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PROBLEMIL 2. The standards for product J35 call for 1.0 pounds of...
2. The standards for product V28 call for 7.6 pounds of a raw material that costs...
2.
The standards for product V28 call for 7.6 pounds of a raw material that costs $18.00 per pound. Last month, 1,500 pounds of the raw material were purchased for $26,700. The actual output of the month was 170 units of product V28. A total of 1,400 pounds of the raw material were used to produce this output. The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the...
The following standards have been established for a raw material used to make product N04: Standard...
The following standards have been established for a raw material used to make product N04: Standard quantity of the material per unit of output 2.7 pounds Standard price of the material ........ $15.50 per pound The following data pertain to a recent month's operations: Actual material purchased.... 5,200 pounds Actual cost of material purchased......... $82,680 Actual material used in production....... 4,600 pounds Actual output.... 1,760 units of product N04 a. What is the materials price variance for the month? b....
The following labor standards have been established for a particular product: Standard labor-hours per unit of...
The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate 8.7 hours $15.60 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 8,600 hours $131,580 850 units What is the labor rate variance for the month?
he following materials standards have been established for a particular product: Standard quantity per unit of...
he following materials standards have been established for a particular product: Standard quantity per unit of output 5.0 pounds Standard price $ 13.80 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased 5,700 pounds Actual cost of materials purchased $ 63,480 Actual materials used in production 5,200 pounds Actual output 760 units The direct materials purchases variance is computed when the materials are purchased. What is the materials quantity variance for...
1) The standards for a product call for 2.5 pounds of a raw material that costs...
1) The standards for a product call for 2.5 pounds of a raw material that costs $6.10 per pound. Last month, 30,000 pounds of the raw material were purchased for $187,500. The actual output of the month was 9,000 units of the product. A total of 22,200 pounds of the raw material were used to produce this output. Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month? 2)...
Solve this problem with explanation. Chapter 10 - Standard costs Variance Problem 1 The following materials...
Solve this problem with explanation.
Chapter 10 - Standard costs Variance Problem 1 The following materials standards have been established for a particular product: Standard quantity per unit: 6.2 feet $ Stand price per foot: 13.60 The following data pertain to operations concerning the product for the last month: Actual materials purchased: 1,000 feet Actual cost of materials purchased: $ 13,300.00 Actual materials used in production: 400 feet Actual output: 60 units What is the materials price variance for the...
Solve this problem with explanation. Chapter 10 - Standard costs Variance Problem 1 The following materials...
Solve this problem with explanation.
Chapter 10 - Standard costs Variance Problem 1 The following materials standards have been established for a particular product: Standard quantity per unit: 6.2 feet $ Stand price per foot: 13.60 The following data pertain to operations concerning the product for the last month: Actual materials purchased: 1,000 feet Actual cost of materials purchased: $ 13,300.00 Actual materials used in production: 400 feet Actual output: 60 units What is the materials price variance for the...
The standards for product K17 call for 5 meters of a raw material that costs $10.40...
The standards for product K17 call for 5 meters of a raw material that costs $10.40 per meter Last month 2640 meters of the raw material were purchased for $27.324 The actual output of the month was 430 units of product K17 A total of 2,260 meters of the raw material were used to produce this output The direct materials purchases variance is computed when the materials are purchased a What is the materials price variance for the month? b....
The following materials standards have been established for a particular product: Standard quantity per unit of...
The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 5.6 pounds $14.40 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 6,600 pounds $64,080 6,100 pounds 820 units The direct materials purchases variance is computed when the materials are purchased. What is the materials quantity variance for the month?
thank you The following materials standards have been established for a particular product: Standard quantity per...
thank you
The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 4.8 pounds $13.60 per pound The following data pertain to operations concerning the product for the last month: 5,400 pounds Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output $63,280 4,900 pounds 740 units The direct materials purchases variance is computed when the materials are purchased What is the materials quantity variance for...
2.
The standards for product V28 call for 7.6 pounds of a raw material that costs $18.00 per pound. Last month, 1,500 pounds of the raw material were purchased for $26,700. The actual output of the month was 170 units of product V28. A total of 1,400 pounds of the raw material were used to produce this output. The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the...
The following standards have been established for a raw material used to make product N04: Standard quantity of the material per unit of output 2.7 pounds Standard price of the material ........ $15.50 per pound The following data pertain to a recent month's operations: Actual material purchased.... 5,200 pounds Actual cost of material purchased......... $82,680 Actual material used in production....... 4,600 pounds Actual output.... 1,760 units of product N04 a. What is the materials price variance for the month? b....
The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate 8.7 hours $15.60 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 8,600 hours $131,580 850 units What is the labor rate variance for the month?
Solve this problem with explanation.
Chapter 10 - Standard costs Variance Problem 1 The following materials standards have been established for a particular product: Standard quantity per unit: 6.2 feet $ Stand price per foot: 13.60 The following data pertain to operations concerning the product for the last month: Actual materials purchased: 1,000 feet Actual cost of materials purchased: $ 13,300.00 Actual materials used in production: 400 feet Actual output: 60 units What is the materials price variance for the...
Solve this problem with explanation.
Chapter 10 - Standard costs Variance Problem 1 The following materials standards have been established for a particular product: Standard quantity per unit: 6.2 feet $ Stand price per foot: 13.60 The following data pertain to operations concerning the product for the last month: Actual materials purchased: 1,000 feet Actual cost of materials purchased: $ 13,300.00 Actual materials used in production: 400 feet Actual output: 60 units What is the materials price variance for the...
The standards for product K17 call for 5 meters of a raw material that costs $10.40 per meter Last month 2640 meters of the raw material were purchased for $27.324 The actual output of the month was 430 units of product K17 A total of 2,260 meters of the raw material were used to produce this output The direct materials purchases variance is computed when the materials are purchased a What is the materials price variance for the month? b....
The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 5.6 pounds $14.40 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 6,600 pounds $64,080 6,100 pounds 820 units The direct materials purchases variance is computed when the materials are purchased. What is the materials quantity variance for the month?
thank you
The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 4.8 pounds $13.60 per pound The following data pertain to operations concerning the product for the last month: 5,400 pounds Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output $63,280 4,900 pounds 740 units The direct materials purchases variance is computed when the materials are purchased What is the materials quantity variance for...
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