Myers Corporation has the following data related to direct materials costs for November: actual costs for...
Homework Answers
b. $5,628 favorable
Explanation:
Direct Materials Quantity Variance = (Actual Price – Standard Price) × Actual Quantity
= ($5.20 - $6.40)* 4,690 pounds
= $1.20*4,690 pounds
= $5,628 favorable
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Myers Corporation has the following data related to direct
materials costs for November: actual costs for...
Myers Corporation has the following data related to direct materials costs for November: actual costs for...
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,670 pounds of material, $5.00; and standard costs for 4,460 pounds of material at $6.40 per pound. What is the direct materials price variance? Oa. $1,344 unfavorable ob. $6,538 unfavorable OC. $6,538 favorable Od. $1,344 favorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for...
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,630 pounds of material, $5.30; and standard costs for 4,410 pounds of material at $6.40 per pound. What is the direct materials price variance? Oa. $5,093 unfavorable Ob. $1,408 favorable c. $1,408 unfavorable Od. $5,093 favorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for...
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,660 pounds of material, $5.20; and standard costs for 4,470 pounds of material at $6.00 per pound. What is the direct materials price variance? a.$1,140 favorable b.$3,728 favorable c.$3,728 unfavorable d.$1,140 unfavorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for...
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,650 pounds of material, $5.10; and standard costs for 4,410 pounds of material at $6.10 per pound. What is the direct materials price variance? Oa. $4,650 favorable b. $4,650 unfavorable c. $1,464 favorable d. $1,464 unfavorable
Use this information to answer the question that follow. The following data relate to direct materials...
Use this information to answer the question that follow. The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.98; actual, $2.03 Standard yards per unit: standard, 4.62 yards; actual, 5.06 yards Units of production: 9,100 Calculate the direct materials quantity variance. a.$8,128.12 favorable b.$7,927.92 unfavorable c.$7,927.92 favorable d.$8,128.12 unfavorable Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,600 pounds of material, $5.00 and standard costs for...
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:
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
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...
help Suver Corporation has a standard costing system. The following data are available for June: Actual...
help
Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials purchased 80,000 pounds Standard price of direct materials $9.00 per pound Material price variance $8,000 Unfavorable Material quantity variance $6,000 Favorable The actual price per pound of direct materials purchased in June was: .8.88 per pound 9.00 per pound 9.10 per pound The following materials standards have been established for a particular product: Standard quantity per unit of output 5.5...
Information concerning Johnston Co.'s direct materials costs is as follows: Standard price per pound Actual quantity...
Information concerning Johnston Co.'s direct materials costs is as follows: Standard price per pound Actual quantity purchased Actual quantity used in production Units of product manufactured Materials purchase-price variance-favorable Budget data for the period: Units to manufacture Units of direct materials $ 7.15 3,100 pounds 3,000 pounds 770 $ 925 1,070 4,280 pounds The direct materials usage variance for the period, rounded to two decimal places, is: Ο $437.00 favorable. Ο $572.00 unfavorable. Ο $782.00 favorable. Ο $572.00 favorable. Ο...
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,670 pounds of material, $5.00; and standard costs for 4,460 pounds of material at $6.40 per pound. What is the direct materials price variance? Oa. $1,344 unfavorable ob. $6,538 unfavorable OC. $6,538 favorable Od. $1,344 favorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,630 pounds of material, $5.30; and standard costs for 4,410 pounds of material at $6.40 per pound. What is the direct materials price variance? Oa. $5,093 unfavorable Ob. $1,408 favorable c. $1,408 unfavorable Od. $5,093 favorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,650 pounds of material, $5.10; and standard costs for 4,410 pounds of material at $6.10 per pound. What is the direct materials price variance? Oa. $4,650 favorable b. $4,650 unfavorable c. $1,464 favorable d. $1,464 unfavorable
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:
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
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...
help
Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials purchased 80,000 pounds Standard price of direct materials $9.00 per pound Material price variance $8,000 Unfavorable Material quantity variance $6,000 Favorable The actual price per pound of direct materials purchased in June was: .8.88 per pound 9.00 per pound 9.10 per pound The following materials standards have been established for a particular product: Standard quantity per unit of output 5.5...
Information concerning Johnston Co.'s direct materials costs is as follows: Standard price per pound Actual quantity purchased Actual quantity used in production Units of product manufactured Materials purchase-price variance-favorable Budget data for the period: Units to manufacture Units of direct materials $ 7.15 3,100 pounds 3,000 pounds 770 $ 925 1,070 4,280 pounds The direct materials usage variance for the period, rounded to two decimal places, is: Ο $437.00 favorable. Ο $572.00 unfavorable. Ο $782.00 favorable. Ο $572.00 favorable. Ο...
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