/review.php?attempt3D2208688cmid%3D185344Cox Company's direct material costs for the month of January were as follows:Actual unit purchase price$3.60per kilogram$3,600FavorableDirect materials price varianceStandard quantity allowed for actual production 16,000kilogramsActual quantity usedkilogramsWhat is the direct materials quantity variance for January?Select one:none of these$7,600 Fere to search直。

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Description: /review.php?attempt3D2208688cmid%3D185344Cox Company's direct material costs for the month of January were as follows:Actual unit purchase price$3.60per kilogram$3,600FavorableDirect materials price varianceStandard quantity allowed for actual produ

Actual Quantity = 18000 kilogram Standard Quantity = 16000 kilogram Actual Price = $3.60 per…

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Business

Accounting

What is the direct materials quantity variance for January?

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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The direct labor rate variance is calculated by multiplying the standard hours that should have been worked for the actual output by the difference between the standard labor rate and the actual labor rate. O True O False
Wilson Manufacturing has provided you with the following variances for the month of March: Direct materials price variance Direct materials quantity variance Direct labor rate variance Direct labor efficiency variance Required: $3,230 Favorable (4,700) Unfavorable (3,900) Unfavorable (9,500) Unfavorable a. Calculate the direct materials spending variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). b. Calculate the direct labor spending variance Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). a. Direct materials spending variance b. Direct labor spending variance
If the materials price variance is $3,600 F and the materials quantity and labor variances are each $2,700 U, what is the total materials variance?
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Example: Using the direct labor standards for the production process at Hardrock Quarry, Inc. as above: Required: Compute the following variances for Hardrock Quarry, Inc. for the month of August: 1. Direct labor yield variances for the individual labor categories and for the total output. 2. Direct labor mix variances for the individual labor categories and for the total output.
The labor efficiency variance is the difference between the actual quantity of hours at the standard rate and the standard direct labor hours at the standard rate. A. True B. False
Required: 1. Calculate Suds & Cuts direct materials variances for both shampoo and water for the month of July. 2. Calculate Suds & Cuts direct labor variances for the month of July.
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Assume the labor rate variance is $400 unfavorable and the labor spending variance is $200 unfavorable. Given these assumptions, which of the following statements is true? Multiple Choice The labor efficiency variance must be $600 favorable. The labor efficiency variance must be $600 unfavorable. The labor efficiency variance must be $200 favorable. The labor efficiency variance must be $200 unfavorable.
Based on the following, what is the total direct materials variance? Total Product Cost Flexible Budget Variance (a) Total Direct Materials Variance (b) Total Direct Labor Variance Total Manufacturing Overhead Variance (d) Direct Materials Direct Materials Direct Labor Direct Labor Total Variable Total Fixed Cost Efficiency Efficiency Variance Variance Cost Variance Variance Overhead Variance Overhead Variance $300 F $150 U $450 U $500 F (e) Variable Overhead Cost Variance $350 U Variable Overhead Efficiency Variance $425 F Fixed Overhead Cost Variance $650 F OA. $300 U OB. $150 U OC. $150 F OD. $300 F