Homework Answers
| a) Material Price Variance = (Actual price - Std. price) * Actual usage | |||||||
| (27324/2640 - 10.40) * 2260 = $113 F | |||||||
| b) Material Quantity variance = (Std. usage for actual output - Actual usage) * Std price | |||||||
| (430*5 - 2260) * 10.40 = $1144 U | |||||||
Add Answer to:
The standards for product K17 call for 5 meters of a raw material that costs $10.40...
2. The standards for product V28 call for 7.6 pounds of a raw material that costs...
2.
The standards for product V28 call for 7.6 pounds of a raw material that costs $18.00 per pound. Last month, 1,500 pounds of the raw material were purchased for $26,700. The actual output of the month was 170 units of product V28. A total of 1,400 pounds of the raw material were used to produce this output. The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the...
The following standards have been established for a raw material used to make product 084 Standard...
The following standards have been established for a raw material used to make product 084 Standard quantity of the material per unit of output Standard price of the material 8.5 meters $19.70 per meter The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output 4,800 meters ş 98,880 4,500 meters 640 units of product 084 The direct materials purchases variance is computed when the materials are...
the following standards have been established for a raw material used to make product O84 The...
the following standards have been established for a raw
material used to make product O84
The following standards have been established for a raw material used to make product 084: Standard quantity of the material per unit of output Standard price of the material 8.1 meters $ 19.30 per meter The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output 4,400 meters $ 88,880 4.100 meters...
need this asap please PROBLEMIL 2. The standards for product J35 call for 1.0 pounds of...
need this asap please
PROBLEMIL 2. The standards for product J35 call for 1.0 pounds of a raw material that costs $15.60 per pound. Last month, 5,700 pounds of the raw material were purchased for $90,345. The actual output of the month was 5,280 units of product J35. A total of 5,200 pounds of the raw material were used to produce this output. Required: a. Calculate the materials price variance for the month b. Calculate the materials quantity variance for...
The following materials standards have been established for a particular product: Standard quantity per unit of...
The following materials standards have been established for a particular product: Standard quantity per unit of output 6.0 meters Standard price $ 18.30 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased 9,700 meters Actual cost of materials purchased $ 185,270 Actual materials used in production 9,200 meters Actual output 1,510 units What is the materials price variance for the month? Multiple Choice $2,674 U $10,200 U $7,760 U $15,950 U...
1) The standards for a product call for 2.5 pounds of a raw material that costs...
1) The standards for a product call for 2.5 pounds of a raw material that costs $6.10 per pound. Last month, 30,000 pounds of the raw material were purchased for $187,500. The actual output of the month was 9,000 units of the product. A total of 22,200 pounds of the raw material were used to produce this output. Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month? 2)...
Turrubiates Corporation makes a product that uses a material with the following standards 8.0 liters per unit $ 2.5...
Turrubiates Corporation makes a product that uses a material with the following standards 8.0 liters per unit $ 2.50 per liter $20.00 per unit Standard quantity Standard price Standard cost The company budgeted for production of 3,800 units in April, but actual production was 3,900 units. The company used 32,000 liters of direct material to produce this output. The company purchased 20,100 liters of the direct material at $2.60 per Iter The direct materials purchases variance is computed when the...
Turrubiates Corporation makes a product that uses a material with the following standards: Standard quantity 7.8...
Turrubiates Corporation makes a product that uses a material with the following standards: Standard quantity 7.8 liters per unit Standard price $ 2.30 per liter Standard cost $ 17.94 per unit The company budgeted for production of 3,600 units in April, but actual production was 3,700 units. The company used 29,400 liters of direct material to produce this output. The company purchased 19,900 liters of the direct material at $2.4 per liter. The direct materials purchases variance is computed when...
The following standards have been established for a raw material used to make product N04: Standard...
The following standards have been established for a raw material used to make product N04: Standard quantity of the material per unit of output 2.7 pounds Standard price of the material ........ $15.50 per pound The following data pertain to a recent month's operations: Actual material purchased.... 5,200 pounds Actual cost of material purchased......... $82,680 Actual material used in production....... 4,600 pounds Actual output.... 1,760 units of product N04 a. What is the materials price variance for the month? b....
