Solve the problem The standard costs and actual costs for directmaterials for the manufacture of 2,500 actual units ofproduct are:Standard Costs:Direct materials - 2,500 kilograms @ $8.50Actual Costs:Direct materials - 2,603 kilograms @ $8.75The amount of the direct materials quantity varianceis?

Direct material quantity variance = (Standard quantity allowed - Actual quantity used) x Standard…

Answered: The standard costs and actual costs for…

Managerial Accounting

15th Edition

ISBN:9781337912020

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

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

Chapter6: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 2DQ: Which of the following costs would be classified as variable and which would be classified as fixed,...

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The standard material costs of finished product PEP are as follows: 2 kg raw material A @ R10 per kg Actual information: Purchase of raw material A 2 000 kg @ R9.50 per kg Issue of raw material A 1 200 kg Units of product PEP manufactured 280 units Required Calculate the following in respect of material A (a) Purchase price variance (3) (b) Issue price variance (c) Quantity variance (d) Total variance.
Based on the following information, calculate the direct materials price variance. Actual costs 3,590 pounds at $8.00 Standard costs 4,100 pounds at $6.00
Standard and the actual costs for direct materials and direct labor are given as under: Standard costs Direct materials8,000 units at Rs. 5 per unit Direct labor:7,000 hours at Rs. 6 per hour Actual costs Direct materials8,500 units at Rs. 4.5 per unit Direct labor:6,500 hours at Rs. 6.25 per hour Required f. Material Price Variance and Material Quantity Variance g. Labor Rate Variance and Labor Efficiency Variance h. Entries in general journal to record the above information
Assume the following: • The standard price per pound is $3.00. • The actual quantity of materials purchased is 60,000 pounds. • The actual quantity of materials used in production is 62,000 pounds. • The actual purchase price per pound of materials was $3.10. What is the materials price variance? Multiple Choice O O $6,000 F $6,200 F $6,000 U $6,200 U
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The standard costs and actual costs for direct materials for the manufacture of 1,870 actual units of product are Standard Costs Direct materials 1,870 kilograms @$8.90 Actual Costs Direct materials 2,000 kilograms @ $8.25 The amount of the direct materials quantity variance is
Assume the following information (the quantity of materials purchased the quantity used): Actual total cost of direct materials Direct materials price variance Standard quantity of materials allowed per unit Standard price per pound of material Standard rate per direct labor hour Actual total direct labor hours Direct labor efficiency variance Standard number of direct labor hours allowed per unit. Direct labor spending variance What is the standard price (SP) per pound of materials? $ 65,560 $ 5,960 U 3 pounds $ 4.00 $ 5.00 6,500 $ 3,500 F 2 hours $ 400 U
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possible Standard material cost per kg of raw material is $8.75. Standard material allowed per unit is 6 Kg. Actual material used per unit is 6.25 Kg. Actual cost per kg is $8.00. What is the standard cost per output unit? O A. $48.00 B. $52.50 C. $50.00 D. $54.69 A: S Next
The standard costs and actual costs for direct materials for the manufacture of 3,000 actual units of product are as follows: Standard CostsDirect materials 1,040 kilograms at $8.75 Actual CostsDirect materials 2,000 kilograms at $8.00 The direct materials price variance is a.$2,750 unfavorable b.$2,750 favorable c.$1,500 favorable d.$1,500 unfavorable
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The standard costs and actual costs for direct materials for the manufacture of 2,500 actual units of product are: Standard Costs: Direct materials - 2,500 kilograms @ $8.50 Actual Costs: Direct materials - 2,603 kilograms @ $8.75 The amount of the direct materials quantity variance is ?