The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.91; actual, $2.04 Yards per unit: standard, 4.70 yards; actual, 5.08 yards Units of production: 9,000 The 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

Q: The following data relate to direct labor costs for the current period: Standard costs 6,903 hours…

A: Given:Actual rate: $10.4Standard rate: $11.6Actual hours: 6,394 hoursDirect labor rate variance =…

Q: ng data relate to direct materials ce ost per yard: standard, $1.94; actu ards per unit: standard,…

A: Standard quantity = 9100*4.66 = 42,406 Actual quantity =9100*5.25 = 47,775 Standard rate = $1.94

Q: The standard costs and actual costs for direct materials for the manufacture of 2,640 actual units…

A: Cost Variances is the difference between the actual cost incurred and the standard cost. Cost…

Q: The standard cost of Product B manufactured by Sandhill Company includes 3.0 units of direct…

A: Total material variance  = Standard quantity ×Standard price  - Actual quantity ×Actual price

Q: Soar, Inc. manufactures a product that has the direct materials standard cost presented below.…

A: Materials Price Variance = (Standard price - Actual price) x Actual quantity = [2.50 -…

Q: provide correct answer

A: so Option C  ($28,975  favorable) is the correct answer     THANK YOU

Q: What is the materials quantity variance for the month? $9,940 U $15,351 U $14,484 U

A: Introduction:- The following formula used to calculate Material quantity variance as follows under:-…

Q: 14. The following data relate to direct labor costs for the current period: 1,800 hours at $12.75…

A: Given,   Standard costs = 1800 hours @ $ 12.75   Actual costs = 2100 hours @ $ 11.50

Q: Need answer

A: If you have any questions let me know in comment box thankyou for your question.

Q: The following materials standards have been established for a particular product: Standard quantity…

A: MATERIAL PRICE VARIANCE : = ACTUAL QUANTITY X ( STANDARD PRICE - ACTUAL PRICE)

Q: The standard costs and actual costs for direct materials for the manufacture of 2,000 actual units…

A: The objective of the question is to calculate the direct materials price variance. The direct…

Q: The standard costs and actual costs for direct materials for the manufacture of 2,700 actual units…

A: Standard costing means where standard is set for various cost element and actual cost is then…

Q: The standard costs and actual costs for direct materials for the manufacture of 2,590 actual units…

A: The objective of the question is to calculate the direct materials quantity variance, which is a…

Q: Overhead cost information for Production for the month of December is as follows: Total actual…

A: The overhead variance is the difference between the actual and applied overhead cost. The variance…

Q: The following data relate to direct materials costs for February: Materials cost per yard: standard,…

A: Introduction: Direct materials are materials and supplies available for consumption during the…

Q: The standard costs and actual costs for direct materials for the manufacture of 2,000 actual units…

A: Formula to calculate direct material quantity variance:Direct material quantity variance = (Standard…

Q: 12. The following data relate to direct labor costs for August: Actual costs: 8,700 hours at $16.00…

A: Direct labour rate variance means when there is difference in standard cost of labour and actual…

Q: The following data relate to direct labor costs for August: actual costs for 5,500 hours at $24.00…

A: The disparity between the estimated cost of direct labour at normal cost (i.e. direct labour hours…

Q: The following data relate to direct materials costs for February: Materials cost per yard: standard,…

A: Direct costs are the expenses that are directly used for the production of goods and services for…

Q: Need answer the question

A: Step 1: Introduction to the Labor Variances in Standard CostingThe total direct labor variance in…

Q: The following data pertains to the direct materials cost for the month of October: Standard costs…

A: Direct material efficiency variance = (Actual quantity×Standard Price) - (Standard quantity×Standard…

Q: d costs costs ct labor time variance is 7,100 6,200

A: Answer : Direct labor time variance = (Actual hour* Standard rate) - (Standard hour* Standard rate)…

Q: Steinberg Company had the following direct materials costs for the manufacturing of product T in…

A: Variance is the difference between the estimated or budgeted costs and the actual costs. These are…

Q: The standard costs and actual costs for direct materials for the manufacture of 2,600 actual units…

A: Direct materials price variance = ( Standard rate of material - Actual rate of material ) x Actual…

Q: 13. The following data relate to direct labor costs for the current period: 3,200 hours at $8.25…

A: Direct Labor Time Variance Direct Labor Time Variance = (Standard labor hours allowed for actual…

Q: The following data relate to direct labor costs for the current period: 7,200 hours at $11.20 6,300…

A: Direct labor time variance is used to measure the comparison of actual time taken than the standard…

Q: The standard costs and actual costs for direct materials for the manufacture of 2,800 actual units…

A: Direct material variance is the difference between standard direct material cost for actual…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.