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...

See similar textbooks

Similar questions

Titan Company has a materials price standard of $4.00 per pound. Twelve thousand pounds of materials were purchased at $4.40 a pound. The actual quantity of materials used was 12,000 pounds, although the standard quantity allowed for the output was 10,800 pounds. Titan's total materials variance is: A. $10,080 F B. $9,600 F C. $9,600 U D. $10,080 U Titan's materials price variance is A. $480 U B. $4,800 U C. $4,320 U D. $4,800 F
Provide answer general Accounting
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
Stonier company has a materials price solve this question
Need answer
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
The standard costs and actual costs for direct materials for the manufacture of 3,000 actual units of product are as follows: Standard CostsDirect materials 1,040 kilograms at $8.75 Actual CostsDirect materials 2,000 kilograms at $8.00 The direct materials price variance is a.$2,750 unfavorable b.$2,750 favorable c.$1,500 favorable d.$1,500 unfavorable
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 usedto produce 5,000 units. The quantity standard allows two pounds of the raw materialper unit produced. What is the materials quantity variance?a. $5,000 unfavorableb. $5,000 favorablec. $2,000 favorabled. $2,000 unfavorable
1
Please provide correct answer ...
1. A quantity of a particular raw material was purchased for $43,250. The standard cost of the material was $2.00 per kilogram and there was an unfavorable materials price variance of $3,250. How many kilograms were purchased? 2. The standard direct material cost to produce a unit of Lem is 4 meters of material at $2.50 per meter. During May of the current year, 4,200 meters of material costing $10,080 were purchased and used to produce 1,000 units of Lem. What was the material price variance for May?
provide correct answer

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS