The standard price of materials is $3.6 per pound and the standard quantity allowed for actual output is 5620 pounds. If the actual quantity purchased and used was 5070 pounds, and the actual price per pound was $4.7, the direct materials quantity variance is Indicate whether the variance is F (favorable) or U (Unfavorable) by placing the letter next to the amount. For example, if your answer is 1,000 Favorable, answer 1000F, Do not use a space between the amount and the letter. Show your answer as an absolute number (no negative signs)

The standard price of materials is $3.6 per pound and the standard quantity allowed for actual output is 5620 pounds. If the actual quantity purchased and used was 5070 pounds, and the actual price per pound was $4.7, the direct materials quantity variance is Indicate whether the variance is F (favorable) or U (Unfavorable) by placing the letter next to the amount. For example, if your answer is 1,000 Favorable, answer 1000F, Do not use a space between the amount and the letter. Show your answer as an absolute number (no negative signs)

Name: QUESTION 8VThe standard price of materials is $3.6 per pound and the
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Description: QUESTION 8VThe standard price of materials is $3.6 per pound and the standard quantity allowed for actual output is 5620 pounds. If theactual quantity purchased and used was 5070 pounds, and the actual price per pound was $4.7, the direct materials

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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H1. Answer b please
If the materials price variance is $3300 F and the materials quantity and labor variances are each $1800 U, what is the total materials variance? a.$3300 F b. $1800 U c. $1500 F d. $4050 U
Use the following information to calculate the materials price variance: Direct material purchased and used (kgs) 30,000 Cost of direct material 84,000 Unfavourable direct materials usage variance 3,000 Standard quantity of direct materials allowed for production (kgs) 29,000 Select one: a. $6,000 U b. $2,800 F c. $6,000 F d. $2,800 U
Please help me with show calculation thanku
Material price variance = (Standard price per gram - Actual price per gram) * Actual quantity of material used = (P5 - P6) * 14000 = P14,000 (Unfavourable) Material efficiency variance = (Standard quantity of materials - Actual material quantity used) * Standard price per gram = (12000 - 14000) * 5 = P10,000 (Unfavourable) Total materials cost variance = Materials price variance + Materials efficiency variance = (P14,000) + (P10,000) = P24,000 (Unfavourable) For Direct labour, Standard labour hours allowed for actual production = Actual units produced * Standard hours per unit = 2000 units * 1.8 hours = 3600 hours Direct labour rate variance = (Standard labour rate - Actual labour rate) * Actual labour hours used = (P100 - P97.5) * 4000 = P10,000 (Favourable) Direct labour efficiency variance = (Standard labour hours - Actual labour hours) * Standard labour rate = (3600 - 4000) * 100 = P40,000 (Unfavourable) Total direct labour cost variance = Direct labour rate variance + Direct…
A. 0.20B. 3C. 3.20D. 3.40E. Answer not given
docs.google.com forms/d/e/1FA1PQLSE-rQkh8FZPGnapek0906DigYuMW7PNoioLMsrvBay Question - 2: Short Answers The direct and indirect variances. For Example : 700000 u or 700000 f or 700000 only ?What is the price variance of direct materials -1 Wangsgard Manufacturing has the following standard cost sheet for one of its products: $ 10 Direct materials (2 ft. @ $5) Direct labor (0.5 hr. @ $10) Fixed overhead (0.5 hr. @ $2)' Variable overhead (0.5 hr. @ $4) Standard unit cost 1 $18 *Rate based on expected activity of 2,500 hours During the most recent year, the following actual results were recorded: Production 6,000 units $ 61,100 29,580 Direct materials (11,750 ft. purchased and used) Direct labor (2,900 hrs.) Fixed overhead Variable overhead 6,000 10,500 Refer to the data given in point (1). What is the efficiency variance of direct -2 ?labor AR
DATA Resources' requirements, standard pounds per unit Resources' standard price, per pound Units produced Resources used for production, pounds 2.5 $3.35 15,000 36,900 $3.55 Resources' actual price, per pound Using formulas and cell references, perform the required analysis, and input your an: Amount column. Select the corresponding type of variance in the dropdowns in cells results for the green entry cells (C15:C17) into the appropriate fields in CNOWV2 for Amount |Favorable or Unfavorable a. Direct materials price variance b. Direct materials quantity variance c. Direct materials cost variance Favorable or Unfavorable Favorable or Unfavorable
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Vaibh
Relevant information for material A follows: Actual quantity used Standard quantity allowed Actual price Standard price 6,500 lbs. 6,000 lbs. $3.80 $4.00 What was the direct material quantity variance for material A? $1,900 favorable. $2,000 unfavorable. $1,900 unfavorable. $2,000 favorable.
Use the information provided to answer the questions. Actual Price Paid Per Pound of Material: $14.50 Total Standard Pounds for Units Produced This Period 12,500 Pounds of Material Used 13,250 Direct Material Price Variance Favorable $4,637.50 All material purchased was used in production. A. What is the standard price 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?