Timothy Company employs standard costing. The standards and actual operating data for the month are as...

Question

Question

Timothy Company employs standard costing. The standards and actual operating data for the month are as...

Timothy Company employs standard costing. The standards and actual operating data for the month are as follows:

Standards
Direct materials	3.0 pounds per unit @ $4.50 per pound
Direct labor	5.0 hours per unit @ $10.25 per hour
Standard quantity allowed	10,500 pounds
Standard hours allowed	17,500 hours

Actual
Direct materials purchased	11,000 pounds @ $4.25 per pound
Direct materials used	10,700 pounds
Direct labor	17,300 hours @ $10.20 per hour

The materials quantity variance is:

	A.	$2,250 UF
	B.	none of these
	C.	$900 F
	D.	$900 UF
	E.	$2,250 F

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Answer: D. $900 UF

Materials quantity variance = (Actual Quantity used x Standard Rate) - (Standard Quantity allowed for actual output x Standard Rate) = (10700 x $4.50) – (10500 x $4.50) = $900 Unfavorable

Add a comment

Answer 2

Similar Homework Help Questions

Timothy Company employs standard costing. The standards and actual operating data for the month are as...

Timothy Company employs standard costing. The standards and actual operating data for the month are as follows: Standards Direct materials 3.0 pounds per unit @ $4.50 per pound Direct labor 5.0 hours per unit @ $10.25 per hour Standard quantity allowed 10,500 pounds Standard hours allowed 17,500 hours Actual Direct materials purchased 11,000 pounds @ $4.25 per pound Direct materials used 10,700 pounds Direct labor 17,300 hours @ $10.20 per hour The overall direct materials variance is: A. none of...
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...
TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard...

TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product. Standard Standard Standard Quantity Price Cost Direct Materials 10 pounds $ 1.90 per pound $ 19.00 Direct Labor .20 hour $ 8.00 per hour 1.60 $ 20.60 During November, TaskMaster purchased 200,000 pounds of direct materials at a total cost of $440,000. The total factory wages for November...

TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard...

TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product. Standard Standard Standard Quantity Price Cost Direct Materials 36 pounds $ 3.20 per pound $ 115.20 Direct Labor 0.60 hour $ 15.50 per hour 9.30 $ 124.50 During November, TaskMaster purchased 83,000 pounds of direct materials at a total cost of $332,000. The total factory wages for November...
TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard...

TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product. Standard Standard Standard Quantity Price Cost Direct Materials 16 pounds $ 2.20 per pound $ 35.20 Direct Labor 0.35 hour $ 10.00 per hour 3.50 $ 38.70 During November, TaskMaster purchased 130,000 pounds of direct materials at a total cost of $312,000. The total factory wages for November...
TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard...

TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product. Standard Standard Standard Quantity Price Cost Direct Materials 8 pounds $ 1.80 per pound $ 14.40 Direct Labor 0.25 hour $ 8.00 per hour 2.00 $ 16.40 During November, TaskMaster purchased 160,000 pounds of direct materials at a total cost of $304,000. The total factory wages for November...

Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard...

Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price Standard or Hours or Rate Cost 3 feet $5 per foot $ 15 ? hours ? per hour Direct materials Direct labor During March, the company purchased direct materials at a cost of $45,375, all of which were used in the production of 2,350 units of product. In addition, 4,800 direct labor-hours were worked on the product during the month. The cost of...
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....
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or...

Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 3 feet $ 5 per foot $ 15 Direct labor ? hours ? per hour ? During March, the company purchased direct materials at a cost of $45,375, all of which were used in the production of 2,350 units of product. In addition, 4,800 direct labor-hours were worked on the product during the month. The...

Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or...

Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours 3 feet ? hours Direct materials Direct labor Standard Price or Rate $5 per foot ? per hour Standard Cost $ 15 ? During March, the company purchased direct materials at a cost of $42,660, all of which were used in the production of 2,250 units of product. In addition, 4,600 direct labor-hours were worked on the product during the month. The cost...

Timothy Company employs standard costing. The standards and actual operating data for the month are as...

Homework Answers