Materials Quantity Variance
= (Standard Quantity - Actual quantity) * standard price
= (25,600*6 - 175,000) * 3.25
= (153,600 - 175,000)*3.25
= 69,550 Unfavorable
3) The following information is available for Maher Manufacturing Company. - Direct materials price standard is...
Use this information to answer the question that follow. The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.98; actual, $2.03 Standard yards per unit: standard, 4.62 yards; actual, 5.06 yards Units of production: 9,100 Calculate the direct materials quantity variance. a.$8,128.12 favorable b.$7,927.92 unfavorable c.$7,927.92 favorable d.$8,128.12 unfavorable Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,600 pounds of material, $5.00 and standard costs for...
Direct Materials Variances Bellingham Company produces a product that requires six standard pounds per unit. The standard price is $10 per pound. If 2,200 units used 12,800 pounds, which were purchased at $10.4 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance Unfavorable b. Direct materials quantity...
The following company information is available. The direct materials quantity variance is: Direct materials used for prodution Standard quantity for units produced Standard cost per gallon of direct material Actual cost per gallon of direct material 35,000 gallons 33,400 gallons $11.00 $11.20 Multiple Choice $17600 unfavorable. $17200 favorable $24,600 unfavorable Multiple Choice $17,600 unfavorable. $17.200 favorable. $24,600 unfavorable. $24,600 favorable. $17,200 unfavorable Use the following data to find the direct labor rate variance if the company produced 3,500 units during...
The standard materials cost to produce 1 unit of Product R is 6 pounds of material at a standard price of $50 per pound. In manufacturing 8,000 units, 47,000 pounds of material were used at a cost of $51 per pound. What is the direct materials quantity variance? Multiple Choice $47,000 unfevorable $47000 favorable $50,000 unfavcracle Multiple Choice $47,000 unfavorable. $47,000 favorable. $50,000 unfavorable $50,000 favorable. Prex 1 of 20 Next Fletcher Company collected the following data regarding production of...
Jones Company has the following standards for its single product: standard quantity standard price direct materials 11 pounds per unit $4.25 per pound direct labor 8 hours per unit $14.00 per hour variable overhead 8 hours per unit ?????? per hour Jones Company reported the following information for the month of October: 1. 9,140 units were produced. 2. The direct material quantity variance was $36,295 favorable. 3. The variable overhead spending variance was $1,520 favorable. 4. The total direct labor...
1.A company produces widgets with budgeted standard direct materials of 2 pounds per widget at $5 per pound. Standard direct labor was budgeted at 0.5 hour per widget at $15 per hour. The actual usage in the current year was 25,000 pounds (an actual cost of $4.75 per pound) and 3,000 hours (an actual rate of $17 per pound )to produce 10,000 widgets. What was the direct labor usage variance? A. $30,000 favorable. B. $25,000 favorable. C. $25,000 unfavorable. D....
Information concerning Johnston Co.'s direct materials costs is as follows: Standard price per pound Actual quantity purchased Actual quantity used in production Units of product manufactured Materials purchase-price variance-favorable Budget data for the period: Units to manufacture Units of direct materials $ 7.15 3,100 pounds 3,000 pounds 770 $ 925 1,070 4,280 pounds The direct materials usage variance for the period, rounded to two decimal places, is: Ο $437.00 favorable. Ο $572.00 unfavorable. Ο $782.00 favorable. Ο $572.00 favorable. Ο...
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 5.50 pounds 0.50 hours Direct materials Direct labor Standard Price or Rate $2.50 per pound $6.50 per hour Standard Cost $13.75 $ 3.25 During the most recent month, the following activity was recorded: a. Ten thousand six hundred pounds of material were purchased at a cost of $2.40 per pound. b....
The following information describes production activities of Mercer Manufacturing for the year. Actual direct materials used 22,000 lbs. at $4.35 per lb. 6,575 hours for a total of Actual direct labor used $128,870 Actual units produced 36,000 Budgeted standards for each unit produced are 0.50 pounds of direct material at $4.30 per pound and 10 minutes of direct labor at $20.60 per hour. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price AH...
Bellingham Company produces a product that requires 12 standard pounds per unit. The standard price is $9.5 per pound. If 3,400 units used 42,400 pounds, which were purchased at $9.02 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) 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 12 standard pounds...