Bonny Apparel Company has the following standards to manufacture one suit: Standard Quantity Standard Price Direct Materials 5 yards per unit Direct Labor $8.75 per yard 2.5 hours per unit $13 per hour The company used 15,500 yards of material to manufacture 3,200 suits in May. The direct materials quantity variance is: a. $4.375 favorable. b. $6,500 unfavorable. c. $10,500 favorable. d. $6,125 favorable.

Bonny Apparel Company has the following standards to manufacture one suit: Standard Quantity Standard Price Direct Materials 5 yards per unit Direct Labor $8.75 per yard 2.5 hours per unit $13 per hour The company used 15,500 yards of material to manufacture 3,200 suits in May. The direct materials quantity variance is: a. $4.375 favorable. b. $6,500 unfavorable. c. $10,500 favorable. d. $6,125 favorable.

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...

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Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 40,000 units of product were as follows: Each unit requires 0.3 hour of direct labor. Instructions Determine (A) the direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (B) the direct labor rate variance, direct labor time variance, and total direct labor cost variance; and (C) the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance.
Larry's Woodworks has collected the following data for its cutting board line of products: K Direct materials standard Direct materials standard cost Actual Direct Materials Used (AQU) Actual finished goods purchased What is the direct materials quantity variance? 10 pounds per unit $0.54 per pound 40,000 pounds 4,100 units OA. $17,860 unfavorable OB. $17,860 favorable OC. $540 unfavorable OD. $540 favorable
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Print Item Acme Inc. has the following information available: Actual price paid for material $1.00 Standard price for material $1.10 90 Actual quantity purchased and used in production 110 Standard quantity for units produced Actual labor rate per hour $15 Standard labor rate per hour $16 Actual hours 200 230 Standard hours for units produced A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all amounts as positive numbers. Material price variance Material quantity variance Labor rate variance Labor efficiency variance 2$ B. What are some possible causes for this combination of favorable and unfavorable variances?
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