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Name: If the materials price variance is $3900 F and the materials quantity
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Description: If the materials price variance is $3900 F and the materials quantity and labor variances are each $2700 U, what is the totalmaterials variance?O $4500 UO $1200 FO $2700 UO $3900 F

Business

Accounting

If the materials price variance is $3900 F and the materials quantity and labor variances are each $2700 U, what is the total materials variance? O $4500 U O $1200 F O $2700 U O $3900 F

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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Use the information provided to answer the questions. Actual Price Paid Per Pound of Material: $14.50 Total Standard Pounds for Units Produced This Period 12,500 Pounds of Material Used 13,250 Direct Material Price Variance Favorable $4,637.50 All material purchased was used in production. A. What is the standard price for materials? B. What is the direct materials quantity variance? C. What is the total direct materials cost variance? D. If the direct materials price variance was unfavorable, what would be the standard price?
2 no Question Requirement: Compute the following: (i) Material price Purchase variance (ii) Material price usage variance (iii) Material Quantity variance (iv) Material total variance (v) Labor rate variance (vi) Labor efficiency variance (vii) Labor total variance (viii) Variable Spending variance. (ix) Variable Efficiency variance (x) Variable total variance
The direct-material price variance is. O $13,800U. O $13,600U. O $13,400U. O $13,800F. O $13,600F.
In 75 words or fewer, explain what a cost variance is and describe its potential causes.
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answer
d) Calculate the variable overhead efficiency variance. Actual Quantity: 3150 Standard Quantity for Actual Output: 5850 Variable Overhead Efficiency Variance: $36990 Favorable <