Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. *do not answer this question unless you include ex

*DO NOT ANSWER THIS QUESTION UNLESS YOU INCLUDE EXCEL FORMULAS* Calculating Materials Price and...

60.1K

Verified Solution

Question

Accounting

*DO NOT ANSWER THIS QUESTION UNLESS YOU INCLUDE EXCEL FORMULAS* Calculating Materials Price and Quantity Variances when Materials Purchased Does Not Equal Materials Used
Masik, Incorporated is analyzing its most current direct materials results against the budget.
Here is the standard cost information:
Standard Cost per Direct Material Standard Quantity per Unit Standard Cost per Unit
Direct Materials $ 9.502 $ 19.00
Actual cost information is below:
Units Produced 4,000
Materials Purchased 8,500
Material Used 7,800
Cost of Direct Materials $ 85,000
Required:
Fill in the cells below with required data for variance calculations and favorability. PROVIDE ALL EXCEL FORMULAS IN YOUR ANSWER.
Hint: Use the ABS() function to calculate amounts and use an IF() condition to determine the favorability of the variances.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

developmentally appropriate parenting changes in relation to the child’s age - What are healthy routines/structures/boundaries for 12-15...

Psychology
Q

Write the Verilog code for a 12-bit shift register with ability to shift left or right,...

Electrical Engineering
Q

Explain in detail the procedures that are required to make EIA atau AMDAL from preparation until...

Civil Engineering
Q

The random variable X is as follows rv X the cholesterol level of a randomly...

Statistics
Q

arry and Sally can both produce fish and fruit Sally can produce 1 kg of...

Algebra
Q

1. Conner Company borrows $203,600 cash on November 1, 2013, by signing a 120-day, 9%...

Accounting
Q

The Management of Cullumber Manufacturing Company is evaluating two forklift systems to use in its...

Accounting
Q

Direct Materials, Direct Labor, and Factory Overhead Cost Variance AnalysisSantiago Inc. processes a base chemical...

Accounting
Q

Assuming that $225,000 will be distributed as a dividend in the current year, how much...

Accounting
Q

The Molding Division of Cotwold Company manufactures a plastic casing used by the Assembly Division....

Accounting
Q

PROBLEM #2 Instructions Chart of Accounts Starting Questions Journal Instructions Modern Lighting Inc....

Accounting
Q

5. Junid is interested in investing in share market of Canada and France. He has...

Finance