Homework Answers
| Material Cost Variance = Standard Cost - Actual cost | |
| Standard cost = Standard quantity for actual production * Standard price(SQ*SP) | |
| Actual cost = Actual quantity * Actual price (AQ*AP) | |
| Standard quantity for actual production (80*25) | 2000 |
| Standard price | 2 |
| Actual quantity used (3000-500) | 2500 |
| Actual Price (9000/3000) | 3 |
| Material Cost Variance = (SQ*SP) -(AQ*AP) | |
| Material Cost Variance = (2000*2) -(2500*3) | |
| Material Cost Variance = 4000 -7500 | |
| Material Cost Variance = 3500(A) | |
Answer II)
| Material Price Variance = (SP -AP)AQ |
| Material Price Variance = (2 -3)2500 |
| Material Price Variance = 2500(A) |
Answer III)
| Material Usage Variance = (SQ -AQ)SP |
| Material Usage Variance = (2000 -2500)2 |
| Material Usage Variance = 1000(A) |
Add Answer to:
From the following information calculate i material cost variance (ii) material price variance (iii) Material Usage...
From the following information calculate (i) material cost variance (i) material price variance 2. (ii) Material...
From the following information calculate (i) material cost variance (i) material price variance 2. (ii) Material Usage variance Quantity of material purchased 3000 units Value of material purchased AED. 9000 St. quantity of raw material req. p.u. 25 units Standard rate of material unit AED 2 per Nil Opening stock of material Closing stock of material 500 units Finished production during the period 80 units
1. A furniture company uses sunmica tops for tables. It provides the following data: St. Quantity...
1. A furniture company uses sunmica tops for tables. It provides the following data: St. Quantity for sunmica per table 4 sq.ft St. price per sq. ft of sunmica AED 5 Actual prod. Of tables 1000 Sunmica actually used 4,300 sq.ft Actual purchase price per sq. ft AED 5.50. You are required to calculate Material variances. 2. From the following information calculate (i) material cost variance (ii) material price variance (iii) Material Usage variance Quantity of material purchased 3000 units...
All I need is the Materials Price Variance for Material A & B... thanks! Standard cost...
All I need is the Materials Price Variance for Material A
& B... thanks!
Standard cost per unit 4 units of material Ax $ 6.00 per unit Direct materials 1 unit of material B x $ 8.00 per unit 3 hours x $ 18.00 per hour Direct labor Activity for September Materials purchased 6,750 units x $ 6.20 per unit Material A Material B 1,650 units x $ 8.50 per unit Materials used Material A 6,225 units Material B 1,508...
A company produces a product which has a standard variable production cost of $8 per unit made up as follows: ...
A company produces a product which has a standard variable production cost of $8 per unit made up as follows: $ Per Unit Direct material $4.60 (2kg X $2.30 per kg) Direct labour $2.10 (0.7 hours x $3.00 per hour) Variable overhead $1.3 Fixed manufacturing costs are treated as period costs. The following information is available for the period just ended, Variable manufacturing cost of sales (at standard cost) $263,520 Opening stock of finished goods (at standard cost) $120,800 Closing...
Question 5 R Ltd. manufactures three products, A, B and C. The following information is given...
Question 5 R Ltd. manufactures three products, A, B and C. The following information is given below. Sales Forecast Product Quantity Price Per Unit A 1000 Rs.100 B 2000 Rs.120 C 1500 Rs.140 Materials Used in Company’s Products Are: Material M1 Rs.4 per unit Quantities used in Product Product M1 M2 M3 A 4 2 – B 3 3 2 C 2 1 1 Finished Stocks: Product A B C Opening Inventory- units 1000 1500 500 Closing Inventory- units 1100...
Computation of Variable Cost Variances The following information pertains to the standard costs and actual activity...
Computation of Variable Cost Variances The following information pertains to the standard costs and actual activity for Tyler Company for September: Standard cost per unit 4 units of material A x $2.00 per unit Direct materials 1 unit of material B x $3.000 per unit 3 hours x $8.00 per hour Direct labor Activity for September Materials purchased Material A 3,400 units x $2.05 per unit 800 units x $3.10 per unit Material B Materials used Material A 3,050 units...
Q5. What is the direct material efficiency variance? _________ Show calculation below. Q6. Given the info...
Q5. What is the direct material
efficiency variance? _________ Show calculation below.
Q6. Given the info above, what is the
direct labor rate variance? _________ Show calculation below.
Q7. Given the info above, the fixed
overhead controllable variance is: _________ Show calculation
below.
Q8. What is the variable overhead
controllable variance? _________ Show calculation below.
