Homework Answers
Correct answer-----------(d) $5093 Favorable
Working
| Material Price Variance | ||||||
| ( | Standard Rate | - | Actual Rate | ) | x | Actual Quantity |
| ( | $ 6.40 | - | $ 5.30 | ) | x | 4630 |
| 5093 | ||||||
| Variance | $ 5,093.00 | Favourable-F | ||||
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Myers Corporation has the following data related to direct materials costs for November: actual costs for...
Myers Corporation has the following data related to direct materials costs for November: actual costs for...
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,670 pounds of material, $5.00; and standard costs for 4,460 pounds of material at $6.40 per pound. What is the direct materials price variance? Oa. $1,344 unfavorable ob. $6,538 unfavorable OC. $6,538 favorable Od. $1,344 favorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for...
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,650 pounds of material, $5.10; and standard costs for 4,410 pounds of material at $6.10 per pound. What is the direct materials price variance? Oa. $4,650 favorable b. $4,650 unfavorable c. $1,464 favorable d. $1,464 unfavorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for...
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,600 pounds of material, $5.10; and standard costs for 4,410 pounds of material at $6.20 per pound. What is the direct materials price variance? a. $5,060 unfavorable b. $1,178 unfavorable c. $5,060 favorable d. $1,178 favorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for...
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,690 pounds of material, $5.20 and standard costs for 4,490 pounds of material at $6.40 per pound. What is the direct materials quantity variance? a. $5,628 unfavorable b. $5,628 favorable c. $1,280 favorable d. $1,280 unfavorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for...
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,660 pounds of material, $5.20; and standard costs for 4,470 pounds of material at $6.00 per pound. What is the direct materials price variance? a.$1,140 favorable b.$3,728 favorable c.$3,728 unfavorable d.$1,140 unfavorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for...
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,680 pounds of material, $5.00; and standard costs for 4,450 pounds of material at $6.10 per pound. What is the direct materials price variance? $1,403 unfavorable $5,148 unfavorable $5,148 favorable $1,403 favorable The standard costs and actual costs for direct materials for the manufacture of 2,100 actual units of product are Standard Costs Direct materials (per completed unit) 1,040 kilograms @$8.75 Actual Costs Direct...
Use this information to answer the question that follow. The following data relate to direct materials...
Use this information to answer the question that follow. The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.98; actual, $2.03 Standard yards per unit: standard, 4.62 yards; actual, 5.06 yards Units of production: 9,100 Calculate the direct materials quantity variance. a.$8,128.12 favorable b.$7,927.92 unfavorable c.$7,927.92 favorable d.$8,128.12 unfavorable Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,600 pounds of material, $5.00 and standard costs for...
The standard costs and actual costs for direct materials for the manufacture of 2,900 actual units...
The standard costs and actual costs for direct materials for the manufacture of 2,900 actual units of product are Standard Costs Direct materials (per completed unit) 1,040 kilograms @$8.82 Actual Costs Direct materials Round your final answer to the nearest dollar. 2,900 kilograms @ $8.00 The amount of direct materials price variance is oa. $853 favorable ob. $2,378 favorable OC. $853 unfavorable od. $2,378 unfavorable
The following data relate to direct materials costs for November: Actual costs 4,700 pounds at $5.35...
The following data relate to direct materials costs for November: Actual costs 4,700 pounds at $5.35 Standard costs 4,500 pounds at $6.20 What is the total direct materials variance? $7,595 favorable $2755 favorable $7,360 favorable $2,755 unfavorable
Suver Corporation has a standard costing system. The following data are available for June Actual quantity...
Suver Corporation has a standard costing system. The following data are available for June Actual quantity of direct materials purchased Standard price of direct materials Material price variance Material quantity variance 70,000 pounds $ 8.00 per pound $ 3,500 Unfavorable $ 2,500 Favorable The actual price per pound of direct materials purchased in June was:
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,670 pounds of material, $5.00; and standard costs for 4,460 pounds of material at $6.40 per pound. What is the direct materials price variance? Oa. $1,344 unfavorable ob. $6,538 unfavorable OC. $6,538 favorable Od. $1,344 favorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,650 pounds of material, $5.10; and standard costs for 4,410 pounds of material at $6.10 per pound. What is the direct materials price variance? Oa. $4,650 favorable b. $4,650 unfavorable c. $1,464 favorable d. $1,464 unfavorable
The standard costs and actual costs for direct materials for the manufacture of 2,900 actual units of product are Standard Costs Direct materials (per completed unit) 1,040 kilograms @$8.82 Actual Costs Direct materials Round your final answer to the nearest dollar. 2,900 kilograms @ $8.00 The amount of direct materials price variance is oa. $853 favorable ob. $2,378 favorable OC. $853 unfavorable od. $2,378 unfavorable
Suver Corporation has a standard costing system. The following data are available for June Actual quantity of direct materials purchased Standard price of direct materials Material price variance Material quantity variance 70,000 pounds $ 8.00 per pound $ 3,500 Unfavorable $ 2,500 Favorable The actual price per pound of direct materials purchased in June was:
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