The following data relate to direct materials costs for December: Actual costs: 3,200 pounds at $7.25 Standard costs: 3,000 pounds at $7.00 What is the direct materials quantity variance? A. $1,400 favorable B. $1,400 unfavorable C. $1,450 unfavorable D. $1,400 favorable

The following data relate to direct materials costs for December: Actual costs: 3,200 pounds at $7.25 Standard costs: 3,000 pounds at $7.00 What is the direct materials quantity variance? A. $1,400 favorable B. $1,400 unfavorable C. $1,450 unfavorable D. $1,400 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

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 14CE: Refer to Cornerstone Exercise 8.13. In March, Nashler Company produced 163,200 units and had the...

See similar textbooks

Related questions

Q: answer ? Financial Accounting question

A: Step 1: Define Straight-Line DepreciationThe straight-line depreciation method allocates the cost of…

Q: Compute the amount of raw materials

A: Explanation of Raw Materials Used:Raw materials used refer to the total amount of materials consumed…

Q: What is the amount of the ending merchandise inventory?

A: Explanation of Merchandise Inventory:Merchandise inventory refers to the stock of goods a business…

Q: Can you please provide answer this financial accounting question?

A: Step 1: Define Effective Interest RateThe effective interest rate (EIR) considers the impact of…

Q: help me to solve this questions

A: Step 1: Definition of Units of Production MethodThe units of production method calculates…

Q: What is the amount of current liabilities

A: Concept of Current LiabilitiesCurrent liabilities are financial obligations a business must settle…

Q: Determine the effective rate of interest on these financial accounting question

A: Step 1: Define Effective Interest RateThe Effective Interest Rate (also called the Yield to Maturity…

Q: I Want Answer

A: Concept of Absorption CostingAbsorption costing is a method of accounting where all manufacturing…

Q: What is Lisa's realized gain on these financial accounting question?

A: Step 1: Define Realized GainA realized gain in a transaction is the difference between the fair…

Q: By year end the firm's overhead was?

A: Explanation of Predetermined Overhead Rate: The predetermined overhead rate is a calculated figure…

Q: Flynn acquires 100 percent of the outstanding voting shares of Macek Company on January 1, 2021. To…

A: Step 1:Determining the Total Purchase Consideration :- The total purchase consideration consists…

Q: Debt equity ratio

A: To find the debt-equity ratio, we use the DuPont Identity, which expresses Return on Equity (ROE)…

Q: Please need answer the financial accounting question please answer do fast

A: Step 1: Define Expected ReturnExpected return is the anticipated rate of return on an investment…

Q: not us ai please

A: Step 1: Definition of Contribution MarginThe contribution margin represents the portion of sales…

Q: How much did they charge for each pair

A: To determine the selling price per pair of gloves. Here's the step-by-step approach: Step 1:…

Q: Accounting question

A: Step 1:FIFO:-FIFO is the method of valuation of inventory in which inventory purchased first will be…

Q: Help

A: Explanation of Price-to-Earnings (P/E) Ratio:The Price-to-Earnings (P/E) ratio is a valuation metric…

Q: Determine adjusted cost of goods sold

A: Explanation of Underapplied Overhead: Underapplied overhead occurs when the actual overhead costs…

Q: financial account

A: Step 1: Definition of Degree of Operating Leverage (DOL)The Degree of Operating Leverage (DOL)…

Q: A factory's budgeted production is 12,000 units, and the total fixed overhead cost is $72,000.…

A: Given Data:Budgeted production = 12,000 unitsTotal fixed overhead cost = $72,000Actual production =…

Q: ????

A: Step 1: Definition of Final Amount PayableThe final amount payable to a supplier is the total amount…

Q: Hello tutor solve this question with accounting

A: Step 1: Calculation of Gross ProfitGross Profit = Sales Revenue × Gross Profit MarginGross Profit =…

Q: Hii, Tutor give answer

A: Concept of Current LiabilitiesCurrent liabilities are financial obligations that a company must…

Q: hello teacher please solve questions

A: Step 1: Definition of Receivables Turnover RatioThe receivables turnover ratio measures how…

Q: Ignoring the tax effect

A: Concept of Book ValueBook value refers to the net value of an asset recorded in a company's…

Q: How much cash disbursement for Material purchase be?

A: Explanation of Cash Disbursements for Materials Purchases:Cash disbursements for materials purchases…

Q: Financial accounting question

A: Step 1: Definition of Price-to-Earnings (P/E) RatioThe Price-to-Earnings (P/E) Ratio measures how…

Q: What is the expected return on the stock of these financial accounting question?

