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Question 1o Waterway has a standard of 1.5 pounds of materials per unit, at $6 per...
32. Patton has a standard of 1.5 pounds of materials per unit, at $6 per pound....
32. Patton has a standard of 1.5 pounds of materials per unit, at $6 per pound. In producing 2,000 units, Patton used 3,100 pounds of materials at a total cost of $18,135. Patton's materials quantity variance is Select one: a. $600 U. b. $465 U. c. $1,050 U. d. $135 F.
Need help on large speed bump. How to calculate standard pounds per unit and direct materials quantity variance? Last mo...
Need help on large speed bump. How to calculate standard pounds
per unit and direct materials quantity variance?
Last month, Banner Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. (Click the icon to view the table.) Complete the following table (Round your answers to two decimal places.) Large speed bump Data Table $ Medium speed bump Large speed bump 13 Direct materials information Standard pounds per unit Standard price per...
Find the question marks Medium speed bump 17 $ 1.00 Direct materials information Standard pounds per...
Find the question marks
Medium speed bump 17 $ 1.00 Direct materials information Standard pounds per unit.................. Standard price per pound ............ Actual quantity purchased and used per unit... Actual price paid for material per pound....... Direct materials price variance. Direct materials quantity variance. ........... Total direct material variance Number of units produced......... Large speed bump ? $ 1.30 17 1.80 $ 3,400 U $ 1.50 $ 1,500 u $ 400 F $ 1,840 U 400
Steel Plastic Product Names Direct materials information Standard pounds per unit Standard Price (SP) per pound...
Steel Plastic Product Names Direct materials information Standard pounds per unit Standard Price (SP) per pound Actual Quantity (AQ) used per unit Actual Price (AP) paid for material Actual Quantity Purchased (AQP) and used Price variance Quantity variance Flexible budget variance Number of units produced 2 lb. $3.25 1.5 lbs. $1.50 2,000 lbs. ? $650 U ? 400 2.5 lb. ? 3.5 lbs. $2.00 1,100 lbs. $1,232 F ? $726 F 575 What is the direct material quantity variance for...
Hanson Inc. has the following material standard to manufacture one unit of product: 1.5 pounds per...
Hanson Inc. has the following material standard to manufacture one unit of product: 1.5 pounds per Unit at $4.00 per pound Last week, 2,800 pounds of material were purchased at a total cost of $10,920, and 1,700 pounds were used to make 1,000 units. 3) Hanson’s material price variance (MPV) for the week was: $280 unfavorable. $280 favorable. $800 unfavorable. $800 favorable. 4) Hanson’s material quantity variance (MQV) for the week was: $5200 unfavorable. $5200 favorable. $800 unfavorable. $800 favorable.
Edgar, Inc. has a materials quantity standard of 4 pounds per finished unit and a material...
Edgar, Inc. has a materials quantity standard of 4 pounds per finished unit and a material price standard of S8.50 per pound. 228,000 pounds of materials were purchased and used in producing 56,000 units. Edgar, Inc.'s direct material quantity variance is a. $34,000 U b. $34,000 F. c. $57,000 U. d. $57,000 F. Seven years ago, Snap Company purchased a parcel of land adjacent to its factory for $15,000. Over the next few years, Snap spent $8,000 demolishing an existing...
Standard material cost per unit of product is 0.5 pounds at $7.40 per pound, and standard...
Standard material cost per unit of product is 0.5 pounds at
$7.40 per pound, and standard direct labor cost is 1.5 hours at
$13.00 per hour. The total actual materials cost represents 4,900
pounds purchased at $7.70 per pound. Total actual labor cost
represents 14,200 hours at $12.60 per hour. According to standards,
variable overhead rate is applied at $0.70 per direct labor hour
(based on a normal capacity of 15,000 direct labor hours or 10,000
units of product). Assume...
The standard materials cost to produce 1 unit of Product R is 7 pounds of material...
The standard materials cost to produce 1 unit of Product R is 7 pounds of material at a standard price of $47 per pound. In manufacturing 6,000 units, 41,000 pounds of material were used at a cost of $48 per pound. What is the total direct materials cost variance?
