Do fast answer of this accounting questions Brighton Manufacturing produces tennis balls. Standard directmaterials quantity is 0.3 pounds of rubber per ball at $3.50 per pound.Actual production of 45,000 balls used 0.32 pounds per ball at $3.45per pound. Calculate the direct materials price and quantity variances.

To calculate the direct materials price and quantity variances, we will use the following formulas:…

Answered: Brighton Manufacturing produces tennis…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 5PA: Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but...

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Assume the following: The actual price per pound is $2.25. The standard quantity of pounds allowed per unit of finished goods is 4 pounds. The actual quantity of materials purchased and used in production is 50,000 pounds. The materials price variance is $12,500 U. The materials quantity variance is $4,000 F. What is the total number of units produced (finished goods) during the period?
BatCo makes metal baseball bats. Each bat requires 1 kg of aluminum at $20 per kg and 0.35 direct labor hours at $22 per hour. Overhead is assigned at the rate of $32 per direct labor hour. Assume the actual cost to manufacture one metal hat was $44.90. Compute the cost variance and classify it as favorable or unfavorable.
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
Dog Bone Bakery, which bakes dog treats, makes a special biscuit for dogs. Each biscuit uses 0.75 cup of pure semolina flour. They buy 4,000 cups of flour at $0.55 per cup. They use 3,550 cups of flour to make 4,750 biscuits. The standard cost per cup of flour is $0.53. A. What are the direct materials price variance, the direct materials quantity variances, and the total direct materials cost variance? B. What is the standard cost per biscuit for the semolina flour?
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Direct materials information Standard pounds per unit..... Standard price per pound... Actual quantity purchased and used per unit ...... Actual price paid for material per pound.. Direct materials price variance..... Direct materials quantity variance.... Total direct material variance.. Number of units produced Medium speed Large speed bump bump $ $ 15 1.00 $ ? 1.80 $ $1,120 U 100 F ? 100 ? 1.80 16 2.10 $1,920 U ? $480 U 400
Last month, Brentwood Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. (Click the icon to view the table.) Complete the following table. (Round your answers to two decimal places.) Direct materials information Standard pounds per unit Standard price per pound Actual quantity purchased and used per unit Actual price paid for material per pound Direct materials price variance Direct materials quantity variance Total direct material variance Number of units produced $ $ $ $ Medium speed bump $ 12 1.00 10 1.50 2,000 U 800 F 1,200 400 U $ $ $ Large speed bump $ C $ 1.60 14 2.30 4,900 U 2,400 F 2,500 U 500
Acme Inc. has the following information available: Actual price paid for material $1.000 Standard price for material $0.730 Actual quantity purchased and used in production 100 Standard quantity for units produced 80 Actual labor rate per hour $16 Standard labor rate per hour $14 Actual hours 200 Standard hours for units produced 230 Compute the material price and quantity, and the labor rate and efficiency variances. Round your answers to two decimal places. Enter all amounts as positive numbers. Material price variance Material quantity variance Labor rate variance $ Labor efficiency variance $ Favorable Unfavorable
It is estimated that a product requires 50 units of material at the rate of $3 per unit. The actual consumption of material for manufacturing the same product came to 60 units at the rate of $2.9 per unit. Calculate 1. Material cost variance 2. Material price variance 3. Material usage variance
Last month, Bugsby Corporation purchased and used the same quantity of material in producing its product, speed bumps for traffic control. FE(Click the icon to view the table.) Complete the following table. (Round your answers to two decimal places.) Direct materials information Standard pounds per unit Standard price per pound Actual quantity purchased and used per unit Actual price paid for material per pound Direct materials price variance Direct materials quantity variance Total direct material variance Number of units produced $ $ $ $ Medium speed bump 10 1.00 1.80 1.280 U 400 F 200 S speed bump $ $ $ Large 1.50 12 2.30 2,880 U 2,430 U 300 Data table Direct materials information Standard pounds per unit. Standard price per pound.. Actual quantity purchased and used per unit Actual price paid for material per pound.. Direct materials price variance.. Direct materials quantity variance. Total direct material variance.. Number of units produced Print Medium speed Large speed bump…
A company reports the following for one of its products. Direct materials standard (4 pounds @ $3 per pound) Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used i $. 12 per unit 350,000 pounds 70,000 units Actual Cost $ 910,000 AQ=Actual Quantity SQ=Standard Quantity AP Actual Price SP = Standard Price Compute the direct materials price and quantity variances and identify each as favorable or unfavorable. Standard Cost

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Brighton Manufacturing produces tennis balls. Standard direct materials quantity is 0.3 pounds of rubber per ball at $3.50 per pound. Actual production of 45,000 balls used 0.32 pounds per ball at $3.45 per pound. Calculate the direct materials price and quantity variances.