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Harmon Household Products. Inc. manufactures a number of

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solution


Question

Harmon Household Products. Inc. manufactures a number of consumer items for general household use. One of these products, a chopping board, requires expensive hardwood. During a recent month, the company manufactured 4,000 chopping boards using 11,000 board feet of hardwood. The hardwood cost the company $18,700.;The company's standards for one chopping board are 2.5 board feet of hardwood at a cost of $1.80 per board foot.;1. What cost for wood should been incurred to make 4,000 chopping blocks? How much greater or less is this than the cost that was incurred?;2. Break down the difference computed in (1) above into a materials price variance and a materials quantity variance.;Harmon Household Products. Inc. manufactures a number of consumer items;for general household use. One of these products, a chopping board;requires expensive hardwood. During a recent month, the company;manufactured 4,000 chopping boards using 11,000 board feet of hardwood.;The hardwood cost the company $18,700.;The company???s standards for one chopping board are 2.5 board feet of;hardwood at a cost of $1.80 per board foot.;What cost for wood should been incurred to make 4,000 chopping blocks?;How much greater or less is this than the cost that was incurred?;Break down the difference computed in (1) above into a materials price;variance and a materials quantity variance.

 

Paper#26190 | Written in 18-Jul-2015

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