Park Corporation makes a product that uses a material with the following standards: Standards quantity .....................................
Park Corporation makes a product that uses a material with the following standards: Standards quantity .................................. 8.4 pounds per unit Standard price ........................................ $6.00 per pound Standard cost ........................................ $50.40 per unit The company budgeted for production 5,800 units in September, but actual production was 5,900 units. The company used 50,210 pounds of direct material to produce this output. The company purchased 55,100 pounds of the direct material at $5.80 per pound. The direct materials purchases variance is computed when...
2.
The standards for product V28 call for 7.6 pounds of a raw material that costs $18.00 per pound. Last month, 1,500 pounds of the raw material were purchased for $26,700. The actual output of the month was 170 units of product V28. A total of 1,400 pounds of the raw material were used to produce this output. The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the...
The following standards have been established for a raw material used to make product 084 Standard quantity of the material per unit of output Standard price of the material 8.5 meters $19.70 per meter The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output 4,800 meters ş 98,880 4,500 meters 640 units of product 084 The direct materials purchases variance is computed when the materials are...
the following standards have been established for a raw
material used to make product O84
The following standards have been established for a raw material used to make product 084: Standard quantity of the material per unit of output Standard price of the material 8.1 meters $ 19.30 per meter The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output 4,400 meters $ 88,880 4.100 meters...
need this asap please
PROBLEMIL 2. The standards for product J35 call for 1.0 pounds of a raw material that costs $15.60 per pound. Last month, 5,700 pounds of the raw material were purchased for $90,345. The actual output of the month was 5,280 units of product J35. A total of 5,200 pounds of the raw material were used to produce this output. Required: a. Calculate the materials price variance for the month b. Calculate the materials quantity variance for...
Turrubiates Corporation makes a product that uses a material with the following standards 8.0 liters per unit $ 2.50 per liter $20.00 per unit Standard quantity Standard price Standard cost The company budgeted for production of 3,800 units in April, but actual production was 3,900 units. The company used 32,000 liters of direct material to produce this output. The company purchased 20,100 liters of the direct material at $2.60 per Iter The direct materials purchases variance is computed when the...
The following standards have been established for a raw material used to make product N04: Standard quantity of the material per unit of output 2.7 pounds Standard price of the material ........ $15.50 per pound The following data pertain to a recent month's operations: Actual material purchased.... 5,200 pounds Actual cost of material purchased......... $82,680 Actual material used in production....... 4,600 pounds Actual output.... 1,760 units of product N04 a. What is the materials price variance for the month? b....
Most questions answered within 3 hours.
-
5.61 g of octane, C8H18, reacts with excess oxygen in a bomb
calorimeter. The heat capacity...
asked 23 seconds from now -
The velocity field of a flow is given by V = (2+1) x
y2 i +...
asked 8 minutes ago -
(EPS with
Convertible Bonds) On June 1, 2012, Bluhm Company and
Amanar Company merged to form...
asked 6 minutes ago -
2. Discuss why the study exemplifies one that agrees with The
American Psychological Association’s (APA) Ethical...
asked 10 minutes ago -
Without considering the following capital gains and losses,
Charlene, who is single, has a taxable income...
asked 17 minutes ago -
1a. The __________ functional group often triggers our sense of
smell.
1b. The geometry around a...
asked 30 minutes ago -
A uniform plank of length 2.00 m and mass 34.0 kg is supported
by three ropes,...
asked 31 minutes ago -
Suppose a floor on a hospital has 12 physicians at any given
time. You are brought...
asked 45 minutes ago -
Compartmentalization
in eukaryotic cells facilitates chemical reactions happening faster
due to... Select all
Substrates needed for...
asked 32 minutes ago -
The deltaH for the solution process when solid sodium
hydroxide dissolves in water is 44.4 kJ/mol....
asked 35 minutes ago -
a. Discuss the reciprocal/opposite “hormonal” regulation of the
most highly regulated steps of these two pathways....
asked 53 minutes ago -
Members of unions had mounted campaigns to persuade customers
not to shop at a company because...
asked 54 minutes ago