Georgia, Inc. has collected the following data on one of its products. The direct materials quantity variance is:Direct materials standard (4 lbs. @ $1/1b.)2$4 per finished unitTotal direct materials cost variance-unfavorable$ 13,750Actual direct materials used150,000 lbs.Actual finished units produced30,000 unitsMultiple Choice$30.000 favorable.$13,750 unfavorable.$16,250 favorable.$30,000 unfavorable.$13.750 favorable.< Prev25 of 25Next >

Name: Georgia, Inc. has collected the following data on one of its products
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Georgia, Inc. has collected the following data on one of its products. The direct materials quantity variance is:Direct materials standard (4 lbs. @ $1/1b.)2$4 per finished unitTotal direct materials cost variance-unfavorable$ 13,750Actual direct ma

The actual performance is measured on the basis of standard performance. In case if the actual…

Business

Accounting

Georgia, Inc. has collected the following data on one of its products. The direct materials quantity variance is: Direct materials standard (4 lbs. @ $1/1b.) $ 4 per finished unit $ 13,750 150,000 lbs. 30,000 units Total direct materials cost variance-unfavorable Actual direct materials used Actual finished units produced Multiple Choice O s30,000 favorable. O $13,750 unfavorable. $16,250 favorable. $30,000 unfavorable. $13,750 favorable.

Georgia, Inc. has collected the following data on one of its products. The direct materials quantity variance is: Direct materials standard (4 lbs. @ $1/1b.) $ 4 per finished unit $ 13,750 150,000 lbs. 30,000 units Total direct materials cost variance-unfavorable Actual direct materials used Actual finished units produced Multiple Choice O s30,000 favorable. O $13,750 unfavorable. $16,250 favorable. $30,000 unfavorable. $13,750 favorable.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Question: Calculating Material Variances: At Frigicor, The Standard Price For The M640 Electrical Relay (A Component Used In The Production ... Calculating Material Variances: At Frigicor, the standard price for the M640 electrical relay (a component used in the production of a commercial refrigeration unit) is $57. Standards call for 2.5 relays per unit of finished product. In July, the company purchased 150 relays for $8,900. The company used 104 relays in the production of 50 refrigeration units (4 relays were damaged in the installation process). Required: calculate the material price variance and the material quantity variance related to the M640 electrical relay. Indicate whether the variances are favorable or unfavorable. (show work)
Please answer complete question, otherwise skip it,,,answer in text form please (without image)
Use this information for Pink Peach Company to answer the question that follows. The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.91; actual, $2.05 Standard yards per unit: standard, 4.73 yards; actual, 5.21 yards Units of production: 9,300 Compute the direct materials quantity variance. Oa. $8,526.24 favorable Ob. $8,526.24 unfavorable Oc. $9,151.20 unfavorable Od. $9,151.20 favorable
See attached image Required:Calculate Parker Plastic’s direct materials price and quantity variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units. The direct materials quantity variance is: Direct materials standard (7 Kilogram @ $2/Kilogram) Actual cost of materials purchased Actual direct materials purchased and used Multiple Choice $50,000 favorable. $22.500 unfavorable. $27,500 unfavorable. $50,000 unfavorable $22.500 favorable
Please help me with correct answer thanku
None
Show the solution in good accounting form Compute for the materials variance MARICOL Company uses a standard costing system in connection with the manufacture of their product "X". Each unit of finished product contains 2 yards of a direct material. However, a 20% direct material spoilage calculated on input quantities occurs during the manufacturing process. The standard cost of the direct material is P3 per yard. For the month, the company purchased 100,000 yards of the direct material for P350,000 and used 90,000 yards to produce 40,000 units of Material X.
help with material quantities variance. thanks
Please do not give solution in image format thanku
1. Information for HUNTER X HUNTER direct material cost for July 2012 is as follows; Actual quantity of direct materials purchased and used is 50,000 kilos, actual cost of direct materials of P 175,000; Unfavorable direct material usage variance of P 8,000 and standard quantity of direct materials allowed for production is 48,000 kilos. What is the direct materials price variance? 2. Image attached
Performance Eval Variances: Refer to the picture. Thanks!