Last year, the price for thermometer covers in a pediatrician’s office was $0.05 each. This year, the covers cost $0.06 each. If the office purchased 10,000 thermometer covers this year, what is the price variance?

Q: A company that manufectures air-operated drain valve assemblies currently has $130,000 available to…

A: The uniform annual amount that can be spent is calculated considering the interest on the remaining…

Q: Covers book store showed the following operating budget for next year: Sales were $1942217, t Fixed…

A: Variable cost =$1210000 Fixed cost =$450000 Variable cost decrease by 10% Now variable cost  New…

Q: What is the product margin? Should Janet make these proposed changes to her fees?  You will answer…

A: Marginal costing is used by the management widely to determine the cost of an extra unit produced by…

Q: Sunland Family Instruments makes cellos. During the past year, the company made 6,610 cellos even…

A: Standard labor rate = actual labor rate - 0.50 = 20 - 0.50 = $19.50 per hour

Q: Farad, Inc., specializes in selling used trucks. During the month, Farad sold 50 trucks at an…

A:

Q: In a recent year, BMW sold 182,158 of its 1 Series cars. Assume the company expected to sell 191,158…

A: Formula: Sales price variance = ( Actual quantity x actual price ) - ( Actual quantity x standard…

Q: A souvenir shop has the following information about T-shirt sales. What is the quantity variance of…

A: Revenue Variance: Revenue Variance is calculated to measure the difference between the expected…

Q: Janet Gilbert is director of labs.  She has some extra capacity and has contracted with some small…

A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

Q: Dorcan Corporation manufactures and sells T-shirts imprinted with college names and slogans. Last…

A: Break-even point:   It is a point when the company is at no gain and no loss situation. It is…

Q: After conducting a market research​ study, Magnificent Manufacturing decided to produce a new…

A: After conducting a market research​ study, Magnificent Manufacturing decided to produce a new…

Q: Dorcan Corporation manufactures and sells T-shirts imprinted with college names and slogans. Last…

A: Particulars Amount ($) Sales price per unit 7.50 Less: Variable Cost (2.25) Contribution Per…

Q: Holland Company is a garden products wholesale firm. In December, Holland Company expects to sell…

A: Variance analysis shows the differences between the actual and standard results and also shows the…

Q: Tracy needs some additional assistance.  She has compared her budget to what actually happened this…

A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS         1)  Explanation: Material   price…

Q: Durant Company manufactures glass bottles for dairy products. The contribution margin is $0.42 per…

A: Net contribution margin after recall  = Actual contribution margin - Additional cost incurred due to…

Q: MajorNet Systems is a start-up company that makes connectors for high-speed Internet connections.…

A: Sales volume variance for total costs = (Budgeted sales volume -Actual sales volume)* budgeted…

Q: 29. During the month of March, Baker's Express purchased 10,000 pounds of four at $i per pound. At…

A: Hey there since you have posted multiple questions, we can answer only first question for you,…

Q: Home Town Company manufactures recliners. The budgeted sales price is $613 per​ recliner, the…

A: Operating income is the excess of the contribution over the fixed cost.

Q: Tracy needs some additional assistance.  She has compared her budget to what actually happened this…

A: Material quantity variance Meaning :- A material quantity variance is the difference between the…

Q: What is the optimal order quantity with respect to so many lot sizes? What would be the optimal…

A: Given information is: Bostick Company is a distributor of air filters to retail stores. It buys its…

Q: If the budget for your hotel had 100 rooms, open 300 days a year, with 50% occupancy and an ADR of…

A: Part-D Marginal Cost Variance = ( Budgeted Rate - Actual Rate ) x Actual Rooms Sold Part-E Room…

Q: Last year, the retailer's weekly variance of demand was 500 units. The variance of orders was 600,…

A: calculation of above requirement are as follows

Q: Dorcan Corporation manufactures and sells T-shirts imprinted with college names and slogans. Last…

A: Breakeven sales units = Fixed costs/Contribution per unit    So,  Fixed costs = Breakeven sales…

