Domose Inc. planned to use $150 of material per unit but actually used $147 of material per unit, and planned to make 1,100 units but actually made 900 units The sales-volume variance for materials is Select one: a. $2,700 unfavorable b. $30,000 Unfavorable C. $30,000 favorable d. zero e. $29,400 unfavorable

Domose Inc. planned to use $150 of material per unit but actually used $147 of material per unit, and planned to make 1,100 units but actually made 900 units The sales-volume variance for materials is Select one: a. $2,700 unfavorable b. $30,000 Unfavorable C. $30,000 favorable d. zero e. $29,400 unfavorable

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Description: University - Kadoorley courses20203الفرع الرئيسيالأعمال والاقتصادانظمة معلومات محاسبيةمحاسبة الادارية نظري - طولكرمالامتحانالمحاسبة الإدارية نظريDomose Inc. planned to use $150 of material per unit but actually used $147 of material per unit,and pla

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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Hart Company...
Assume the following: • The standard price per pound is $2.35. • The standard quantity of pounds allowed per unit of finished goods is 4 pounds. • The actual quantity of materials purchased was 53,000 pounds, whereas the quantity of materials used in production was 50,700 pounds. • The actual purchase price per pound of materials was $2.25. • The company produced 13,000 units of finished goods during the period. What is the materials quantity variance? Multiple Choice O о O $3,055 F $5,175 F $2,925 F $5,405 F
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Tip Top Corp. produces a product that requires nine standard gallons per unit. The standard price is $8.5 per gallon. If 4,600 units required 42,200 gallons, which were purchased at $8.07 per gallon, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance?
2 The following company information is available for March. The direct materials price variance is: Direct materials purchased and used Standard costs for direct materials for March production Multiple Choice $9,200 unfavorable. $9,200 favorable. $9,000 favorable. 4,500 feet @ $98 per foot 4,600 feet @ $96 per foot
Opal Manufacturing Company established the following standard price and cost information: Sales price $70 per unit 52 per unit Variable manufacturing cost Fixed manufacturing cost $ 120,000 total $50,000 total Fixed selling and administrative cost Opal expected to produce and sell 29,000 units. Actual production and sales amounted to 32,500 units. Required: a. and b. Determine the sales volume variances, including variances for number of units, sales revenue, variable manufacturing cost, fixed manufacturing cost, and fixed selling and administrative cost. Classify the variances as favorable (F) or unfavorable (U). Note: Indicate the effect of each variance by selecting "Favorable", "Unfavorable", and "None" for no effect (i.e., zero variance). Units Static Budget Flexible Budget Volume Variance Favorable or Unfavorable