--/1Question 6View PoliciesCurrent Attempt in ProgressCrane Company has a materials price standard of $2.00 perpound. 4000 pounds of materials were purchased at $2.20a pound. The actual quantity of materials used was 4000pounds, although the standard quantity allowed for theoutput was 3400 pounds.ortS.Crane Company's materials price variance isO $120 U.O $680 U.O $800 U.O $800 F.hp110fg144f8f617f500II96

Calculation of material price variance:

Answered: --/1 Question 6 View Policies Current…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please do not give solution in image format thanku
Give me correct answer with explanation s
find materials price variance
None
9q-20
What is the cost price variance? A. 8,000U B. 6,000F C. 9,000U D. 7,500U
Answer
--/1 Question 16 View Policies Current Attempt in Progress Clark Company manufactures a product with a standard direct labor cost of two hours at $18 per hour. During July, 1400 units were produced using 3200 hours at $18.30 per hour. The labor quantity variance was port O $7320 U. O $7320 F. O $7200 U. O $6480 U. hp ins fiu f10 prt s fg f7 f8 f6 f5 +. & 96. 80 7 %D Y н TO 96
Question Grant Company's standard materials cost per unit of output is $10.00 (2.00 pounds x $5.00 per pound). During July, the company purchases and uses 2,420 pounds of materials costing $12,826 in making 1,100 units of finished product. Compute the total material variance. O $726 unfavorable O $1,826 favorable O $2,926 unfavorable O $1,826 unfavorable
TB Problem 07-171 Tullius Corporation has received a request... Tullius Corporation has received a request for a special order of 8,300 units of product C64 for $45.20 each. The normal selling price of this product is $50.30 each, but the units would need to be modified slightly for the customer. The normal unit product cost of product C64 is computed as follows: Direct materials $ 16.00 Direct labor 5.30 Variable manufacturing overhead 2.50 Fixed manufacturing overhead 5.40 Unit product cost $ 29.20 Direct labor is a variable cost. The special order would have no effect on the company's total fixed manufacturing overhead costs. The customer would like some modifications made to product C64 that would increase the variable costs by $4.90 per unit and that would require a one-time investment of $44,700 in special molds that would have no salvage value. This special order would have no effect on the company's other sales. The company…
#21 ToolTime has a standard of 2 hours of labor per unit, at P12 per hour. In producing 2,000 units, ToolTime used 3,850 hours of labor at a total cost of P46,970. ToolTime’s labor price variance is Group of answer choices P770 U. P800 U. P1,030 F. P1,930 F. 22. ToolTime has a standard of 2 hours of labor per unit, at P12 per hour. In producing 2,000 units, ToolTime used 3,850 hours of labor at a total cost of P46,970. ToolTime’s labor quantity variance is Group of answer choices P770 U. P1,030 F. P1,800 F. P1,930 F.
Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] BatCo makes baseball bats. Each bat requires 1.00 pounds of wood at $16 per pound and 0.30 direct labor hour at $20 per hour. Overhead is assigned at the rate of $40 per direct labor hour. QS 21-6 (Algo) Total Cost variances LO P2 Assume the actual cost to manufacture 150 bats is $5,850.00. Compute the total cost variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Actual cost Budgeted standard cost Total cost variance $ 0 Next > raw be here to search < Prev S 5 P of 10 W

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