3.
Materials quantity variance
= (Actual quantity - Standard quantity) x Standard price
= (11,370 - 10,500) x $1.00
= $870
The variance is unfavorable because the actual quantity is greater than the standard quantity.
Therefore, the correct answer is C) $870 U
4.
Materials price variance
= (Actual price - Standard price) x Actual quantity
= ($1.20 - $1.00) x 12,100
= $2,420
The variance is unfavorable because the actual price is greater than the standard price.
Therefore, the correct answer is D) $2,420 U
3) (Information for problems 3 through 8): Bulluck Corporation makes a product with the following standard...
Bulluck Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 3.5 grams $ 1.00 per gram Direct labor 0.7 hours $ 11.00 per hour Variable overhead 0.7 hours $ 2.00 per hour The company reported the following results concerning this product in July. Actual output 3,000 units Raw materials used in production 11,370 grams Actual direct labor-hours 1,910 hours Purchases of raw materials 12,100 grams Actual price of raw materials...
$870 U $1044 U $870 F $1044 F Bulluck Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 3.5 grams 1.00 per gram Direct labor e.7 hours $11.00 per hour Variable overhead e.7 hours $2.00 per hour The company reported the following results concerning this product in July. 3,e0e units 11,370 grams 1,910 hours 12,100 grams 1.20 per gram $11.40 per hour $ 2.10 per hour Actual output Raw materials...
27 Hurren Corporation makes a product with the following standard costs: Standard Cost Standard Quantity or Standard Price or Per Unit Rate Hours $22.40 $4.00 per gram 5.6 grams Direct materials $36.10 $19.00 per hour 1,9 hours Direct labor $7.60 $4.00 per hour 1.9 hours Varlable overhead The company reported the following results concerning this product in June. Originally budgeted output 5,400 units Actual output 5,300 units Raw materials used in production 28,500 grams Actual direct labor-hours 5,700 hours Purchases...
Gilder Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 7.70 grams $5.00 per gram $38.50 Direct labor 0.2 hours $17.00 per hour $3.40 Variable overhead 0.2 hours $5.00 per hour $1.00 The company reported the following results concerning this product in June. Originally budgeted output 6,700 units Actual output 6,800 units Raw materials used in production 39,300 grams Purchases of raw materials...
idd Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 4.4 grams $2.00 per gram $8.80 Direct labor 0.5 hours $15.00 per hour $7.50 Variable overhead 0.5 hours $2.00 per hour $1.00 The company reported the following results concerning this product in November. Originally budgeted output 9,200 units Actual output 9,300 units Raw materials used in production 44,760 grams Purchases of raw materials...
Hurren Corporation makes a product with the following standard costs: Standard Standard Price Standard Cost Quantity or Per Unit or Rate Hours $8.00 per gram Direct materials 4.0 grams $32.00 $7.20 $12.00 per hour Direct labor 0.6 hours Variable $8.00 per hour $4.80 0.6 hours overhead The company reported the following results concerning this product in June. 7,300 Originally budgeted output units Actual output 7,200 units Raw materials used in production 28,340 grams 4,100 Actual direct labor-hours hours Purchases of...
Bondi Corporation makes automotive engines. For the most recent month, budgeted production was 3,500 engines. The standard power cost is $1.50 per machine-hour. The company's standards indicate that each engine requires 11.3 machine-hours. Actual production was 3,800 engines. Actual machine-hours were 41,340 machine-hours. Actual power cost totaled $66,642. Required: Determine the rate and efficiency variances for the variable overhead item power cost and indicate whether those variances are unfavorable or favorable. (Indicate the effect of each variance by selecting "F"...
Hurren Corporation makes a product with the following standard costs! Direct materials Direct labor Variable overhead Standard Quantity of Standard Price or Hours Rate 3.5 grams $7.00 per gram 1.0 hours $10.00 per hour 10 hours $7.00 per hour Standard Cost Per Unit $24.50 $10.00 $7.00 The company reported the following results concerning this product in J Originally budgeted output 1 Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials...
Hurren Corporation makes a product with the following standard costs Direct materials Direct labor Variable overhead Standard Quantity od Standard Price or Hours Rate 10.00 grams $4.00 per gram 0.1 hours $17.00 per hour 0.1 hours $4.00 per hour Standard Cost Per Unit $40.00 $1.70 $0.40 The company reported the following results concerning this product in June. Originally budgeted output : Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials...
Blue Co. makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 7.4 grams $8.00 per gram Direct labor 0.3 hours $16.00 per hour Variable overhead 0.3 hours $7.00 per hour The company reported the following results concerning this product in July. Actual output 2,200 units Raw materials used in production 16,420 grams Purchases of raw materials 17,900 grams Actual direct labor-hours 720 hours Actual cost of raw materials purchases $141,410 Actual...