Homework Answers
Solution
Correct option is $2,000 U
Explanation:
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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: 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...
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...
Standard Quantity or Standard Cost Per Unit Direct materials Direct labor Variable overhead 3.3 liters 2.5...
Standard Quantity or Standard Cost Per Unit Direct materials Direct labor Variable overhead 3.3 liters 2.5 hours 0.5 hours Standard Price or Rate $ 8.00 per liter $32.00 per hour $ 3.00 per hour $16.00 $ 1.50 The company budgeted for production of 3.600 units in September but actual production was 1500 units The company used 6.440 Mers of direct material and direct labor hours to produce this ou company purchased 6 800 liters of the direct material at $8...
Miguez Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price...
Miguez Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 2.3 liters $ 7.00 per liter $ 16.10 Direct labor 0.7 hours $ 22.00 per hour $ 15.40 Variable overhead 0.7 hours $ 2.00 per hour $ 1.40 The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours...
Landram Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price...
Landram Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 2.0 liters $7.00 per liters Direct labor 1.1 hours $13.00 per hour Variable overhead 1.1 hours $7.00 per hour The company produced 4,800 units in April using 10,290 liters of direct material and 2,270 direct labor-hours. During the month, the company purchased 10,860 liters of the direct material at $7.35. per liter. The actual direct labor rate was $13.60 per...
Gipple Corporation makes a product that uses a material with the quantity standard of 8.4 grams...
Gipple Corporation makes a product that uses a material with the quantity standard of 8.4 grams per unit of output and the price standard of $7.10 per gram. In January the company produced 4,500 units using 25,970 grams of the direct material. During the month the company purchased 28,500 grams of the direct material at $7.30 per gram. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for January is: Note whether the...
Gipple Corporation makes a product that uses a material with the quantity standard of 7.3 grams...
Gipple Corporation makes a product that uses a material with the quantity standard of 7.3 grams per unit of output and the price standard of $6.00 per gram. In January the company produced 3,400 units using 24,870 grams of the direct material. During the month the company purchased 27,400 grams of the direct material at $6.10 per gram. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for January is: Select one: a....
Hemandez Corporation uses a standard cost system and has established the following standards for one unit...
Hemandez Corporation uses a standard cost system and has established the following standards for one unit of product: Standard Quantity 10 pounds 25 hour Standard Cost $26.00 Price Direct materials Direct labor $2.60 per pound $10.00 per hour2.50 $28.50 During October, the company purchased 240,000 pounds of material at a total cost of $588,000. The total factory wages for October were $49,400. During October, 21,000 units ofproduct were manufactured using 211,000 pounds of material and 5,200 direct labor hours. Material...
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...
Kennedy Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price...
Kennedy Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost per Unit Direct materials 8.2 pounds $7.00 per pound $57.40 Direct labor 0.4 hours $20.00 per hour $8.00 Variable overhead 0.4 hours $2.00 per hour $0.80 The company budgeted for production of 2,400 units in June, but actual production was 2,500 units. The company used 19,850 pounds of direct material and 980 direct labor-hours to produce this output. The company...
Standard Quantity or Standard Cost Per Unit Direct materials Direct labor Variable overhead 3.3 liters 2.5 hours 0.5 hours Standard Price or Rate $ 8.00 per liter $32.00 per hour $ 3.00 per hour $16.00 $ 1.50 The company budgeted for production of 3.600 units in September but actual production was 1500 units The company used 6.440 Mers of direct material and direct labor hours to produce this ou company purchased 6 800 liters of the direct material at $8...
Landram Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 2.0 liters $7.00 per liters Direct labor 1.1 hours $13.00 per hour Variable overhead 1.1 hours $7.00 per hour The company produced 4,800 units in April using 10,290 liters of direct material and 2,270 direct labor-hours. During the month, the company purchased 10,860 liters of the direct material at $7.35. per liter. The actual direct labor rate was $13.60 per...
Hemandez Corporation uses a standard cost system and has established the following standards for one unit of product: Standard Quantity 10 pounds 25 hour Standard Cost $26.00 Price Direct materials Direct labor $2.60 per pound $10.00 per hour2.50 $28.50 During October, the company purchased 240,000 pounds of material at a total cost of $588,000. The total factory wages for October were $49,400. During October, 21,000 units ofproduct were manufactured using 211,000 pounds of material and 5,200 direct labor hours. Material...
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