M22-17: Materials Variance North Wind Manufacturers decorative weather that has a standard materials cost of two pounds of raw materials at…

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M22-17: Materials Variance

North Wind Manufacturers decorative weather that has a standard materials cost of two pounds of raw materials at $1:60 per pound. During September 10,000 pounds of raw materials costing $1:55 per pound were used in making 4,800 weather vanes.

Determine the materials price and quantity variance?

 

M22-19: Direct Labor Variances

Assume that Nortel manufacturers specialty electronic circuitry through a unique photo electronic process. One of the primary products, Model ZX40, has a standard labor time of 0.5 hour and a standard labor rate of $13:50 per hour. During February, the following activities pertaining to direct labor for ZX40 were recorded:

                Direct labor hours used…………..2,180

                Direct labor cost…………….….…$34,000

                Units of ZX40 manufactured…..4,600

a.       Determine labor rate variance

b.      Determine the labor efficiency variance

c.       Determine the total flexible  budget labor cost variance

 

M22-20: Significance of Direct labor variances

The Morgan Company’s April budget called for labor costs of $125,000. Because the actual labor costs were exactly $125,000, management concluded there were no labor variances.

Comment on management’s conclusion.

M24-15a: NPV and IRR: Equal Annual Net Cash Inflow

 

M24-16a: NPV and IRR: Equal Annual Net Cash Inflow

 

M24-17a: Payback period and Accounting Rate of Return: Equal Annual Operating cash Flows with Disinvestment.

 

M24-28(a, b) Ranking Investment Proposals: Payback Period, Annual Accounting Rate of Return, and Bet Present Value (only use NPV and Payback Period).

       

 

Proposal X

Proposal Y

Proposal Z

Initial investment

 

 

 

Cash Flow from operations

 

 

 

    Year 1

 

 

 

    Year 2

 

 

 

    Year 3

 

 

 

Disinvestment

 

 

 

Life (years)

 

 

 

 

a.       Rank these investment proposals using the payback period, the accounting rate of return on initial investment, and the net present value criteria. Assume that the organization’s cost of capital is 14%. Round calculations to four decimal places.

 

 

b.      Explain the difference in rankings. Which investment would you recommend?

 

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