Parallel Enterprises has collected the following data on one of its products. During the period the...

Question

Question

Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 u

Multiple Choice $47.300 unfavorable. Os24500 unfavorable $24,500 unfavorable. $22,800 favorable $22,800 unfavorable. $47.300

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Direct material price variance=

Actual cost- Standard cost

Actual cost=	351750
Standard cost=	153000*2.15
	328950

Direct material price variance=	22800	Unfavorable

Since actual cost is more than standard cost, therefore it is unfavorable


Answer is , 22800 unfavorable

I hope this satisfies the answer.

In case of doubt, please comment. Also, it would be great in case you give thumbs up.

I am ready to explain anything you want. Just comment. And please hit like.

In case you want to dislike, please comment before. I will try to solve it. There might be some mistakes due to a different approach.

Add a comment

Answer 2

Similar Homework Help Questions

arallel Enterprises has collected the following data on one of its products. During the period the...

arallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units. The direct materials price variance is: Direct materials standard (7 kg. @ $1.75/kg.) $12.25 per finished unit Actual cost of materials purchased $275,850 Actual direct materials purchased and used 145,000 kgs. rev: 04_16_2018_QC_CS-124628 Multiple Choice $30,400 unfavorable. $52,500 unfavorable. $52,500 favorable. $22,100 unfavorable. $22,100 favorable.
Parallel Enterprises has collected the following data on one of its products. During the period the...

Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units. The direct materials price variance is: Direct materials standard (7 kg. @ $1.70/kg.) $11.90 per finished unit Actual cost of materials purchased $266,800 Actual direct materials purchased and used 144,000 kgs.
The following company information is available. The direct materials quantity variance is: Direct materials used for...

The following company information is available. The direct materials quantity variance is: Direct materials used for prodution Standard quantity for units produced Standard cost per gallon of direct material Actual cost per gallon of direct material 35,000 gallons 33,400 gallons $11.00 $11.20 Multiple Choice $17600 unfavorable. $17200 favorable $24,600 unfavorable Multiple Choice $17,600 unfavorable. $17.200 favorable. $24,600 unfavorable. $24,600 favorable. $17,200 unfavorable Use the following data to find the direct labor rate variance if the company produced 3,500 units during...

Georgia, Inc. has collected the following data on one of its products. The direct materials quantity...

Georgia, Inc. has collected the following data on one of its products. The direct materials quantity variance is: Direct materials standard (2 lbs @ $1/lb) $2 per finished unit Total direct materials cost variance—unfavorable $20,750 Actual direct materials used 72,000 lbs. Actual finished units produced 24,000 units Multiple Choice $24,000 unfavorable. $20,750 unfavorable. $3,250 favorable. $20,750 favorable. $24,000 favorable.
Georgia, Inc. has collected the following data on one of its products. The direct materials quantity variance IS. Dir...

Georgia, Inc. has collected the following data on one of its products. The direct materials quantity variance IS. Direct materials standard (3 lbs $1/1b) Total direct materials cost variance-unfavorable $24,250 $3 per finished unit Actual direct materials used 108,000 lbs. 27,000 units Actual finished units produced Multiple Choice $24,250 unfavorable. $27,000 favorable. $2,750 favorable. $24,250 favorable. $27,000 unfavorable. A company has an overhead application rate of 128% of direct labor costs. How much overhead would be allocated to a job...
Fletcher Company collected the following data regarding production of one of its products. Compute the direct...

Fletcher Company collected the following data regarding production of one of its products. Compute the direct materials quantity variance. Direct materials standard (6 lbs. e $2/1b.) Actual direct materials used Actual finished units produced Actual cost of direct materials used 12 per finished unit 279,300 lbs. 46,000 units $556,110 Multiple Choice O $2,490 unfavorable. $4.10 unfavorable. $2,490 favorable. $6.600 unfavorable. $410 favorable.

3- Claremont Company sells refurbished copiers. During the month, the company sold 180 copiers at an...

3- Claremont Company sells refurbished copiers. During the month, the company sold 180 copiers at an average price of $3,000 each. The budget for the month was to sell 175 copiers at an average price of $3,200. The expected total sales for 180 copiers were: Multiple Choice $540,000. $576,000. $525,000. $560,000. $550,000. 9- A job was budgeted to require 3 hours of labor per unit at $11.00 per hour. The job consisted of 8,000 units and was completed in 22,000...
Oliver Enterprises has collected the following data for one of its products: Direct materials standard (8...

Oliver Enterprises has collected the following data for one of its products: Direct materials standard (8 pounds per unit @ $0.5ОЛЬ.) Direct materials flexible budget variance-unfavorable Actual Direct Materials Used (AQU) Actual finished goods produced $4.00 per finished good $14,000 31,000 pounds 20,000 units How much is the direct materials quantity variance? O A. $80,000 favorable O B. $80,000 unfavorable O C. $15,500 unfavorable O D. $64,500 favorable Redwood Corporation is considering two alternative investment proposals with the following data:...
How much is the direct materials quantity variance? Oliver Enterprises has collected the following data for...

How much is the direct materials quantity variance? Oliver Enterprises has collected the following data for one of its products: Direct materials standard (8 pounds per unit @ $0.60/lb.) Direct materials flexible budget variance - unfavorable Actual Direct Materials Used (AQU) Actual finished goods produced $4.80 per finished good $8,000 35,000 pounds 26,000 units O A. $21,000 unfavorable O B. $124,800 unfavorable OC. $103,800 favorable OD. $124,800 favorable

Georgia, Inc. has collected the following data on one of its products. The direct materials quantity...

Georgia, Inc. has collected the following data on one of its products. The direct materials quantity variance is: Direct materials standard (2 lbs @ $1/lb) $ 2 per finished unit Total direct materials cost variance—unfavorable $ 17,750 Actual direct materials used 60,000 lbs Actual finished units produced 20,000 units $17,750 unfavorable. $20,000 favorable. $17,750 favorable. $20,000 unfavorable. $2,250 favorable.

Parallel Enterprises has collected the following data on one of its products. During the period the...

Homework Answers