Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. . the zhang manufacturing company purchased 4,000

. The Zhang Manufacturing Company purchased 4,000 pounds of direct material at $5.20 per pound....

90.2K

Verified Solution

Question

Accounting

. The Zhang Manufacturing Company purchased 4,000 pounds of direct material at $5.20 per pound. It used 2,700 pounds to make 5,000 finished units. The standard cost for direct material is $5.00 per pound and the quantity standard is 0.5 (one-half) pound per finished unit.

REQUIRED:

According to the appropriate standard, how much should the company have paid for the 4,000 pounds of direct material purchased? Determine the direct material price variance based on the amount of direct material purchased. According to the appropriate standard, how many pounds of direct material should have been used to make the 5,000 finished units? Determine the direct material quantity variance in pounds of direct material. Determine the direct material quantity variance in dollars. Prepare the following journal entries:

Record the purchase of direct material. Record the use of direct material.

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

In order to better understand one of the most important buffer systems in our body (the...

Chemistry
Q

Modern pennies are composed of zinc coated with copper. A student determines the mass of a...

Chemistry
Q

Design a one-week corrective exercise program for a friend or client. Your program must include the...

Medical Sciences
Q

Write the code in Java: 1. Create a method that displays your name in the console....

Programming
Q

An ascending grade of 4% and a descending grade of 2% intersect at STA 12+598 whose elevation...

Civil Engineering
Q

Suppose you were asked to give a presentation to a group of parents-to-be who are participating...

Psychology
Q

1. An 8-inch diameter (I.D.) pipe is filled to a depth equal to one-third of its...

Advance Math
Q

3 Air is being pumped into a balloon at a rate of r t 6t...

Calculus
Q

Kuzio Corporation produces and sells a single product. Data concerning that product appear below: ...

Accounting
Q

Nejedly Company completed 70,000 units during the year at a cost of $1,120,000. The beginning...

Accounting
Q

Bajo el mtodo secuencial de asignacin de costos del departamento de soporte a los departamentos...

Accounting
Q

If a company has sales of $110 in 2016 and $154 in 2017, the percentage...

Accounting