How much is the total Material variance ? Silverline Manufacturing planned to use1.5 yards of fabric per unit, budgeted at$65 a yard. However, the fabric actuallycost $67 per yard. The company actuallymade 1,500 units, although it had plannedto make only 1,300 units. Total yards usedfor production were 2,280. How much isthe total materials variance?

Explanation of Direct Materials Cost:Direct materials cost refers to the expense incurred for raw…

Answered: Silverline Manufacturing planned to use…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 5PA: Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but...

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A manufacturer planned to use $78 of variable overhead per unit produced, but in the most recent period, it actually used $76 of variable overhead per unit produced. During this same period, the company planned to produce 500 units but actually produced 540 units. What is the variable overhead spending variance?
How much is the total materials variance??
What are the direct materials price variance?
Bellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price is $3.75 per pound. If 15,000 units used 36,000 pounds, which were purchased at $4.00 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance?
Tip Top Corp. produces a product that requires nine standard gallons per unit. The standard price is $8.5 per gallon. If 4,600 units required 42,200 gallons, which were purchased at $8.07 per gallon, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance?
Summerlin Company budgeted 4,100 pounds of material costing $7.60 per pound to produce 2,000 units. The company actually used 5,350 pounds which cost $8.25 per pound to produce 2,000 units. What are the direct materials price variance?
What is the direct labor cost variance on these general accounting question?
Sunland Company planned to use 1 yard of plastic per unit budgeted at $81 a yard. However, the plastic actually cost $80 per yard. The company actually made 3600 units, although it had planned to make only 2800 units. Total yards used for production were 3660. How much is the total materials variance? A. $3660 F B. $1200 U C. $6480 U D. $64800 U
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What was the direct labor cost variance??
Feagin Company’s actual variable overhead was $73,000. Actual direct labor hours were 25,000 to make 20,000 finished products. The per-unit standard for direct labor hour is 1.5 hours, and the pre-determined variable overhead rate is $3 per direct labor hour. What were (1) the variable overhead spending variance (2) the variable overhead efficiency variance?

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