Homework Answers
1. Direct material quantity variance =(Standard qty - Actual qty)*standard price
= (8000*6 -47000)*$50 = $50000 Favorable
2. Direct material quantity variance = (40000*6 - 243000)*2 = $6000 Unfavorable
3. Total controllable cost variance = Total standard cost - total actual cost
= 40000*2 + 72000 - 148800
= $3200 Favorable
Add Answer to:
The standard materials cost to produce 1 unit of Product R is 6 pounds of material at a standard price of $50...
Janitor Supply produces an industrial cleaning powder that requires 40 grams of material at $010 per...
Janitor Supply produces an industrial cleaning powder that requires 40 grams of material at $010 per gram and 0.25 direct labor hours at $12.00 per hour. Overhead is applied at the rate of $18 per direct labor hour What is the total standard cost for one unit of product that would appear on a standard cost card? Multiple Choice $700 $8.50 $11.50. $7.50 $25.00 Claremont Company sells refurbished copiers. During the month, the company sold 180 copiers for total sales...
Summerlin Company budgeted 4,100 pounds of material costing $6.00 per pound to produce 2,000 units. The...
Summerlin Company budgeted 4,100 pounds of material costing $6.00 per pound to produce 2,000 units. The company actually used 4,600 pounds that cost $6.10 per pound to produce 2,000 units. What is the direct materials quantity variance? Multiple Choice 0 $3,050 unfavorable. 0 $460 unfavorable. 0 $3,460 unfavorable. 0 $3,000 unfavorable. 0 $410 unfavorable. Summerlin Company budgeted 4,100 pounds of material costing $6.00 per pound to produce 2,000 units. The company actually used 4,600 pounds that cost $6.10 per pound...
Direct Materials Variances Bellingham Company produces a product that requires 6 standard pounds per unit. The standard...
Direct Materials Variances Bellingham Company produces a product that requires 6 standard pounds per unit. The standard price is $10 per pound. If 6,300 units required 36,300 pounds, which were purchased at $10.3 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter a favorable variance as negative number using a minus sign and an unfavorable variance as a positive number. 10,890 Unfavorable a. Direct materials price variance b....
The standard materials cost to produce 1 unit of Product R is 7 pounds of material...
The standard materials cost to produce 1 unit of Product R is 7 pounds of material at a standard price of $47 per pound. In manufacturing 6,000 units, 41,000 pounds of material were used at a cost of $48 per pound. What is the total direct materials cost variance?
The standard materials cost to produce 1 unit of Product R is 9 pounds of material...
The standard materials cost to produce 1 unit of Product R is 9 pounds of material at a standard price of $54 per pound. In manufacturing 6,400 units, 55,400 pounds of material were used at a cost of $56 per pound. What is the direct materials price variance?
Bellingham Company produces a product that requires 12 standard pounds per unit. The standard price is...
Bellingham Company produces a product that requires 12 standard pounds per unit. The standard price is $9.5 per pound. If 3,400 units used 42,400 pounds, which were purchased at $9.02 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Variances Bellingham Company produces a product that requires 12 standard pounds...
Direct Materials Variances Bellingham Company produces a product that requires 11 standard pounds per unit. The...
Direct Materials Variances Bellingham Company produces a product that requires 11 standard pounds per unit. The standard price is $6 per pound. If 2,000 units required 21,100 pounds, which were purchased at $6.18 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance Unfavorable X...
Direct Materials Variances Bellingham Company produces a product that requires 15 standard pounds per unit. The...
Direct Materials Variances Bellingham Company produces a product that requires 15 standard pounds per unit. The standard price is $8 per pound. If 5,600 units required 87,400 pounds, which were purchased at $8.24 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance b. Direct...
Standard material cost per unit of product is 0.5 pounds at $7.40 per pound, and standard...
Standard material cost per unit of product is 0.5 pounds at
$7.40 per pound, and standard direct labor cost is 1.5 hours at
$13.00 per hour. The total actual materials cost represents 4,900
pounds purchased at $7.70 per pound. Total actual labor cost
represents 14,200 hours at $12.60 per hour. According to standards,
variable overhead rate is applied at $0.70 per direct labor hour
(based on a normal capacity of 15,000 direct labor hours or 10,000
units of product). Assume...
Bellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price is...
