4. What is the materials quantity variance for March? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values. Materials quantity variance 5. If Preble had purchased 188,000 pounds of materials at $720 per pound and used 170,000 pounds in production, what would be the materials price variance for March? Note: Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values. Materials price variance
4. What is the materials quantity variance for March? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values. Materials quantity variance 5. If Preble had purchased 188,000 pounds of materials at $720 per pound and used 170,000 pounds in production, what would be the materials price variance for March? Note: Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values. Materials price variance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:4. What is the materials quantity variance for March?
Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero
variance.). Input all amounts as positive values.
Materials quantity variance
5. If Preble had purchased 188,000 pounds of materials at $720 per pound and used 170,000 pounds in production, what would be
the materials price variance for March?
Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero
variance.). Input all amounts as positive values.
Materials price variance
![Required information
[The following information applies to the questions displayed below]
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct
labor-hours and its standard cost card per unit is as follows
Direct materials: 6 pounds at 58 per pound
Direct labor: 4 hours at $13 per hour
Varlable overhead: 4 hours at $5 per hour
Total standard cost per unit
$48
52
20
130
The planning budget for March was based on producing and sellino 20,000 units. However, during March the company
actually produced and sold 25.500 units and incurred the following costs
Purchased 170.000 pounds of raw materials at a cost of $7.20 per bounc All of this material was used in production
b Direct laborers worked 73.000 hours at a rate of $14 pecnout
c Total variable manufacturing overhead for the month was $427050](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F06174a5f-1ae0-4747-83e5-13d438086e19%2F0c090a96-c1a8-42e3-8b69-82ff05afe3bc%2Fdd4fbhb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below]
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct
labor-hours and its standard cost card per unit is as follows
Direct materials: 6 pounds at 58 per pound
Direct labor: 4 hours at $13 per hour
Varlable overhead: 4 hours at $5 per hour
Total standard cost per unit
$48
52
20
130
The planning budget for March was based on producing and sellino 20,000 units. However, during March the company
actually produced and sold 25.500 units and incurred the following costs
Purchased 170.000 pounds of raw materials at a cost of $7.20 per bounc All of this material was used in production
b Direct laborers worked 73.000 hours at a rate of $14 pecnout
c Total variable manufacturing overhead for the month was $427050
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