Answer:
Direct material price variance= $12,500 unfavorable
Explanation:
Giving the following formula:
The standard price per pound is $2.00.
The actual quantity of materials purchased and used in production is 50,000 pounds.
The actual purchase price per pound of materials was $2.25.
<u>To calculate the direct material price (spending) variance, we need to use the following formula:</u>
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (2 - 2.25)*50,000
Direct material price variance= $12,500 unfavorable
Answer:
Financial markets help to efficiently direct the flow of savings and investment in the economy in ways that facilitate the accumulation of capital and the production of goods and services.
The average score of the student in the class at a 99% confidence lies between 1.252 and 3.028
Explanation:
Given values are
n = 14 = 2.14 σ = 1.29 z value for 99% confidence = 2.576
The mean is known one
= (z σ/√14)
= (2.576 ×1.29÷√14)
= 2.576 × 0.345
= 0.888
= mean- 0.888 = 2.14 - 0.888 = 1.252
= mean+0.888 = 2.14 + 0.888 = 3.028
The average score of the students in the class at a 99% confidence lies between 1.252 and 3.028
This statement is true. Teenagers have a higher price elasticity than do adults.
This is because teenagers does not have much income to spend so they can shift to other products also. Teenagers are also not addict to smoking or any other habits , Therefore price affects the demand of the product.
Price elasticity is defined as the ratio of the percentage change in quantity demanded due to percentage change in price.
Elasticity having more than 1 are relatively more elastic.
Adults have more income to spent so the demand do not effects due to change in price. As adults are more addicted to smoking then teenagers ,
addicted people did not consume less due to its price change.
To know more about price elasticity:
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Answer:
Using the weighted average method, the Equivalent units for material is:
= Units completed and transferred out + Equivalent closing material
= 375,000 + (97,000 units * 80% complete with respect to materials)
= 375,000 + 77,600
= 452,600 units
Equivalent units for conversion:
= Units completed and transferred out + Equivalent closing units with respect to conversion
= 375,000 + (97,000 * 30%)
= 375,000 + 29,100
= 404,100 units
