Answer to Question 21:
Direct material price variance = Actual materials used * (Actual
price per unit - Standard price per unit)
Direct material price variance = 403,750 * ($2.20 - $2.00)
Direct material price variance = $80,750 Unfavorable
Answer to Question 22:
Standard labor hours allowed = Actual quantity * Standard labor
hours per unit
Standard labor hours allowed = 8,000 * 3
Standard labor hours allowed = 24,000
Direct labor efficiency variance = Standard rate per hour *
(Actual labor hours worked - Standard labor hours allowed)
Direct labor efficiency variance = $11.00 * (22,000 - 24,000)
Direct labor efficiency variance = $22,000 Favorable
QUESTION 21 A company provided the following direct materials cost information. Compute the direct materials price...
16- 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 hours at a total labor cost of $269,500. What is the direct labor rate variance? Multiple Choice $27,500 unfavorable. $22,000 favorable. $16,000 unfavorable. $16,000 favorable. $6,000 unfavorable. 20- Summerlin Company budgeted 4,000 pounds of material costing $5.00 per pound to produce 2,000 units. The company actually used 4,500 pounds that cost $5.10...
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...
MC Qu. 48 A company provided the following... A company provided the following direct materials cost information. Compute the direct materials quantity variance. $2.00/unit) $810,000 Standard costs assigned: Direct materials standard cost (405,000 units Actual costs: Direct Materials costs incurred (403,750 units $2.20/unit) $888,250 Multiple Choice $78,250 Favorable O O $2,750 Unfavorable O O $2750 Favorable O O $2.500 Favorable O
A company provided the following direct materials cost information. Compute the direct materials price variance. Standard costs assigned: Direct materials standard cost (410,000 units @ $3.90/unit) $ 1,599,000 Actual costs: Direct Materials costs incurred (409,250 units @ $4.00/unit) $ 1,637,000 $1,599,000 Favorable. $1,599,000 Unfavorable. $40,925 Unfavorable. $40,925 Favorable. $41,000 Favorable.
A company provided the following direct materials cost information. Compute the direct materials price variance. Standard costs assigned: Direct materials standard cost (419,000 units @ $3.00/unit) $ 1,257,000 Actual costs: Direct Materials costs incurred (416,000 units @ $3.20/unit) $ 1,331,200 Multiple Choice $1,257,000 Favorable. $1,257,000 Unfavorable. $83,200 Unfavorable. $83,200 Favorable. $83,800 Favorable.
A company provided the following direct materials cost information. Compute the direct materials price variance. Standard costs assigned: Direct materials standard cost (406,000 units @ $2.10/unit) $ 852,600 Actual costs: Direct Materials costs incurred (404,850 units @ $2.30/unit) $ 931,155 Multiple Choice $852,600 Favorable. $852,600 Unfavorable. $80,970 Unfavorable. $80,970 Favorable. $81,200 Favorable.
A company provided the following direct materials cost information. Compute the direct materials price variance. $1,526,400 Standard costs assigned: Direct materials standard cost (424,000 units @ $3.60/unit) Actual costs: Direct materials costs incurred (421,500 units @ $3.70/unit) $1,559,550 Ο $1,526,400 Favorable. Ο $1,526,400 Unfovorable. Ο Ο $42.150 Unfavorable. Ο SA2,150 Favorable, Ο $42,400 Favorable.
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...
A company provided the following direct materials cost information. Compute the total direct materials cost variance. Standard costs assigned: Direct materials standard cost (419,000 units @ $4.00 / unit) $ 1,676,000 Actual costs: Direct Materials costs incurred (417,750 units @ $4.20 / unit) $ 1,754,550 Multiple Choice $78,550 Unfavorable. $78,550 Favorable. $5,000 Favorable. $83,550 Unfavorable. $83,550 Favorable.
Based on predicted production of 12,000 units, a company anticipates $150,000 of fixed costs and $123,000 of variable costs. The flexible budget amounts of foed and variable costs for 10,000 units are: О $125,000 fixed and $102,500 variable. О $125,000 fixed and $123,000 variable. О $102.500 fixed and $150,000 variable. О $150,000 fixed and $123,000 variable. О S150,000 fixed and $102,500 variable. Preu A company provided the following direct materials cost information. Compute the total direct materials cost variance. $810,000...