The following data relate to the direct materials cost for the production of automobile tires: Actual: 62,200 lbs. at $1.75 per lb. Standard: 61,000 lbs. t $1.70 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negat number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Varunce Direct Materials Quantity Variance Total Direct Materials Cost Variance b. The direct materials price variance should normally be reported to the j efficiencies, the variance would be reported to the materials, the variance should be reported to the . When lower amounts of direct materials are used because of prodi When the favorable use of raw materials is caused by the purchase of higher-quality raw

The following data relate to the direct materials cost for the production of automobile tires: Actual: 62,200 lbs. at $1.75 per lb. Standard: 61,000 lbs. t $1.70 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negat number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Varunce Direct Materials Quantity Variance Total Direct Materials Cost Variance b. The direct materials price variance should normally be reported to the j efficiencies, the variance would be reported to the materials, the variance should be reported to the . When lower amounts of direct materials are used because of prodi When the favorable use of raw materials is caused by the purchase of higher-quality raw

Name: Direct Materials VariancesThe following data relate to the direct mat
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Description: Direct Materials VariancesThe following data relate to the direct materials cost for the production of automobile tires:Actual: 62,200 lbs. at $1.75 per lb.Standard: 61,000 lbs. t $1.70 per lb..a. Determine the direct materials price variance, direc

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 6EA: Use the information provided to answer the questions. All material purchased was used in production....

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Recompute the variances from the second Acme Inc. exercise using $0.0725 as the standard cost of the material and $14 as the standard labor cost per hour. How has your explanation of the variances changed?
Use the information provided to answer the questions. All material purchased was used in production. A. What is the standard price paid for materials? B. What is the direct materials quantity variance? C. What is the total direct materials cost variance? D. If the direct materials price variance was unfavorable, what would be the standard price?
The following data relate to the direct materials cost for the production of automobile tires: Actual: 56,700 lbs. at $2.05 per lb.Standard: 55,600 lbs. at $2.10 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Line Item Description Amount Variance Direct Materials Price Variance $fill in the blank 1 Direct Materials Quantity Variance $fill in the blank 3 Total Direct Materials Cost Variance $fill in the blank 5
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Direct Materials Variances The following data relate to the direct materials cost for the production of automobile tires: Actual: 53,700 lbs. at $1.75 per lb.Standard: 52,100 lbs. at $1.80 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Line Item Description Amount Variance Direct Materials Price Variance $fill in the blank 1 Direct Materials Quantity Variance $fill in the blank 3 Total Direct Materials Cost Variance $fill in the blank 5
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Direct Materials Variances The following data relate to the direct materials cost for the production of 2,100 automobile tires: Actual: 59,100 lbs. at $1.9 per lb. Standard: 60,300 lbs. at $1.85 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance $fill in the blank 1 Direct Materials Quantity Variance $fill in the blank 3 Total Direct Materials Cost Variance $fill in the blank 5 b. The direct materials price variance should normally be reported to the . If lower amounts of direct materials had been used because of production efficiencies, the variance would be reported to the . If the favorable use of raw materials had been caused by the purchase of higher-quality raw materials, the variance should be reported to the .
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H1. Answer b please