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Suver Corporation has a standard costing system. The following data are available for June: Actual...
Suver Corporation has a standard costing system. The following data are available for June Actual quantity...
Suver Corporation has a standard costing system. The following data are available for June Actual quantity of direct materials purchased Standard price of direct materials Material price variance Material quantity variance 70,000 pounds $ 8.00 per pound $ 3,500 Unfavorable $ 2,500 Favorable The actual price per pound of direct materials purchased in June was:
Suver Corporation has a standard costing system. The following data are available for June: Actual quantity...
Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials purchased Standard price of direct materials Material price variance Material quantity variance 70,000 pounds $ 8.00 per pound $ 7,000 Unfavorable $ 7,500 Favorable The actual price per pound of direct materials purchased in June was: Multiple Choice O $8.00 per pound O $7.88 per pound The actual price per pound of direct materials purchased in June was: Multiple Choice $8.00...
Ron Swanson Corporation has a standard costing system. The following data are available for June: Actual...
Ron Swanson Corporation has a standard costing system. The following data are available for June: Actual Quantity of Direct Materials Purchased: 35,000 pounds $4 per pound $7,000 Unfavorable $4,200 Favorable Standard Price of Direct Materials: Material Price Variance Material Quantity Variance The actual price per pound of direct materials purchased in June is: $4.08 $3.92 $4.20 $3.80
Sarah Lee Corporation has a standard costing system. The following data are available for June: 23,000pounds...
Sarah Lee Corporation has a standard costing system. The following data are available for June: 23,000pounds Actual quantity of direct materials purchased Standard price of direct materials Material price variance Material quant variance 6.30per pound $ 2,400Unfavorable 2,300Favorable The actual price per pound of direct materials purchased in June was (rounded):
The following standards have been established for a raw material used to make product 084 Standard...
The following standards have been established for a raw material used to make product 084 Standard quantity of the material per unit of output Standard price of the material 8.5 meters $19.70 per meter The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output 4,800 meters ş 98,880 4,500 meters 640 units of product 084 The direct materials purchases variance is computed when the materials are...
Giant Corporation uses standard costing. The following data are available for May: Actual costs of direct...
Giant Corporation uses standard costing. The following data are available for May: Actual costs of direct materials purchased $10,500 Actual price of direct materials $2.50 per kilogram Materials price variance $2,100 Favorable Materials spending variance $1,500 Favorable The quantity of materials purchased equals the quantity used in production. The standard quantity of material allowed for May production is
Ripley Corporation has supplied the following information obtained from its standard cost system in June. Standard...
Ripley Corporation has supplied the following information obtained from its standard cost system in June. Standard price of direct materials $ 6 per pound Actual price of direct materials $ 5 per pound Standard direct labor rate $ 9 per hour Actual direct labor hours in June 9,500 hours The following journal entries were made during June with respect to Ripley’s standard cost system. General Journal Debit Credit Work in Process Inventory (at standard cost) $ 48,000 Materials Quantity Variance...
The following materials standards have been established for a particular product: Standard quantity per unit of...
The following materials standards have been established for a particular product: Standard quantity per unit of output 6.0 meters Standard price $ 18.30 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased 9,700 meters Actual cost of materials purchased $ 185,270 Actual materials used in production 9,200 meters Actual output 1,510 units What is the materials price variance for the month? Multiple Choice $2,674 U $10,200 U $7,760 U $15,950 U...
The following standards have been established for a raw material used to make product N04: Standard...
The following standards have been established for a raw material used to make product N04: Standard quantity of the material per unit of output 2.7 pounds Standard price of the material ........ $15.50 per pound The following data pertain to a recent month's operations: Actual material purchased.... 5,200 pounds Actual cost of material purchased......... $82,680 Actual material used in production....... 4,600 pounds Actual output.... 1,760 units of product N04 a. What is the materials price variance for the month? b....
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @ $9 per lb.) 56,500 lbs. @ $9.10 per lb. Direct labor (3 hrs. @ $16 per hr.) 23,700 hrs. @ $16.50 per hr. Overhead (3 hrs. @ $11 per hr.) $ 270,100 Units manufactured 8,000 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ = Actual Quantity SQ = Standard Quantity AP...
Suver Corporation has a standard costing system. The following data are available for June Actual quantity of direct materials purchased Standard price of direct materials Material price variance Material quantity variance 70,000 pounds $ 8.00 per pound $ 3,500 Unfavorable $ 2,500 Favorable The actual price per pound of direct materials purchased in June was:
Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials purchased Standard price of direct materials Material price variance Material quantity variance 70,000 pounds $ 8.00 per pound $ 7,000 Unfavorable $ 7,500 Favorable The actual price per pound of direct materials purchased in June was: Multiple Choice O $8.00 per pound O $7.88 per pound The actual price per pound of direct materials purchased in June was: Multiple Choice $8.00...
Ron Swanson Corporation has a standard costing system. The following data are available for June: Actual Quantity of Direct Materials Purchased: 35,000 pounds $4 per pound $7,000 Unfavorable $4,200 Favorable Standard Price of Direct Materials: Material Price Variance Material Quantity Variance The actual price per pound of direct materials purchased in June is: $4.08 $3.92 $4.20 $3.80
Sarah Lee Corporation has a standard costing system. The following data are available for June: 23,000pounds Actual quantity of direct materials purchased Standard price of direct materials Material price variance Material quant variance 6.30per pound $ 2,400Unfavorable 2,300Favorable The actual price per pound of direct materials purchased in June was (rounded):
The following standards have been established for a raw material used to make product 084 Standard quantity of the material per unit of output Standard price of the material 8.5 meters $19.70 per meter The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output 4,800 meters ş 98,880 4,500 meters 640 units of product 084 The direct materials purchases variance is computed when the materials are...
The following standards have been established for a raw material used to make product N04: Standard quantity of the material per unit of output 2.7 pounds Standard price of the material ........ $15.50 per pound The following data pertain to a recent month's operations: Actual material purchased.... 5,200 pounds Actual cost of material purchased......... $82,680 Actual material used in production....... 4,600 pounds Actual output.... 1,760 units of product N04 a. What is the materials price variance for the month? b....
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