520 unfavorable
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Grace Company manufactures tables with glass tops. The
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- Home Company manufactures tables with vinyl tops. The standard material cost for the vinyl used per Type-R table is P7.80 based on six square feet of vinyl at a cost of P1.30 per square foot. A production run of 1,000 tables in January resulted in usage of 6,400 square feet of vinyl at a cost of P1.20 per square foot, at a total cost of P7,680. 15. The usage variance resulting from the above production run was a. P120 favorable b. P480 unfavorable c. P520 unfavorable d. P640 favorableOxford Company has a materials standard of 2.1 pounds per unit of output. Each pound has a standard price of $12 per pound. During February, Oxford Company paid $64,220 for 4,940 pounds at $13 per pound, which were used to produce 2,500 units of product. What is the direct materials price variance? Multiple Choice $2,600 favorable $5,040 favorable $2,500 unfavorableDuring June, Keating Company produced 11,000 rain ponchos using nylon. Nylon costed $0.80 per yard, which is $0.10 cheaper than the standard cost. It also used 6,000 direct labor hours at a rate of $13.00. Its direct materials standard is 2 yards p labor standard is 0.50 hour per poncho. Its materials usage variance was favorable $1,800, and its labor rate variance was a favorable $1,200. Required: Complete the following: (Round the rates to two decimal places.) A. The actual quantity of materials used is B. The standard labor rate is $ per hour.
- Shelley Company bought 3,000 pounds of materials for $2,850. They used 2,800 pounds to produce 1,000 units of output. Direct labor costs totaled $20,400 for 600 hours of work. Standards have been set as follows: Direct Materials: 2 pounds @ $1.10 per pound Direct Labor: .5 hours @ $32 per hour The labor efficiency variance is: O $1,200 favorable $1,200 unfavorable O $3,200 favorable O $3,200 unfavorable O $2,000 unfavorableClay makes all sorts of molds. Its standard quantity of material allowed is 1 foot of wood per 1 foot of mold at a standard price of $3.00 per foot. During August, it purchased 200,000 feet of wood at a cost of $2.00 per foot, which produced only 199,000 feet of mold. Calculate the materials price variance. $200,000 F $700,000 U $600,000 U $400,000 FThe Company designs and manufactures bathtubs for home and commercial applications. The Company recorded the following data for its commercial bathtub production line during the month of March: Standard DL hours per tub 5 Standard overhead rate per DL hour $6.00 Standard overhead cost per unit $30.00 Actual overhead costs $21,375 Actual DL hours 2850 Actual overhead cost per machine hour $7.50 Actual tubs produced 1500 What is the variable manufacturing overhead efficiency variance in March? $27,900 favorable $4275 unfavorable $27,900 unfavorable $4275 favorable
- Company XYZ uses a single raw material in its production process. The standard price for a unit of material is $2.00. During the month the company purchased and used 600 units of this material at a price of $2.25 per unit. The standard quantity required per finished product is 2 units and during the month, the company produced 310 finished units. How much was the material quantity variance? A. $40 favorable. B. $45 unfavorable. C. $45 favorable. D. $40 unfavorable.Vibrant Paints Co manufactures and sells paints. Business Unit A of the company makes a paint called Micra. Micra is made using three key materials: R, S and T. At the end of period 1, a total material cost variance of $4,900 adverse was correctly recorded for Micra. The following information relates to Micra for period 1: Material R S T Standard cost per litre ($) 63 O $800 adverse 50 45 Actual cost per litre ($) 62 51 48 Actual usage (litres) 1,900 2,800 1,300 The standard ratio of mixing material R, material S and material Tis 30:50:20. The material price variance for Micra has been correctly calculated as $4,800 adverse. What is the total material yield variance for Micra for period 17 O $900 adverse O $800 favourable O $700 favourableWham Berhad operates a standard costing system and analysis of variances is made every month. The standard cost card is as follows for a unit of product: RM Direct materials 0.5kg at RM 4/kg 2.00 Direct labour 2 hours at RM 2/hour 4.00 Variable overheads 2 hours at RM 0.30/hour 0.60 Fixed overhead 2 hours at RM 3.70/hour 7.40 Standard cost 14.00 Standard profit 6.00 Standard selling price 20.00 Budgeted output for the month of January 2021 was 5,100 units. Actual results were as follows: Production of 4,850 units were sold for RM95,600 Materials consumed in production amounted to 2,300 kgs at a total cost of RM9,800 Labour hours paid amounted to 8,500 hours at a cost of RM16,800 Actual hours worked amounted to…
- Edgar, Inc. has a materials price standard of $1.54 per pound. Six thousand pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 8,000 pounds, although the standard quantity allowed for the output was 5,400 pounds. Calculate the materials quantity variance.Waterway, Inc. makes high-quality swimsuits. During the year, the company produced 801 suits, using 966 yards of material, and the company purchased 860 yards of material for $4,751. The direct materials standard for the swimsuits allows 1.14 yards of material at a standard price of $6 per yard.Calculate Waterway’s direct materials quantity variance for the year. (If variance is zero, select "Not Applicable" and enter 0 for the amounts. Round answer to 0 decimal places, e.g. 15.) Direct material quantity variance $ UnfavorableFavorableNot ApplicableEdgar, Inc. has a materials price standard of $1.75 per pound. eight thousand pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 4,000 pounds, although the standard quantity allowed for the output was 5,400 pounds. Calculate the materials price variance
