Homework Answers
| Actual Price (AP) | = | $ 11400 / 2000 | |||
| = | $ 5.70 | ||||
| Direct Material Price Variance | = | (AP - SP) x AQ | |||
| = | ($ 5.7 - $ 6) x 2000 | ||||
| = | $ 600.00 | (Favorable) | |||
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112 113 Problem 5 (6 points each = 12 points). Direct material Price Variance is (AQ...
Given the following information regarding direct materials: ---Actual quantity purchased = 75,000 pounds -Actual quantity used...
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TASK 2 - PC 4.2 Calculate material mix and yield variances Using the following equations for...
TASK 2 - PC 4.2 Calculate material mix and yield variances Using the following equations for Material or Quantity Variance Model. Note: SP – Standard Price; SQ – Standard Quantity; AQ – Actual Quantity; AP – Actual Price SP (AQ – SQ) and AQ (AP – SP) calculate the following variances using the question below: Kaltham LLC manufactures zips for the fabric industry in the UAE, she has the following direct material standard to manufacture one zip. 1.5 pounds per...
The direct material price variance during June is ___?
Heavy Products, Inc. developed standard costs for direct material and direct labor. In 2017, AII estimated the following standard costs for one of their major products, the 10−gallon plastic container.Budgeted quantity Budgeted priceDirect materials0.7 pounds$50 per poundDirect labor0.05 hours$25 per hourDuring June, Heavy Products produced and sold 23,000 containers using 20,000 pounds of direct materials at an average cost per pound of $53 and 16,100 direct manufacturing labor-hours at an average wage of $25.50 per hour.The direct material price variance...
Steel Plastic Product Names Direct materials information Standard pounds per unit Standard Price (SP) per pound...
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Multiple Choice Question 115 The per-unit standards for direct materials are 2 pounds at $5 per...
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Post-Lecture Question 02 x Materials Price Variance = (Actual Quantity x Actual Price) - (Actual Quantity...
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The following direct material information is available for Company A's most recent month of operations:
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what is the standard direct material price per pound for the plastic in the dolls Tommy's...
what is the standard direct material price per pound for the
plastic in the dolls
Tommy's Toys produces two types of toys: trains and dolls. Tommy's uses stainless steel to manufacture the trains and plastic to manufacture the dolls. Information regarding the usage of steel and plastic for the past year follows: Product Names Steel Plastic pri Direct materials information ma Standard pounds per unit 3 lb. 1.5 lb. $1 Standard Price (SP) per pound $3.00 Actual Quantity (AQ) used...
Can you please find the correct input for the materials quantity variance. The second picture explains...
Can you please find the correct input for the materials quantity
variance. The second picture explains how to find it.
Disclaimer: The answer is neither 6,555 or 10,005. Have already
tried those and it is wrong.
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.10 pounds 0.50 hours Standard Price or Rate $ 2.50 per pound $14.50 per hour...
can someone help me with 13 please d26 50 12 Unlavorable materials price and quantity variances...
can
someone help me with 13 please
d26 50 12 Unlavorable materials price and quantity variances are generally the responsibility of the Price Purchasing department Purchasing department Production department Production Department Quantity Purchasing Department Production Department Production Department Purchasing Department c. 13. Scorpion Production Company planned to use I yard of plastic per unit budgeted at $81 a yard. However the plastic actually cost $80 per yard. The company actually made 3,900 units, although it had planned to make only...
Steel Plastic Product Names Direct materials information Standard pounds per unit Standard Price (SP) per pound Actual Quantity (AQ) used per unit Actual Price (AP) paid for material Actual Quantity Purchased (AQP) and used Price variance Quantity variance Flexible budget variance Number of units produced 2 lb. $3.25 1.5 lbs. $1.50 2,000 lbs. ? $650 U ? 400 2.5 lb. ? 3.5 lbs. $2.00 1,100 lbs. $1,232 F ? $726 F 575 What is the direct material quantity variance for...
Multiple Choice Question 115 The per-unit standards for direct materials are 2 pounds at $5 per pound. Last month, 9800 pounds of direct materials that actually cost $47200 were used to produce 5400 units of product. The direct materials quantity variance for last month was $6800 unfavorable. $5000 favorable. $2700 favorable. $5000 unfavorable. NOISEA H BACK NE Multiple Choice Question 116 The per-unit standards for direct labor are 1.5 direct labor hours at $15 per hour. If in producing 3000...
Post-Lecture Question 02 x Materials Price Variance = (Actual Quantity x Actual Price) - (Actual Quantity X Standard Price) or $3600 (900 x $4.0) - $4500 (900 x $5.0) = $900 favorable. A company developed the following per unit standards for its products: 2.50 pounds of direct materials at $5.0 per pound. Last month, 900 lbs of direct materials were purchased for $3600. The direct materials price variance for last month was X O $900 unfavorable. $3600 favorable. O $900...
what is the standard direct material price per pound for the
plastic in the dolls
Tommy's Toys produces two types of toys: trains and dolls. Tommy's uses stainless steel to manufacture the trains and plastic to manufacture the dolls. Information regarding the usage of steel and plastic for the past year follows: Product Names Steel Plastic pri Direct materials information ma Standard pounds per unit 3 lb. 1.5 lb. $1 Standard Price (SP) per pound $3.00 Actual Quantity (AQ) used...
Can you please find the correct input for the materials quantity
variance. The second picture explains how to find it.
Disclaimer: The answer is neither 6,555 or 10,005. Have already
tried those and it is wrong.
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.10 pounds 0.50 hours Standard Price or Rate $ 2.50 per pound $14.50 per hour...
can
someone help me with 13 please
d26 50 12 Unlavorable materials price and quantity variances are generally the responsibility of the Price Purchasing department Purchasing department Production department Production Department Quantity Purchasing Department Production Department Production Department Purchasing Department c. 13. Scorpion Production Company planned to use I yard of plastic per unit budgeted at $81 a yard. However the plastic actually cost $80 per yard. The company actually made 3,900 units, although it had planned to make only...
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