Information on XXX Company's direct materials costs is as follows: 20,000 P40,000 P2.10 Actual units of direct materials Actual direct materials cost Standard price per unit of direct materials Direct material efficiency variance (favorable) P3,000 30. XXX Company's direct material price variance was

Information on XXX Company's direct materials costs is as follows: 20,000 P40,000 P2.10 Actual units of direct materials Actual direct materials cost Standard price per unit of direct materials Direct material efficiency variance (favorable) P3,000 30. XXX Company's direct material price variance was

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter6: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 2DQ: Which of the following costs would be classified as variable and which would be classified as fixed,...

See similar textbooks

Similar questions

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…
If the materials price variance is $3300 F and the materials quantity and labor variances are each $1800 U, what is the total materials variance? a.$3300 F b. $1800 U c. $1500 F d. $4050 U
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
Use the following information to calculate the materials price variance: Direct material purchased and used (kgs) 30,000 Cost of direct material 84,000 Unfavourable direct materials usage variance 3,000 Standard quantity of direct materials allowed for production (kgs) 29,000 Select one: a. $6,000 U b. $2,800 F c. $6,000 F d. $2,800 U
Given the following information: 2a) the standard material costs of finished product X are as follows 2kg raw material Y @R10 per kg Actual information Purchases of raw material Y 1000kg @R9, 50 per kg Issues of raw material Y 600 kg Units of product X manufactured 290 units Calculate the following variances in respect of material i) Purchase price variance ( 5) ii) Issue price variance (5) iii) Quantity variance (5) iv) Total material variance if an issue price variance is used (5)
Rayan Ltd has provided the following information:Quantity (kg) Unit Rate (Rs.) Total (Rs.)StandardMaterial X 10 2 20Material Y 20 3 60Material Z 20 6 120Total 50 200ActualMaterial X 5 3 15Material Y 10 6 60Material Z 15 5 75Total 30 150You are required to compute the following and interpret the result:a) Material cost varianceb) Material price variancec) Material usage variance Do not give answer in image
The standard composition of material that is used in the production of product ‘Flurry’ is as follows: Material. Cost per kg Total cost Material F R3/kg R12 Material L R2/kg R14 The actual results were as follows:Material issued to produce 100 units of product ‘Flurry’: Material F 450kg @ R3.20 Material L 650kg @ R2.80 Calculate the following material variances:Price varianceMix variance
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
a.Compute for the actual cost paid per kilogram b.Compute for the Labor Efficiency Variance Present your answer as 1000 FAVORABLE OR 1000 UNFAVORABLE if applicable Topic: Standard Costing and Variance Analysis
If the materials price variance is $3,600 F and the materials quantity and labor variances are each $2,700 U, what is the total materials variance?
Find the missing values and label F/U Direct Labor Direct Labor Direct Labor Rate Variance Efficiency Variance Spending Variance A.$ 1500 U $2700 F ? B.$ 1250 F ? $2000 U C.$ 1750 F ? $3300 F D. ? $ 1250 U $4000 U E. ? $ 1850 F $ 2700 F.$1400 U $1900 U ?
The direct-material price variance is. O $13,800U. O $13,600U. O $13,400U. O $13,800F. O $13,600F.