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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

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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

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 16MC: When is the direct labor time variance favorable? A. when the actual quantity used is greater than...

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Longman, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is 0.9 pound per glass at a cost of $0.50 per pound. The actual result for one month's production of 7,100 glasses was 1.4 pounds per glass, at a cost of $0.40 per pound. Calculate the direct materials cost variance and the direct materials efficiency variance. .....
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--/1 Question 5 View Policies Current Attempt in Progress If the materials price variance is $3900 F and the materials quantity and labor variances are each $3000 U, what is the total materials variance? O $3000 U O $3900 F O $4350 U O $900 F hp 12 f10 fg 144 18 f7 f6 f5 4+
Material price variance = (Standard price per gram - Actual price per gram) * Actual quantity of material used = (P5 - P6) * 14000 = P14,000 (Unfavourable) Material efficiency variance = (Standard quantity of materials - Actual material quantity used) * Standard price per gram = (12000 - 14000) * 5 = P10,000 (Unfavourable) Total materials cost variance = Materials price variance + Materials efficiency variance = (P14,000) + (P10,000) = P24,000 (Unfavourable) For Direct labour, Standard labour hours allowed for actual production = Actual units produced * Standard hours per unit = 2000 units * 1.8 hours = 3600 hours Direct labour rate variance = (Standard labour rate - Actual labour rate) * Actual labour hours used = (P100 - P97.5) * 4000 = P10,000 (Favourable) Direct labour efficiency variance = (Standard labour hours - Actual labour hours) * Standard labour rate = (3600 - 4000) * 100 = P40,000 (Unfavourable) Total direct labour cost variance = Direct labour rate variance + Direct…
Assume the following: • The standard price per pound is $3.00. • The actual quantity of materials purchased is 60,000 pounds. • The actual quantity of materials used in production is 62,000 pounds. • The actual purchase price per pound of materials was $3.10. What is the materials price variance? Multiple Choice O O $6,000 F $6,200 F $6,000 U $6,200 U