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Favorable or unfavorable?
Homework Answers
Materials Quantity Variance
= (SQ-AQ) * SP
= (220*10 - 2100) * 4
= (2200 - 2100) * 4
= 100 * 4
= $400 Favourable
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Favorable or unfavorable?
BULJLIUM10.JPURILJ) You have this data for a product made by ToolTime Company. Direct Materials standards are Quantity standard - 1.5 pounds Price standard - $4 per pound 2,000 units were produced in April. During April, the company actually purchased and used 3,100 pounds...
please know that an incorrect answer from you will result in a downvote, negative feedback, and...
please know that an incorrect answer from you will result in a
downvote, negative feedback, and a tweet to customer service. The
correct answer will receive an upvote and positive feedback
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Favorable or unfavorable?
You have this data for a product made by Shows Company. Direct Labor standards are Quantity standard - 2 hours Price standard - $14 per hour 1,500 units were produced in September. During September, the company actually used 3,100 hours of direct labor...
Please understand that an incorrect answer from you will trigger negative feedback and a downvote from...
Please understand that an incorrect answer from you will trigger
negative feedback and a downvote from me.
Witter Company had the following information: Selling price per unit $240 Variable costs per unit Manufacturing $120 Selling and administrative $24 Fixed costs per month Manufacturing $160,000 Selling and administrative $80,000 What is the flexible budget net income for 15,000 units? $3,600,000 $1,440,000 $3,240,000 $1,200,000
Knowledge Check 02 Pastel Papers Inc. produces wrapping paper. The standard direct materials quantity is 0.20 pound per...
Knowledge Check 02 Pastel Papers Inc. produces wrapping paper. The standard direct materials quantity is 0.20 pound per unit and the standard rate is $0.30 per pound. During June, the company actually purchased and used 1,800 pounds of direct materials to produce 7,500 units, at an average cost of $0.40 per pound. Calculate the direct materials price variance. $180 favorable $750 favorable $750 unfavorable $180 unfavorable Pastel Papers Inc. produces wrapping paper. The standard direct materials quantity is 0.20 pound...
I know you can only answer the first four but if you could include the formulas...
I know you can only answer the first four
but if you could include the formulas for the other 2 I would
appreciate it. Thanks
30. The labor rate variance for March is: A) $4,578 unfavorable. B) $1,470 unfavorable. C) $4,578 favorable. D) $1,470 favorable. QUESTIONS 28 THROUGH 33 ARE BASED ON THE FOLLOWING INFORMATION: Cox Engineering performs cement core tests in its laboratory. The following standards have been set for each core test performed: 31. The labor efficiency variance...
**Please use numbers given** Please answer the blank boxes in (a) and (b) - thank you!!...
**Please use numbers given** Please answer the blank boxes in
(a) and (b) - thank you!! :)
Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (800 pounds) has the following standards: Whole tomatoes Vinegar Corn syrup Standard Quantity 1,300 lbs. 70 gal. 6 gal. Standard Price $0.36 per Ib. $ 2.20 per gal. $ 8.00 per gal. $ 2.00 per Ib. Salt 28 lbs. The actual materials...
Can someone please explain the blank I keep getting it incorrect Huron Company produces a commercial cleaning compou...
Can someone please explain the blank I keep getting it
incorrect
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 6.00 pounds 0.40 hours Standard Price or Rate $3.00 per pound $9.00 per hour Standard Cost $18.00 $ 3.60 Direct materials Direct labor During the most recent month, the following activity was recorded: a. Eleven thousand six hundred pounds of...
Direct Materials Variances Bellingham Company produces a product that requires 11 standard pounds per unit. The...
Direct Materials Variances Bellingham Company produces a product that requires 11 standard pounds per unit. The standard price is $8.5 per pound. If 5,800 units required 65,100 pounds, which were purchased at $8.16 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. a. Direct materials price variance $ 22,134...
Bellingham Company produces a product that requires 12 standard pounds per unit. The standard price is...
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...
