Misty McDougall is the manager of the Adams Bagel Shop. The corporate office had budgeted her store to sell 2,600 ham sandwiches during the week beginning July 17. Each sandwich was expected to contain 7 ounces of ham. During the week of July 17, the store actually sold 3,200 sandwiches and used 22,900 ounces of ham. The standard cost of ham is $0.17 per ounce. The variance report from company headquarters showed an unfavorable materials usage variance of $799. Ms. McDougall thought the variance was too high, but she had no accounting background and did not know how to register a proper objection. Required a. Determine the material usage variance. Note: Indicate the effect of the variance by selecting favorable (F) or unfavorable (U), and select "None" if there is no effect (i.e., zero variance). Material usage variance
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- Farad, Inc., specializes in selling used trucks. During the month, Farad sold 50 trucks at an average price of $9,000 each. The budget for the month was to sell 45 trucks at an average price of $9,500 each. Compute the dealership’s sales price variance and sales volume variance for the month and classify each as favorable or unfavorable.Milltown Company sells used cars. During the month, the dealership sold 30 cars at an average price of $23,000 each. The budget for the month was to sell 26 cars at an average price of $24,200. Compute the dealership’s total sales variance for the month. Multiple choice. $36,000 unfavorable. $60,800 favorable. $36,000 favorable. $96,800 unfavorable. $96,800 favorable.Sunland Industries produces a cleaning product that works for the peskiest stains. It's pricey, but less expensive than hiring a professional cleaning service. The managers at Sunland are conducting variance analysis at the end of January, the first month of the new fiscal year. Budgeted fixed-MOH costs for the year were $2,534,400. The company's standards for one gallon of cleaning solution are as follows, along with actual information for the month. DM DL Variable-MOH Fixed-MOH ● ● ● Standard Quantity per Unit 0.5 gallons of solution 0.3 DL hours Actual results for January: ● 2.0 machine hours 2.0 machine hours. Show Transcribed Text Show Transcribed Text 26,000 gallons were actually produced. Cost of DM purchased was $250,560 for 14,400 gallons of solution. DM used in production was 12,740 gallons. Cost of DL was $133,796 for 8,060 DL hours worked. Variable-MOH cost was $117,390 for 54,600 machine hours used. Fixed-MOH cost was $223,860. Fixed-MOH price variance $ $17.00 per gallon…
- The restaurant projected 3,000 lunches to be sold for September at an average price of $5.50. The actual sales were 3,200 meals and food revenue of $18,400. Determine the price-volume variance ($)Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $460,000 for November, $440,000 for December, and $430,000 for January. Collections are expected to be 45% in the month of sale and 55% in the month following the sale. The cost of goods sold is 80% of sales. The company would like to maintain ending merchandise inventories equal to 60% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $25,200. Monthly depreciation is $16,200. Ignore taxes. Balance SheetOctober 31 Assets Cash $ 20,000 Accounts receivable 70,000 Merchandise inventory 153,000 Property, plant and equipment, net of $572,000 accumulated depreciation 1,094,000 Total assets $ 1,337,000 Liabilities and Stockholders' Equity Accounts payable $ 254,000 Common stock 820,000 Retained earnings…Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: • Sales are budgeted at $340,000 for November, $320,000 for December, and $310,000 for January. . Collections are expected to be 80% in the month of sale and 20% in the month following the sale. • The cost of goods sold is 75% of sales. • The company would like to maintain ending merchandise inventories equal to 60% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. • Other monthly expenses to be paid in cash are $24,000. . Monthly depreciation is $15,000. Ignore taxes. Assets Cash Balance Sheet October 31 Accounts receivable Merchandise inventory Property, plant and equipment, net of $572,000 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity The cost of December merchandise purchases would be: $…
- Jerry Jay is the CEO of Jerry's Jackets (JJ). In June, Jerry expects to produce and sell 3100 jackets, and he expects his June utilities cost to be $8,000 plus $0.70 per jacket. After the month ended, it was reported that 3000 jackets were sold in June and $10,190 was spent on utilities. What is the spending variance for utilities in June?Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $390,000 for November, $370,000 for December, and $360,000 for January. Collections are expected to be 40% in the month of sale and 60% in the month following the sale. The cost of goods sold is 80% of sales. The company would like to maintain ending merchandise inventories equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $24,500. Monthly depreciation is $15,500. Ignore taxes. Balance Sheet October 31 Assets Cash $ 20,500 Accounts receivable 70,500 Merchandise inventory 218,400 Property, plant and equipment, net of $572,500 accumulated depreciation 1,094,500 Total assets $ 1,403,900 Liabilities and Stockholders' Equity Accounts payable $ 254,500 Common stock 820,500 Retained earnings 328,900 Total…Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow. • Sales are budgeted at $450,000 for November, $430,000 for December, and $420,000 for January. Collections are expected to be 40% in the month of sale and 60% in the month following the sale. • The cost of goods sold is 75% of sales. • The company would like to maintain ending merchandise inventories equal to 65% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. • Other monthly expenses to be paid in cash are $25,100. • Monthly depreciation is $16,100. • Ignore taxes. . Assets Cash Accounts receivable Merchandise inventory. Property, plant and equipment, net of $573,100 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity The difference between cash receipts and cash disbursements for December would be:…
- Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: • Sales are budgeted at $230,000 for November, $210,000 for December, and $200,000 for January. . Collections are expected to be 40% in the month of sale and 60% in the month following the sale. The cost of goods sold is 65% of sales. • The company would like to maintain ending merchandise inventories equal to 55% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. • Other monthly expenses to be paid in cash are $22,900. • Monthly depreciation is $13,900. Ignore taxes. Assets Cash Balance Sheet October 31 Accounts receivable Merchandise inventory Property, plant and equipment, net of $574,300 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity Expected cash collections in December are: $ 22,300 72,300…Magnus, Inc. manufactures bedding sets. The budgeted production is for 61,000 comforters this year. Each comforter requires 6.5 yards of material. The estimated January 1 beginning inventory is 29,000 yards with the desired ending balance of 36,000 yards of material. The material costs $4.50 per yard. Determine the materials budget for the year. Plus Less Total Total Unit price (per Total req'd for inventory inventory to be to be MAGNUS, INC. Direct Materials Purchases Budget For the Year Ending December 31, 20Y9 : X $ $Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: • Sales are budgeted at $450,000 for November, $430,000 for December, and $420,000 for January. • Collections are expected to be 40% in the month of sale and 60% in the month following the sale. • The cost of goods sold is 75% of sales. The company would like to maintain ending merchandise inventories equal to 65% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. • Other monthly expenses to be paid in cash are $25,100. • Monthly depreciation is $16,100. • Ignore taxes. Assets Cash Balance Sheet October 31 Accounts receivable Merchandise inventory Property, plant and equipment, net of $573,100 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity The difference between cash receipts and cash disbursements…