An unfavorable materials quantity variance occurs when the actual quantity used in production is less than...
An unfavorable materials quantity variance occurs when the actual quantity used in production is less than the standard quantity allowed for the actual output of the period. True or False
Homework Answers
The correct answer is False.
Note :
An unfavorable materials quantity variance occurs when the actual quantity used in production is more than the standard quantity allowed for the actual output of the period.
The unfavorable materials quantity variance is computed as :
(Actual Quantity - Standard Quantity) * Standard Rate
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An unfavorable materials quantity variance occurs when the actual quantity used in production is less than...
If the actual price paid for the quantity of materials purchased is less than the actual...
If the actual price paid for the quantity of materials purchased is less than the actual quantity purchased times the standard price, then: Question 2 options: The materials efficiency variance will be unfavorable. The materials price variance will be favorable. The materials price variance will be unfavorable. The materials efficiency variance will be favorable.
10. When is the material quantity variance favorable? when the actual quantity used is greater than...
10. When is the material quantity variance favorable? when the actual quantity used is greater than the standard quantity when the actual quantity used is less than the standard quantity when the actual price paid is greater than the standard price when the actual price is less than the standard price 12. What are some possible reasons for a labor rate variance? hiring of less qualified workers an excess of material usage material price increase utilities usage change 14. When...
Explanation not necessary When is the direct labor time variance favorable? A. when the actual quantity used is les...
Explanation not necessary When is the direct labor time variance favorable? A. when the actual quantity used is less than the standard quantity B. when the actual quantity used is greater than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price A flexible budget A. gives actual figures for selling price B. gives actual figures for variable and fixed overhead C. is not...
Favorable or Unfavorable? If production volume is greater than expected - Fixed overhead has been over-allocated...
Favorable or Unfavorable? If production volume is greater than expected - Fixed overhead has been over-allocated - therefore the fixed overhead volume variance is ___________. If production volume is less than expected - fixed overhead has been under allocated - therefore the fixed overhead volume variance is ___________. Rule of thumb: When production volume is higher than expected, fixed overhead volume variance will be ___________. When production is lower than expected the variance will be ___________. The direct materials price...
1) 2) 3) 4) 5) A favorable cost variance occurs when Oa. actual costs are the...
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2)
3)
4)
5)
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...
For purposes of the calculation for the direct materials price variance, when the quantity of materials...
For purposes of the calculation for the direct materials price variance, when the quantity of materials purchased and used are different, which quantity of materials is relevant? Standard quantity allowed Actual quantity used Actual quantity purchased The lower of the standard quantity allowed or actual quantity purchased
The sales-mix variance will be unfavorable when which of the following occurs? A) the actual sales...
The sales-mix variance will be unfavorable when which of the following occurs? A) the actual sales mix shifts toward the less profitable units B) the contribution margin per composite unit for the actual mix is greater than the budgeted mix C) the actual unit sales are less than the budgeted unit sales D) the actual contribution margin is less than the static-budget contribution margin
10 Direct materials Standard per unit Actual $ 4 per pound Used 15 Materials quantity variance...
10 Direct materials Standard per unit Actual $ 4 per pound Used 15 Materials quantity variance $ 3 2 pounds pounds Produced 10 finished units (AQ used - SQ allowed) SP A B C D 15 20 39 78 2 pt Variance is A favorable B unfavorable SQ allowed Standard per unit actual units 11 FACTORY OVERHEAD Machine Hours Budgeted $50 Standard allowed 16 Actual 180 Actual Variable factory overhead (activity base) rate per machine hour $10 Efficiency variance 10...
a. compute the materials quantity variance.
sakelaris corporation makes a product with the following standard costs:standard quantity or hours standard price or ratedirect materials 8.6 kilos $6.00 per kilodirect labor 0.4 hours $11.00 per hourvariable overhead 0.4 hours $5.00 per hourthe company reported the following results concerning this product in august.actual output 8,400 unitsraw materials used in production 71,750 kilospurchases of raw materials 76,900 kilosactual direct labor-hours 3,320 hoursactual cost of raw materials purchases $469,090actual direct labor cost $35,524actual variable overhead cost $17,928the company applies...
The following company information is available. The direct materials quantity variance is: Direct materials used for...
The following company information is available. The direct materials quantity variance is: Direct materials used for prodution Standard quantity for units produced Standard cost per gallon of direct material Actual cost per gallon of direct material 35,000 gallons 33,400 gallons $11.00 $11.20 Multiple Choice $17600 unfavorable. $17200 favorable $24,600 unfavorable Multiple Choice $17,600 unfavorable. $17.200 favorable. $24,600 unfavorable. $24,600 favorable. $17,200 unfavorable Use the following data to find the direct labor rate variance if the company produced 3,500 units during...
Explanation not necessary When is the direct labor time variance favorable? A. when the actual quantity used is less than the standard quantity B. when the actual quantity used is greater than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price A flexible budget A. gives actual figures for selling price B. gives actual figures for variable and fixed overhead C. is not...
1)
2)
3)
4)
5)
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...
10 Direct materials Standard per unit Actual $ 4 per pound Used 15 Materials quantity variance $ 3 2 pounds pounds Produced 10 finished units (AQ used - SQ allowed) SP A B C D 15 20 39 78 2 pt Variance is A favorable B unfavorable SQ allowed Standard per unit actual units 11 FACTORY OVERHEAD Machine Hours Budgeted $50 Standard allowed 16 Actual 180 Actual Variable factory overhead (activity base) rate per machine hour $10 Efficiency variance 10...
The following company information is available. The direct materials quantity variance is: Direct materials used for prodution Standard quantity for units produced Standard cost per gallon of direct material Actual cost per gallon of direct material 35,000 gallons 33,400 gallons $11.00 $11.20 Multiple Choice $17600 unfavorable. $17200 favorable $24,600 unfavorable Multiple Choice $17,600 unfavorable. $17.200 favorable. $24,600 unfavorable. $24,600 favorable. $17,200 unfavorable Use the following data to find the direct labor rate variance if the company produced 3,500 units during...
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