The following data relate to direct materials costs for February:Materials cost per yard: standard, $1.93; actual, $2.03 Standard yardsper unit: standard, 4.62 yards; actual, 5.05 yards Units of production:9,000 Calculate the direct materials quantity variance.a. $7,469.10 unfavorableb.$7,856.10 unfavorablec.$7,856.10 favorabled.$7,469.10 favorable

Direct Materials Quantity VarianceThe direct materials quantity variance measures the difference…

Answered: The following data relate to direct…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 9EB: Eagle Inc. uses a standard cost system. During the most recent period, the company manufactured...

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Ellis Companys labor information for September is as follows: A. Compute the standard direct labor rate per hour. B. Compute the direct labor time variance. C. Compute the standard direct labor rate if the direct labor rate variance was $2,712.30 (unfavorable).
Standard direct materials cost per unit from variance data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: Determine the standard direct materials cost per unit of finished product, assuming that there was no inventory of work in process at either the beginning or the end of the month.
At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products: Lopez computes its overhead rates using practical volume, which is 80,000 units. The actual results for the year are as follows: (a) Units produced: 79,600; (b) Direct labor: 158,900 hours at 18.10; (c) FOH: 831,000; and (d) VOH: 112,400. Required: 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances.
Direct materials and direct labor variance analysis Lenni Clothing Co. manufactures clothing in a small manufacturing facility. Manufacturing has 25 employees. Each employee presently provides 40 hours of productive labor per week. Information about a production week is as follows: Instructions Determine (A) the standard cost per unit for direct materials and direct labor; (B) the price variance, quantity variance, and total direct materials cost variance; and (C) the rate variance, time variance, and total direct labor cost variance.
Refer to Cornerstone Exercise 8.13. In March, Nashler Company produced 163,200 units and had the following actual costs: Required: 1. Prepare a performance report for Nashler Company comparing actual costs with the flexible budget for actual units produced. 2. What if Nashler Companys actual direct materials cost were 1,175,040? How would that affect the variance for direct materials? The total cost variance?
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
The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.98; actual, $2.04 Standard yards per unit: standard, 4.74 yards; actual, 5.14 yards Units of production: 9,300 Calculate the direct materials price variance. a. $558.00 unfavorable b. $2,644.92 favorable c. $2,868.12 favorable d. $2,868.12 unfavorable
The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.95; actual, $2.05 Yards per unit: standard, 4.69 yards; actual, 5.20 yards Units of production: 9,100 The direct materials quantity variance is a. $9,049.95 unfavorable Ob. $9,514.05 unfavorable Oc. $9,514.05 favorable d. $9,049.95 favorable
The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.91; actual, $2.03 Yards per unit: standard, 4.64 yards; actual, 5.14 yards Units of production: 9,300 The direct materials price variance is O a. $5,736.24 unfavorable O b. $1,116.00 unfavorable O c. $5,736.24 favorable O d. $5,178.24 favorable 4:
The following data relate to direct materials costs for February:Materials cost per yard: standard, $1.91; actual, $2.04Yards per unit: standard, 4.70 yards; actual, 5.08 yardsUnits of production: 9,000The direct materials price variance is a.$5,499.00 favorable b.$1,170.00 unfavorable c.$5,943.60 favorable d.$5,943.60 unfavorable
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The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.95; actual, $2.04 Yards per unit: standard, 4.68 yards; actual, 5.10 yards Units of production: 9,200 The direct materials quantity variance is O a. $7,882.56 favorable b. $7,534.80 unfavorable O c. $7,882.56 unfavorable O d. $7,534.80 favorable

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