Crane has a standard of 1.2 pounds of materials per unit, at $8 per pound. In producing 3500 units, Crane used 4300 pounds of materials at a total cost of $33705. Crane's total material variance is O $105 U. O $800 U. O $480 F. O $695 U.
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- Jameson Company produces paper towels. The company has established the following direct materials and direct labor standards for one case of paper towels: During the first quarter of the year, Jameson produced 45,000 cases of paper towels. The company purchased and used 135,700 pounds of paper pulp at 0.38 per pound. Actual direct labor used was 91,000 hours at 12.10 per hour. Required: 1. Calculate the direct materials price and usage variances. 2. Calculate the direct labor rate and efficiency variances. 3. Prepare the journal entries for the direct materials and direct labor variances. 4. Describe how flexible budgeting variances relate to the direct materials and direct labor variances computed in Requirements 1 and 2.Photo from Brahma KumarSwifty has a standard of 1.2 pounds of materials per unit, at $4 per pound. In producing 3000 units, Swifty used 3700 pounds of materials at a total cost of $14510. Swifty's total material variance is O $400 U. $110 U. $240 F. Ⓒ$290 U.
- Coronado has a standard of 1.4 pounds of materials per unit, at $7 per pound. In producing 4000 units, Coronado used 5700 pounds of materials at a total cost of $39330. Coronado's total material variance is O $130 U. O $570 U. O $700 U. O $490 F.The standard costs and actual costs for direct materials for the manufacture of 3,000 actual units of product are as follows: Standard CostsDirect materials 1,040 kilograms at $8.75 Actual CostsDirect materials 2,000 kilograms at $8.00 The direct materials price variance is a.$2,750 unfavorable b.$2,750 favorable c.$1,500 favorable d.$1,500 unfavorableTools-N-Time has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units, Tools-N-Time used 3,850 hours of labor at a total cost of $46,970. What is Tools-N-Time's total labor variance? a. $770 F b. $800 U b. $1,030 U d. $1,930 U
- Hardin Company has the following information available for the current year: Standard: Material 4.25 feet per unit @ P2.75 per foot Labor 7 direct labor hours @ P9.25 per unit Actual: Material 128,000 feet used (130,000 feet purchased @ P2.80 per foot) Labor 212,000 direct labor hours incurred @ P9.30 per hour 30,000 units were produced Required: 1. Compute the material purchase price and quantity variances. 2. Compute the labor rate and efficiency variances.Data for Product X of Uranus Company are as follows: Direct material standard: 3 square feet at $2.90 per square foot Direct material purchased: 30,000 square feet at $3.10 per square foot Direct material consumed: 28,800 square feet Manufacturing activity: 9,400 units completed The direct-material quantity variance is: O A. $1,740 U. B. $1,860 U. C. $3,550 F. O D. $1,860 F. E. $1,740 F.Gray Milling Company has the following information regarding direct materials: Actual pounds of direct materials purchased and used 47,000 Standard quantity of direct materials 2.5 pounds per finished good Actual production 20,000 finished goods Direct materials quantity variance $11,500 F Direct materials price variance $ 9,400 U What is Gray's actual price per pound of direct materials. Select one: a. $4.25/lb b. $3.70/lb c. $2.75/lb d. $3.83/lb e. $4.03/lb
- The standard cost card for product Alpha is as follows: £ Direct material 5kg@ £11.50 per kg 57.50 Direct Labour 4 labour hours @£9 per hour 36.00 93.50 In the period just ended 3,000 units were produced and costs were incurred as follows: Quantity Cost (£) Direct material 15900kg 180465 Direct labour 11550 hours 106260 286725 Required: Calculate the direct materials price variance for product Alpha. Calculate the direct labour rate variance for product Alpha. Explain the factors that need to be taken into account when deciding to investigate a variance.A company uses four hours of direct labor to produce a product unit. The standard direct labor cost is $20 per hour. This period the company produced 20,000 units and used 84,160 hours of direct labor at a total cost of $1,599,040. What is its labor rate variance for the period?Concord has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2600 units, Concord used 5050 hours of labor at a total cost of $61370. Concord's total labor variance is $1823 F. $1030 F. $1030 U. $500 U.