Ruby Toy has developed a new toy called the Magic Robot. The company has a standard costing system to help control costs and has establish the following standards for the toy. Direct Material: 8 diodes per toy at $0.30 per diode; Direct Labour: 1.2 hours per toy at $7 per hour. During August, the company produced 5,000 toys. Production data on the toy for August follows: Direct Materials: 70,000 diodes were purchased at a cost of $0.28 per diode. 20,000 of these diodes were still in inventory at the end of the month. (there was no opening Inventory). Direct Labour: 6,400 direct were worked at the cost of $48,000. Compute the direct material price variance for August. What is a possible cause of this variance?
calculate the material quantity variance and indicate a possible cause.calculate the direct labour rate and efficiency variance, and indicate possible cause for this.

Answers

Answer 1

The direct material price variance for August is $400 favorable. One possible cause of this variance could be the purchase of diodes at a lower cost per diode than the standard.

The direct material price variance is calculated by subtracting the actual cost of materials from the standard cost of materials and multiplying the difference by the actual quantity of materials used. In this case, the standard cost per diode is $0.30, and the actual cost per diode is $0.28. The difference in cost per diode is $0.02, and since 70,000 diodes were purchased and used, the total favorable variance is $0.02 * 70,000 = $1,400 favorable.

To calculate the direct material price variance, we need to consider the diodes that were still in inventory at the end of the month. Since 20,000 diodes were still in inventory, the favorable variance related to those diodes is $0.02 * 20,000 = $400 favorable.

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Related Questions

4.
Contrast the relationship that exists between entrepreneurs and investors in a business
enterprise.​

Answers

Answer:

see below

Explanation:

1. An entrepreneur is the business founder. He or she conceives the business ideas and focuses on growing it.  An investor considers existing business formed by the entrepreneur and focuses on its financial/commercial side.

2. The entrepreneur approaches an investor to finance the business. He draws a business plan and proposals to assure the investor of its viability. The investor approaches an entrepreneur if he is convinced of profits.

3. The entrepreneur manages the business but may also invest in it.  An investor only puts money in the business but is not involved in managing it.

What are the 4 steps to branding

Answers

Answer:

Here are four steps to building a successful brand.

1 Define how you want to be perceived. When your customers have finished using your product or service, how do you want them to describe their experience? ...

2 Organize your business based on this promise. ...

3 Communicate your promise. ...

4 Be consistent.

Explanation:

The ______is a financial statement detailing a firm's assets, liabilities, and owners' equity.
A. balance sheet
B. statement of cash flows
C. manufacturing statement
D. income statement

Answers

I had this question before, the answer I got correct is D

The income statement is a financial statement detailing a firm's assets, liabilities, and owner's equity. Thus, option 'D' is the correct option.

What is an income statement?

One of a company's financial accounts, an income statement or profit and loss account, lists the company's revenues and costs for a specific time period. It describes the process through which revenues are converted into net income or net profit.

A period of time is represented by an income statement (as does the cash flow statement). The balance sheet, on the other hand, only depicts one point in time. There are two ways to create an income statement. The Single Step Income Statement calculates the net income by adding up all receipts and deducting all costs.

In order to get at the net income, the Multi-Step income statement makes a number of calculations, beginning with the gross profit and moving on to operational expenditure estimation. then, after taking the gross profit into account, you get income from operations.

Therefore, option 'D' (income statement) is the correct option.

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Does anyone know what the definition of expanding manufacturing is?

Answers

Definition - To make your business grown larger or faster by diversifying your current product line

Hope this help :)

A Balance Sheet does NOT show your company's (two answers are correct)


financial position over a specific period of time

liabilities

insurance coverage at a specific date in time

assets

Answers

Answer:

I think its the 1st and 3rd ones

Explanation:

Sam has take-home pay every month of $800. He anticipates that his expenses will add up to $675 for the month. In a zero-based budget, why is it important that she put the extra $125 in SOME budget category?

