tutor help need Sunland Company has a materials price standard of $2.00 per pound. Six thousand pounds of materials were purchased at $2.20 a pound.The actual quantity of materials used was 4600 pounds, although the standard quantity allowed for the output was 4000 pounds. SunlandCompany's materials quantity variance is:a. $1320 F.b. $1200 U.c. $1320 U.d. $1200 F.

Definition of Materials Quantity VarianceThe Materials Quantity Variance (MQV) measures the…

Answered: Sunland Company has a materials price…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 4PA: April Industries employs a standard costing system in the manufacturing of its sole product, a park...

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Bramble Corp. has a materials price standard of $2.00 per pound. 4600 pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 4600 pounds, although the standard quantity allowed for the output was 4300 pounds. Bramble Corp.'s materials price variance is: a. $60 U. b. $920 U. c. $920 F. d. $860 U.
Vaughn Manufacturing has a materials price standard of $2.00 per pound. 4900 pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 4900 pounds, although the standard quantity allowed for the output was 3700 pounds. Vaughn Manufacturing's total materials variance is: a. $3380 U. b. $3380 F. c. $3620 U. d. $3620 F.
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Coronado Industries has a materials price standard of $2 per pound. 5000 pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 5000 pounds although the standard quantity allowed for the output was 4300 pounds. Coronado Industries's materials price variance is O $1000 U. O $1000 F. O $140 U. O $860 U. Save for Later O 6: ( 199 C Attempts: 0 of 1 used Submit Answer 55°F
The actual cost of direct materials is $55.75 per pound. The standard cost per pound is $60.50. During the current period, 6,100 pounds were used in production. The standard quantity for actual units produced is 5,700 pounds. How much is the direct materials price variance? A. $27,075 unfavorable B. $28,975 unfavorable C. $28,975 favorable D. $27,075 favorable
Stonier company has a materials price solve this question
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1. The standard and actual prices per pound of raw material are $4.00 and $4.50, respectively. A total of 10,500 pounds of raw material was purchased and then used to produce 5,000 units. The quantity standard allows two pounds of the raw material per unit produced. What was the materials quantity variance? a. $5,000 unfavorable b. $5,000 favorable c. $2,000 favorable d. $2,000 unfavorable 2. Referring to the facts in question 1 above, what was the material price variance? a. $5,250 favorable b. $5,250 unfavorable c. $5,000 unfavorable d. $5,000 favorable
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A company uses 40,000 pounds of materials for which it paid $2 a pound. The materials price variance was $30,000 unfavorable. What is the standard price per pound? a. $1.25. b. $0.75. c. $2.00. d. $2.75.

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