Alpine Industries purchased 92,000 kilograms of material for $496,800. The standard cost is $5.60 per kilogram. During the period, Alpine produced 30,600 units, with each unit requiring a standard of 3 kilograms of material. Actual usage was 89,500 kilograms. What is the materials purchase price variance?
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- A total of 6,850 kg of a raw material was purchased at a total cost of P21,920. The material price variance was P1,370 favorable. The standard price per kg for the raw material must be?What is the material price variance on these general accounting question?A total of 6,850 kilograms of a raw material was purchased at a total cost of $21,920. The materials price variance was $1,370 favorable. The standard price per kilogram for the raw material must be:
- The actual cost of direct materials is $48.25 per pound, while the standard cost per pound is $50.75. During the current period, 4,800 pounds were used in production. What is the direct materials price variance?1. A quantity of a particular raw material was purchased for $43,250. The standard cost of the material was $2.00 per kilogram and there was an unfavorable materials price variance of $3,250. How many kilograms were purchased? 2. The standard direct material cost to produce a unit of Lem is 4 meters of material at $2.50 per meter. During May of the current year, 4,200 meters of material costing $10,080 were purchased and used to produce 1,000 units of Lem. What was the material price variance for May?Sheffield Enterprises purchased 54,000 gallons of direct materials during the year at a price of $2.00 per gallon. Sheffield's direct materials price variance was $4,320 Favorable. Calculate the standard price per gallon of direct materials. (Round answer to 2 decimal places, e.g. 15.25.) Standard price $ /gal
- Sheffield Enterprises purchased 54,000 gallons of direct materials during the year at a price of $2.00 per gallon. Sheffield's direct materials price variance was $4,320 Favorable. Calculate the standard price per gallon of direct materials. (Round answer to 2 decimal places, e.g. 15.25.) Standard price $ eTextbook and Media /galThe standard and actual prices per pound of raw material are $4.00 and $4.50,respectively. A total of 10,500 pounds of raw material was purchased and then usedto produce 5,000 units. The quantity standard allows two pounds of the raw materialper unit produced. What is the materials quantity variance?a. $5,000 unfavorableb. $5,000 favorablec. $2,000 favorabled. $2,000 unfavorableIn a period, 11,280 kg of material were used and should have cost (according to the standard cost card) £46,248. The material usage variance was £492 A. How much material should the company have used in its production, according to the standard? A) 10,788 kg B) 11,160 kg C) 11,280 kg D) 11,400 kg
- Quick answer of this accounting questionsA company uses 20,000 pounds of materials for which it paid P6.00 a pound. The materials price variance was P30,000 unfavorable. What is the standard price per pound?Buzz Company uses 40,000 gallons of materials for which they paid P7.00 a gallon. The materials price variance was P80,000 favorable. What is the standard price per gallon? A. 2.00 B. 5.00 C. 7.00 D. 9.00