Bellingham Company produces a product that requires 2.5 standard
pounds per unit. The standard price is $3.75 per pound. The company
produced 15,000 units that required 36,000 pounds, which were
purchased at $4.00 per pound. The product also requires 4 standard
hours per unit at a standard hourly rate of $20 per hour. The
15,000 units required 61,800 hours at an hourly rate of $19.85 per
hour. In addition, the standard variable overhead cost per unit is
$0.90 per hour...
Janitor Supply produces an industrial cleaning powder that requires 40 grams of material at $010 per gram and 0.25 direct labor hours at $12.00 per hour. Overhead is applied at the rate of $18 per direct labor hour What is the total standard cost for one unit of product that would appear on a standard cost card? Multiple Choice $700 $8.50 $11.50. $7.50 $25.00 Claremont Company sells refurbished copiers. During the month, the company sold 180 copiers for total sales...
Summerlin Company budgeted 4,100 pounds of material costing $6.00 per pound to produce 2,000 units. The company actually used 4,600 pounds that cost $6.10 per pound to produce 2,000 units. What is the direct materials quantity variance? Multiple Choice 0 $3,050 unfavorable. 0 $460 unfavorable. 0 $3,460 unfavorable. 0 $3,000 unfavorable. 0 $410 unfavorable. Summerlin Company budgeted 4,100 pounds of material costing $6.00 per pound to produce 2,000 units. The company actually used 4,600 pounds that cost $6.10 per pound...
Direct Materials Variances Bellingham Company produces a product that requires 6 standard pounds per unit. The standard price is $10 per pound. If 6,300 units required 36,300 pounds, which were purchased at $10.3 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter a favorable variance as negative number using a minus sign and an unfavorable variance as a positive number. 10,890 Unfavorable a. Direct materials price variance b....
Direct Materials Variances Bellingham Company produces a product that requires 11 standard pounds per unit. The standard price is $6 per pound. If 2,000 units required 21,100 pounds, which were purchased at $6.18 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance Unfavorable X...
Direct Materials Variances Bellingham Company produces a product that requires 15 standard pounds per unit. The standard price is $8 per pound. If 5,600 units required 87,400 pounds, which were purchased at $8.24 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance b. Direct...
Standard material cost per unit of product is 0.5 pounds at
$7.40 per pound, and standard direct labor cost is 1.5 hours at
$13.00 per hour. The total actual materials cost represents 4,900
pounds purchased at $7.70 per pound. Total actual labor cost
represents 14,200 hours at $12.60 per hour. According to standards,
variable overhead rate is applied at $0.70 per direct labor hour
(based on a normal capacity of 15,000 direct labor hours or 10,000
units of product). Assume...
Bellingham Company produces a product that requires 2.5 standard
pounds per unit. The standard price is $3.75 per pound. The company
produced 15,000 units that required 36,000 pounds, which were
purchased at $4.00 per pound. The product also requires 4 standard
hours per unit at a standard hourly rate of $20 per hour. The
15,000 units required 61,800 hours at an hourly rate of $19.85 per
hour. In addition, the standard variable overhead cost per unit is
$0.90 per hour...
Most questions answered within 3 hours.
-
1. Which region has taken the lead in the world of
e-waste handling?
a) European Union...
asked 1 minute ago -
If you’re standing at the bottom of a hill and asked to evaluate
it while being...
asked 7 minutes ago -
A 8.15- g bullet from a 9-mm pistol has a velocity of 366.0 m/s.
It strikes...
asked 1 hour ago -
The outstanding bonds of Alpha Extracts have a yield to maturity
of 7.4 percent and a...
asked 1 hour ago -
The Problem: The Case of the Harmonizing Vacations
Your CEO is exploring partnering with a European...
asked 2 hours ago -
A chemical equation is balanced by adding coefficients in front
of some formulas so that the...
asked 2 hours ago -
From the literature (reference your sources): What are the
lattice parameters of calcite and aragonite? Why...
asked 3 hours ago -
Your system is rejecting the question am asking which is
preceded by a case study. It...
asked 3 hours ago -
3. On January 2, 2000, Larry creates a trust with himself as
trustee. Larry as trustee...
asked 3 hours ago -
A member of the volleyball team spikes the ball. During this
process, she changes the velocity...
asked 3 hours ago -
Are adult gamers less likely to use a gaming console (Xbox,
PlayStation, Wii, etc...) than teen...
asked 4 hours ago -
The University of
Texas recently reported that 43% of college students aged 18-24
would spend their...
asked 4 hours ago