Homework Answers
| Material price variance | 83200 | Unfavorable | =637000-(260*2130) |
| Material quantity variance | 17040 | Unfavorable | =2130*(260-63*4) |
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Uli uses a standard costing system. For production of a fuel cell, standards call for 4...
Kokomo uses a standard costing system. For production of a fuel cell, standards call for 4...
Kokomo uses a standard costing system. For production of a fuel
cell, standards call for 4 model RN-3 valves per cell costing
$2,340 each. During 2018, the company purchased 260 valves for
$642,200. The company used 252 valves in the production of 61 fuel
cells (8 valves were ruined through installation error).
Calculate material price and quantity variances for the model RN-3
valves. (Enter all variances as a positive
number.)
Material Price Variance
$
Neither Unfavorable nor FavorableFavorableUnfavorable
Material Quantity...
Handley uses a standard costing system. For production of a fuel cell, standards call for 4...
Handley uses a standard costing system. For production of a fuel
cell, standards call for 4 model RN-3 valves per cell costing
$2,450 each. During 2018, the company purchased 250 valves for
$570,000. The company used 240 valves in the production of 58 fuel
cells (8 valves were ruined through installation error).
Calculate material price and quantity variances for the model RN-3
valves. (Enter all variances as a positive
number.)
Material Price Variance
$
Neither Unfavorable nor
FavorableUnfavorableFavorable
Material Quantity...
Exercise 11-7 Your answer is partially correct. Try again. Ceradyne uses a standard costing system. For production of a...
Exercise 11-7 Your answer is partially correct. Try again. Ceradyne uses a standard costing system. For production of a fuel cell, standards call for 4 model RN-3 valves per cell costing $2,380 each. During 2018, the company purchased 220 valves for $466,400. The company used 228 valves in the production of 55 fuel cells (8 valves were ruined through installation error. Calculate material price and quantity variances for the model RN-3 valves. (Enter all variances as a positive number.) Material...
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...
Richetti Band Uniforms uses a standard costing system. The standard material and labor costs for producing...
Richetti Band Uniforms uses a standard costing system. The
standard material and labor costs for producing a marching band hat
are as follows:
Materials (0.90 yards × $11.70)
$10.53
Direct labor (1.20 hours × $13.30)
$15.96
During May, the company produced 3,770 band hats; 4,400 yards of
material were purchased for $42,240, and 3,270 yards of material
were used in production. Also during May, 4,790 direct labor hours
were worked at a cost of $57,480. Calculate material price and
quantity...
Lawn Band Uniforms uses a standard costing system. The standard material and labor costs for producing...
Lawn Band Uniforms uses a standard costing system. The standard
material and labor costs for producing a marching band hat are as
follows:
Materials (0.90 yards ×
$12.20)
$10.98
Direct labor (1.20 hours ×
$13.70)
$16.44
During May, the company produced 3,290 band hats; 4,340 yards of
material were purchased for $44,702, and 3,300 yards of material
were used in production. Also during May, 4,710 direct labor hours
were worked at a cost of $61,230. Calculate material price and
quantity...
Exercise 11-9 Pukalani Band Uniforms uses a standard costing system. The standard material and labor costs...
Exercise 11-9 Pukalani Band Uniforms uses a standard costing system. The standard material and labor costs for producing a marching band hat are as follows: Materials (0.90 yards x $12.40) Direct labor (1.20 hours x $14.30) $11.16 $17.16 During May, the company produced 3,600 band hats; 3,910 yards of material were purchased for $44,574, and 3,120 yards of material were used in production. Also during May, 4,720 direct labor hours were worked at a cost of $61,360. Calculate material price...
Exercise 11-9 Pukalani Band Uniforms uses a standard costing system. The standard material and labor costs...
Exercise 11-9 Pukalani Band Uniforms uses a standard costing system. The standard material and labor costs for producing a marching band hat are as follows: Materials (0.90 yards x $11.40) Direct labor (1.20 hours x $13.80) $10.26 $16.56 During May, the company produced 3,340 band hats; 3,870 yards of material were purchased for $41,022, and 3,050 yards of material were used in production. Also during May, 4,240 direct labor hours were worked at a cost of $59,360. Calculate material price...
Cinrich Band Uniforms uses a standard costing system. The standard material and labor costs for producing a marching ba...
