Direct Materials: Direct materials mean those materials which can be directly identified with the manufacturing of a particular product. Cost of direct materials is a manufacturing cost . Direct materials are used in the process of making finished products. Direct Material Standard Cost : Direct material standard cost is calculated by multiplying direct material units into direct material cost per unit. Direct Material Cost Variance: Direct material cost variance is that disparity between actual cost of direct materials and budgeted cost of direct materials. Total Actual Cost of Direct Materials Used: Total actual cost of direct materials used means the total of actual cost incurred on direct materials. To identify: Total actual cost of direct materials used.

Question

Want to see the full answer?

Answer 1

Question

Chapter 21, Problem 2MCQ

To determine

Direct Materials:

Direct materials mean those materials which can be directly identified with the manufacturing of a particular product. Cost of direct materials is a manufacturing cost. Direct materials are used in the process of making finished products.

Direct Material Standard Cost:

Direct material standard cost is calculated by multiplying direct material units into direct material cost per unit.

Direct Material Cost Variance:

Direct material cost variance is that disparity between actual cost of direct materials and budgeted cost of direct materials.

Total Actual Cost of Direct Materials Used:

Total actual cost of direct materials used means the total of actual cost incurred on direct materials.

To identify: Total actual cost of direct materials used.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 2

Question

Chapter 21, Problem 2MCQ

To determine

Direct Materials:

Direct materials mean those materials which can be directly identified with the manufacturing of a particular product. Cost of direct materials is a manufacturing cost. Direct materials are used in the process of making finished products.

Direct Material Standard Cost:

Direct material standard cost is calculated by multiplying direct material units into direct material cost per unit.

Direct Material Cost Variance:

Direct material cost variance is that disparity between actual cost of direct materials and budgeted cost of direct materials.

Total Actual Cost of Direct Materials Used:

Total actual cost of direct materials used means the total of actual cost incurred on direct materials.

To identify: Total actual cost of direct materials used.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 21, Problem 2MCQ

To determine

Direct Materials:

Direct materials mean those materials which can be directly identified with the manufacturing of a particular product. Cost of direct materials is a manufacturing cost. Direct materials are used in the process of making finished products.

Direct Material Standard Cost:

Direct material standard cost is calculated by multiplying direct material units into direct material cost per unit.

Direct Material Cost Variance:

Direct material cost variance is that disparity between actual cost of direct materials and budgeted cost of direct materials.

Total Actual Cost of Direct Materials Used:

Total actual cost of direct materials used means the total of actual cost incurred on direct materials.

To identify: Total actual cost of direct materials used.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 21, Problem 2MCQ

To determine

Direct Materials:

Direct materials mean those materials which can be directly identified with the manufacturing of a particular product. Cost of direct materials is a manufacturing cost. Direct materials are used in the process of making finished products.

Direct Material Standard Cost:

Direct material standard cost is calculated by multiplying direct material units into direct material cost per unit.

Direct Material Cost Variance:

Direct material cost variance is that disparity between actual cost of direct materials and budgeted cost of direct materials.

Total Actual Cost of Direct Materials Used:

Total actual cost of direct materials used means the total of actual cost incurred on direct materials.

To identify: Total actual cost of direct materials used.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 21, Problem 2MCQ

To determine

Direct Materials:

Direct materials mean those materials which can be directly identified with the manufacturing of a particular product. Cost of direct materials is a manufacturing cost. Direct materials are used in the process of making finished products.

Direct Material Standard Cost:

Direct material standard cost is calculated by multiplying direct material units into direct material cost per unit.

Direct Material Cost Variance:

Direct material cost variance is that disparity between actual cost of direct materials and budgeted cost of direct materials.

Total Actual Cost of Direct Materials Used:

Total actual cost of direct materials used means the total of actual cost incurred on direct materials.

To identify: Total actual cost of direct materials used.

Answer 6

Chapter 21, Problem 2MCQ

To determine

Direct Materials:

Direct materials mean those materials which can be directly identified with the manufacturing of a particular product. Cost of direct materials is a manufacturing cost. Direct materials are used in the process of making finished products.

Direct Material Standard Cost:

Direct material standard cost is calculated by multiplying direct material units into direct material cost per unit.

Direct Material Cost Variance:

Direct material cost variance is that disparity between actual cost of direct materials and budgeted cost of direct materials.

Total Actual Cost of Direct Materials Used:

Total actual cost of direct materials used means the total of actual cost incurred on direct materials.

To identify: Total actual cost of direct materials used.

Answer 7

Chapter 21, Problem 2MCQ

To determine

Direct Materials:

Direct materials mean those materials which can be directly identified with the manufacturing of a particular product. Cost of direct materials is a manufacturing cost. Direct materials are used in the process of making finished products.

Direct Material Standard Cost:

Direct material standard cost is calculated by multiplying direct material units into direct material cost per unit.

Direct Material Cost Variance:

Direct material cost variance is that disparity between actual cost of direct materials and budgeted cost of direct materials.

Total Actual Cost of Direct Materials Used:

Total actual cost of direct materials used means the total of actual cost incurred on direct materials.

To identify: Total actual cost of direct materials used.

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 21 - Prob. 1MCQ Ch. 21 - Prob. 2MCQ Ch. 21 - Prob. 3MCQ Ch. 21 - A Company’s standard for a unit of its single...Ch. 21 - Prob. 5MCQ Ch. 21 - Prob. 1DQ Ch. 21 - Prob. 2DQ Ch. 21 - Prob. 3DQ Ch. 21 - Prob. 4DQ Ch. 21 - Prob. 5DQ

Concept explainers

Videos

Want to see the full answer?

Chapter 21 Solutions