Homework Answers
Materials Price Variance = (SP-AP) *AQ
= (4.10-18640/4660)*4660
= 466 F
.
Materials Quantity Variance = (SQ-AQ) *SP
= (2190*2 - 4660)*4.10
= 1148 U
.
Materials spending variance = 466F + 1148U
= 682 U
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Acoma, Inc., has determined a standard direct materials cost per unit of $8.20 (2 feet x...
Acoma, Inc., has determined a standard direct materials cost per unit of $6.60 (2 feet <...
Acoma, Inc., has determined a standard direct materials cost per unit of $6.60 (2 feet < $3.30 per foot). Last month, Acoma purchased and used 4,410 feet of direct materials for which it paid $14,112. The company produced and sold 2,090 units during the month. Calculate the direct materials price, quantity, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations...
Acoma, Inc., has determined a standard direct materials cost per unit of $6.20 (2 feet x...
Acoma, Inc., has determined a standard direct materials cost per unit of $6.20 (2 feet x $3.10 per foot). Last month, Acoma purchased and used 4,280 feet of direct materials for which it paid $12,840. The company produced and sold 2,000 units during the month. Calculate the direct materials price, quantity, and spending variances. (Round your intermediate calculations to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Direct Materials Price Variance...
Acoma, Inc, has determined a standard direct materials cost per unit of $7.00 (2 feet * $3.50 per foot). Last month...
Acoma, Inc, has determined a standard direct materials cost per unit of $7.00 (2 feet * $3.50 per foot). Last month, Acoma purchased and used 4,450 feet of direct materials for which it paid $15,130. The company produced and sold 2,030 units during the month Calculate the direct materials price, quantity, and spending variances. (Indicate the effect of each variance by selecting "F for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Round your intermediate calculations...
Knowledge Check 04 Calculate the direct materials spending variance when the direct materials price variance is...
Knowledge Check 04 Calculate the direct materials spending variance when the direct materials price variance is $5,500 favorable and the direct materials quantity variance is $660 unfavorable. $4,840 unfavorable $6,160 unfavorable $4,840 favorable $6,160 favorable M9-9 (Algo) Calculating Direct Materials Cost Variances (LO 9. 3] Acoma, Inc., has determined a standard direct materials cost per unit of $7.60 (2 feet * $3.80 per foot). Last month, Acoma purchased and used 4,520 feet of direct materials for which it paid $16,724....
Standard Cost per Unit Actual Cost per Unit $ 3.96 $ 4.20 12.60 Direct materials: Standard: 1.80 feet at $2.20 per foot...
Standard Cost per Unit Actual Cost per Unit $ 3.96 $ 4.20 12.60 Direct materials: Standard: 1.80 feet at $2.20 per foot Actual: 1.75 feet at $2.40 per foot Direct labor: Standard: 0.90 hours at $14.00 per hour Actual: 0.95 hours at $13.40 per hour Variable overhead: Standard: 0.90 hours at $5.00 per hour Actual: 0.95 hours at $4.60 per hour Total cost per unit Excess of actual cost over standard cost per unit 12.73 4.50 4.37 $ 21.30 $21.06...
Paradise Corp. has determined a standard labor cost per unit of $16 (0.50 hour × $32...
Paradise Corp. has determined a standard labor cost per unit of $16 (0.50 hour × $32 per hour). Last month, Paradise incurred 958 direct labor hours for which it paid $23,471. The company produced and sold 2,150 units during the month. Calculate the direct labor rate, efficiency, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations to 2 decimal places.)...
Reed Corp. has set the following standard direct materials and direct labor costs per unit for...
Reed Corp. has set the following standard direct materials and
direct labor costs per unit for the product it
manufactures.
Direct materials (16 lbs. @ $5 per lb.) $80
Direct labor (4 hrs. @ $15 per hr.) $60
During June the company incurred the following actual costs to
produce 9,000 units.
Direct materials (146,700 lbs. @ $4.75 per lb.) $696,825
Direct labor (40,300 hrs. @ $15.10 per hr.). $608,530
AH = Actual Hours
SH = Standard Hours
AR = Actual...
Willow Inc. has provided the following information: Standards: Direct materials Direct labor Variable overhead Fixed overhead...
Willow Inc. has provided the following information: Standards: Direct materials Direct labor Variable overhead Fixed overhead Total Per unit 10 lbs @ $2.90/lb $ 29.00 2 hours @ $17.50/hour 35.00 2 hours @ $11/hour 22.00 25.00 $111.00 Budgeted production = 7,300 units 75,050 lbs 14,100 actual hours Actual results Materials Direct labor Variable overhead Fixed overhead Units produced $216,015 $236,815 $ 161,570 $179,860 7,500 units a. Calculate the direct materials price variance. (Do not round your intermediate calculations. Indicate the...
Paradise Corp has determined a standard labor cost per unit of $25 (0.50 hour $50 per...
Paradise Corp has determined a standard labor cost per unit of $25 (0.50 hour $50 per hour). Last month, Paradise Incurred 976 direct labor hours for which it paid $26,108. The company produced and sold 2,600 units during the month Calculate the direct labor rate, efficiency, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable. u for unfavorable, and "None" for no effect (I.e., zero variance). Round your intermediate calculations to 2 decimal places.) Direct...