Cinrich Band Uniforms uses a standard costing system. The standard material and labor costs for producing a marching band hat are as follows: Materials (0.90 yards x $11.50) Direct labor (1.20 hours x $13.20) $10.35 $15.84 During May, the company produced 3,520 band hats; 3,770 yards of material were purchased for $36,946, and 2,900 yards of material were used in production. Also during May, 4,300 direct labor hours were worked at a cost of $60,200. Calculate material price and quantity...
Hilda Ltd uses the standard costing system. The standards for Product Z100 are as follows: Material...
Hilda Ltd uses the standard costing system. The standards for Product Z100 are as follows: Material 4 kilograms at R2.50 per kilogram Labour 4 hours at R100 per hour Variable overheads R40 per labour hour Fixed overheads R48 000 Normal production 24 000 units per month Actual production for the month of November 2016 on Product Z100 is: Material 81 000 kilograms used at R2.50 per kg Labour 78 000 hours worked at R96 per hour Variable overheads R44 per...
Kokomo uses a standard costing system. For production of a fuel
cell, standards call for 4 model RN-3 valves per cell costing
$2,340 each. During 2018, the company purchased 260 valves for
$642,200. The company used 252 valves in the production of 61 fuel
cells (8 valves were ruined through installation error).
Calculate material price and quantity variances for the model RN-3
valves. (Enter all variances as a positive
number.)
Material Price Variance
$
Neither Unfavorable nor FavorableFavorableUnfavorable
Material Quantity...
Handley uses a standard costing system. For production of a fuel
cell, standards call for 4 model RN-3 valves per cell costing
$2,450 each. During 2018, the company purchased 250 valves for
$570,000. The company used 240 valves in the production of 58 fuel
cells (8 valves were ruined through installation error).
Calculate material price and quantity variances for the model RN-3
valves. (Enter all variances as a positive
number.)
Material Price Variance
$
Neither Unfavorable nor
FavorableUnfavorableFavorable
Material Quantity...
Exercise 11-7 Your answer is partially correct. Try again. Ceradyne uses a standard costing system. For production of a fuel cell, standards call for 4 model RN-3 valves per cell costing $2,380 each. During 2018, the company purchased 220 valves for $466,400. The company used 228 valves in the production of 55 fuel cells (8 valves were ruined through installation error. Calculate material price and quantity variances for the model RN-3 valves. (Enter all variances as a positive number.) Material...
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...
Richetti Band Uniforms uses a standard costing system. The
standard material and labor costs for producing a marching band hat
are as follows:
Materials (0.90 yards × $11.70)
$10.53
Direct labor (1.20 hours × $13.30)
$15.96
During May, the company produced 3,770 band hats; 4,400 yards of
material were purchased for $42,240, and 3,270 yards of material
were used in production. Also during May, 4,790 direct labor hours
were worked at a cost of $57,480. Calculate material price and
quantity...
Lawn Band Uniforms uses a standard costing system. The standard
material and labor costs for producing a marching band hat are as
follows:
Materials (0.90 yards ×
$12.20)
$10.98
Direct labor (1.20 hours ×
$13.70)
$16.44
During May, the company produced 3,290 band hats; 4,340 yards of
material were purchased for $44,702, and 3,300 yards of material
were used in production. Also during May, 4,710 direct labor hours
were worked at a cost of $61,230. Calculate material price and
quantity...
Exercise 11-9 Pukalani Band Uniforms uses a standard costing system. The standard material and labor costs for producing a marching band hat are as follows: Materials (0.90 yards x $12.40) Direct labor (1.20 hours x $14.30) $11.16 $17.16 During May, the company produced 3,600 band hats; 3,910 yards of material were purchased for $44,574, and 3,120 yards of material were used in production. Also during May, 4,720 direct labor hours were worked at a cost of $61,360. Calculate material price...
Exercise 11-9 Pukalani Band Uniforms uses a standard costing system. The standard material and labor costs for producing a marching band hat are as follows: Materials (0.90 yards x $11.40) Direct labor (1.20 hours x $13.80) $10.26 $16.56 During May, the company produced 3,340 band hats; 3,870 yards of material were purchased for $41,022, and 3,050 yards of material were used in production. Also during May, 4,240 direct labor hours were worked at a cost of $59,360. Calculate material price...
Cinrich Band Uniforms uses a standard costing system. The standard material and labor costs for producing a marching band hat are as follows: Materials (0.90 yards x $11.50) Direct labor (1.20 hours x $13.20) $10.35 $15.84 During May, the company produced 3,520 band hats; 3,770 yards of material were purchased for $36,946, and 2,900 yards of material were used in production. Also during May, 4,300 direct labor hours were worked at a cost of $60,200. Calculate material price and quantity...
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