Homework Answers
(1)
OPTION: = $32400 F
EXPLANATION:
Material price variance = actual quantity purchased x (standard price - actual price)
= 36000 x ($6.20 - $5.30)
= $32400 Favorable
(2)
OPTION: $17400 U
EXPLANATION:
Material price variance = actual quantity purchased x (standard price - actual price)
= 29000 x ($2.50 - $3.10)
= $17400 Unfavorable
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$ 8.40 37.50 Cost standards for one unit of product no. 077: Direct material 3 pounds at $2.80 per pound Direct labor 5 hours at $7.50 per hour Actual results: Units produced 8,200 units Direct material purchased 27, 200 pounds at $3.00 Direct material used 24,300 pounds at $3.00 Direct labor 41,300 hours at $7.30 8 04:25:44 $ 81,600 72,900 301,490 Print Assume that the company computes variances at the earliest point in time. The direct-labor efficiency variance is: Multiple...
The following data relate to product no. 33 of Volusia Corporation: 34 Direct labor standard: 5 hours at $14 per hour Direct labor used in production: 43,000 hours at a cost of $610,600 Manufacturing activity: 8,400 units completed 8 04:26:39 The direct-labor efficiency variance is: Print Multiple Choice Ο $14.000F. Ο $14,00ου. Ο $14.20ΟΕ. Ο $14,20ου. Ο None of the answers is correct. 35 $ 7.50 36.00 8 04:26:24 Cost standards for one unit of product no. 077: Direct material...
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