Cost per Cost per 8 9.12 29.00 Direct materials: standard: 1.90 feet at $4.80 per Foot...
Cost per Cost per 8 9.12 29.00 Direct materials: standard: 1.90 feet at $4.80 per Foot Actual 1.85 foot at 15.20 per foot Direct labor: standard: 1.45 hours at $20.00 per hour Actual 1.50 hours at $19.50 per hour Variable overhead: standard, 1.45 hourRat 10.00 per hour Actual 1.50 hours at $9.60 por hour Total cost per unit ENCORR of actual cost over standard cont per unit 29.25 14.50 14.40 $52.62 $53.27 The production superintendent was pleased when he saw...
Acoma, Inc., has determined a standard direct materials cost per unit of $6.60 (2 feet < $3.30 per foot). Last month, Acoma purchased and used 4,410 feet of direct materials for which it paid $14,112. The company produced and sold 2,090 units during the month. Calculate the direct materials price, quantity, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations...
Acoma, Inc., has determined a standard direct materials cost per unit of $6.20 (2 feet x $3.10 per foot). Last month, Acoma purchased and used 4,280 feet of direct materials for which it paid $12,840. The company produced and sold 2,000 units during the month. Calculate the direct materials price, quantity, and spending variances. (Round your intermediate calculations to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Direct Materials Price Variance...
Acoma, Inc, has determined a standard direct materials cost per unit of $7.00 (2 feet * $3.50 per foot). Last month, Acoma purchased and used 4,450 feet of direct materials for which it paid $15,130. The company produced and sold 2,030 units during the month Calculate the direct materials price, quantity, and spending variances. (Indicate the effect of each variance by selecting "F for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance). Round your intermediate calculations...
Knowledge Check 04 Calculate the direct materials spending variance when the direct materials price variance is $5,500 favorable and the direct materials quantity variance is $660 unfavorable. $4,840 unfavorable $6,160 unfavorable $4,840 favorable $6,160 favorable M9-9 (Algo) Calculating Direct Materials Cost Variances (LO 9. 3] Acoma, Inc., has determined a standard direct materials cost per unit of $7.60 (2 feet * $3.80 per foot). Last month, Acoma purchased and used 4,520 feet of direct materials for which it paid $16,724....
Standard Cost per Unit Actual Cost per Unit $ 3.96 $ 4.20 12.60 Direct materials: Standard: 1.80 feet at $2.20 per foot Actual: 1.75 feet at $2.40 per foot Direct labor: Standard: 0.90 hours at $14.00 per hour Actual: 0.95 hours at $13.40 per hour Variable overhead: Standard: 0.90 hours at $5.00 per hour Actual: 0.95 hours at $4.60 per hour Total cost per unit Excess of actual cost over standard cost per unit 12.73 4.50 4.37 $ 21.30 $21.06...
Reed Corp. has set the following standard direct materials and
direct labor costs per unit for the product it
manufactures.
Direct materials (16 lbs. @ $5 per lb.) $80
Direct labor (4 hrs. @ $15 per hr.) $60
During June the company incurred the following actual costs to
produce 9,000 units.
Direct materials (146,700 lbs. @ $4.75 per lb.) $696,825
Direct labor (40,300 hrs. @ $15.10 per hr.). $608,530
AH = Actual Hours
SH = Standard Hours
AR = Actual...
Willow Inc. has provided the following information: Standards: Direct materials Direct labor Variable overhead Fixed overhead Total Per unit 10 lbs @ $2.90/lb $ 29.00 2 hours @ $17.50/hour 35.00 2 hours @ $11/hour 22.00 25.00 $111.00 Budgeted production = 7,300 units 75,050 lbs 14,100 actual hours Actual results Materials Direct labor Variable overhead Fixed overhead Units produced $216,015 $236,815 $ 161,570 $179,860 7,500 units a. Calculate the direct materials price variance. (Do not round your intermediate calculations. Indicate the...
Paradise Corp has determined a standard labor cost per unit of $25 (0.50 hour $50 per hour). Last month, Paradise Incurred 976 direct labor hours for which it paid $26,108. The company produced and sold 2,600 units during the month Calculate the direct labor rate, efficiency, and spending variances. (Indicate the effect of each variance by selecting "F" for favorable. u for unfavorable, and "None" for no effect (I.e., zero variance). Round your intermediate calculations to 2 decimal places.) Direct...
Cost per Cost per 8 9.12 29.00 Direct materials: standard: 1.90 feet at $4.80 per Foot Actual 1.85 foot at 15.20 per foot Direct labor: standard: 1.45 hours at $20.00 per hour Actual 1.50 hours at $19.50 per hour Variable overhead: standard, 1.45 hourRat 10.00 per hour Actual 1.50 hours at $9.60 por hour Total cost per unit ENCORR of actual cost over standard cont per unit 29.25 14.50 14.40 $52.62 $53.27 The production superintendent was pleased when he saw...
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