.5 Material variances? Q6: Given the following data to calculate variable overhead variances Actual inputs Actual hours 200 Actual rate $12.00 Standards Standards hours 190 Standard rate $10.00 Find the budget variance and...
6. Table Manufacturing Company produces one style of tables. The following data pertain to producing one...

6. Table Manufacturing Company produces one style of tables. The following data pertain to producing one table Planned production per month Units (one table) 100 Place of woods (M) 20 Estimated M price $30 Actual production Quality purchased (QP) 18 Actual Price (AP) $34 The calculated material quality (volume) variance is 72 fav 72 unfav 60 fav 60 unfav 12 fav 12 u
> as Moving to another question will save this response. Question 7 Table Manufacturing Company produces...

> as Moving to another question will save this response. Question 7 Table Manufacturing Company produces one style of tables. The following data pertain to producing one table Planned production/month units (one table) Piece of woods (M) Estimated M price Actual production Quantity purchased (QP) Find actual price (AP) 90 20 540 Assuming that the manager wants the total material variance Less than $30 Between $30 and $33 Between $34 and $35 More than $36 à Moving to another question...

Variance means a. difference between standard or applied amount and actual amount b. actual costs less...

Variance means a. difference between standard or applied amount and actual amount b. actual costs less actual rates c. standard costs less standard rates d. square root of standard deviation 2. Table Manufacturing Company produces one style of tables. The following data pertain to producing one table Planned production/month units (one table) 90 Piece of woods (M) 20 Estimated M price $40 Actual production Quantity purchased (QP) 22 Find actual price (AP) x Assuming that the manager wants the total...
Janitor Supply produces an industrial cleaning powder that requires 40 grams of material at $010 per...

Janitor Supply produces an industrial cleaning powder that requires 40 grams of material at $010 per gram and 0.25 direct labor hours at $12.00 per hour. Overhead is applied at the rate of $18 per direct labor hour What is the total standard cost for one unit of product that would appear on a standard cost card? Multiple Choice $700 $8.50 $11.50. $7.50 $25.00 Claremont Company sells refurbished copiers. During the month, the company sold 180 copiers for total sales...
The following describes production activities of Mercer Manufacturing for the year. Actual direct materials used Actual...

The following describes production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced 31,000 lbs. at $5.80 per lb. 10,600 hours for a total of $217,300 63,000 1,600 hour. 29.9 5. IS DE $217,300 Budgeted standards for each unit produced are 0.50 pound of direct material at $5.75 per pound and 10 minutes of direct labor at $21.50 per hour. AH = Actual Hours SH = Standard Hours AR = Actual...

The following describes production activities of Mercer Manufacturing for the year. Actual direct materials used 22,000...

The following describes production activities of Mercer Manufacturing for the year. Actual direct materials used 22,000 lbs. at $4.35 per lb. Actual direct labor used 6,575 hours for a total of $128,870 Actual units produced 36,000 Budgeted standards for each unit produced are 0.50 pound of direct material at $4.30 per pound and 10 minutes of direct labor at $20.60 per hour. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate AQ =...

Table Manufacturing Company produces one style of tables. the following data pertain to producing one table...

Homework Answers

Add Answer to:
Table Manufacturing Company produces one style of tables. the following data pertain to producing one table...

Post as a guest

Earn Coins