Vista Manufacturing Co. has a standard material requirement of 3.5 pounds per unit at $3.20 per pound. In August, it produced 1,400 units, used 4,800 pounds, and incurred a material cost of $14,880. Compute the total, price, and quantity variances.
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- Primary Co. has a standard materials price of $4.00 per pound and a standard direct labor rate of $18.00 per hour. Primary's actual direct materials price was $4.10 per pound and paid direct labor of $17.50 per hour. Assume an actual materials usage of 26,000 pounds and actual labor totaling 8,000 hours. A. Calculate the direct materials price variance. Indicate whether the variance is favorable or unfavorable. B. Calculate the direct labor rate variance. Indicate whether the variance is favorable or unfavorable.The following data relate to a product manufactured by Kent Corporation: Direct material standard: 3.5 square feet at $2.50 per square foot Direct material purchased & used: 33,000 square feet at $2.60 per square foot Manufacturing activity: 9,600 units completed SHOW ALL COMPUTATIONS Compute price variance, quantity variance, direct material variance.Sunny Corporation has collected the following data for one of its products: Direct materials standard (3 pounds per unit @ $0.40/lb.) Actual direct materials purchased Actual Direct Materials Used (AQU) Actual Price (AP) paid per pound How much is the direct materials price variance? O A. $1,610 unfavorable B. $2,240 favorable C. $1,610 favorable O D. $2,240 unfavorable $1.20 per finished good 32,000 pounds 23,000 pounds $0.47
- The standard direct material cost per unit for Willis Group was $152 (= $38 per gallon × 4 gallons per unit). During the period, actual direct materials costs amounted to $2,020,690, materials used totaled 55,475 gallons, and 13,270 units were produced. Required: Compute the direct materials price and efficiency variances for the period. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.The standard direct material cost per unit for Willis Group was $180 (= $45 per gallon x 4 gallons per unit). During the period, actual direct materials costs amounted to $2,406,390, materials used totaled 55,510 gallons, and 13,340 units were produced. Required: Compute the direct materials price and efficiency variances for the period. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Price variance Efficiency varianceCan you explain this general accounting question using accurate calculation methods?
- Can you help me with general accounting question?Sheridan Zone Corporation experienced the following variances: materials price $390 U, materials quantity $1,870 F, labor price $880 F, labor quantity $550 F, and total overhead $1,320 U. Sales revenue was $101,300, and cost of goods sold (at standard) was $56,800.Determine the actual gross profit. Actual gross profitA manufacturing company reports the following for one of its products. Compute the direct materials (a) price variance and (b) quantity variance and classify each as favorable or unfavorable.
- Precision Tools Inc. has the following information related to its direct materials usage: Standard Quantity: 120,000 units Actual Quantity: 140,000 units Standard Price: $2.50 per unit Actual Price: $2.80 per unit A. Calculate the materials price variance and state whether it is favorable or unfavorable. B. Calculate the materials usage variance and state whether it is favorable or unfavorable.Please explain the solution to this general accounting problem with accurate principles.What is Dant's gross profit at Standard