Q: For the coming period Candy has budgeted to purchase and use 41,650 ounces of icing at $0.21 an…

A: Variance is the amount of deviation from the pre-set standards of the company. Variance is found…

Q: Lightsey Natural Dying Corporation measures its activity in terms of skeins of yarn dyed. Last…

A: Please find the answer to the above question below:

Q: A company that manufactures air-operated drain valve assemblies currently has $85,000 available to…

A: Computation:

Q: 1. Calculate the standard direct materials cost per unit. 2. Without performing any calculations,…

A:

Q: Antique Brass Company has budgeted sales volume of 120,000 units and budgeted production of 108,000…

A: Ending finished goods inventory = beginning finished goods inventory + budgeted production units -…

Q: Campbell Company manufactures and sells adjustable canopies that attach to motor homes and trailers.…

A: Breakeven sales revenue is the amount of sales revenue at which business is recovering its fixed…

Q: Farad, Inc., specializes in selling used trucks. During the month, Farad sold 52 trucks at an…

A:

Q: Camille forecasts to sell 575 units of the perfume she is selling by the first week of December. At…

A: Sales volume variance = (Units sold - Projected units sold) x Price per unit = (500 - 575) x Php…

Q: A company that manufactures air-operated drain valve assemblies currently has $110,000 available to…

A: Uniform annual amount: The spending amount remains same over next couple of periods called uniform…

Q: MajorNet Systems is a start-up company that makes connectors for high-speed Internet connections.…

A: Variance:   Variance refers to the difference level in the actual cost incurred and standard cost.…

Q: A 100-room hotel budgeted an occupancy of 75% and an average room rate of $100 per room for year…

A: Material Quantity variance=(Actual quantity-Standard Quantity) Standard rate

Q: This month your vendor invoiced $31,500 in testing charges for your production run. The unit cost…

A: Average cost per unit= Divide the total cost for the month $31500 by the total units shipped this…

Q: Over a five-year period, Insurance Company X provides coverage for 80,000 homes, while Insurance…

A: Company x Total Coverage is 80,000 Claim percentage is 1% therefore, clain number is 800 Variance…

Q: Happy Gilmore produces snackpacks. In 2021, its highest and lowest production levels occurred in…

A: Variable cost per unit = (Cost at highest production level - Cost at lowest production level)…

Q: If the budget for your hotel had 100 rooms, open 300 days a year, with 50% occupancy and an ADR of…

A: Note:- Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: PIM Industries Incorporated manufactures electronics components. Each unit costs $50 before the…

A: Operating profits are the total earnings of the entity over a specific period of time that is…

Q: Bright Night, Inc., manufactures light bulbs. Its purchasing policy requires that the purchasing…

A: A buying policy is a set of regulations that govern how requests are handled. By building a policy…

Q: ProNet Systems is a start-up company that makes connectors for high-speed Internet connections. The…

A: Flexible budget variance is the difference between the actual cost and the budgeted cost. If the…

Q: A service garage uses 204 boxes of cleaning cloths a year. The boxes cost $12 each. The cost to…

A: Annual requirement = 204 Boxes Order size = 12 Boxes Ordering cost per order = $ 15 Annual holding…

Q: Statin company expected to sell 3000 masks for $200 each but ended up selling 7500 for $150 each.…

A: Margin mixture variance :— It is the multiplication of Standard margin and difference of actual…

Q: Tracy needs some additional assistance.  She has compared her budget to what actually happened this…

A: Material Quantity Variance Material quantity variance is the difference between the standard cost of…

Q: During the last quarter a company had a bad sales and it's budgeted results are as given below:…

A: Marginal costing is an costing method and it is the variable cost of one unit of a product. Marginal…

Q: The production cost for a waterproof phone case is $9 per unit and fixed costs are $28,000 per…

A: Standard variable cost per unit = $9 Standard fixed cost = $28,000 Units = 5800 Total standard cost…

Q: For a Spring Sale event, a buyer plans to purchase 250 floral print dresses to retail for $79.99…

A: Markup % on Retail=Markup % on Cost100%+Markup % on Cost

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.