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QUESTION 25 Copy of The following information about last month's production is found below Units Produced...
QUESTION 25 The following information about last month's production is found below Units Produced 4,078 Direct...
QUESTION 25 The following information about last month's production is found below Units Produced 4,078 Direct Materials Standards per unit 2.5 pounds at 8.4 per pound Direct Materials purchased and used 10,264 pounds for $101,369 What is the amount in dollars of the direct materials price variance (do not include favorable or unfavorable)?
Use this information to answer the question that follow. The following data relate to direct materials...
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...
3) The following information is available for Maher Manufacturing Company. - Direct materials price standard is...
3) The following information is available for Maher Manufacturing Company. - Direct materials price standard is $3.25 per pound. - Direct materials quantity standard is six pounds per finished unit. - Budgeted production is 25,000 finished units. - 175,000 pounds of direct materials were purchased for $525,000. - 175,000 pounds of direct materials were used in production. - 25,600 finished units of product were produced. What is the direct materials quantity variance? A) $21,400 Favorable C) $69,550 Favorable B) $69,550...
\ QUESTION 6 The following information describes a company's usage of direct labor in a recent...
\ QUESTION 6 The following information describes a company's usage of direct labor in a recent period: Actual direct labor hours used: 34,000 Actual rate per hour: $23 Standard rate per hour: $14.75 Standard hours per units produced: 30,000 How much is the direct labor efficiency variance? a. $59,000 (Favorable) b. $92,000 (Unfavorable) c. $92,000 (Favorable) d. $59,000 (Unfavorable) 2.5 points QUESTION 7 Victoria Corp. manufactures quality vases. Budgeted production data for the vases are as follows: January budgeted...
The Porch Cushion Company manufactures foam cushions. The number of cushions to be produced in the...
The Porch Cushion Company manufactures foam cushions. The number of cushions to be produced in the upcoming three months follows: Number of foam cushions to be produced in July 113,000 Number of foam cushions to be produced in August 19,000 Number of foam cushions to be produced in September 6,000 Each cushion requires 44 pounds of the foam used as stuffing. The company has a policy that the ending inventory of foam each month must be equal to 15% of...
Use the following information to answer the next four questions For each unit produced, a company...
Use the following information to answer the next four questions For each unit produced, a company expects to use 4.5 pounds of material at a cost of $3.25 per pound. It also expects each unit to require 1.75 hours of direct labor to complete, and it expects the wage rate to be $13 per hour. During the month, the company purchased 35,000 pounds of material for $105.000, and used all 35,000 pounds of material to produce 8,000 units. The company...
Use the following information to answer the next four questions For each unit produced, a company...
Use the following information to answer the next four questions For each unit produced, a company expects to use 4.5 pounds of material at a cost of $3.25 per pound. It also expects each unit to require 1.75 hours of direct labor to complete, and it expects the wage rate to be $13 per hour. During the month, the company purchased 35,000 pounds of material for $105.000, and used all 35,000 pounds of material to produce 8,000 units. The company...
The following information describes production activities of Mercer Manufacturing for the year. Actual direct materials used...
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...
The following information desaribes production activities of Mercer Manufacturing for the year: Actual direct materials Actual...
The following information desaribes production activities of Mercer Manufacturing for the year: Actual direct materials Actual direct labor used Actual units produced 29,000 lbs. at S5.10 per lb. 8,100 hours for a total of $164,430 48,000 Budgeted standards for each unit produced are 0.50 pounds of direct material at S5.05 per pound and 10 minutes of direct labor at S22.00 per hour (1) Compute the direct materials price and quantity variances. (Do not round intermediate calculations.) Actual Cost Standard Cost...
tem. In 2020, the company produced 27,900 units. Each unit took several pounds of direct materials ndar...
tem. In 2020, the company produced 27,900 units. Each unit took several pounds of direct materials ndard hourly rate of $13.00. Normal capacity was 49,700 direct labor hours. During the year, 1.30.300 pounds and 1.6 standard hours of direct labor at a purchased at $0.93 per pound. All materials purchased were used during the year What was the standard cost per unit of product? (Round answer to 2 decimal places, e-g. 2.75. $ Standard cost per unit If the 2.75.)...
QUESTION 25 The following information about last month's production is found below Units Produced 4,078 Direct Materials Standards per unit 2.5 pounds at 8.4 per pound Direct Materials purchased and used 10,264 pounds for $101,369 What is the amount in dollars of the direct materials price variance (do not include favorable or unfavorable)?
3) The following information is available for Maher Manufacturing Company. - Direct materials price standard is $3.25 per pound. - Direct materials quantity standard is six pounds per finished unit. - Budgeted production is 25,000 finished units. - 175,000 pounds of direct materials were purchased for $525,000. - 175,000 pounds of direct materials were used in production. - 25,600 finished units of product were produced. What is the direct materials quantity variance? A) $21,400 Favorable C) $69,550 Favorable B) $69,550...
Use the following information to answer the next four questions For each unit produced, a company expects to use 4.5 pounds of material at a cost of $3.25 per pound. It also expects each unit to require 1.75 hours of direct labor to complete, and it expects the wage rate to be $13 per hour. During the month, the company purchased 35,000 pounds of material for $105.000, and used all 35,000 pounds of material to produce 8,000 units. The company...
Use the following information to answer the next four questions For each unit produced, a company expects to use 4.5 pounds of material at a cost of $3.25 per pound. It also expects each unit to require 1.75 hours of direct labor to complete, and it expects the wage rate to be $13 per hour. During the month, the company purchased 35,000 pounds of material for $105.000, and used all 35,000 pounds of material to produce 8,000 units. The company...
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...
The following information desaribes production activities of Mercer Manufacturing for the year: Actual direct materials Actual direct labor used Actual units produced 29,000 lbs. at S5.10 per lb. 8,100 hours for a total of $164,430 48,000 Budgeted standards for each unit produced are 0.50 pounds of direct material at S5.05 per pound and 10 minutes of direct labor at S22.00 per hour (1) Compute the direct materials price and quantity variances. (Do not round intermediate calculations.) Actual Cost Standard Cost...
tem. In 2020, the company produced 27,900 units. Each unit took several pounds of direct materials ndard hourly rate of $13.00. Normal capacity was 49,700 direct labor hours. During the year, 1.30.300 pounds and 1.6 standard hours of direct labor at a purchased at $0.93 per pound. All materials purchased were used during the year What was the standard cost per unit of product? (Round answer to 2 decimal places, e-g. 2.75. $ Standard cost per unit If the 2.75.)...
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