Answers

Answer:

see below

Explanation:

The Zero-based budgeting technique assumes there will be no balance bought forward nor balance carried forward. Budget preparation for a particular period must start from zero or scratch. Each expense must be on merit. Income and expenses must match.  In the zero-based budget, the difference between income and expenditure must be zero.

If Sam has an income of $800 and expenses of $675, she has to re-work her costs again to ensure they match her income. The zero-based budget demands she draws her expenses list again and comes up with a way of spending the $125 difference.

When a site is unsafe, it means a. Your personal information may be used in ways you do not want c. Permission to use that site at school is always allowed b. That site is okay to visit often d. All of the above Please select the best answer from the choices provided A B C D

Answers

Answer:A, Your personal information may be used in ways you do not want

Explanation:

If it is a unsafe site than there for your personal information can go places you do not want them to.

When a site is unsafe, it means your personal information may be used in ways you do not want. Thus, option 'A' is the correct option.

What does it mean when a website is unsafe?

External connections to websites with phishing, malware, or unwanted software are known as unsafe domains. Phishing is when a website imitates another one in an effort to fool visitors into divulging personal or financial information. When you visit an insecure website, you run the risk of having your personal information compromised and/or having malicious malware installed on your system.

Additionally, you can fall prey to a phishing attack, or someone else might watch your activity or use your resources for their own gain. If the content you're seeking to view is harmful or misleading, a warning will appear. These websites are frequently referred to as phishing or virus sites. If you clicked on a phishing link, the first thing you should do is immediately unplug your device from the internet.

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Research some examples of organizations that experienced bad publicity and how they dealt with it. Write a paper detailing your findings.

Answers

Answer:

did you finish it cuase i got the same one

Explanation:

Admit the error, apologize, and present a solution if you or your company is receiving negative press as a result of anything you did incorrectly. Negative publicity won't disappear if you ignore it.

What do you mean by Negative publicity?

When damaging material is revealed, negative PR or publicity can take many different forms in company and can impact everything from sales to your reputation.

Various forms of unfavorable PR for your company could include: negative coverage of your business in the media, online, in publications, or on television.

In particular, we contend that by raising product awareness, unfavorable publicity might boost sales and purchase likelihood.

Negative publicity should therefore affect products differently depending on whether they are recognized or unknown. This viewpoint is supported by three investigations.

Your brand's reputation can be severely damaged in a matter of minutes by false information, negative reviews, and nasty social media remarks. Even worse, rumors spread swiftly and negatively impact the reputation of your company.

Negative publicity can have a significant impact on how potential customers see your brand. When customers publicly disparage a company, product, or service, this is known as bad publicity.

Bad publicity includes posting or publishing negative evaluations on websites, review pages, and social media accounts.

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Why are personal care aides expected to be paid so little in spite of being in such great demand?

Answers

Answer: Because they were the least educated, (something to do with that).

Explanation:

The ability to organize and evaluate what you watch, hear, and read is known as

Answers

Answer:

critical thinking skills

Explanation:

the definition is this word

A local Barnes and Noble paid a $79.99 net price for each hardbound atlas. The publisher offered a 20% trade discount. What was the publisher’s list price?

Answers

Answer:

i believe it would be 63.99

Explanation:

Based on the information given the publisher’s list price is:$99.99.

Using this formula

List price=Net price/(100%-2=Trade discount)

Where:

Net price=$79.99

Trade discount=20%

Let plug in the formula

List price=$79.99/(100%-20%)

List price =$79.99/80%

List price= $99.99

Inconclusion the publisher’s list price is:$99.99.

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What is the advantage of developing criteria for assessing the effectiveness of business products and processes?
A. Assessment criteria are answers.
B. Assessment criteria are inexpensive.
C. Assessment criteria provide you with a list of relevant things to measure.
D. Assessment criteria provide you with a list of people to contact to learn more about process mentoring.

Answers

Answer:

.Assessment criteria provide you with a list of relevant things to measure.

