Homework Answers
| Direct materials cost variance = Actual cost-Standard cost |
| Direct materials cost variance = 535000-(60000*8)= 55000 unfavorable |
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Tercer reports the following for one of its products. 1 Direct materials standard (4 1bs. $2...
Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $2...
Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $2 per lb.) $ 8 per finished unit Actual finished units produced 60,000 units Actual cost of direct materials used $ 535,000 Compute the total direct materials cost variance and classify it as favorable or unfavorable. Direct materials cost variance Unfavorable
Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $2...
Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $2 per lb.) $ 8 per finished unit Actual finished units produced 60,000 units Actual cost of direct materials used $ 540,000 Compute the total direct materials cost variance and classify it as favorable, unfavorable or no variance.
Tercer reports the following for one of its products, Direct materials standard (4lbs 92 per lb.)...
Tercer reports the following for one of its products, Direct materials standard (4lbs 92 per lb.) Actual direct materials used (AQ) Metual finished units produced hetual cost of direct materials used 8 per finished unit 300,000 lbs. 60,000 units $535,000 AQ = Actual Quantity SQ = Standard Quantity AP Actual Price SP - Standard Price Print Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. Actual Cost Standard Cost
Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $3...
Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $3 per lb.) Actual finished units produced Actual cost of direct materials used $ 12 per finished unit 90,000 units $1,100,000 Compute the total direct materials cost variance and classify it as favorable, unfavorable or no variance. Direct materials cost variance
Tercer reports the following for one of its products. Direct materials standard (3 lbs. @ $3...
Tercer reports the following for one of its products. Direct materials standard (3 lbs. @ $3 per lb.) Actual direct materials used (AQ) Actual finished units produced Actual cost of direct materials used $ 9 per finished unit 270,000 lbs. 71,000 units $742,500 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Compute the direct materials price and quantity variances and classify each as favorable, unfavorable or no variance. Actual Cost Standard Cost
QS 8-8 Materials variances LO P2 Tercer reports the following for one of its products. Direct materials standard (4...
QS 8-8 Materials variances LO P2 Tercer reports the following for one of its products. Direct materials standard (4 lbs.@ $2 per 1b.) Actual direct materials used (AQ) Actual finished units produced Actual cost of direct materials used 8 per finished unit 400,00e lbs. 70,000 units $700,eee AQ Actual Quantity SQ = Standard Quantity AP Actual Price SP = Standard Price Compute the direct materials price and quantity variances and classify each as favorable or unfavorable Actual Cost Standard Cost
QS 21-7 Materials variances exception LO P2 Tercer reports the following for one of its products. Direct materials stan...
QS 21-7 Materials variances exception LO P2 Tercer reports the following for one of its products. Direct materials standard (10 lba. Actual finished units produced Actual coat of direct materials used $6 per lb.) $ 60 per finished unit 40,000 units $2,438,000 Compute the total direct materials cost variance and classify it as favorable or unfavorable. % Answer is complete but not entirely correct. Direct materials cost Unfavorable variance
QS 8-7 Materials variances exception LO P2 Tercer reports the following for one of its products....
QS 8-7 Materials variances exception LO P2 Tercer reports the following for one of its products. Direct materials standard (2 lbs. @ $5 per lb.) Actual finished units produced Actual cost of direct materials used $ 10 per finished unit 50,000 units $ 516,000 Compute the total direct materials cost variance and classify it as favorable or unfavorable. Direct materials cost variance
Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $3...
Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $3 per lb.) Actual direct materials used (AQ) Actual finished units produced Actual cost of direct materials used $ 12 per finished unit 350,000 lbs. 70,000 units $910,000 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Compute the direct materials price and quantity variances and classify each as favorable or unfavorable Actual Cost Standard Cost $ 0...
QS 21-8 Materials variances LO P2 Tercer reports the following for one of its products. Direct...
QS 21-8 Materials variances LO P2 Tercer reports the following for one of its products. Direct materials standard 4 lbs.$2 per lb.) Actual direct materials used (AQ) 8 per finiphed unit 340,000 lba Actual finished units produced Actual cost of direct materials used 72,000 units $612,000 AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price Compute the direct materials price and quantity variances and classify each as favorable or unfavorable Actual Cost Standard Cost AQ АР AQ...
Tercer reports the following for one of its products, Direct materials standard (4lbs 92 per lb.) Actual direct materials used (AQ) Metual finished units produced hetual cost of direct materials used 8 per finished unit 300,000 lbs. 60,000 units $535,000 AQ = Actual Quantity SQ = Standard Quantity AP Actual Price SP - Standard Price Print Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. Actual Cost Standard Cost
Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $3 per lb.) Actual finished units produced Actual cost of direct materials used $ 12 per finished unit 90,000 units $1,100,000 Compute the total direct materials cost variance and classify it as favorable, unfavorable or no variance. Direct materials cost variance
Tercer reports the following for one of its products. Direct materials standard (3 lbs. @ $3 per lb.) Actual direct materials used (AQ) Actual finished units produced Actual cost of direct materials used $ 9 per finished unit 270,000 lbs. 71,000 units $742,500 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Compute the direct materials price and quantity variances and classify each as favorable, unfavorable or no variance. Actual Cost Standard Cost
QS 8-8 Materials variances LO P2 Tercer reports the following for one of its products. Direct materials standard (4 lbs.@ $2 per 1b.) Actual direct materials used (AQ) Actual finished units produced Actual cost of direct materials used 8 per finished unit 400,00e lbs. 70,000 units $700,eee AQ Actual Quantity SQ = Standard Quantity AP Actual Price SP = Standard Price Compute the direct materials price and quantity variances and classify each as favorable or unfavorable Actual Cost Standard Cost
QS 21-7 Materials variances exception LO P2 Tercer reports the following for one of its products. Direct materials standard (10 lba. Actual finished units produced Actual coat of direct materials used $6 per lb.) $ 60 per finished unit 40,000 units $2,438,000 Compute the total direct materials cost variance and classify it as favorable or unfavorable. % Answer is complete but not entirely correct. Direct materials cost Unfavorable variance
QS 8-7 Materials variances exception LO P2 Tercer reports the following for one of its products. Direct materials standard (2 lbs. @ $5 per lb.) Actual finished units produced Actual cost of direct materials used $ 10 per finished unit 50,000 units $ 516,000 Compute the total direct materials cost variance and classify it as favorable or unfavorable. Direct materials cost variance
Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $3 per lb.) Actual direct materials used (AQ) Actual finished units produced Actual cost of direct materials used $ 12 per finished unit 350,000 lbs. 70,000 units $910,000 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Compute the direct materials price and quantity variances and classify each as favorable or unfavorable Actual Cost Standard Cost $ 0...
QS 21-8 Materials variances LO P2 Tercer reports the following for one of its products. Direct materials standard 4 lbs.$2 per lb.) Actual direct materials used (AQ) 8 per finiphed unit 340,000 lba Actual finished units produced Actual cost of direct materials used 72,000 units $612,000 AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price Compute the direct materials price and quantity variances and classify each as favorable or unfavorable Actual Cost Standard Cost AQ АР AQ...
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