Homework Answers
following conditions normally would not indicate that standard costs should be revised that actual costs differed from the standard costs for the preceding week.
When there are variances they should be analysed in detailed manner to know the reasons for the deviation and will not lead to any change in the standard.
All other options will lead to change in the revision of standard.
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Which of the following conditions normally would not indicate that standard costs should be revised? Oa....
Question 40 1 pts Which of the following conditions normally would not indicate that standard costs...
Question 40 1 pts Which of the following conditions normally would not indicate that standard costs should be revised? The company has signed a new union contract that increases the factory wages on average by $3.50 an hour. Actual costs differed from standard costs for the preceding week. The average price of raw materials increased from $4.68 per pound to $4.82 per pound. The engineering department has revised product specifications in responding to customer suggestions
Question 40 1 pts Which of the following conditions normally would not indicate that standard costs...
Question 40 1 pts Which of the following conditions normally would not indicate that standard costs should be revised? The company has signed a new union contract that increases the factory wages on average by $3.50 an hour. Actual costs differed from standard costs for the preceding week. The average price of raw materials increased from $4.68 per pound to $4.82 per pound. The engineering department has revised product specifications in responding to customer suggestions
Use this information to answer the question that follow. The standard costs and actual costs for...
Use this information to answer the question that follow. The standard costs and actual costs for factory overhead for the manufacture of 2,600 units of actual production are as follows Fixed overhead (based on 10,000 hours) Variable overhead 3 hours per unit$0.75 per hour 3 hours per unit $1.95 per hour Total variable cost, $18,200 Total fixed cost, $8,200 The fixed factory overhead volume variance is Oa. $1,320 unfavorable Ob. $0 Oc.$1,650 unfavorable Od. $1,320 favorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for...
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,670 pounds of material, $5.00; and standard costs for 4,460 pounds of material at $6.40 per pound. What is the direct materials price variance? Oa. $1,344 unfavorable ob. $6,538 unfavorable OC. $6,538 favorable Od. $1,344 favorable
Which of the following is the correct flow of manufacturing costs? Oa. raw materials, finished goods,...
Which of the following is the correct flow of manufacturing costs? Oa. raw materials, finished goods, cost of goods sold, work in process Ob. work in process, finished goods, raw materials, cost of goods sold Oc. raw materials, work in process, finished goods, cost of goods sold Od cost of goods sold, raw materials, work in process, finished goods here to search 9 E E R. Y F G Н K K DV B. N M M
Heavy Products, Inc develped standard costs for direct materialand drect labor in 2017, All estimated the...
Heavy Products, Inc develped standard costs for direct materialand drect labor in 2017, All estimated the folowing standard costs for one of ther maor products, the 10-galon plasti contaner Direct materials Direct labor Budoeted auantity 030 pounds 025 hours Budorted arice S90 per pound S30 per hour During June, Heavy Products produced and sold 15,000 contaners using 2400 pounds of direct materials at an average cost per pound of S2 and 3,750 direct manufactung labor - hours at an average...
Firt Page test 3 (Subseqaent Pages) Which of the following can be fousd on the statement...
Firt Page test 3 (Subseqaent Pages) Which of the following can be fousd on the statement of cash flows O a oa changes la stockholders' eqaity Ob.changes la retalsed earnings с.toe" asse" d. cash flows from operating activises Which of the following stadements is false? OManagerial accoustiag docs not aced to confors to GAAP O b. Managerilal accounding soetimes relles ce past inormaskoe. O c. Rnancial accounting anast oeoms to GAAP. O d. There is no overlap betwen fieancial and...
Question 40 1 pts Which of the following conditions normally would not indicate that standard costs should be revised? The company has signed a new union contract that increases the factory wages on average by $3.50 an hour. Actual costs differed from standard costs for the preceding week. The average price of raw materials increased from $4.68 per pound to $4.82 per pound. The engineering department has revised product specifications in responding to customer suggestions
Question 40 1 pts Which of the following conditions normally would not indicate that standard costs should be revised? The company has signed a new union contract that increases the factory wages on average by $3.50 an hour. Actual costs differed from standard costs for the preceding week. The average price of raw materials increased from $4.68 per pound to $4.82 per pound. The engineering department has revised product specifications in responding to customer suggestions
Use this information to answer the question that follow. The standard costs and actual costs for factory overhead for the manufacture of 2,600 units of actual production are as follows Fixed overhead (based on 10,000 hours) Variable overhead 3 hours per unit$0.75 per hour 3 hours per unit $1.95 per hour Total variable cost, $18,200 Total fixed cost, $8,200 The fixed factory overhead volume variance is Oa. $1,320 unfavorable Ob. $0 Oc.$1,650 unfavorable Od. $1,320 favorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,670 pounds of material, $5.00; and standard costs for 4,460 pounds of material at $6.40 per pound. What is the direct materials price variance? Oa. $1,344 unfavorable ob. $6,538 unfavorable OC. $6,538 favorable Od. $1,344 favorable
Which of the following is the correct flow of manufacturing costs? Oa. raw materials, finished goods, cost of goods sold, work in process Ob. work in process, finished goods, raw materials, cost of goods sold Oc. raw materials, work in process, finished goods, cost of goods sold Od cost of goods sold, raw materials, work in process, finished goods here to search 9 E E R. Y F G Н K K DV B. N M M
Heavy Products, Inc develped standard costs for direct materialand drect labor in 2017, All estimated the folowing standard costs for one of ther maor products, the 10-galon plasti contaner Direct materials Direct labor Budoeted auantity 030 pounds 025 hours Budorted arice S90 per pound S30 per hour During June, Heavy Products produced and sold 15,000 contaners using 2400 pounds of direct materials at an average cost per pound of S2 and 3,750 direct manufactung labor - hours at an average...
Firt Page test 3 (Subseqaent Pages) Which of the following can be fousd on the statement of cash flows O a oa changes la stockholders' eqaity Ob.changes la retalsed earnings с.toe" asse" d. cash flows from operating activises Which of the following stadements is false? OManagerial accoustiag docs not aced to confors to GAAP O b. Managerilal accounding soetimes relles ce past inormaskoe. O c. Rnancial accounting anast oeoms to GAAP. O d. There is no overlap betwen fieancial and...
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