The standard materials cost to produce 1 unit of Product R is 4 pounds of material at a standard price of $40 per pound. In manufacturing 8,000 units, 31,000 pounds of material were used at a cost of $41 per pound. What is the total direct materials cost variance? A. $9,000 favorable. B. $41,000 favorable. C. $32,000 unfavorable. D. $9,000 unfavorable. E. $41,000 unfavorable.

The standard materials cost to produce 1 unit of Product R is 4 pounds of material at a standard price of $40 per pound. In manufacturing 8,000 units, 31,000 pounds of material were used at a cost of $41 per pound. What is the total direct materials cost variance? A. $9,000 favorable. B. $41,000 favorable. C. $32,000 unfavorable. D. $9,000 unfavorable. E. $41,000 unfavorable.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

See similar textbooks

Similar questions

The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
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
PRESENT YOUR ANSWER AS: 10 FAVORABLE OR 10 UNFAVORABLE. The standard product mix for making 12,500 tubes of liquid solder is: Cost /unit Tolal cost 90.00 Kgs. Material A 1,500.00 0.06 Material B 625.00 0.40 250.00 Material C 1,000.00 0.25 250.00 During April, 77,500 tubes were produced from an input of: Kgs. Cost /unit Total cost Material A 8,750.00 0.056 490.00 0. 380 1,425.00 0. 280 1,750.00 Material B 3,750.00 Material C 6,250.00 Compute for the materials yield variance. Indicate whether favorable or unfavorable.
Direct materials = $10 per unitDirect labor = $5 per unitVariable manufacturing overhead = $2 per unitFixed manufacturing overhead = $1,000Units produced is 1,000 units What is the cost per unit using the absorption method? What is the cost per unit using the variable method?
Please provide this question solution general accounting
The standard cost card for one unit of a finished product shows the following: Standard Quantity or Hours Standard Price or Rate Direct materials 12 feet $ ? per foot $12 per hour $ 8 per hour Direct labor 1.5 hours Variable manufacturing overhead 1.5 hours If the total standard variable cost for one unit of finished product is $78, then the standard price per foot for direct materials is:
Bramble's standard quantities for 1 unit of product include 3 pounds of materials and 1.0 labor hours. The standard rates are $3 per pound and $5 per hour. The standard overhead rate is $10 per direct labor hour. The total standard cost per unit of Bramble's product is O $24.00. O $18.00. O $15.00. O $14.00.
Information about direct materials cost follows for a local company: Standard price per materials gram $ 15 Actual quantity used 2,250 grams Standard quantity allowed for production 2,400 grams Price variance $ 13,500 F Required: What was the actual purchase price per gram?
Below is the information about Rexford Corporation’s direct material cost. Standard price of direct material per ounce $35 per ounce Actual quantity of materials purchased 420 ounces Actual quantity of materials used 400 ounces Standard quantity allowed for actual output 360 ounces Direct material price variance $2,100 Unfavorable What is the actual price paid by Rexford to purchase an ounce of direct material? Group of answer choices $31.5 $35 $30 $40
Q.5) The estimated costs of producing 6,000 units of a component are: Total Per Unit Direct Material Direct Labor Applied Variable Factory Overhead Applied Fixed Factory Overhead ($1.5 per direct labor dollar) $10 $60,000 48,000 54,000 72,000 9. 12 $39 $234,000 The same component can be purchased from market at a price of $29 per unit. If the component is purchased from market, 25% of the fixed factory overhead will be saved. Required: Decide whether to make this product or buy this product from the market. Show computations.
Webber fabricating estimated the following solve this question ❓
A standard cost card for one unit of a product may look like the following: Direct materials (4 pounds @ $1.25 per pound) $5.00 Direct labor (0.1 DLH @ $18 per hour) 1.80 Variable overhead (0.1 DLH @ $2.00 per hour) 0.20 Fixed overhead (0.1 DLH @ $4.60 per hour) 0.46 Total cost per unit $7.46 The standard cost to produce one unit is $7.46. The standard cost to produce 600 units are $ Of course, this is a simplification as the standard cost does not take fixed and variable costs into account. However, if the firm is producing at or near capacity, then the cost per unit of $7.46 could be multiplied by total units to get total standard cost. The standard cost card gives both unit and cost standards. The direct materials total of $5.00 is based on the use of four pounds of material at $1.25 per pound. Similarly, it should take six minutes (0.1 direct labor hour) to produce one unit. This makes it easy to determine total quantities and cost would be for multiple units. If 400 units were…