AutoZone produces brake pads using a standard cost system. Each break pad requires a standard quantity of 6 components, and the standard cost is $8 per component. In April, AutoZone produced 8,900 brake pads, and 65,900 components were purchased and used at the total cost of $523,500. Two requirements: a. Compute the direct materials price variance. b. Compute the direct materials quantity variance. a. Compute the direct materials price variance. (Do not round your intermediate calculations. Indicate "Favorable", "Unfavorable", or "None" for no effect (I.e., zero variance).) Price Variance b. Compute the direct materials quantity variance. (Do not round your intermediate calculations. Indicate "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance)-). Quantity Variance

AutoZone produces brake pads using a standard cost system. Each break pad requires a standard quantity of 6 components, and the standard cost is $8 per component. In April, AutoZone produced 8,900 brake pads, and 65,900 components were purchased and used at the total cost of $523,500. Two requirements: a. Compute the direct materials price variance. b. Compute the direct materials quantity variance. a. Compute the direct materials price variance. (Do not round your intermediate calculations. Indicate "Favorable", "Unfavorable", or "None" for no effect (I.e., zero variance).) Price Variance b. Compute the direct materials quantity variance. (Do not round your intermediate calculations. Indicate "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance)-). Quantity Variance

Name: Question 1- Quiz 7- ConnectYouTubeSavedHelpAutoZone produces brake pa
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Question 1- Quiz 7- ConnectYouTubeSavedHelpAutoZone produces brake pads using a standard cost system. Each break pad requires a standard quantity of 6 components, and thestandard cost is $8 per component. In April, AutoZone produced 8,900 brake pads

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Hart Company...
See attached image Required:Calculate Parker Plastic’s direct materials price and quantity variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
Starts Inc. produces a product for which the standard specifies 8 yards of material per unit. The standard price of one yard of material is $8.50. During the month, 7,400 products were manufactured, using 57,900 yards at a cost of $8.30 per yard. Determine the (a) direct materials price variance, (b) direct materials quantity variance, and (c) total direct materials cost variance. (d) perform the journal entries to record the variances
help with material quantities variance. thanks
Rose Ltd is a manufacturing company that uses standard costing and varianceanalysis to control its costs. It sets the following standards for each unit of itsproduct produced. Direct Materials 2 kg at $2 per kgDirect Labour 1.5 hours at $14 per hour During the period, 4,000 units were actually produced, incurring the followingcosts: Direct Material 7,600kg at a total cost of $14,440Direct Labour 8,000 hours at a total cost of $111,200 a. Calculate the following variances:i. Direct Materials Price Variance ii. Direct Materials Usage Variance iii. Direct Labour Efficiency Variance iv. Direct Labour Rate Variance
please help and explain as well
Woody Company produces a product that requires 2 standard gallons per unit. The standard price is $20 per gallon. If 4,000 units required 8,200 gallons which were purchased at $19.75 per gallon, what is the direct materials: A. price variance B. quantity variance C. cost variance
Tip Top Corp. produces a product that requires nine standard gallons per unit. The standard price is $8.5 per gallon. If 4,600 units required 42,200 gallons, which were purchased at $8.07 per gallon, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance?
XYZ company produces a unit where delivery of its units to customers are related with all of the overheads.Computer expenditure and efficiency variance-ABC method. Budget: Overheads=4,000 Output =2,000 units Deliveries=20 Actual: Overheads =3,900 Output =2,100 units Deliveries to customers =19