The following company information is available for March. The direct materials price variance is: Direct materials...
The following company information is available for March. The
direct materials price variance is:
| Direct materials purchased and used | 4,100 feet @ $93 per foot | |
| Standard costs for direct materials for March production | 4,200 feet @ $91 per foot | |
Multiple Choice
-
$8,200 unfavorable.
-
$8,200 favorable.
-
$8,400 unfavorable.
-
$8,400 favorable.
-
$900 favorable
Homework Answers
Materials Price Variance
= (SP-AP) *AQ
= (91-93)*4100
= - 2*4100
= 8200 Unfavorable
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The following company information is available for March. The direct materials price variance is: Direct materials...
The following company information is available. The direct materials quantity variance is: Direct materials used for...
The following company information is available. The direct materials quantity variance is: Direct materials used for prodution Standard quantity for units produced Standard cost per gallon of direct material Actual cost per gallon of direct material 35,000 gallons 33,400 gallons $11.00 $11.20 Multiple Choice $17600 unfavorable. $17200 favorable $24,600 unfavorable Multiple Choice $17,600 unfavorable. $17.200 favorable. $24,600 unfavorable. $24,600 favorable. $17,200 unfavorable Use the following data to find the direct labor rate variance if the company produced 3,500 units during...
A company provided the following direct materials cost information. Compute the direct materials price variance. Standard...
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A company provided the following direct materials cost information. Compute the direct materials price variance. Standard...
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Knowledge Check 04 Calculate the direct materials spending variance when the direct materials price variance is $5,500 favorable and the direct materials quantity variance is $660 unfavorable. $4,840 unfavorable $6,160 unfavorable $4,840 favorable $6,160 favorable M9-9 (Algo) Calculating Direct Materials Cost Variances (LO 9. 3] Acoma, Inc., has determined a standard direct materials cost per unit of $7.60 (2 feet * $3.80 per foot). Last month, Acoma purchased and used 4,520 feet of direct materials for which it paid $16,724....
A company provided the following direct materials cost information. Compute the total direct materials cost variance....
A company provided the following direct materials cost information. Compute the total direct materials cost variance. Standard costs assigned: Direct materials standard cost (419,000 units @ $4.00 / unit) $ 1,676,000 Actual costs: Direct Materials costs incurred (417,750 units @ $4.20 / unit) $ 1,754,550 Multiple Choice $78,550 Unfavorable. $78,550 Favorable. $5,000 Favorable. $83,550 Unfavorable. $83,550 Favorable.
A company provided the following direct materials cost information. Compute the direct materials price variance. Standard...
A company provided the following direct materials cost information. Compute the direct materials price variance. Standard costs assigned: Direct materials standard cost (410,000 units @ $3.90/unit) $ 1,599,000 Actual costs: Direct Materials costs incurred (409,250 units @ $4.00/unit) $ 1,637,000 $1,599,000 Favorable. $1,599,000 Unfavorable. $40,925 Unfavorable. $40,925 Favorable. $41,000 Favorable.
A company provided the following direct materials cost information. Compute the direct materials price variance. $1,526,400...
A company provided the following direct materials cost information. Compute the direct materials price variance. $1,526,400 Standard costs assigned: Direct materials standard cost (424,000 units @ $3.60/unit) Actual costs: Direct materials costs incurred (421,500 units @ $3.70/unit) $1,559,550 Ο $1,526,400 Favorable. Ο $1,526,400 Unfovorable. Ο Ο $42.150 Unfavorable. Ο SA2,150 Favorable, Ο $42,400 Favorable.
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Georgia, Inc. has collected the following data on one of its products. The direct materials quantity variance IS. Direct materials standard (3 lbs $1/1b) Total direct materials cost variance-unfavorable $24,250 $3 per finished unit Actual direct materials used 108,000 lbs. 27,000 units Actual finished units produced Multiple Choice $24,250 unfavorable. $27,000 favorable. $2,750 favorable. $24,250 favorable. $27,000 unfavorable. A company has an overhead application rate of 128% of direct labor costs. How much overhead would be allocated to a job...
The following company information is available. The direct materials quantity variance is: Direct materials used for prodution Standard quantity for units produced Standard cost per gallon of direct material Actual cost per gallon of direct material 35,000 gallons 33,400 gallons $11.00 $11.20 Multiple Choice $17600 unfavorable. $17200 favorable $24,600 unfavorable Multiple Choice $17,600 unfavorable. $17.200 favorable. $24,600 unfavorable. $24,600 favorable. $17,200 unfavorable Use the following data to find the direct labor rate variance if the company produced 3,500 units during...
3) The following information is available for Maher Manufacturing Company. - Direct materials price standard is $3.25 per pound. - Direct materials quantity standard is six pounds per finished unit. - Budgeted production is 25,000 finished units. - 175,000 pounds of direct materials were purchased for $525,000. - 175,000 pounds of direct materials were used in production. - 25,600 finished units of product were produced. What is the direct materials quantity variance? A) $21,400 Favorable C) $69,550 Favorable B) $69,550...
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