Alpesh Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic.During the quarter ending June 30, the company manufactured 3,000 helmets, using 2,280 kilograms of plastic. The plastic cost thecompany $17,328.According to the standard cost card, each helmet should require 0.69 kilogram of plastic, at a cost of $8.00 per kilogram.Required:1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,000 helmets?2. What is the standard materials cost allowed (SQ × SP) to make 3,000 helmets?3. What is the materials spending variance?4. What are the materials price variance and the materials quantity variance?Note: For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and"None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.1. Standard quantity of kilograms allowed2. Standard cost allowed for actual output3. Materials spending variance4. Materials price variance4. Materials quantity variance

Standard Quantity and cost allowed: No. of Helmets 3500 Standard Kg's of plastic per helmet…

Answered: Bandar Industries manufactures sporting…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Hel Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,300 helmets, using 2,475 kilograms of plastic. The plastic cost the company $18,810. According to the standard cost card, each helmet should require 0.68 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,300 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 3,300 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard quantity of kilograms…
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