Costless Corporation produces only one product. The standard material cost for that product is 6 gallons at $11.50 per gallon. During August, the company made 9,400 units of product and used 25,750 gallons. The actual price for materials was $10.50 per gallon. Which of the following is true?     The materials quantity variance is $378,225 unfavorable.   The materials quantity variance is $352,475 favorable.   The materials quantity variance is $25,750 unfavorable.   The materials quantity variance is $378,225 favorable.

Q: Reef Industries produces almond milk and uses a standard cost accounting system. A unit of finished…

A: Solution: Actual cost Almond purchased and used = $148,900 Price variance = $3,750 Favorable…

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A:

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Q: Domose Inc. planned to use $150 of material per unit but actually used $147 of material per unit,…

A: Given, Planned Price = $150 Actual price = $147 Planned unit = 1,100 unit Actual unit = 900 unit

Q: How would i solve this problem

A: Standard costs are usually associated with a manufacturing company's costs of direct material,…

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Q: The materials price variance for January is:

A: Material price variance is the difference between the actual and budgeted cost to acquire materials,…

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A: Variance is difference between standard material cost and actual material cost.

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A: Step 1: Direct Labor Efficiency Variance occurred due to differences in the direct labor hours used…

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A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

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A: The variance is the difference between the standard and actual cost data. The variance can be…

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Q: want answer of this quetion

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A:

Q: Myers Corporation has the following data related to direct materials costs for November: actual…

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A:

Q: The standard direct material cost per unit for Willis Group was $152 (= $38 per gallon × 4 gallons…

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Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.