Myers Corporation has the following data related to direct materials costs for November: actual costs for 5,000 pounds of material at $4.50 and standard costs for 4,800 pounds of material at $5.10 per pound. The direct materials quantity variance is

Q: Consider the following data for Martin Manufacturing during the month of November:…

A: Answer) Calculation of Material Price variance Material price variance = (Standard price per pound…

Q: [The following information applies to the questions displayed below.] A manufactured product has the…

A: Direct Material price variance = (Actual price per pound - Standard price per pound)*Actual quantity…

Q: Myers Corporation has the following data related to direct materials costs for November: actual…

A: The direct materials variances are computed to identify the excess/less costs incurred in the…

Q: Primary Co. has a standard materials price of $4.00 per pound and a standard direct labor rate of…

A: When there is any change between the actual and Standard variance occurred it may be favorable or…

Q: A Company has a material standard of 1.1 pound per unit of output. Each pound has a standard price…

A: Direct materials quantity variance is the difference in Standard direct materials cost and Actual…

Q: A Company has a material standard of 1.1 pound per unit of output. Each pound has a standard price…

A: Direct material variance is the difference between standard direct material cost for actual…

Q: The following data relate to direct labor costs for the current period: Standard costs 7,500 hours…

A: Solution..     Standard rate = $11.20  per hour  Actual rate = $10.10 per hour  Actual hours = 6,100…

Q: The company set the standards for one unit of production: Direct Materials: 0.5 pounds @$1.00 per…

A: DIRECT MATERIAL PRICE VARIANCE : = ACTUAL QUANTITY X ( STANDARD RATE - ACTUAL RATE )

Q: Acoma, Inc., has determined a standard direct materials cost per unit of $6.80 (2 feet × $3.40 per…

A:

Q: The standard costs and actual costs for direct materials for the manufacture of 1,870 actual units…

A: The direct material quantity variance is calculated as difference of standard cost at standard…

Q: The following materials standards have been established for a particular product: Standard quantity…

A: We know that, Material Price variance = (Standard price - actual price) * Actual quantity purchased…

Q: The standard cost of product 777 includes 2.0 units of direct materials at $6.70 per unit. During…

A: 1. Total Material Variance: It's the difference between the actual total material cost and the…

Q: The following materials standards have been established for a particular product: Standard quantity…

A: MATERIAL PRICE VARIANCE : = ACTUAL QUANTITY X ( STANDARD PRICE - ACTUAL PRICE)

Q: Myers Corporation has the following data related to direct materials costs for November: actual cost…

A: Direct materials price variance = (Actual price - Standard price)*Actual quantity

Q: A company provided the following direct materials cost information. Compute the total direct…

A: Variance is the result of the difference between the budgeted value and actual results. It is used…

Q: Cost system. The company has established the following standard for the materials costs of one unit…

A: Material price variance is the difference between actual price and standard price for the actual…

Q: The Russell Company provides the following standard cost data per unit of product: Direct material…

A: Standard costing means where standard is set for various cost element and actual cost is then…

Q: Vaughn Company has determined that the standard cost to manufacture its product includes 2 units of…

A: The variance is the difference between the standard and actual cost data. The variance can be…

Q: For the current period, Juan Company's standard cost of direct materials is $170,000. The direct…

A: A variance is a difference between a planned amount and the actual amount incurred. Variance can be…

Q: Standard and actual costs for direct materials for the manufacture of 2,000 units of product were as…

A: Quantity variance=Standard quantity-Actual quantity×Standard Price Price variance=Standard…

Q: The standard direct material cost per unit for Willis Group was $180 (= $45 per gallon x 4 gallons…

A:

Q: Myers Corporation has the following data related to direct materials costs for November: actual cost…

A: Formula: Direct Material price variance = (Actual price per pound - Standard price per pound)*Actual…

Q: he standard costs and actual costs for direct materials for the manufacture of 2,800 actual units of…

A: Variance analysis is a type of analysis that is used to distinguish between actual and planned…

Q: The Russell Company provides the following standard cost data per unit of product: Direct material…

A: Standard costing means where standard is set for various cost element and actual cost is then…

Q: The following information relates to production activities of Mercer Manufacturing for the year.…

A: Variance is the difference between the standard costs and the actual costs. If the standard costs…

Q: The following data relate to direct labor costs for the current period: Standard costs 6,900 hours…

A: Direct Labor Time Variance - Direct Labour time variance show the standard time and actual time…

Q: During March, Monty, Inc. purchases and uses 9,800 pounds of materials costing $39,690 to make 4,500…

A: 1. Total Material Variance: It's the difference between the actual total material cost and the…

Q: Myers Corporation has the following data related to direct materials costs for November: actual…

A: The objective of the question is to calculate the direct materials quantity variance for Myers…

Q: The following information is provided for Dexter, Inc.: Standard direct labor wage rate: $10/hour…

A: Formula: Direct labor rate variance = ( Standard rate - Actual rate ) x Actual hours

Q: Myers Corporation has the following data related to direct materials costs for November: actual…

A: Direct material  price variance =  Actual quantity ×(Standard price - Actual price)

Q: Based on the following information, calculate the direct materials price variance. Actual costs…

A: Direct Material Price Variance is the difference in cost that results from price being different to…

Q: Devoto Incorporated has provided the following data concerning one of the products in its standard…

A: Variance refers to a change between the expected value and the actual result. This term is usually…

Q: Sexson Corporation uses a standard cost system. The following information pertains to direct…

A: Standard quantity allowed for actual output  = 6,000 lbs. Actual output = 1,000 units

Q: Zillow Inc. has the following data related to direct materials costs for the current month: actual…

A: The objective of the question is to calculate the direct materials quantity or efficiency variance…

Q: The following data relate to direct labor costs for the current period: Standard costs 6,900 hours…

A: Given that: Actual hours = 6400 hours Standard hours = 6900 hours Standard rate per hour = $11.30…

Q: Myers Corporation has the following data related to direct materials costs for November: actual cost…

A: Direct material price variance = (Standard Price - Actual Price) x Actual Quantity Variance is…

Q: The standard direct material cost per unit for Willis Group was $152 (= $38 per gallon × 4 gallons…

A: The variance is the difference between the actual and standard cost of production data. The variance…

Q: direct materials quantity variance

A: Direct materials quantity variance = (Standard Quantity - Actual Quantity) * Standard Price where,…

Q: The standard costs and actual costs for direct materials for the manufacture of 1,870 actual units…

A: Direct  Material quantity variance = (Actual quantity used - Standard quantity allowed)*Standard…

Q: The following materials standards have been established for a particular product: Standard quantity…

A: Solution: material quantity variance = (standard quantity - actual quantity used) * standard price…

Q: Williams Manufacturing Company has established the following materials standards for a particular…

A: Material quantity variance refers to the variance in the cost of material due to the difference in…

Q: The following materials standards have been established for a particular product: Standard quantity…

A: Introduction:- Standard costs are estimates of the actual costs in a company’s production process…

Q: Zillow Inc. has the following data related to direct materials costs for the current month: actual…

A: The objective of the question is to calculate the direct materials price variance for Zillow Inc.…