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Which of the following is used to compute the standard quantity of material allowed for the...
4. During April, 10,000 units were produced. The standard quantity of material allowed per unit was...
4. During April, 10,000 units were produced. The standard quantity of material allowed per unit was 4 pounds at a standard price of $6.00 per pound. If there was an unfavorable materials quantity variance of $15,000 for April, the actual quantity of materials used must be: a. 9,375 pounds b. 10,625 pounds. с. 37,500 роunds. d. 42,500 pounds е. 40,000 рounds.
the following standards have been established for a raw material used to make product O84 The...
the following standards have been established for a raw
material used to make product O84
The following standards have been established for a raw material used to make product 084: Standard quantity of the material per unit of output Standard price of the material 8.1 meters $ 19.30 per meter The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output 4,400 meters $ 88,880 4.100 meters...
24. Standard costing can be used to apply costs for which of the following? Select one...
24. Standard costing can be used to apply costs for which of the following? Select one Direct Materials b. Direct Labor Indirect Materials and Indirect Labor c d. Factory Utilities All of the above can be applied using standard costing a. Tab e 25. Reasons for using standard costing include their usefulness in: Select one: Caps L a. Preparing flexible budgets b. Preparing master budgets c Establishing selling prices d. Preparing performance reports e All of the above Shift 1...
Consider the following information: Direct material purchased and used, 94,000 gallons Standard quantity of direct material...
Consider the following information: Direct material purchased and used, 94,000 gallons Standard quantity of direct material allowed for May production, 91,600 gallons Actual cost of direct materials purchased and used, $233,000 Unfavorable direct-material quantity variance, $6,240 The direct-material price variance is: Multiple Choice Ο $11,400 Ε. Ο $7,440 F. Ο $11,400 U. Ο $7,440 U.
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....
Riley Company provides the following information for Material A: Actual quantity purchased and used 6,500 lbs....
Riley Company provides the following information for Material A: Actual quantity purchased and used 6,500 lbs. Standard quantity allowed 6,000 lbs. Actual price $3.80 Standard price $4.00 A. What was the direct material quantity variance for Material A? B. What was the direct material price variance for Material A?
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price Standard or Hours or Rate Cost Direct materials 3 feet $5 per foot $ 15 Direct labor 7 hours 7 per hour ? During March, the company purchased direct materials at a cost of $52,740, all of which were used the production of 2,750 units of product. In addition, 4,500 direct labor-hours were worked on the product during the month. The cost of...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours 3 feet ? hours Standard Price or Rate $5 per foot ? per hour Standard Cost $ 15 ? Direct materials Direct labor During March, the company purchased direct materials at a cost of $49,170, all of which were used in the production of 2,750 units of product. In addition, 4,500 direct labor-hours were worked on the product during the month. The cost...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours 3 feet ? hours Standard Price or Rate $5 per foot ? per hour Standard Cost $15 Direct materials Direct labor During March, the company purchased direct materials at a cost of $44,100, all of which were used in the production of 2,350 units of product. In addition, 4,800 hours of direct labor time were worked on the product during the month. The...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price Standard or Hours or Rate Cost 3 feet $5 per foot $ 15 2 hours ? per hour ? Direct materials Direct labor During March, the company purchased direct materials at a cost of $60,120, all of which were used in the production of 3,200 units of product. In addition, 4,900 direct labor-hours were worked on the product during the month. The cost...
4. During April, 10,000 units were produced. The standard quantity of material allowed per unit was 4 pounds at a standard price of $6.00 per pound. If there was an unfavorable materials quantity variance of $15,000 for April, the actual quantity of materials used must be: a. 9,375 pounds b. 10,625 pounds. с. 37,500 роunds. d. 42,500 pounds е. 40,000 рounds.
the following standards have been established for a raw
material used to make product O84
The following standards have been established for a raw material used to make product 084: Standard quantity of the material per unit of output Standard price of the material 8.1 meters $ 19.30 per meter The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output 4,400 meters $ 88,880 4.100 meters...
24. Standard costing can be used to apply costs for which of the following? Select one Direct Materials b. Direct Labor Indirect Materials and Indirect Labor c d. Factory Utilities All of the above can be applied using standard costing a. Tab e 25. Reasons for using standard costing include their usefulness in: Select one: Caps L a. Preparing flexible budgets b. Preparing master budgets c Establishing selling prices d. Preparing performance reports e All of the above Shift 1...
Consider the following information: Direct material purchased and used, 94,000 gallons Standard quantity of direct material allowed for May production, 91,600 gallons Actual cost of direct materials purchased and used, $233,000 Unfavorable direct-material quantity variance, $6,240 The direct-material price variance is: Multiple Choice Ο $11,400 Ε. Ο $7,440 F. Ο $11,400 U. Ο $7,440 U.
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....
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price Standard or Hours or Rate Cost Direct materials 3 feet $5 per foot $ 15 Direct labor 7 hours 7 per hour ? During March, the company purchased direct materials at a cost of $52,740, all of which were used the production of 2,750 units of product. In addition, 4,500 direct labor-hours were worked on the product during the month. The cost of...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours 3 feet ? hours Standard Price or Rate $5 per foot ? per hour Standard Cost $ 15 ? Direct materials Direct labor During March, the company purchased direct materials at a cost of $49,170, all of which were used in the production of 2,750 units of product. In addition, 4,500 direct labor-hours were worked on the product during the month. The cost...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours 3 feet ? hours Standard Price or Rate $5 per foot ? per hour Standard Cost $15 Direct materials Direct labor During March, the company purchased direct materials at a cost of $44,100, all of which were used in the production of 2,350 units of product. In addition, 4,800 hours of direct labor time were worked on the product during the month. The...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price Standard or Hours or Rate Cost 3 feet $5 per foot $ 15 2 hours ? per hour ? Direct materials Direct labor During March, the company purchased direct materials at a cost of $60,120, all of which were used in the production of 3,200 units of product. In addition, 4,900 direct labor-hours were worked on the product during the month. The cost...
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