Homework Answers
| Actual Cost | Standard Cost | |||||||||
| AQ | X | AP | AQ | X | SP | SQ | X | SP | ||
| 43700 | X | $ 8.10 | 43700 | X | $ 8.00 | 43200 | X | $ 8.00 | ||
| $ 353,970.00 | $ 349,600.00 | $ 345,600.00 | ||||||||
| -4370 | -4000 | |||||||||
Direct Material Price Variance = (Standard Price - Actual Price )* Actual Quantity = (SPxAQ) - (APXAQ)
Direct Material Quantity Variance = (Standard Quantity - Actual Quantity )* Standard Price = (SQxSP) - (AQXSP)
| Direct Material Price Variance | -4370 | Unfavorable |
| Direct Material Quantity Variance | -4000 | Unfavorable |
| Total Material Variance | -8370 | Unfavorable |
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I need help on this problem A manufactured product has the following information for June. Standard...
Required information [The following information applies to the questions displayed below.) A manufactured product has the...
Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $7 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 43,600 lbs. @ $7.10 per lb. 14,000 hrs. @ $15.40 per hr. $179,700 7,200 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Compute the direct...
A manufactured product has the following information for June. Standard Actual Direct materials (5 lbs. @...
A manufactured product has the following information for
June.
Standard
Actual
Direct materials
(5 lbs. @ $8 per lb.)
42,900
lbs. @ $8.10 per lb.
Direct labor
(3 hrs. @ $16 per hr.)
25,200
hrs. @ $16.50 per hr.
Overhead
(3 hrs. @ $11 per hr.)
$
287,400
Units manufactured
8,500
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
Compute the direct materials price variance and the direct
materials quantity variance. Indicate...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $12 per hr. Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @ $16.50 per hr. $198,000 8,000 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit"...
Required information [The following information applies to the questions displayed below.) A manufactured product has the...
Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (5 lbs. @ $8 per lb.) (2 hrs. @ $17 per hr.) (2 hrs. @ $12 per hr.) Actual 43,900 lbs. @ $8.10 per lb. 17,100 hrs. @ $17.40 per hr. $214,700 8,700 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance...
Required information [The following information applies to the questions displayed below.] A manufactured product has the...
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 3 hrs. @ $17 per hr. 3 hrs. @ $13 per hr. Actual 43,100 lbs. @ $8.10 per lb. 21,100 hrs. @ $17.40 per hr. $282,800 7,100 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 47, 300 lbs. @ $8.10 per lb. 15, 300 hrs. @ $15.50 per hr. $192,900 7,800 Exercise 21-9 Direct materials variances LO P2 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ...
Required information The following information applies to the questions displayed below) A manufactured product has the...
Required information The following information applies to the questions displayed below) A manufactured product has the following information for June. Standard Actual Direct materials 7 lbs. @ $8 per lb. 51,lbs. $8.10 per 24 hrs. @ $15.40 per Direct labor 3 hrs. @ $15 per hr. 21,400 hr. Overhead 3 hrs. @ $13 per hr. $286,400 Units manufactured 7,200 Compute the direct materials price variance and the direct materials quantity variance Indicate the effect of each variance by selecting for...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @ $9 per lb.) 56,500 lbs. @ $9.10 per lb. Direct labor (3 hrs. @ $16 per hr.) 23,700 hrs. @ $16.50 per hr. Overhead (3 hrs. @ $11 per hr.) $ 270,100 Units manufactured 8,000 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ = Actual Quantity SQ = Standard Quantity AP...
Required information [The following information applies to the questions displayed below.] A manufactured product has the...
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard (6 1bs. $8 per lb.) (3 hrs. $16 per hr.) (3 hrs. $12 per hr.) Actual 49,000 lbs. $8.10 per lb. 24,000 hrs. $16.40 per hr. Direct materials Direct labor Overhead $297,200 Units manufactured 8,100 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ = Actual Quantity...
Required information [The following information applies to the questions displayed below] A manufactured product has the...
Required information [The following information applies to the questions displayed below] A manufactured product has the following information for June. Standard Actual Direct materials Direct labor Overhead (6 lbs. $7 per 1b.) (2 hrs. $17 per hr.) (2 hrs. $11 per hr.) 48,000 lbs.e $7.20 per 1b. 15,5ee hrs.@ $17.50 per hr. $179,4e0 7,900 Units manufactured Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ= Actual Quantity SQ-...
Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $7 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 43,600 lbs. @ $7.10 per lb. 14,000 hrs. @ $15.40 per hr. $179,700 7,200 AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Compute the direct...
A manufactured product has the following information for
June.
Standard
Actual
Direct materials
(5 lbs. @ $8 per lb.)
42,900
lbs. @ $8.10 per lb.
Direct labor
(3 hrs. @ $16 per hr.)
25,200
hrs. @ $16.50 per hr.
Overhead
(3 hrs. @ $11 per hr.)
$
287,400
Units manufactured
8,500
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
Compute the direct materials price variance and the direct
materials quantity variance. Indicate...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $12 per hr. Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @ $16.50 per hr. $198,000 8,000 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit"...
Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (5 lbs. @ $8 per lb.) (2 hrs. @ $17 per hr.) (2 hrs. @ $12 per hr.) Actual 43,900 lbs. @ $8.10 per lb. 17,100 hrs. @ $17.40 per hr. $214,700 8,700 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total (2) Compute the total cost variance...
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 3 hrs. @ $17 per hr. 3 hrs. @ $13 per hr. Actual 43,100 lbs. @ $8.10 per lb. 21,100 hrs. @ $17.40 per hr. $282,800 7,100 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 47, 300 lbs. @ $8.10 per lb. 15, 300 hrs. @ $15.50 per hr. $192,900 7,800 Exercise 21-9 Direct materials variances LO P2 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ...
Required information The following information applies to the questions displayed below) A manufactured product has the following information for June. Standard Actual Direct materials 7 lbs. @ $8 per lb. 51,lbs. $8.10 per 24 hrs. @ $15.40 per Direct labor 3 hrs. @ $15 per hr. 21,400 hr. Overhead 3 hrs. @ $13 per hr. $286,400 Units manufactured 7,200 Compute the direct materials price variance and the direct materials quantity variance Indicate the effect of each variance by selecting for...
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard (6 1bs. $8 per lb.) (3 hrs. $16 per hr.) (3 hrs. $12 per hr.) Actual 49,000 lbs. $8.10 per lb. 24,000 hrs. $16.40 per hr. Direct materials Direct labor Overhead $297,200 Units manufactured 8,100 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ = Actual Quantity...
Required information [The following information applies to the questions displayed below] A manufactured product has the following information for June. Standard Actual Direct materials Direct labor Overhead (6 lbs. $7 per 1b.) (2 hrs. $17 per hr.) (2 hrs. $11 per hr.) 48,000 lbs.e $7.20 per 1b. 15,5ee hrs.@ $17.50 per hr. $179,4e0 7,900 Units manufactured Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ= Actual Quantity SQ-...
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