Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: 7,100 lbs. Quantity of direct materials used Actual unit price of direct materials $3.80 per lb. 3,410 units Units of finished product manufactured 2 lbs Standard direct materials per unit of finished product Direct materials quantity variance-unfavorable $1,092 Direct materials price variance-favorable...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: Quantity of direct materials used 6,200 lbs. Actual unit price of direct materials $3.9 per lb. Units of finished product manufactured 1,490 units Standard direct materials per unit of finished product 4 lbs. Direct materials quantity variance—unfavorable $984 Direct materials price variance—favorable...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: Quantity of direct materials used 3,000 lbs. Actual unit price of direct materials $5.50 per lb. Units of finished product manufactured 1,400 units Standard direct materials per unit of finished product 2 lbs. Direct materials quantity variance—unfavorable $1,000 Direct materials price variance—unfavorable...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: Quantity of direct materials used 3,000 lbs. Actual unit price of direct materials Units of finished product manufactured Standard direct materials per unit of finished product Direct materials quantity variance-unfavorable $5.50 per lb. 1,400 units 2 lbs. $1,000 Direct materials price variance-unfavorable...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: Quantity of direct materials used 4,900 lbs. Actual unit price of direct materials $4.30 per lb. Units of finished product manufactured 2,350 units Standard direct materials per unit of finished product 2 lbs. Direct materials quantity variance—unfavorable $880 Direct materials price variance—favorable...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: Quantity of direct materials used 7,300 lbs. Actual unit price of direct materials $2.2 per lb. Units of finished product manufactured 1,755 units Standard direct materials per unit of finished product 4 lbs. Direct materials quantity variance—unfavorable $672 Direct materials price variance—favorable...
Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: Quantity of direct materials used 7,300 lbs. Actual unit price of direct materials $2.2 per lb. Units of finished product manufactured 1,755 units Standard direct materials per unit of finished product 4 lbs. Direct materials quantity variance—unfavorable $672 Direct materials price variance—favorable...
Steel Plastic Product Names Direct materials information Standard pounds per unit Standard Price (SP) per pound Actual Quantity (AQ) used per unit Actual Price (AP) paid for material Actual Quantity Purchased (AQP) and used Price variance Quantity variance Flexible budget variance Number of units produced 2 lb. $3.25 1.5 lbs. $1.50 2,000 lbs. ? $650 U ? 400 2.5 lb. ? 3.5 lbs. $2.00 1,100 lbs. $1,232 F ? $726 F 575 What is the direct material quantity variance for...
Standard Direct Materials Cost per Unit Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (1,110 bars) are as follows: Ingredient Price Cocoa Quantity 420 lbs. 120 lbs. 90 gal. $0.30 per Ib. $0.60 per Ib. Sugar Milk $1.50 per gal. Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent. per bar
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