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For February, sales revenue is $564,000, sales commissions are 4% of sales,...
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
1) 2) 3) 4) 5) A favorable cost variance occurs when Oa. actual costs are the...
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A favorable cost variance occurs when Oa. actual costs are the same as standard costs Ob. actual costs are more than standard costs Oc. standard costs are more than actual costs Od. standard costs are less than actual costs The Flapjack Corporation had 8,042 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 999 units were actually produced. Labor standards were 7.9...
The standard costs and actual costs for direct materials for the manufacture of 2,240 actual units...
The standard costs and actual costs for direct materials for the manufacture of 2,240 actual units of product are Standard Costs 2,240 kilograms @$8.70 Direct materials Actual Costs Direct materials 2,300 kilograms @ $8.10 The amount of the direct materials quantity variance is a. $418 favorable Ob. $418 unfavorable Oc. $522 favorable Od. $522 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 4,670 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
Ruby Company produces a chair that requires 4 yards of material per unit. The standard price...
Ruby Company produces a chair that requires 4 yards of material per unit. The standard price of one yard of material is $12.80. During the month, 5,200 chairs were manufactured, using 21,000 yards at a cost of $12.16 per yard. Determine the following: Enter favorable variances as negative numbers. a. Price Variance $ b. Quantity Variance $ c. Cost Variance $ The standard costs and actual costs for direct materials for the manufacture of 2,020 actual units of product are...
The following data relate to direct labor costs for August: Actual costs: 5,500 hours at $24.00...
The following data relate to direct labor costs for August: Actual costs: 5,500 hours at $24.00 per hour. Standard costs: 5,000 hours at $23.70 per hour. What is the direct labor rate variance? Oa. $1,500 favorable ob. $1,650 favorable OC. $1,500 unfavorable od. $1,650 unfavorable
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, $1.94; actual, $2.05 Standard yards per unit: standard, 4.60 yards; actual, 5.20 yards Units of production: 9,100 Calculate the direct materials price variance. Oa. $5,205.20 favorable Ob. $4,604.60 favorable Oc. $1,001.00 unfavorable Od. $5,205.20 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 4,630 pounds of material, $5.30; and standard costs for 4,410 pounds of material at $6.40 per pound. What is the direct materials price variance? Oa. $5,093 unfavorable Ob. $1,408 favorable c. $1,408 unfavorable Od. $5,093 favorable
Testbank Question 117 Sales Production in units January $26,400 990 February $23,100 1,440 March $33,000 1,710...
Testbank Question 117 Sales Production in units January $26,400 990 February $23,100 1,440 March $33,000 1,710 April $25,000 1,200 Sales are 30% cash and 70% on account, and 60% of credit sales are collected in the month of the sale. In the month after the sale, 30% of credit sales are collected. The remainder is collected two months after the sale. It takes 4 kilograms of direct material to produce a finished unit, and direct materials cost $5 per kilogram....
Problem 14-48 Standard Costs in Process Costing; All Variances and Journal Entries [LO 14-3, 14-5] Dash...
Problem 14-48 Standard Costs in Process Costing; All Variances and Journal Entries [LO 14-3, 14-5] Dash Company adopted a standard costing system several years ago. The standard costs for the prime costs (i.e., direct materials and direct labor) of its single product are: Material (7 kilograms × $6.00 per kilogram) $ 42.00 Labor (5 hours × $18.80 per hour) 94.00 All materials are added at the beginning of processing. The following data were taken from the company’s records for November:...
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
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A favorable cost variance occurs when Oa. actual costs are the same as standard costs Ob. actual costs are more than standard costs Oc. standard costs are more than actual costs Od. standard costs are less than actual costs The Flapjack Corporation had 8,042 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 999 units were actually produced. Labor standards were 7.9...
The standard costs and actual costs for direct materials for the manufacture of 2,240 actual units of product are Standard Costs 2,240 kilograms @$8.70 Direct materials Actual Costs Direct materials 2,300 kilograms @ $8.10 The amount of the direct materials quantity variance is a. $418 favorable Ob. $418 unfavorable Oc. $522 favorable Od. $522 unfavorable
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
The following data relate to direct labor costs for August: Actual costs: 5,500 hours at $24.00 per hour. Standard costs: 5,000 hours at $23.70 per hour. What is the direct labor rate variance? Oa. $1,500 favorable ob. $1,650 favorable OC. $1,500 unfavorable od. $1,650 unfavorable
Use this information to answer the question that follow. The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.94; actual, $2.05 Standard yards per unit: standard, 4.60 yards; actual, 5.20 yards Units of production: 9,100 Calculate the direct materials price variance. Oa. $5,205.20 favorable Ob. $4,604.60 favorable Oc. $1,001.00 unfavorable Od. $5,205.20 unfavorable
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,630 pounds of material, $5.30; and standard costs for 4,410 pounds of material at $6.40 per pound. What is the direct materials price variance? Oa. $5,093 unfavorable Ob. $1,408 favorable c. $1,408 unfavorable Od. $5,093 favorable
Testbank Question 117 Sales Production in units January $26,400 990 February $23,100 1,440 March $33,000 1,710 April $25,000 1,200 Sales are 30% cash and 70% on account, and 60% of credit sales are collected in the month of the sale. In the month after the sale, 30% of credit sales are collected. The remainder is collected two months after the sale. It takes 4 kilograms of direct material to produce a finished unit, and direct materials cost $5 per kilogram....
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