Tip top corp produces a product that requires 12 standard, Ask an Expert

Accounting

Tip Top Corp. produces a product that requires 12 standard gallons per unit. The standard price is $9.00 per gallon. If 5,500 units required 67,300 gallons, which were purchased at $8.46 per gallon, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance?

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9958775

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question - lionel is an unmarried law student at state

Question - Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowed $24,000 from County Bank and paid interest of $1,440. Lionel used the loan proc ...

Question - x company has the following data from 2016 and

Question - X Company has the following data from 2016 and 2017: 2016 2017 Total costs $282,100 $411,300 Units produced 35,000 55,000 Expected production in 2018 is 44,100 units. Using the high-low method with the 2016 ...

Question - suppose the interest rate is 83 apr with monthly

Question - Suppose the interest rate is 8.3% APR with monthly compounding. What is the present value of an annuity that pays $ 115 every three months for six years if rounded to the nearest cent?

Question you plan to be open 50 hours per week for 20 weeks

Question: You plan to be open 50 hours per week for 20 weeks in the year. You therefore anticipate operating costs of $100,000 per year. You would be able to borrow $1,700,000 you need to get started under a 20-year loan ...

Question - during 2014 robbys camera shop had sales revenue

Question - During 2014, Robby's Camera Shop had sales revenue of $170,000, of which $75,000 was on credit. At the start of 2014, Accounts Receivable showed a $16,000 debit balance, and the Allowance for Doubtful Accounts ...

Question - donuts r us sells expensive donuts the companys

Question - Donuts R Us sells expensive donuts. The company's annual fixed costs re $54000. The sales price of a donut is $10, and it costs the company $6 to make each donut. Ignore income taxes for the following requirem ...

Question - watch the video then discuss the differences

Question - Watch the video then discuss the differences between variable and absorption costing. How does variable costing help a company make good management decisions? List some examples of ways in which a business wou ...

Discussion your new client barbara has just formed a new

Discussion: Your new client, Barbara, has just formed a new corporation that provides consulting services to couples contemplating marriage. She has learned from her accountant that there will be items in her business th ...

Question - effective financial reporting depends on sound

Question - Effective financial reporting depends on sound ethical behavior. Financial scandals in accounting and the businesses world have resulted in legislation to ensure adequate disclosures and honesty and integrity ...

Question - jacks jax has total fixed cost of 25000 if the

Question - Jack's Jax has total fixed cost of $25,000. If the company's contribution margin is 60%, the income tax rate is 25% and the selling price of a box of Jax is $20, how many boxes of Jax would the company need to ...

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

Recent Questions

Ask Accounting Basics Expert