Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Q1) EggzonMobul Incorporated uses Chemical X to produce oil products.  Variance data for month follows (F indicates a favorable variance, U indicates unfavorable variance):

 

Chemical X

Materials Price Variance

$84,000 F

Materials Efficiency Variance

80,000 U

Net Materials Variance

4,000 F

The allowed quantity given the production of oil products

200,000 lbs.

 Budget allowed one pound of Chemical X for each pound of oil product requiring Chemical X.  For Chemical X, \ average price paid was $.40 per pound less than standard. Company bought and used all of Chemical X in the given period. 

a) Compute number of pounds of Chemical X purchased. 

b) Compute standard cost per pound of Chemical X.

c) Compute total standard material cost for Chemical X.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M917421

Have any Question? 


Related Questions in Accounting Basics

Accounting for business decisions melbourne assignment-the

Accounting for Business Decisions Melbourne Assignment- The assignment will undertake research using the website of the Australian Stock Exchange (ASX) and/or the Company whose industry is Food, Beverage & Tobacco that y ...

Assessment by the sports exports company of factors that

Assessment by the Sports Exports Company of Factors That Affect the British Pound's Value Because the Sports Exports Company (a U.S. ?rm) re- ceives payments in British pounds every month and converts those pounds into d ...

Taxation law and practice assignment-questionstephanie

TAXATION LAW AND PRACTICE ASSIGNMENT- QUESTION Stephanie Rogan ran her own advertising company.  Stephanie was an advertising executive with a large advertising agency company, Greater Union Advertisers Pty Ltd.  She lef ...

Accounting principles assignment-q1 smith catering service

Accounting Principles Assignment- Q1. Smith Catering Service completed the following transactions during its first month of operations for July 2016: a. Smith Catering Service commenced operations by receiving $12000 cas ...

Assignment ifrs and us gaap reportingon january 1 year 1

Assignment: IFRS and U.S. GAAP Reporting On January 1, Year 1, the Hoverman Corporation made amendments to its defined benefit pension plan, resulting in $150,000 of past service costs. The plan has 100 active employees ...

Case study-nbsp pc problems plcpc problems plc is a

Case Study-  PC Problems plc PC Problems plc is a (fictitious) company engaged in the servicing of personal computers on a carry-in basis. The company started out several years ago as a small shop working on household ap ...

Assignmentthis assignment has 2 parts 1000 10 word theory

Assignment This assignment has 2 parts, 1000 + 10% word theory interpretation essay and a response to a practical application of the theory. The assignment must be typed, use Arial font, 12, to avoid plagiarism, make sur ...

Assignment case studyreqiredassume you are employed as a

Assignment Case Study Reqired Assume you are employed as a graduate tax accountant and have been asked to detail to your manager, the Australian income tax implications of the following facts relating to Mrs Gilling, who ...

Your text notes that all of the business processes we have

Your text notes that all of the business processes we have studied feed data to the general ledger system. For each of the 5 business processes listed below: • Indicate which of the business events listed are activities ...

Practice questionsdescribe the main disadvantages of using

Practice questions: Describe the main disadvantages of using money as a unit of measurement to record business transactions.

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate