Answer:
A. True
Explanation:
For her it is a specialty good because it not sold everywhere, therefore she makes the extra effort.
Answer:
<u>FIFO</u>
Ending inventory: = 6745
Cost of goods sold: = 5120
<u>AVERAGE</u>
Ending inventory: 6215
Cost of goods sold: = 5650
Explanation:
The FIFO (First input, first output) method allows you to make an inventory valuation, taking into account that the first items that enter the stock are the first ones that come out.
In the method of valuation of weighted average cost inventory, a weighted average is used to determine the cost of goods sold and the value of the inventory. To do this, the cost of the goods available for sale is divided by the number of units available for sale.
<em>(See the attached form to see the calculations)</em>
Answer:
material price variance (standard price - actual price) * quantity purchased
MPV= ( 3.30 - 3.50) 2300 =$460 Unfavorable
Material quantity variance = ( standard quantity - actual quantity) standard price
MQV = ( 1920 -2300) 3.30 = $1254 Unfavorable
Labour price (rate) variance = (Standard rate - actual rate) actual hours
LRV = (12- 11.8) * 280 = $56 Favorable
Labor hours variance = ( standard hours - actual hours) * standard rate
LHV = ( 240 - 280) * $12 = $480 unfavorable
Explanation:
the complete question:
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (8 pounds at $3.30 per pound) $26.40 Direct labor (1 hours at $12.00 per hour) $12.00 During the month of April, the company manufactures 240 units and incurs the following actual costs. Direct materials purchased and used (2,300 pounds) $8,050 Direct labor (280 hours) $3,304 Compute the total price, and quantity variances for materials and labor.
Answer:
$305,000 increased
Explanation:
As the total unit cost is given i.e $23
And, the customer has offered to buy 61,000 units at $22 each
In the case of special order, the effect on operating profits is
= Difference of cost × number of units to be offered for buying
= $5 × 61,000 units
= $305,000 increased
The difference is
= Buying price offered - direct material per unit - direct labor per unit - variable overhead per unit
= $22 - $8 - $5 -$4
= $5
The selling cost is not included. Hence, ignored it
