Ceelo Company purchased (at a cost of $23,290) and used 3,400 pounds of materials during May....
Ceelo Company purchased (at a cost of $23,290) and used 3,400 pounds of materials during May. Ceelo’s standard cost of materials per unit produced is based on 1 pounds per unit at a cost $7.00 per pound. Production in May was 3,340 units.
Compute the total, price, and quantity variances for materials.
(Round answers to 0 decimal places, e.g.
125.)
| Total Materials Variance | $ | FavorableUnfavorableNeither favorable nor unfavorable | ||
| Materials Price Variance | $ | UnfavorableFavorableNeither favorable nor unfavorable | ||
| Materials Quantity Variance |
Homework Answers
| Answer | |
| Answer :- actual cost per unit 6.85 | |
| Actual Quantity = $3400 | |
| Standard Quantity $3340 | |
| Standard cost per unit $7 | |
| 1 | Total cost variance = ($3340×7)-(3400×6.85)= $90 favorable |
| 2 | Material price variance = $3400(7-6.85) $510 favorable |
| 3 | Material quantity variance =7(3340-3400) = $ 420 adverse |
| please Like ( Positive rating ) |
Add Answer to:
Ceelo Company purchased (at a cost of $23,290) and used 3,400 pounds of materials during May....
Ceelo Company purchased (at a cost of $12,510) and used 1,800 pounds of materials during May....
Ceelo Company purchased (at a cost of $12,510) and used 1,800 pounds of materials during May. Ceelo’s standard cost of materials per unit produced is based on 1 pounds per unit at a cost $7.00 per pound. Production in May was 1,720 units. (a) Compute the total, price, and quantity variances for materials. (Round answers to 0 decimal places, e.g. 125.) Total Materials Variance $ UnfavorableFavorableNeither favorable nor unfavorable Materials Price Variance $ UnfavorableFavorableNeither favorable nor unfavorable Materials Quantity Variance...
Ceelo Company purchased (at a cost of $12,510) and used 1,800 pounds of materials during May....
Ceelo Company purchased (at a cost of $12,510) and used 1,800 pounds of materials during May. Ceelo’s standard cost of materials per unit produced is based on 1 pounds per unit at a cost $7.00 per pound. Production in May was 1,720 units. (a) Compute the total, price, and quantity variances for materials. (Round answers to 0 decimal places, e.g. 125.) Total Materials Variance $ UnfavorableFavorableNeither favorable nor unfavorable Materials Price Variance $ UnfavorableFavorableNeither favorable nor unfavorable Materials Quantity Variance...
Ceelo Company purchased (at a cost of $22,050) and used 3,500 pounds of materials during May....
Ceelo Company purchased (at a cost of $22,050) and used 3,500 pounds of materials during May. Ceelo's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $6.50 per pound. Production in May was 1,670 units. (a) Compute the total, price, and quantity variances for materials. (Round answers to 0 decimal places, e.g. 125.) Total Materials Variance ta Materials Price Variance ta Materials Quantity Variance $
Current Attempt in Progress Ceelo Company purchased (at a cost of $10,560) and used 2,200 pounds...
Current Attempt in Progress Ceelo Company purchased (at a cost of $10,560) and used 2,200 pounds of materials during May. Ceelo's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $5.00 per pound. Production in May was 1,040 units. Compute the total, price, and quantity variances for materials. (Round answers to decimal places, e.g. 125.) Total Materials Variance $ Materials Price Variance Materials Quantity Variance $
The standard cost of Product B manufactured by Flint Company includes 3.90 units of direct materials...
The standard cost of Product B manufactured by Flint Company
includes 3.90 units of direct materials at $5.60 per unit. During
June, 26,700 units of direct materials are purchased at a cost of
$5.45 per unit, and 26,700 units of direct materials are used to
produce 6,800 units of Product B.
Compute the total materials variance and the price and quantity
variances.
Total materials variance
$
Neither favorable nor unfavorableUnfavorableFavorable
Materials price variance
$
UnfavorableFavorableNeither favorable nor unfavorable
Materials quantity...
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one...
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (9 pounds at $1.90 per pound) $17.10 Direct labor (4 hours at $10.00 per hour) $40.00 During the month of April, the company manufactures 160 units and incurs the following actual costs. Direct materials purchased and used (2,100 pounds) $4,410 Direct labor (680 hours) $6,664 Compute the total, price, and quantity variances for materials and labor. Total materials...
Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below....
Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials—1 pound plastic at $6 per pound $ 6.00 Direct labor—0.50 hours at $11.95 per hour 5.98 Variable manufacturing overhead 3.00 Fixed manufacturing overhead 5.00 Total standard cost per unit $19.98 The predetermined manufacturing overhead rate is $16 per direct labor hour ($8.00 ÷ 0.50). It was computed from a master manufacturing overhead budget based on normal production of 2,600 direct labor hours...
Whispering Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct ma...
Whispering Corporation manufactures a single product. The
standard cost per unit of product is shown below.
Direct materials—1 pound plastic at $7.00 per pound
$ 7.00
Direct labor—2.5 hours at $11.80 per hour
29.50
Variable manufacturing overhead
17.50
Fixed manufacturing overhead
17.50
Total standard cost per unit
$71.50
The predetermined manufacturing overhead rate is $14.00 per direct
labor hour ($35.00 ÷ 2.5). It was computed from a master
manufacturing overhead budget based on normal production of 13,250
direct labor hours...
The standard cost of Product B manufactured by Pharrell Company includes 2.7 units of direct materials...
The standard cost of Product B manufactured by Pharrell Company includes 2.7 units of direct materials at $6.20 per unit. During June, 26,700 units of direct materials are purchased at a cost of $6.05 per unit, and 26,700 units of direct materials are used to produce 9,800 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance $enter a dollar amount select an option Neither favorable nor unfavorableUnfavorableFavorable Materials price variance...
Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below....
Rogen Corporation manufactures a single product. The standard
cost per unit of product is shown below.
Direct materials—1 pound plastic at $6 per pound
$ 6.00
Direct labor—1.50 hours at $12.20 per hour
18.30
Variable manufacturing overhead
9.00
Fixed manufacturing overhead
15.00
Total standard cost per unit
$48.30
The predetermined manufacturing overhead rate is $16 per direct
labor hour ($24.00 ÷ 1.50). It was computed from a master
manufacturing overhead budget based on normal production of 8,700
direct labor hours...
Ceelo Company purchased (at a cost of $22,050) and used 3,500 pounds of materials during May. Ceelo's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $6.50 per pound. Production in May was 1,670 units. (a) Compute the total, price, and quantity variances for materials. (Round answers to 0 decimal places, e.g. 125.) Total Materials Variance ta Materials Price Variance ta Materials Quantity Variance $
Current Attempt in Progress Ceelo Company purchased (at a cost of $10,560) and used 2,200 pounds of materials during May. Ceelo's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $5.00 per pound. Production in May was 1,040 units. Compute the total, price, and quantity variances for materials. (Round answers to decimal places, e.g. 125.) Total Materials Variance $ Materials Price Variance Materials Quantity Variance $
The standard cost of Product B manufactured by Flint Company
includes 3.90 units of direct materials at $5.60 per unit. During
June, 26,700 units of direct materials are purchased at a cost of
$5.45 per unit, and 26,700 units of direct materials are used to
produce 6,800 units of Product B.
Compute the total materials variance and the price and quantity
variances.
Total materials variance
$
Neither favorable nor unfavorableUnfavorableFavorable
Materials price variance
$
UnfavorableFavorableNeither favorable nor unfavorable
Materials quantity...
Whispering Corporation manufactures a single product. The
standard cost per unit of product is shown below.
Direct materials—1 pound plastic at $7.00 per pound
$ 7.00
Direct labor—2.5 hours at $11.80 per hour
29.50
Variable manufacturing overhead
17.50
Fixed manufacturing overhead
17.50
Total standard cost per unit
$71.50
The predetermined manufacturing overhead rate is $14.00 per direct
labor hour ($35.00 ÷ 2.5). It was computed from a master
manufacturing overhead budget based on normal production of 13,250
direct labor hours...
Rogen Corporation manufactures a single product. The standard
cost per unit of product is shown below.
Direct materials—1 pound plastic at $6 per pound
$ 6.00
Direct labor—1.50 hours at $12.20 per hour
18.30
Variable manufacturing overhead
9.00
Fixed manufacturing overhead
15.00
Total standard cost per unit
$48.30
The predetermined manufacturing overhead rate is $16 per direct
labor hour ($24.00 ÷ 1.50). It was computed from a master
manufacturing overhead budget based on normal production of 8,700
direct labor hours...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago