A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 6 pounds @ $7 per pound 2 DLH @ $17 per DLH 2 DLH @ $11 per DLH Actual Results 49,800 pounds @ $7.10 per pound 16,100 hours @ $17.50 per hour $ 185,500 8,200 units Compute the (1) direct materials price variance and (2) direct materials quantity variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP=Standard Price Actual Cost $ 0 0 0 $ 0 Standard Cost
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 6 pounds @ $7 per pound 2 DLH @ $17 per DLH 2 DLH @ $11 per DLH Actual Results 49,800 pounds @ $7.10 per pound 16,100 hours @ $17.50 per hour $ 185,500 8,200 units Compute the (1) direct materials price variance and (2) direct materials quantity variance. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP=Standard Price Actual Cost $ 0 0 0 $ 0 Standard Cost
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 3PA: Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes...
Related questions
Question
![A manufactured product has the following information for June.
Direct materials
Direct labor
Overhead
Units manufactured
Standard Quantity and Cost
6 pounds @ $7 per pound
2 DLH @ $17 per DLH
2 DLH @ $11 per DLH
Actual Results
49,800 pounds @ $7.10 per pound
16,100 hours @ $17.50 per hour
$ 185,500
8,200 units
Compute the
(1) direct materials price variance and
(2) direct materials quantity variance.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2
decimal places.
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP=Standard Price
Actual Cost
$
0
0
0
$
0
Standard Cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F01372ca0-9149-430c-ad04-b499f2c5ead5%2F0d91ddf2-5121-4a69-9f69-3305f4eeadab%2Fwxbecqv_processed.png&w=3840&q=75)
Transcribed Image Text:A manufactured product has the following information for June.
Direct materials
Direct labor
Overhead
Units manufactured
Standard Quantity and Cost
6 pounds @ $7 per pound
2 DLH @ $17 per DLH
2 DLH @ $11 per DLH
Actual Results
49,800 pounds @ $7.10 per pound
16,100 hours @ $17.50 per hour
$ 185,500
8,200 units
Compute the
(1) direct materials price variance and
(2) direct materials quantity variance.
Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2
decimal places.
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP=Standard Price
Actual Cost
$
0
0
0
$
0
Standard Cost
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