The following data relate to direct materials costs for February:Materials cost per yard: standard, $1.98; actual, $2.04Standard yards per unit: standard, 4.74 yards; actual, 5.14 yardsUnits of production: 9,300Calculate the direct materials price variance.a. $558.00 unfavorableb. $2,644.92 favorablec. $2,868.12 favorabled. $2,868.12 unfavorable

Step 1: Calculation of actual quantityActual Quantity = Actual Yards per Unit × Units of…

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 7PA: Ellis Companys labor information for September is as follows: A. Compute the standard direct labor...

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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, $1.91; 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
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, $1.95; 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
Use this information to answer the question that follow.The following data relate to direct materials costs for February:Materials cost per yard: standard, $1.93; actual, $2.04Standard yards per unit: standard, 4.61 yards; actual, 5.10 yardsUnits of production: 9,500Calculate the direct materials price variance. a. $1,045.00 unfavorable b. $4,817.45 favorable c. $5,329.50 unfavorable d. $5,329.50 favorable
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
Myers Corporation has the following data related to direct materials costs for November: actual cost for 4,670 pounds of material at $5.40 and standard cost for 4,400 pounds of material at $6.20 per pound. The direct materials price variance is a. $1,674 favorable Ob. $3,736 unfavorable c. $1,674 unfavorable Od. $3,736 favorable
Myers Corporation has the following data related to direct materials costs for November: actual cost for 4,680 pounds of material at $5.00 and standard cost for 4,460 pounds of material at $6.20 per pound. The direct materials price variance is Oa. $1,364 unfavorable Ob. $1,364 favorable Oc. $5,616 unfavorable Od. $5,616 favorable
A5
Myers Corporation has the following data related to direct materials costs for November: actual cost for 4,620 pounds of material at $5.20 and standard cost for 4,430 pounds of material at $6.30 per pound. The direct materials price variance is a.$5,082 unfavorable b.$5,082 favorable c.$1,197 favorable d.$1,197 unfavorable
The following data relate to direct labor costs for the current period: Standard costs 7,300 hours at $11.80 Actual costs 6,400 hours at $10.00 The direct labor time variance is Oa. $10,620 unfavorable Ob. $9,000 favorable C. $9,000 unfavorable Od. $10,620 favorable

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