The following standards have been established for a raw material used to make product 084: Standard quantity of the material per unit of output Standard price of the material 8.9 meters $ 19.00 per meter The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output 5,300 meters $ 104,520 5,100 meters 680 units of product 084 The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) a. Materials price variance b. Materials quantity variance

The following standards have been established for a raw material used to make product 084: Standard quantity of the material per unit of output Standard price of the material 8.9 meters $ 19.00 per meter The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output 5,300 meters $ 104,520 5,100 meters 680 units of product 084 The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) a. Materials price variance b. Materials quantity variance

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 3PA: Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes...

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Subject: acounting
Matt Company uses a standard cost system. Information for raw materials for Product RBI for the month of October is as follows: P1.60 Standard unit price P1.55 2,000 units Actual purchase price per unit Actual quantity purchased Actual quantity used 1,900 units 1,800 units Standard quantity allowed for actual production What is the materials purchase price variance?
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The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 4.5 meters $18.80 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output What is the materials price variance for the month? Multiple Choice $14,840 U $8,700 U $5,558 U $8,400 U 8,000 meters $ 158,800 7,300 meters 1,560 units
The standard costs and actual costs for direct materials for the manufacture of 2,780 actual units of product are as follows: Standard Costs Direct materials Direct materials 2,780 kilograms at $8.70 Actual Costs 2,900 kilograms at $8.05 The direct materials quantity variance is Oa. $835 unfavorable Ob. $1,044 unfavorable Oc. $1,044 favorable Od. $835 favorable
01. The following materials standards have been established for the product Wand: JM- Standard quantity per unit of output 10.0 kilograms the Standard price $16.20 per kilogram The following data pertains to operations S Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output ■ Required: What is the materials price variance for the month? 2. What is the materials quantity variance for the month? === .. B M ======= D M BEBE === g 295. = 3 = 7,300 kilograms $120,000 7,122 kilograms 740 units ■ concerning the product Wand for the last month; HUFINAİJA ■ ■ 20-121=0 EXCE HE SIC D 10= ■ Fe
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The standard costs and actual costs for direct materials for the manufacture of 2,640 actual units of product are as follows: Standard Costs Direct materials Direct materials 2,640 kilograms at $8.90 Actual Costs 2,700 kilograms at $8.10 The direct materials quantity variance is Oa. $534 unfavorable Ob. $427 unfavorable Oc. $427 favorable Od. $534 favorable Previous
Data for Product X of Uranus Company are as follows: Direct material standard: 3 square feet at $2.90 per square foot Direct material purchased: 30,000 square feet at $3.10 per square foot Direct material consumed: 28,800 square feet Manufacturing activity: 9,400 units completed The direct-material quantity variance is: O A. $1,740 U. B. $1,860 U. C. $3,550 F. O D. $1,860 F. E. $1,740 F.