Rogen uses the standard cost system. The Static original budgeted production was 5,000 units for October. The Input standards were: Std Quantity x Std Price...
hoemaker Perkins Company uses a standard cost system and had 590 pounds of raw material X15...
hoemaker Perkins Company uses a standard cost system and had 590 pounds of raw material X15 on hand on September 1. The standard cost of X15 is $20 per pound. The production standard calls for 2 pounds of material X15 for each unit of product manufactured. The company manufactured 790 units of the product in September, and had 880 pounds of material X-15 in stock on September 30. The actual price for material X-15 purchased during the month was $1...
cost sheet for Largo Corp, showed the following material cost related to one unit of produet:...
cost sheet for Largo Corp, showed the following material cost related to one unit of produet: 4pieces at $4 per piece $16 per unit During February 19X1,10,000 units were produced.The costs recorded showed the following Purchase of material 8000 pieces at $3.80 Issue of material 43,000 pieces Determine the material Give the significance and possible explanation of each materials variance What are some causes of unfavorable materials purchase price variances? The purchasing department of a large corporation using the responsibility...
Computation of Variable Cost Variances The following information pertains to the standard costs and actual activity...
Computation of Variable Cost Variances The following information pertains to the standard costs and actual activity for Tyler Company for September: Standard cost per unit Direct materials 4 units of material A x $2.00 unit per 1 unit of material B x $3.00 per unit Direct labor 3 hours x $8.00 per hour Activity for September Materials purchased Material A 4,100 units x $2.05 per unit Material B 1,000 units x $3.10 per unit Materials used Material A 3,750 units...
From the following information calculate (i) material cost variance (i) material price variance 2. (ii) Material Usage variance Quantity of material purchased 3000 units Value of material purchased AED. 9000 St. quantity of raw material req. p.u. 25 units Standard rate of material unit AED 2 per Nil Opening stock of material Closing stock of material 500 units Finished production during the period 80 units
1. A furniture company uses sunmica tops for tables. It provides the following data: St. Quantity for sunmica per table 4 sq.ft St. price per sq. ft of sunmica AED 5 Actual prod. Of tables 1000 Sunmica actually used 4,300 sq.ft Actual purchase price per sq. ft AED 5.50. You are required to calculate Material variances. 2. From the following information calculate (i) material cost variance (ii) material price variance (iii) Material Usage variance Quantity of material purchased 3000 units...
All I need is the Materials Price Variance for Material A
& B... thanks!
Standard cost per unit 4 units of material Ax $ 6.00 per unit Direct materials 1 unit of material B x $ 8.00 per unit 3 hours x $ 18.00 per hour Direct labor Activity for September Materials purchased 6,750 units x $ 6.20 per unit Material A Material B 1,650 units x $ 8.50 per unit Materials used Material A 6,225 units Material B 1,508...
Computation of Variable Cost Variances The following information pertains to the standard costs and actual activity for Tyler Company for September: Standard cost per unit 4 units of material A x $2.00 per unit Direct materials 1 unit of material B x $3.000 per unit 3 hours x $8.00 per hour Direct labor Activity for September Materials purchased Material A 3,400 units x $2.05 per unit 800 units x $3.10 per unit Material B Materials used Material A 3,050 units...
Q5. What is the direct material
efficiency variance? _________ Show calculation below.
Q6. Given the info above, what is the
direct labor rate variance? _________ Show calculation below.
Q7. Given the info above, the fixed
overhead controllable variance is: _________ Show calculation
below.
Q8. What is the variable overhead
controllable variance? _________ Show calculation below.
Rogen uses the standard cost system. The Static original budgeted production was 5,000 units for October. The Input standards were: Std Quantity x Std Price...
cost sheet for Largo Corp, showed the following material cost related to one unit of produet: 4pieces at $4 per piece $16 per unit During February 19X1,10,000 units were produced.The costs recorded showed the following Purchase of material 8000 pieces at $3.80 Issue of material 43,000 pieces Determine the material Give the significance and possible explanation of each materials variance What are some causes of unfavorable materials purchase price variances? The purchasing department of a large corporation using the responsibility...
Computation of Variable Cost Variances The following information pertains to the standard costs and actual activity for Tyler Company for September: Standard cost per unit Direct materials 4 units of material A x $2.00 unit per 1 unit of material B x $3.00 per unit Direct labor 3 hours x $8.00 per hour Activity for September Materials purchased Material A 4,100 units x $2.05 per unit Material B 1,000 units x $3.10 per unit Materials used Material A 3,750 units...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 10 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 10 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 10 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 10 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 10 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 10 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 10 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 10 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 10 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 10 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 10 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 10 months ago