Business, 29.01.2021 02:20, sports1997

Guillermo's Oil and Lube Company is a service company that offers oil changes and lubrication for automobiles and light trucks. On average, Guillermo has found that a typical oil change takes 28 minutes and 6.2 quarts of oil are used. In June, Guillermo's Oil and Lube had 940 oil changes. Guillermo's Oil and Lube Company provided the following information for the production of oil changes during the month of June:

Actual number of oil changes performed: 940
Actual number of quarts of oil used: 6,740 quarts
Actual price paid per quart of oil: $5.20
Standard price per quart of oil: $5.15

Required:

1. Calculate the direct materials price variance (MPV) and the direct materials usage variance (MUV) for June using the formula approach. If required, round your answers to the nearest cent.

MPV $fill in the blank 1
382
Unfavorable
MUV $fill in the blank 3
Unfavorable
2. Calculate the total direct materials variance for oil for June. If required, round your answer to the nearest cent.

$fill in the blank 5

Unfavorable

3. What if the actual number of quarts of oil purchased in June had been 6670 quarts, and the materials price variance was calculated at the time of purchase? If required, round your answers to the nearest cent.

What would be the materials price variance (MPV)?

$fill in the blank 7

Unfavorable

What would be the materials usage variance (MUV)?

$fill in the blank 9

Unfavorable

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 01:20, nonjabulomabaso7423

For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. complete parts (a) through (c) below. x (cash prize, $) p(x) grand prizegrand prize 0.000000008860.00000000886 200,000 0.000000390.00000039 10,000 0.0000016950.000001695 100 0.0001582930.000158293 7 0.0039114060.003911406 4 0.0080465690.008046569 3 0.012865710.01286571 0 0.975015928140.97501592814 (a) if the grand prize is $13 comma 000 comma 00013,000,000, find and interpret the expected cash prize. if a ticket costs $1, what is your expected profit from one ticket? the expected cash prize is $nothing.

Answers: 3

continue

Business, 22.06.2019 11:50, Attaullah2519

Christopher kim, cfa, is a banker with batts brothers, an investment banking firm. kim follows the energy industry and has frequent contact with industry executives. kim is contacted by the ceo of a large oil and gas corporation who wants batts brothers to underwrite a secondary offering of the company's stock. the ceo offers kim the opportunity to fly on his private jet to his ranch in texas for an exotic game hunting expedition if kim's firm can complete the underwriting within 90 days. according to cfa institute standards of conduct, kim: a) may accept the offer as long as he discloses the offer to batts brothers. b) may not accept the offer because it is considered lavish entertainment. c) must obtain written consent from batts brothers before accepting the offer.

Answers: 1

continue

Business, 22.06.2019 18:20, daya88

Now ray has had the tires for two months and he notices that the tread has started to pull away from the tire. he has already contacted the place who sold the tires and calmly and accurately explained the problem. they didn’t him because they no longer carry that tire. so he talked with the manager and he still did not get the tire replaced. his consumer rights are being violated. pretend you are ray and write a letter to the company’s headquarters. here are some points to keep in mind when writing the letter: include your name, address, and account number, if appropriate. describe your purchase (name of product, serial numbers, date and location of purchase). state the problem and give the history of how you tried to resolve the problem. ask for a specific action. include how you can be reached.

Answers: 3

continue

Business, 22.06.2019 19:00, karmaxnagisa20

By 2020, automobile market analysts expect that the demand for electric autos will increase as buyers become more familiar with the technology. however, the costs of producing electric autos may increase because of higher costs for inputs (e. g., rare earth elements), or they may decrease as the manufacturers learn better assembly methods (i. e., learning by doing). what is the expected impact of these changes on the equilibrium price and quantity for electric autos?

Answers: 1

continue

Do you know the correct answer?

Guillermo's Oil and Lube Company is a service company that offers oil changes and lubrication for au...