Direct Materials Variances The following data relate to the direct materials cost for the production of 2,400 automobile tires: Actual: 53,600 Ibs. at $1.95 per Ib. Standard: 55,200 Ibs. at $1.90 per Ib. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance b. The direct materials price variance should normally be reported to the When lower amounts of direct materials are used because of production efficiencies, the variance would be reported to the When the favorable use of raw materials is caused by the purchase of higher-quality raw materials, the variance should be reported to the

Direct Materials Variances The following data relate to the direct materials cost for the production of 2,400 automobile tires: Actual: 53,600 Ibs. at $1.95 per Ib. Standard: 55,200 Ibs. at $1.90 per Ib. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance b. The direct materials price variance should normally be reported to the When lower amounts of direct materials are used because of production efficiencies, the variance would be reported to the When the favorable use of raw materials is caused by the purchase of higher-quality raw materials, the variance should be reported to the

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Description: Direct Materials VariancesThe following data relate to the direct materials cost for the production of 2,400 automobile tires:Actual:53,600 Ibs. at $1.95 per lb.Standard:55,200 Ibs. at $1.90 per lb.a. Determine the direct materials price variance, d

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following data relate to the direct materials cost for the production of 1,800 automobile tires: Actual: 60,900 lb. at $1.70 Standard: 59,100 lb. at $1.75 a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Price variance $fill in the blank 1 Quantity variance $fill in the blank 3 Total direct materials cost variance $fill in the blank 5
Direct Materials Variances The following data relate to the direct materials cost for the production of 2,500 automobile tires: Actual: 51,100 lbs. at $1.75 per lb. Standard: 49,600 lbs. at $1.8 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance $fill in the blank 1 Direct Materials Quantity Variance $fill in the blank 3 Total Direct Materials Cost Variance $fill in the blank 5 b. The direct materials price variance should normally be reported to the . If lower amounts of direct materials had been used because of production efficiencies, the variance would be reported to the . If the favorable use of raw materials had been caused by the purchase of higher-quality raw materials, the variance should be reported to the .
2. Acme Inc. has the following information available: Actual price paid for material Standard price for material Actual quantity purchased and used in production Standard quantity for units produced Actual labor rate per hour Standard labor rate per hour Actual hours Standard hours for units produced A. Compute the material price and quantity, and the labor rate and B. C. D. E. unfavorable variances. $1.00 $0.90 100 90 15 $ $ 16 200 220 efficiency variances. Describe the possible causes for this combination of favorable and
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Question Content Area Direct Materials Variances The following data relate to the direct materials cost for the production of automobile tires: Actual: 900,000 lbs. at $2.75 per lb.Standard: 916,000 lbs. at $2.70 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Line Item Description Amount Variance Direct Materials Price Variance $fill in the blank 1 Direct Materials Quantity Variance $fill in the blank 3 Total Direct Materials Cost Variance $fill in the blank 5
eBook Show Me How Print Item Direct Materials Variances The following data relate to the direct materials cost for the production of 1,800 automobile tires: Actual: 53,600 lb. at $2.00 Standard: 52,500 lb. at $2.05 a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Price variance $fill in the blank 1 Quantity variance $fill in the blank 3 Total direct materials cost variance $fill in the blank 5 b. The direct materials price variance should normally be reported to the . If lower amounts of direct materials had been used because of production efficiencies, the variance would be reported to the . If the favorable use of raw materials had been caused by the purchase of higher-quality raw materials, the variance should be reported to the
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Direct Materials Variances The following data relate to the direct materials cost for the production of 1,800 automobile tires: Actual: 60,000 lbs. at $1.95 per lb. Standard: 58,200 lbs. at $1.90 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance . When lower amounts of direct materials are used because of b. The direct materials price variance should normally be reported to the production efficiencies, the variance would be reported to the When the favorable use of raw materials is caused by the purchase of higher- quality raw materials, the variance should be reported to the