A: Formula:Expected Return = Risk-Free Rate + Beta * (Market Return - Risk-Free Rate)Steps:Identify the…

Q: Solve the financial accounting problem

A: Step 1: Define Earnings Per Share (EPS)Earnings Per Share (EPS) is a financial metric that measures…

Q: accounting question answer

A: Step 1: Definition of Material Price VarianceMaterial Price Variance measures the difference between…

Q: What is the amount of total assets

A: Explanation of Assets:Assets are resources owned by a company that provide future economic benefits.…

Q: Triton Manufacturing had a beginning finished goods inventory of $23,500 and an ending finished…

A: Explanation of Cost of Goods Sold (COGS):Cost of Goods Sold (COGS) represents the total direct costs…

Q: Subject: general accounting question

A: Step 1: Define Price-to-Earnings (P/E) RatioThe Price-to-Earnings (P/E) Ratio measures how much…

Q: correct answer please

A: Step 1: Definition of Operating LeverageOperating leverage measures how sensitive a company's…

Q: The monthly cost (in dollars) of a data plan for Mercury Communications is a linear function of the…

A: Given that the monthly cost C(x) is a linear function of the total data usage x (in gigabytes). This…

Q: Suppose Chrysler Motors has 720 million shares outstanding with a share price of $68.25, and $30…

A: Step 1: Calculate the Initial Market Value of EquityThe market value of equity at the beginning…

Q: Silver Spoon, a fine-dining restaurant, began its operations in 2015. Its fixed assets had a book…

A: Provided Data:Book value of fixed assets in 2016 = $950,000No new fixed assets were purchased in…

Q: Do fast answer of this accounting questions

A: Step 1: Definition of Contribution MarginThe contribution margin is the difference between sales…

Q: not use ai solve this question to fast

A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is used in…

Q: expert of account answer

A: a).Recognized gain is the profit made when an asset is sold for more than its purchase price. This…

Q: provide correct answer of this General accounting question

A: Step 1: Define the Accounting EquationThe accounting equation states that:…

Q: What is the expected dividend next year of this financial accounting question?

A: Step 1: Definition of Expected DividendThe expected dividend refers to the portion of a company's…

Q: kindly help me with this general accounting question

A: Step 1: Define Straight-Line DepreciationThe straight-line depreciation method spreads the cost of…

Q: Given true option financial accounting question

A: Step 1: Define Owner's EquityOwner's Equity represents the residual interest in the assets of a…

Q: Your firm has been the auditor of Caribild Products, a listed company, for a number of years. The…

A: Refer Answer

Q: Solve this Accounting problem

A: Explanation of Price-Earnings (P/E) Ratio:The Price-Earnings (P/E) Ratio is a financial metric that…

Q: Hello teacher please help me with accounting questions

A: Step 1: Definition of Cash Collected from CustomersCash collected from customers represents the…

Q: None

A: Step 1: Definition of Earnings Per Share (EPS)Earnings Per Share (EPS) is a financial metric that…

Q: Suppose hunt company has receivables of 72000

A: Explanation of Receivables: Receivables represent money owed to Hunt Company by its customers for…

Q: expert accounting answer

A: Step 1: Definition of High-Low MethodThe High-Low Method is a technique used to estimate fixed and…

Question

100%

What is the correct option? General accounting question

The following data relate to direct materials costs for December:
Actual costs: 3,200 pounds at $7.25 Standard costs: 3,000 pounds at $7.00
What is the direct materials quantity variance?
A. $1,400 favorable
B. $1,400 unfavorable
C. $1,450 unfavorable
D. $1,400 favorable

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 40,000 units of product were as follows: Each unit requires 0.3 hour of direct labor. Instructions Determine (A) the direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (B) the direct labor rate variance, direct labor time variance, and total direct labor cost variance; and (C) the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance.
The following data pertains to the direct materials cost for the month of October: Standard costs: 5,000 units allowed at $20 each Actual costs: 5,050 units input at $19 each What is the direct materials efficiency (quantity) variance? a. $950 favorable b. $950 unfavorable c. $1,000 favorable d. $1,000 unfavorable e. $50 unfavorable
Subject - General Account
What is the direct materials quantity variance ?
Sub. General Account
Need answer
Soar, Inc. manufactures a product that has the direct materials standard cost presented below. Budgeted and actual information for the current month for the manufacture of the finished product and the purchase and use of the direct materials is also presented. Standard cost for direct materials: 1.60 Ib. @ $2.50 per lb. Budget Actual Finished goods (in units) Direct materials usage (in pounds) 30,000 32,000 ? 51,000 Direct materials purchases (in pounds) 48,000 50,000 Total cost of direct materials purchases ? $120,000
Use this information to answer the question that follow. The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.99; actual, $2.04 Standard yards per unit: standard, 4.70 yards; actual, 5.10 yards Units of production: 9,500 Calculate the direct materials quantity variance. a. $7,562.00 favorable b. $7,562.00 unfavorable c. $7,752.00 favorable d. $7,752.00 unfavorable
The following data relate to direct labor costs for the current period: Standard costs 7,500 hours at $11.20 Actual costs 6,100 hours at $10.00 What is the direct labor rate variance? a. $23,000 unfavorable. b. $7,320 favorable. c. $23,000 favorable. d. $15,680 favorable.
The following data pertains to the direct materials cost for the month of October: 5,100 units allowed at $21 each 5,150 units input at $20 each Standard costs Actual costs What is the direct materials efficiency variance? Multiple Choice $1,000 unfavorable $1,000 favorable $1,050 unfavorable $1,050 favorable
The following data relate to direct materials costs for February:Materials cost per yard: standard, $1.96; actual, $2.03Standard yards per unit: standard, 4.64 yards; actual, 5.18 yardsUnits of production: 9,100Calculate the direct materials price variance. a.$3,299.66 unfavorable b.$637.00 unfavorable c.$3,299.66 favorable d.$2,955.68 favorable
Please provide