Summerlin Company budgeted 4,100 pounds of material costing $6.00 per pound to produce 2,000 units. The...
Summerlin Company budgeted 4,100 pounds of material costing $6.00 per pound to produce 2,000 units. The company actually used 4,600 pounds that cost $6.10 per pound to produce 2,000 units. What is the direct materials quantity variance? Multiple Choice 0 $3,050 unfavorable. 0 $460 unfavorable. 0 $3,460 unfavorable. 0 $3,000 unfavorable. 0 $410 unfavorable. Summerlin Company budgeted 4,100 pounds of material costing $6.00 per pound to produce 2,000 units. The company actually used 4,600 pounds that cost $6.10 per pound...
please know that an incorrect answer from you will result in a
downvote, negative feedback, and a tweet to customer service. The
correct answer will receive an upvote and positive feedback
immediately. Thank you.
Favorable or unfavorable?
BULJLIUM10.JPURILJ) You have this data for a product made by ToolTime Company. Direct Materials standards are Quantity standard - 1.5 pounds Price standard - $4 per pound 2,000 units were produced in April. During April, the company actually purchased and used 3,100 pounds...
please know that an incorrect answer from you will result in a
downvote, negative feedback, and a tweet to customer service. The
correct answer will receive an upvote and positive feedback
immediately. Thank you.
Favorable or unfavorable?
You have this data for a product made by Shows Company. Direct Labor standards are Quantity standard - 2 hours Price standard - $14 per hour 1,500 units were produced in September. During September, the company actually used 3,100 hours of direct labor...
Please understand that an incorrect answer from you will trigger
negative feedback and a downvote from me.
Witter Company had the following information: Selling price per unit $240 Variable costs per unit Manufacturing $120 Selling and administrative $24 Fixed costs per month Manufacturing $160,000 Selling and administrative $80,000 What is the flexible budget net income for 15,000 units? $3,600,000 $1,440,000 $3,240,000 $1,200,000
I know you can only answer the first four
but if you could include the formulas for the other 2 I would
appreciate it. Thanks
30. The labor rate variance for March is: A) $4,578 unfavorable. B) $1,470 unfavorable. C) $4,578 favorable. D) $1,470 favorable. QUESTIONS 28 THROUGH 33 ARE BASED ON THE FOLLOWING INFORMATION: Cox Engineering performs cement core tests in its laboratory. The following standards have been set for each core test performed: 31. The labor efficiency variance...
**Please use numbers given** Please answer the blank boxes in
(a) and (b) - thank you!! :)
Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (800 pounds) has the following standards: Whole tomatoes Vinegar Corn syrup Standard Quantity 1,300 lbs. 70 gal. 6 gal. Standard Price $0.36 per Ib. $ 2.20 per gal. $ 8.00 per gal. $ 2.00 per Ib. Salt 28 lbs. The actual materials...
Can someone please explain the blank I keep getting it
incorrect
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 6.00 pounds 0.40 hours Standard Price or Rate $3.00 per pound $9.00 per hour Standard Cost $18.00 $ 3.60 Direct materials Direct labor During the most recent month, the following activity was recorded: a. Eleven thousand six hundred pounds of...
Direct Materials Variances Bellingham Company produces a product that requires 11 standard pounds per unit. The standard price is $8.5 per pound. If 5,800 units required 65,100 pounds, which were purchased at $8.16 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. a. Direct materials price variance $ 22,134...
Summerlin Company budgeted 4,100 pounds of material costing $6.00 per pound to produce 2,000 units. The company actually used 4,600 pounds that cost $6.10 per pound to produce 2,000 units. What is the direct materials quantity variance? Multiple Choice 0 $3,050 unfavorable. 0 $460 unfavorable. 0 $3,460 unfavorable. 0 $3,000 unfavorable. 0 $410 unfavorable. Summerlin Company budgeted 4,100 pounds of material costing $6.00 per pound to produce 2,000 units. The company actually used 4,600 pounds that cost $6.10 per pound...
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