selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) AQ-Actual Quantity SQ=Standard Quantity AP Actual Price SP Standard Price. AQ Actual Cost X X 44,300 407,560 AP $920 Direct materials price variance Direct materials quantity variance Total direct materials variance $8,860 O AQ 44,300 ♥ Answer is not complete. X X $398,700 $ 8.860 Unfavorable 129,600 Unfavorable Unfavorable SPO $ 0.00 300 129,600 Standard Cost SQ 29,000 X X X 269,100 SP $9.00 00

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.)
AQ-Actual Quantity
SQ = Standard Quantity
AP Actual Price
SP Standard Price.
AQ
Actual Cost
X
X
44,300
407,560
AP
$920
Direct materials price variance
Direct materials quantity variance
Total direct materials variance
$8,860
Ⓒ
AQ
44,300
♡
Answer is not complete.
X
X
$398,700
S 8.860 Unfavorable
129,600 Unfavorable
Unfavorable
SP
$ 0.00
300
129,600
SQ
29,000
Standard Cost
X
X
269,100
SP
$9.00
30
Transcribed Image Text:selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) AQ-Actual Quantity SQ = Standard Quantity AP Actual Price SP Standard Price. AQ Actual Cost X X 44,300 407,560 AP $920 Direct materials price variance Direct materials quantity variance Total direct materials variance $8,860 Ⓒ AQ 44,300 ♡ Answer is not complete. X X $398,700 S 8.860 Unfavorable 129,600 Unfavorable Unfavorable SP $ 0.00 300 129,600 SQ 29,000 Standard Cost X X 269,100 SP $9.00 30
Required information
[The following information applies to the questions displayed below.]
A manufactured product has the following information for June.
Direct materials.
Direct labor
Overhead
Units manufactured
Standard Quantity and Cost
6 pounds @ $9 per pound
2 DLH@ $16 per DLH
2 DLH@ $13 per DLH
AQ Actual Quantity
SQ Standard Quantity
AP Actual Price
SP Standard Price.
Actual Results
44,300 pounds @ $9.20 per pound
14,400 hours @ $16.50 per hour
$ 195,300
7,300 units
Compute the (1) direct materials price varlance and (2) direct materials quantity variance. (Indicate the effect of each variance by
selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.)
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials. Direct labor Overhead Units manufactured Standard Quantity and Cost 6 pounds @ $9 per pound 2 DLH@ $16 per DLH 2 DLH@ $13 per DLH AQ Actual Quantity SQ Standard Quantity AP Actual Price SP Standard Price. Actual Results 44,300 pounds @ $9.20 per pound 14,400 hours @ $16.50 per hour $ 195,300 7,300 units Compute the (1) direct materials price varlance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.)
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