None Dillon has a standard of 1.5 pounds of materials per unit, at S6 per pound. Inproducing 2,000 units, Dillon used 3,100 pounds of materials at a total costof $18,1351. Dillon's material quantity variance is:a. $135 Fb. $465 Uc. $600 Ud. $1,050 U2. Dillon's total materials variance is:a. $450 Fb. $135 Uc. $465 Ud. $600 U3. Dillon's material price variance is:a. $135 Ub. $465 Fc. $600 Fd. $1,050 F

Given Data:Standard material usage per unit: 1.5 poundsStandard cost per pound: $6Actual production:…

Answered: Dillon has a standard of 1.5 pounds of…

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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Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but require different amounts. Standard materials for both are shown. At the beginning of the month, Edve Co. bought 25,000 feet of rubber for $6.875. The company made 3,000 large O rings and 4,000 small O rings. The company used 14,500 feet of rubber. A. What are the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance? B. If they bought 10,000 connectors costing $310, what would the direct materials price variance be for the connectors? C. If there was an unfavorable direct materials price variance of $125, how much did they pay per toot for the rubber?
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ToolTime has a standard of 1.5 pounds of materials per unit, at P4 per pound. In producing 2,000 units, ToolTime used 3,100 pounds of materials at a total cost of P12,090. 1. ToolTime’s total material variance is Group of answer choices P300 F. P90 U. P310 U. P400 U 2. ToolTime’s materials price variance is Group of answer choices P90 U. P310 F. P400 F. P700 F 3. ToolTime’s materials quantity variance is Group of answer choices P90 F. P310 U. P400 U. P700 U.
The following actual and standard cost data for direct material and direct labor relate to the production of 4,000 units of product: Actual Costs Standard Costs 4,900 lb. @ $5.85 5,000 lb. @ $5.90 2,000 hrs. @ $20.00 Direct Material Direct Labor 1,900 hrs. @ $20.50 Determine the labor efficiency variance. Select one: a. $2,000 F b. $2,000 U c. $2,050 F d. $2,050 U e. None of the above
The following actual and standard cost data for direct material and direct labor relate to the production of 4,000 units of product: Actual Costs Standard Costs Direct Material 6,200 lb. @ $3.90 6,000 lb. @ $4.00 Direct Labor 4,300 hrs. @ $14.70 4,000 hrs. @ $15.00 Determine the labor efficiency variance. Select one: a. $4,410 U b. $4,410 F c. $4,500 F d.$4,500 U e.None of the above
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.
Primary Co. has a standard materials price of $4.00 per pound and a standard direct labor rate of $18.00 per hour. Primary's actual direct materials price was $4.10 per pound and paid direct labor of $17.50 per hour. Assume an actual materials usage of 26,000 pounds and actual labor totaling 8,000 hours. A. Calculate the direct materials price variance. Indicate whether the variance is favorable or unfavorable. B. Calculate the direct labor rate variance. Indicate whether the variance is favorable or unfavorable.
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Swifty 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.
The following actual and standard cost data for direct material and direct labor relate to the production of 4,000 units of product: Actual Costs Standard Costs 6,200 lb. @ $3.90 6,000 lb. @ $4.00 Direct Material Direct Labor 4,300 hrs. @ $14.70 4,000 hrs. @ $15.00 Determine the labor rate variance. Select one: a. $1,200 F b. $1,200 U c. $1,290 F d. $1,290 U e. None of the above
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