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A dress company has the following standards to make one dress: Standard Quality Direct materials 3 yards per unit Direct labor Standard Price $6.50 per yard 1.5 hours per unit M $8.00 per hour The company used 8,000 yards of material in order to make 2,500 dresses in April. The direct materials quantity variance is During November, 10,000 units were produced. The standard quantity of material allowed per unit was 10 pounds at a standard cost of $3 per pound. If there was an unfavorable usage variance of $18,750 for November, what amount must be the actual quantity of materials used? The standard material cost for vinyl use per table is $7.80 based on 6 square feet of vinyl at a cost of $1.30 per square foot. A production run of 1,000 in January resulted in usage of 6,400 square feet of vinyl at a cost of $1.20 per square foot, a total cost of $7,689. What is the quantity variance resulting from the above production run?

A dress company has the following standards to make one dress: Standard Quality Direct materials 3 yards per unit Direct labor Standard Price $6.50 per yard 1.5 hours per unit M $8.00 per hour The company used 8,000 yards of material in order to make 2,500 dresses in April. The direct materials quantity variance is During November, 10,000 units were produced. The standard quantity of material allowed per unit was 10 pounds at a standard cost of $3 per pound. If there was an unfavorable usage variance of $18,750 for November, what amount must be the actual quantity of materials used? The standard material cost for vinyl use per table is $7.80 based on 6 square feet of vinyl at a cost of $1.30 per square foot. A production run of 1,000 in January resulted in usage of 6,400 square feet of vinyl at a cost of $1.20 per square foot, a total cost of $7,689. What is the quantity variance resulting from the above production run?

FINANCIAL ACCOUNTING
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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A dress company has the following standards to make one dress: Standard Quality Direct materials 3 yards per unit Direct labor Standard Price $6.50 per yard 1.5 hours per unit M $8.00 per hour The company used 8,000 yards of material in order to make 2,500 dresses in April. The direct materials quantity variance is During November, 10,000 units were produced. The standard quantity of material allowed per unit was 10 pounds at a standard cost of $3 per pound. If there was an unfavorable usage variance of $18,750 for November, what amount must be the actual quantity of materials used? The standard material cost for vinyl use per table is $7.80 based on 6 square feet of vinyl at a cost of $1.30 per square foot. A production run of 1,000 in January resulted in usage of 6,400 square feet of vinyl at a cost of $1.20 per square foot, a total cost of $7,689. What is the quantity variance resulting from the above production run?
Transcribed Image Text:A dress company has the following standards to make one dress: Standard Quality Direct materials 3 yards per unit Direct labor Standard Price $6.50 per yard 1.5 hours per unit M $8.00 per hour The company used 8,000 yards of material in order to make 2,500 dresses in April. The direct materials quantity variance is During November, 10,000 units were produced. The standard quantity of material allowed per unit was 10 pounds at a standard cost of $3 per pound. If there was an unfavorable usage variance of $18,750 for November, what amount must be the actual quantity of materials used? The standard material cost for vinyl use per table is $7.80 based on 6 square feet of vinyl at a cost of $1.30 per square foot. A production run of 1,000 in January resulted in usage of 6,400 square feet of vinyl at a cost of $1.20 per square foot, a total cost of $7,689. What is the quantity variance resulting from the above production run?
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