Explanation:

Assessment criteria provides a list by which one can measure success or failure of a business products and processes.

Answer:

c

Explanation:

What percent of the federal budget was spent on education in 2019?

Answers

Answer:

The President requests $59.9 billion in discretionary appropriations for the Department of Education in fiscal year 2019, an $8 billion or 12 percent reduction below the 2018 annualized Continuing Resolution (CR) level.

Your factory has a contract to produce a new folding chair. Your role as manager is to find the greatest efficiencies possible throughout the process, so you call a meeting with your planning department. One of your engineers suggests putting more workers on the line but breaking up the tasks into more individual steps. What is your greatest concern regarding this approach? A increased time spent in training B reduced production C poor conditions for workers D cost to hire skilled workers

Answers

Answer:

A

Explanation:

I took the test and it was right

Mary is earning a weekly salary of $521.60 as a payroll clerk. She has accepted a new assignment in the tax-processing department. In her new position, she will be paid an annual salary of $30,534.00. How much more would she earn per week in her new position?

Answers

Answer:

$65.60

Explanation:

Mary's current is $521.60.

In her new position, she will be earning $30,534.00.  Her new weekly income will be as follows. Assuming one year has 52 weeks.

New pay = $30,534.00/ 52

New pay =587.20

In her new job, she will earn more by( $587.20 - $521.60.) =$65.60

=$65.60

Select the best alternative for the following questions:
i. Which of the following transactions are not recorded in book keeping?
a) Sold Goods on Credit.
b)
Introduce capital in the business.
c) Resignation of marketing manager.
d) Drawing cash from business for personal use.
..​

Answers

Answer:

c. the resignation

Explanation:

this would not affect the bottom line of the company and is therefore irrelevant

The correct answer is c

Sam has take-home pay every month of $800. He anticipates that his expenses will add up to $675 for the month. In a zero-based budget, why is it important that she put the extra $125 in SOME budget category? Where might you suggest that Sam put the extra $125?

Answers

Answer:

Second savings account

Explanation:

Life is full of surprises... repairs or emergency cases this would be helpful to have

Answer:

In a zero based budget, your income needs to add up to zero at the end of every month. For that reason I recommend that if he still has money left over after paying bills and other expenses he should put in savings.

The role of the Federal Reserve Board of Governors is to:
A. loan money to multinational corporations.
B. set discount rates and reserve requirements.
O c. enforce monetary policy on Federal Reserve banks.
O D. establish new Federal Reserve districts.

Answers

The role of the Federal Reserve Board of Governors is to enforce monetary policy on Federal Reserve banks. Hence, Option C is correct.

What is monetary policy?

In macroeconomics, there is a policy whose duty is to make sure that policies that are made by the  Board of Governors have been applied to all the central banks. This policy is known as monetary policy, which manages the flow or supply of money to all the banks.

This policy also manages the interest rate. Just like other policies, monetary policy also has some tools, With the help of these tools, it is easy to manage the policy. Tools are named as operations for the open market, requirements of the reserve, and lastly rate of discount.

Therefore, Option C is correct.

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In which way are competitors stakeholders in a business?
A. They invest in competition
B. Competitors need to provide services
C. Competitors will want to position itself competitively
D. They enjoy learning about the competition

Answers

Answer:

B

Explanation:

l think so if u get it wrong and am sorry

waht do an engineer and an architect do?​

Answers

Create fix, build stuff, and many other things use google you’ll find more info on it too
An engineer builds products and buildings while architects plan out the way the engineers will build for a stable, working build.

Match the financial statement with its description. To match them, click the Description and then click the Financial Report Name

Answers

Answer:

a-3 / b-2 / c-4 / d-1

Explanation:

Notes to financial statements: Includes a summary of significant accounting policies and explanations of specific items on the financial statements.

The notes are required by the full disclosure principle. Also referred to as footnotes. Provide additional information pertaining to a company's operations and financial position.

