Auto Suppliers Inc. provides the following standard and actual costs for direct materials to produce 3,000 units of product: Quantity for actual production Price per lb. Standard 2,100 lbs. $5.70 Actual 2,900 lbs. $5.20 Determine the direct material quantity variance. Group of answer choices -$1,450 favorable $4,560 unfavorable $3,110 unfavorable -$4,560 favorable

Auto Suppliers Inc. provides the following standard and actual costs for direct materials to produce 3,000 units of product: Quantity for actual production Price per lb. Standard 2,100 lbs. $5.70 Actual 2,900 lbs. $5.20 Determine the direct material quantity variance. Group of answer choices -$1,450 favorable $4,560 unfavorable $3,110 unfavorable -$4,560 favorable

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 3PA: Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes...

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Auto Suppliers Inc. provides the following standard and actual costs for direct materials to produce 3,000 units of product: Standard and Actual Costs Data Quantity for actual production Price per lb. Standard 2,100 lbs. $5.70 Actual 2,900 lbs. $5.20 Determine the direct material price variance. Group of answer choices -$1,450 favorable $3,110 unfavorable -$3,110 favorable $1,450 unfavorable
Auto Suppliers Inc. provides the following standard and actual costs for direct materials to produce 3,000 units of product: Standard and Actual Costs Data Quantity for actual production Price per lb. Standard 2,100 lbs. $5.70 Actual 2,900 lbs. $5.20 Determine the direct material cost variance. Group of answer choices -$3,110 favorable $3,110 unfavorable $4,560 unfavorable -$4,560 favorable
A company reports the following for one of its products. Direct materials standard (3 pounds @ $3 per pound) Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used AQ Actual Quantity SQ = Standard Quantity AQ AP Actual Price SP Standard Price Compute the direct materials price and quantity variances and identify each as favorable or unfavorable. Actual Cost AP 0 $ 0 $ AQ 0 $ 9 per unit 250,000 pounds 60,000 units X $ 687,500 SP $ 0 SQ Standard Cost x SP
Jenny Company's direct material costs are as follows: Standard unit price - $3.60 Actual quantity purchased 1,600 Standard quantity allowed for actual production 1,450 Materials purchase price variance - favorable $240 Compute the actual purchase price per unit.
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