Soylent Corporation's standards for producing a particular product included 10 pounds of materials at $4 per...
Soylent Corporation's standards for producing a particular product included 10 pounds of materials at $4 per pound for each unit of output. Planned production for the period was 2,000 units of output. Actually, 1,800 units were produced, each using 11 pounds of materials purchased at $5 per pound. 20,000 pounds of materials were purchased during the period The standard cost allowed for actual output achieved is closest to? a. $80,000 b. $72,000 c. $90,000 d. $64,000 The materials price variance...
Bellingham Company produces a product that requires 7 standard pounds per unit. The standard price is...
Bellingham Company produces a product that requires 7 standard
pounds per unit. The standard price is $3 per pound. If 2,600 units
required 17,700 pounds, which were purchased at $3.12 per pound,
what is the direct materials (a) price variance, (b) quantity
variance, and (c) total direct materials cost variance? Enter a
favorable variance as a negative number using a minus sign and an
unfavorable variance as a positive number.
Direct Materials Variances Bellingham Company produces a product that requires...
32. Patton has a standard of 1.5 pounds of materials per unit, at $6 per pound. In producing 2,000 units, Patton used 3,100 pounds of materials at a total cost of $18,135. Patton's materials quantity variance is Select one: a. $600 U. b. $465 U. c. $1,050 U. d. $135 F.
Need help on large speed bump. How to calculate standard pounds
per unit and direct materials quantity variance?
Last month, Banner Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. (Click the icon to view the table.) Complete the following table (Round your answers to two decimal places.) Large speed bump Data Table $ Medium speed bump Large speed bump 13 Direct materials information Standard pounds per unit Standard price per...
Find the question marks
Medium speed bump 17 $ 1.00 Direct materials information Standard pounds per unit.................. Standard price per pound ............ Actual quantity purchased and used per unit... Actual price paid for material per pound....... Direct materials price variance. Direct materials quantity variance. ........... Total direct material variance Number of units produced......... Large speed bump ? $ 1.30 17 1.80 $ 3,400 U $ 1.50 $ 1,500 u $ 400 F $ 1,840 U 400
Steel Plastic Product Names Direct materials information Standard pounds per unit Standard Price (SP) per pound Actual Quantity (AQ) used per unit Actual Price (AP) paid for material Actual Quantity Purchased (AQP) and used Price variance Quantity variance Flexible budget variance Number of units produced 2 lb. $3.25 1.5 lbs. $1.50 2,000 lbs. ? $650 U ? 400 2.5 lb. ? 3.5 lbs. $2.00 1,100 lbs. $1,232 F ? $726 F 575 What is the direct material quantity variance for...
Edgar, Inc. has a materials quantity standard of 4 pounds per finished unit and a material price standard of S8.50 per pound. 228,000 pounds of materials were purchased and used in producing 56,000 units. Edgar, Inc.'s direct material quantity variance is a. $34,000 U b. $34,000 F. c. $57,000 U. d. $57,000 F. Seven years ago, Snap Company purchased a parcel of land adjacent to its factory for $15,000. Over the next few years, Snap spent $8,000 demolishing an existing...
Standard material cost per unit of product is 0.5 pounds at
$7.40 per pound, and standard direct labor cost is 1.5 hours at
$13.00 per hour. The total actual materials cost represents 4,900
pounds purchased at $7.70 per pound. Total actual labor cost
represents 14,200 hours at $12.60 per hour. According to standards,
variable overhead rate is applied at $0.70 per direct labor hour
(based on a normal capacity of 15,000 direct labor hours or 10,000
units of product). Assume...
Bellingham Company produces a product that requires 7 standard
pounds per unit. The standard price is $3 per pound. If 2,600 units
required 17,700 pounds, which were purchased at $3.12 per pound,
what is the direct materials (a) price variance, (b) quantity
variance, and (c) total direct materials cost variance? Enter a
favorable variance as a negative number using a minus sign and an
unfavorable variance as a positive number.
Direct Materials Variances Bellingham Company produces a product that requires...
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