Report of independent registered public accounting firm: Attests to the fairness of the presentation of the financial statements.

is a process designed to provide reasonable assurance regarding the reliability of financial reporting.

Management's discussion and analysis of financial condition and results of operations (MD&A): Is written by the company to help investors understand the results of operations and the financial condition of the company.

Disclosure is mandatory where there is a known trend or uncertainty that is reasonably likely to have a material effect on the registrant's financial condition or results of operations

Financial statements: Includes the income statement, balance sheet, statement of stockholders' equity, and statement of cash flows.

are reports prepared by a company's management to present the financial performance and position at a point in time.

Financial statements refer to how company communicates their finance. The financial statement that reflects a company’s profitability is hereby given below.

Financial statements in sheets

The various accounting activities that precedes financial statements are hereby matched below:

A. Statement of retained earnings or owner's equity

Include information of owner's retained earnings and dividends.

B. Income statement - Revenues

Shows revenues and expenses over a period of time.

C. Statement of cash flow

shows money moving in and out, categorized by operations, investing and finance

D. Balance Sheet

A snapshot of a company's assets, liabilities and equity at a specific moment in time.

Therefore, the answers are Statement of retained earnings or owner's equity, Income statement - Revenues, Statement of cash flow, Balance Sheet respectively.

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MULTIPLE CHOICE: Scar stole Mufasa's debit card and used it to buy a vacation package to the Savannah. Which account would the money come out of? (choices are savings, checking, certificate of deposit, and online checking)

Answers

Answer:

Savings.

It cannot come from certificate of deposit or online checking, since it is a debit card.

I need to submit this today, can you help me?


What are Washington D.C.’s people eating habits?

What are some economic facts about Washington DC?

What are some facts about Washington DC?

Culture and customs of Washington DC?

Travel information (Dubai to Washington DC)?

Answers

Answer:

I'm sure they eat well. have u try looking it up on goggle first

What is the difference between a salary and an hourly wage?​

Answers

Answer:

Explanation:

A salary stays the same amount no matter how many hours you work. An hourly wage, you get paid for each hour you work; you get payed on WHAT you work.

Which of the following is not one of the factors in determining a pension's final value?

A) Years of serivce
B) Level of education
C) Your age at retirement
D) Your highest salary/pay

Answers

Answer:

B

Explanation:

1. Give the three (3)
business resources​

Answers

Answer:

Financial Resources

Human Resources

Educational Resources

Explanation:

The Break-Even Point in your business is when


your company has repaid all of its debt

your company has exceeded its start up expectations

your company makes enough in revenue regularly to cover its expenses

your company repays all of the start up cost funding

Answers

Answer: In this letter you want to make sure that you are being clear and concise, so as to avoid any confusion about what your relationship will be in the future (ended). This means that you want to avoid any potential legal liability, and explain yourself in order to show that you are being fair and reasonable in your request.

Explanation:

What type of industry would Tim Hortons and McDonalds be classified as?

Answers

they would be classified as restaurants

when did Toronto​ pearson​Airport​(Canada) start​ using​ technology​ or​ scanner​

Answers

Answer:

Canada's busiest airport will soon start to use artificial intelligence- powered technology to detect weapons. The technology can detect both metallic and non-metallic weapons ranging from  guns and knives to explosives, according to Liberty Defense Holdings Ltd., a  Vancouver-based company which first marketed the technology.  Known as Hex wave, the technology works by capturing radar images, then using  artificial intelligence to analyze them for concealed weapons in bags or under clothing.   Liberty's CEO, Bill Riker explained, "radar essentially is emitting this form of energy,  it's reflecting off a person and it's identifying any items on a person's body that don't  belong on a body." The technology will start getting deployed at Pearson in the Spring of 2020 in a bid to boost  security, according to the Greater Toronto Airports Authority, which runs Pearson.

1. Calculate the Net Worth when Liabilities are $5,000 and Assets are $6,725​

Answers

The answer is 567.879 percent
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