Homework Answers
Direct material quantity variance = (Standard qty-actual qty)Standard price = (5400*2-9800)*5 = 5000 F
So answer is b) $5000 Favorable
116) Total labor variance = Standard cost-actual cost = (3000*1.5*15)-60450 = 7050 F
So answer is d) $7000 favorable
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Multiple Choice Question 115 The per-unit standards for direct materials are 2 pounds at $5 per...
Multiple Choice Question 88 The per-unit standards for direct labor are 2 direct labor hours at...
Multiple Choice Question 88 The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 2100 units, the actual direct labor cost was $62400 for 3900 direct labor hours worked, the total direct labor variance is $600 unfavorable. $375 unfavorable. $2100 unfavorable. O $600 favorable.
The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 12200...
The per-unit standards for direct materials are 2 gallons at $4
per gallon. Last month, 12200 gallons of direct materials that
actually cost $45140 were used to produce 7000 units of product.
The direct materials quantity variance for last month was
$7200 unfavorable.
$7200 favorable.
$6100 unfavorable.
$5400 favorable.
A company developed the following per - unit standards for its product: 2 pounds of direct...
A company developed the following per - unit standards for its product: 2 pounds of direct materials at $4 per pound. Last month, 1,500 pounds of direct materials were purchased for $5,700. The direct materials price variance for last month was a. 5,700 Favorable b. $300 Favorable c. $150 Favorable d. $300 unfavorable
Jones Company has the following standards for its single product: standard quantity standard price direct materials...
Jones Company has the following standards for its single product: standard quantity standard price direct materials 11 pounds per unit $4.25 per pound direct labor 8 hours per unit $14.00 per hour variable overhead 8 hours per unit ?????? per hour Jones Company reported the following information for the month of October: 1. 9,140 units were produced. 2. The direct material quantity variance was $36,295 favorable. 3. The variable overhead spending variance was $1,520 favorable. 4. The total direct labor...
A company uses the following standard costs to produce a single unit of output. Direct materials...
A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor Manufacturing overhead 6 pounds at $1.2 per pound 0.40 hour at $10.00 per hour 0.40 hour at $4.90 per hour -$7.20 - $4.00 -$1.96 During the latest month, the company purchased and used 56,000 pounds of direct materials at a price of $1.50 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $35,616 based on 3,710...
Direct Materials Variances Bellingham Company produces a product that requires 6 standard pounds per unit. The standard...
Direct Materials Variances Bellingham Company produces a product that requires 6 standard pounds per unit. The standard price is $10 per pound. If 6,300 units required 36,300 pounds, which were purchased at $10.3 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter a favorable variance as negative number using a minus sign and an unfavorable variance as a positive number. 10,890 Unfavorable a. Direct materials price variance b....
A company uses the following standard costs to produce a single unit of output. Direct materials...
A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor Manufacturing overhead 5 pounds at $0.80 per pound 0.5 hour at $8.00 per hour 0.5 hour at $3.00 per hour -$4.00 -$4.00 -$1.50 During the latest month, the company purchased and used 48,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $36,806 based on 4,780 direct...
A company uses the following standard costs to produce a single unit of output. Direct materials...
A company uses the following standard costs to produce a single unit of output. Direct materials 6 pounds at $0.90 per pound = $ 5.40 Direct labor 0.5 hour at $12.00 per hour = $ 6.00 Manufacturing overhead 0.5 hour at $4.80 per hour = $ 2.40 During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month...
Jones Company has the following standards for its single product: standard quantity standard price direct materials...
Jones Company has the following standards for its single product: standard quantity standard price direct materials 13 pounds per unit $5.10 per pound direct labor 6 hours per unit $16.00 per hour variable overhead 6 hours per unit $11.00 per hour Jones Company reported the following information for the month of October: 1. 4,280 units were produced. 2. 63,000 pounds of direct materials were purchased at cost of $5.40 per pound. 3. 27,200 direct labor hours were worked....
2. The standards for product V28 call for 7.6 pounds of a raw material that costs...
2.
The standards for product V28 call for 7.6 pounds of a raw material that costs $18.00 per pound. Last month, 1,500 pounds of the raw material were purchased for $26,700. The actual output of the month was 170 units of product V28. A total of 1,400 pounds of the raw material were used to produce this output. The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the...
Multiple Choice Question 88 The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 2100 units, the actual direct labor cost was $62400 for 3900 direct labor hours worked, the total direct labor variance is $600 unfavorable. $375 unfavorable. $2100 unfavorable. O $600 favorable.
The per-unit standards for direct materials are 2 gallons at $4
per gallon. Last month, 12200 gallons of direct materials that
actually cost $45140 were used to produce 7000 units of product.
The direct materials quantity variance for last month was
$7200 unfavorable.
$7200 favorable.
$6100 unfavorable.
$5400 favorable.
A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor Manufacturing overhead 6 pounds at $1.2 per pound 0.40 hour at $10.00 per hour 0.40 hour at $4.90 per hour -$7.20 - $4.00 -$1.96 During the latest month, the company purchased and used 56,000 pounds of direct materials at a price of $1.50 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $35,616 based on 3,710...
Direct Materials Variances Bellingham Company produces a product that requires 6 standard pounds per unit. The standard price is $10 per pound. If 6,300 units required 36,300 pounds, which were purchased at $10.3 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter a favorable variance as negative number using a minus sign and an unfavorable variance as a positive number. 10,890 Unfavorable a. Direct materials price variance b....
A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor Manufacturing overhead 5 pounds at $0.80 per pound 0.5 hour at $8.00 per hour 0.5 hour at $3.00 per hour -$4.00 -$4.00 -$1.50 During the latest month, the company purchased and used 48,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $36,806 based on 4,780 direct...
2.
The standards for product V28 call for 7.6 pounds of a raw material that costs $18.00 per pound. Last month, 1,500 pounds of the raw material were purchased for $26,700. The actual output of the month was 170 units of product V28. A total of 1,400 pounds of the raw material were used to produce this output. The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the...
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