A furniture company uses sunmica tops for tables. It provides the following data: Standard quantity for sunmica per table 4 sq. ft Standard price per sq. ft of sunmica Actual period of tables Sunmica actually used Actual purchase price per sq. ft Calculate the material variances. AED 5 1,000 4,300 sq. ft AED 5.50

A furniture company uses sunmica tops for tables. It provides the following data: Standard quantity for sunmica per table 4 sq. ft Standard price per sq. ft of sunmica Actual period of tables Sunmica actually used Actual purchase price per sq. ft Calculate the material variances. AED 5 1,000 4,300 sq. ft AED 5.50

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter18: Pricing And Profitability Analysis

Section: Chapter Questions

Problem 32P: Sulert, Inc., produces and sells gel-filled ice packs. Sulerts performance report for April follows:...

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Sunny Corporation has collected the following data for one of its products: Direct materials standard (3 pounds per unit @ $0.40/lb.) Actual direct materials purchased Actual Direct Materials Used (AQU) Actual Price (AP) paid per pound How much is the direct materials price variance? O A. $1,610 unfavorable B. $2,240 favorable C. $1,610 favorable O D. $2,240 unfavorable $1.20 per finished good 32,000 pounds 23,000 pounds $0.47
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Compute for the following and indicate if its FAVORABLE or UNFAVORABLE Format: 11,111 F or 11,111 U 1. Cost price variance = 2. Cost volume variance= 3. Total gross profit variance=
Rayan Ltd has provided the following information:Quantity (kg) Unit Rate (Rs.) Total (Rs.)StandardMaterial X 10 2 20Material Y 20 3 60Material Z 20 6 120Total 50 200ActualMaterial X 5 3 15Material Y 10 6 60Material Z 15 5 75Total 30 150You are required to compute the following and interpret the result:a) Material cost varianceb) Material price variancec) Material usage variance Do not give answer in image
Tokan company has the following information concerning it's direct material need answer this question
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Brooks Company uses a standaed conting nystem. The following information pertains to direct materials for the month of June: Standard price per h Actual purchase price per h. Quanity punchased Quaity used Sandard quantity allowed for actual output Actual output SI5.00 S14.50 3,150 be. 2,980 he. 3,000 he. 1,000 unita Brooks Company reports its material price variances at the time of purchase. What is the journal entry to recond material purchases? O Materials 47,250 Materials Price Variance 1,575 Accounta Payable 45,675 O Materials 47,165 Materials Price Variance 1,490 Accounts Payable 45,675 OMateriala 47,175 Materials Price Variance 1,500 Accounts Payable 45,675 O Materials 44,100 Materials Price Variance 1,575 Accounts Payable 45,675
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eBook Show Me How Print Item Direct Materials Variances The following data relate to the direct materials cost for the production of 1,800 automobile tires: Actual: 53,600 lb. at $2.00 Standard: 52,500 lb. at $2.05 a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Price variance $fill in the blank 1 Quantity variance $fill in the blank 3 Total direct materials cost variance $fill in the blank 5 b. The direct materials price variance should normally be reported to the . If lower amounts of direct materials had been used because of production efficiencies, the variance would be reported to the . If the favorable use of raw materials had been caused by the purchase of higher-quality raw materials, the variance should be reported to the