Question

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oncepts that were previously covered in class. You get three attempts and your highest score wi The Manchester Corporation manufactures wooden pictures frames. In order to better manage costs, the had previously developed the following standards for the manufacture of its product: Manchester Corporation . Each unit should have 3/4 of a pound of direct materials purchased at $12 per pound. . Each unit should be produced in 48 minutes at a direct labor cost of $16 per hour. The company had the following detailed retails: Actual production was 20,000 units using 14.600 pounds of direct materials at a total cost of $168,000 and required 11,000 direct labor hours at a total cost of $190,000. 2 pts D Question 1 What is the company's"quantity" variance related to direct materials? Use a positive number to indicate a favorable variance or a negative number to indicate an unfavorable variance 10

Answer 1

Material Quantity Variance=	Standard Price * (Standard Quantity-Actual Quantity)
	$ 12(15000-14600)
	4800
Notes:
Stanadard Price=	$ 12 per pound
Actual Quantiy	14600 pounds
Standard Quantiy	15000 pounds	(20000 units*3/4)