Total Materials VarianceYoung Inc. produces plastic bottles. Production of 16-ounce bottles has a standard unit quantity of 0.45 ounce of plastic per bottle. During the month of June, 240,000 bottles were produced using 110,000 ounces of plastic. The actual cost of plastic was $0.042 per ounce, and the standard price was $0.045 per ounce. There is no beginning or ending inventories of plastic.
Calculate the materials price and usage variances using the columnar and formula approaches.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Total Materials VarianceYoung Inc. produces plastic bottles. Production of 16-ounce bottles has a standard unit quantity of 0.45 ounce of ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
What are the tips for the car that would also apply to the human body?
Answers (1)
Cross dishware manufactures a custom line of pottery. The company uses a job-order costing system. During June, the following costs were incurred on Job CD4340: direct materials $3,500 and direct labor $6,400.
Answers (1)
In the country of Doran, all businesses are owned by the state. The government plans production, fixes commodity prices, and also directs investments to ensure they benefit the nation as a whole and not only a few individuals.
Answers (1)
Which of the following is the first step in Kotter's eight-step plan for implementing change? A) Create a new vision to direct the change and strategies for achieving the vision.
Answers (1)
Why does Target use different hurdle rates for the store and the credit cards (9% and 4%, respectively) ?
Answers (1)
New Questions in Business
An industry battle between incompatible product formats can occur if competing firms selling sets of ___ substitutable networkable complementary products fail to take into account ___ feedback substitution network effects.
Answers (1)
Can financial statements be prepared directly from the adjusted trial balance?
Answers (1)
Demand for earbuds is represented by: P = 402 - 2Q The costs are $8 per set of earbuds. In order to stock earbuds, other items which average $2 in profit must be taken off the shelf. How many earbuds should you order?
Answers (1)
Which statements are true if the particle size in a packed column used in HPLC is decreased? a. increased resolution b. increased separation c. efficiency allows the use of a lower operating pressure d.
Answers (1)
Economic rent is defined as the Question 2 options: amount by which the payment to a factor of production exceeds the supplier's opportunity cost. amount landlords charge to tenants. difference between total revenue and implicit costs.
Answers (1)