Munoz Fruit Drink Company planned to make 205,000 containers of apple juice. It expected to...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Munoz Fruit Drink Company planned to make 205,000 containers of apple juice. It expected to use two cups of frozen apple concentrate to make each container of juice, thus using 410,000 cups of frozen concentrate. The standard price of one cup of apple concentrate is $0.22. Munoz actually paid $121,272 to purchase 418,180 cups of concentrate, which was used to make 206,000 containers of apple juice.
Required:
Compute the actual price per cup of concentrate. (Round your answer to 2 decimal places.)
Compute the standard quantity (number of cups of concentrate) required to produce the containers.
Compute the materials price variance and indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance). Round "Price variance" to 2 decimal places.)
Compute the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance). Round "Usage variance" to 2 decimal places.)
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.