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

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

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter9: Standard Costing: A Functional-based Control Approach

Section: Chapter Questions

Problem 4CE: Kavallia Company set a standard cost for one item at 328,000; allowable deviation is 14,500. Actual...

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How much is the direct materials price variance?
The actual cost of direct materials is $48.25 per pound, while the standard cost per pound is $50.75. During the current period, 4,800 pounds were used in production. What is the direct materials price variance?
What is the actual total direct materials cost for the current period???
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
Assume the following: The actual price per pound is $2.25. The standard quantity of pounds allowed per unit of finished goods is 4 pounds. The actual quantity of materials purchased and used in production is 50,000 pounds. The materials price variance is $12,500 U. The materials quantity variance is $4,000 F. What is the total number of units produced (finished goods) during the period?
Assume the following: • The standard price per pound is $3.00. • The actual quantity of materials purchased is 60,000 pounds. • The actual quantity of materials used in production is 62,000 pounds. • The actual purchase price per pound of materials was $3.10. What is the materials price variance? Multiple Choice O O $6,000 F $6,200 F $6,000 U $6,200 U