![M9-9 (Algo) Calculating Direct Materials Cost Variances (LO 9. 3] Acoma, Inc., has determined a standard direct materials cos](http://img.homeworklib.com/questions/17fa28e0-7176-11ea-921b-27a32da03399.png?x-oss-process=image/resize,w_560)
Homework Answers
Question 1
Correct answer------------$4,840 Favorable
Working
| Material Price Variance | $ 5,500.00 | Favourable-F |
| Material quantity variance | $ 660.00 | Unfavourable-U |
| Total Material Variance (Material price variance + Material quantity variance) (5500+ (-660)) | $ 4,840.00 | Favourable-F |
Question 2
Answer----------
| Material Price Variance | $ 452.00 | Favourable-F |
| Material quantity variance | $ 1,292.00 | Unfavourable-U |
| Total Material spendind Variance | $ 840.00 | Unfavourable-U |
Working
| Actual DATA for | 2090 | Units | |
| Quantity (AQ) | Rate (AR) | Actual Cost | |
| Direct Material | 4520 | $ 3.70 | $ 16,724.00 |
.
| Standard DATA for | 2090 | Units | |
| Quantity (SQ) | Rate (SR) | Standard Cost | |
| [A] | [B] | [A x B] | |
| Direct Material | ( 2 feet x 2090 Units)=4180 feet | $ 3.80 | $ 15,884.00. |
.
| Material Price Variance | ||||||
| ( | Standard Rate | - | Actual Rate | ) | x | Actual Quantity |
| ( | $ 3.80 | - | $ 3.70 | ) | x | 4520 |
| 452 | ||||||
| Variance | $ 452.00 | Favourable-F | ||||
| Material Quantity Variance | ||||||
| ( | Standard Quantity | - | Actual Quantity | ) | x | Standard Rate |
| ( | 4180 | - | 4520 | ) | x | $ 3.80 |
| -1292 | ||||||
| Variance | $ 1,292.00 | Unfavourable-U | ||||
| Material Spending Variance | ||||||
| ( | Standard Cost | - | Actual Cost | ) | ||
| ( | $ 15,884.00 | - | $ 16,724.00 | ) | ||
| -840 | ||||||
| Variance | $ 840.00 | Unfavourable-U | ||||
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Knowledge Check 04 Calculate the direct materials spending variance when the direct materials price variance is...
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Acoma, Inc., has determined a standard direct materials cost per unit of $6.60 (2 feet < $3.30 per foot). Last month, Acoma purchased and used 4,410 feet of direct materials for which it paid $14,112. The company produced and sold 2,090 units during the month. Calculate the direct materials price, quantity, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations...
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need help with the journal
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Acoma, Inc., has determined a standard direct materials cost per unit of $6.60 (2 feet < $3.30 per foot). Last month, Acoma purchased and used 4,410 feet of direct materials for which it paid $14,112. The company produced and sold 2,090 units during the month. Calculate the direct materials price, quantity, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations...
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need help with the journal
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