Materials Price Variance = (SP-AP) *AQ
= (2.40 - 12760/5800) * 5800
= 1160 Favourable (No minus sign needed)
.
Materials Quantity Variance = (SQ-AQ) * SP
= (1800*2.60 - 4600)*2.40
= 192 Favourable
CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK NEXT Problem 11-2 Your answer is partially...
Marx Tees is a manufacturer of T-shirts. The standard amount of 100% cotton jersey fabric used to make each T-shirt is 2.40 yards. The standard price per yard of the fabric is $2.84. During last month, Marx purchased 6,200 yards of the jersey fabric for $17,360. The production department used 5,300 yards to produce 1,600 T-shirts during the month. Compute the material price and quantity variances. (Round answers to o decimal places, e.g. 125. Enter all variances as a positive...
Granger Tees is a manufacturer of T-shirts. The standard amount of 100% cotton jersey fabric used to make each T-shirt is 3.00 yards. The standard price per yard of the fabric is $2.31. During last month, Granger purchased 6,300 yards of the jersey fabric for $13,860. The production department used 4,900 yards to produce 1,800 T-shirts during the month. Compute the material price and quantity variances. (Round answers to 0 decimal places, e.g. 125. Enter all variances as a positive...
0. T's Inc is a manufacturer of T-shirts. The standard amount of 100% cotton jersey fabric sed to make each T-shirt is 2.3 yards. The standard price per yard of the fabric is $2.75 During the prior month, T's Inc purchased 6,200 yards of the jersey fabric for $13,000. The production department used 5,000 yards to produce 1,800 T-shirts during that month. Compute the material price variance and material quantity variance.
FULL SCREtN PRINTER VERSION ㅖ BACK NEXT Rudd Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 2017, 10,100 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 14,000 direct labor hours. All materials purchased were used. Standard (per unit) Actual Cost Element Direct materials Direct labor Overhead 9 yards at $4.00 per yard 1.10 hours at $14.00...
Stratton, Ltd. manufactures shirts, which it sells to customers for embroidering with various slogans and emblems. The standard cost card for the shirts is as follows. Standard Price Standard Quantity Standard Cost Direct materials $3 per yard 2.00 yards $6.00 Direct labor $14 per DLH 0.75 DLH 10.50 Variable overhead $3.2 per DLH 0.75 DLH 2.40 Fixed overhead $3 per DLH 0.75 DLH 2.25 $21.15 Sandy Robison, operations manager, was reviewing the results for November when he became upset by...
Bramble, Ltd. manufactures shirts, which it sells to customers for embroidering with various slogans and emblems. The standard cost card for the shirts is as follows. Bramble, Ltd. manufactures shirts, which it sells to customers for embroidering with various slogans and emblems. The standard cost card for the shirts is as follows. Direct materials Direct labor Variable overhead Fixed overhead Standard Price Standard Quantity Standard Cost $4 per yard 1.50 yards $6.00 $12 per DLH 0.50 DLH 6.00 $4 per...
Part 1, 2, & 3 Check my work During May. Joliet Fabrics Corporation manuf nformation from the Stylex production department also pertains t octured 620 unts floyer fabric with the trade name Stylex The tollowing Direet material purchased: 19,200 yards at $1.50 per yard Direct material used: 10,700 yards at $1.50 per yard Direct labor: 3,300 hours at $9.27 per hour $ 28,800 16,050 30,591 The standard prime costs for one unit of Stylex are as follows Direct material: 20...
nouncements Help I S CALCULATOR PRINTER VERSION 4 BACK NEXT Brief Exercise 193 During March, Patt, Inc. purchases and uses 8,800 pounds of materials costing $35,640 to make 4,000 tiles. Patt's standard material cost per tile is $8 (2 pounds of material x $4.00) Compute the total, price, and quantity material variances for Patt, Inc. for March. Identify whether the variance is favorable or unfavorable? on 34v ion 26 Total Materials Variance on 37 Materials Price Variance ?? Materiais Quantity...
Problem 24-03A a-b Your answer is partially correct. Try again Rudd Clothiers is a small company that manufactures tallmen's suits. The company has used a standard cost accounting system. In May 2020, 10,200 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 16,500 direct labor hours. All materials purchased were used. Cost Element Direct materials Direct labor Overhead Standard (per unit) 10 yards at $4.90 per yard 1.10 hours...
Concord, Ltd. manufactures shirts, which it sells to customers for embroidering with various slogans and emblems. The standard cost card for the shirts is as follows. Standard Price Standard Quantity Standard Cost Direct materials $4 per yard 1.50 yards $6.00 Direct labor $12 per DLH 0.50 DLH 6.00 Variable overhead $4 per DLH 0.50 DLH 2.00 Fixed overhead $6 per DLH 0.50 DLH 3.00 $17.00 Sandy Robison, operations manager, was reviewing the results for November when he became upset by...