The standard product mix for making 12,500 tubes of liquid solder is:Cost/ unitTotal Cost90.00250.00250.00Kgs.Material AMaterial BMaterial C1,500.00625.001,000.000.060.400.25During April, 77,500 tubes were produced from an input of:Kgs.Cost/ unitTotal CostMaterial AMaterial B8,750.003,750.000.0560.3800.280490.001,425.00Material C6,250.001,750.00Compute for the materials yield variance. Indicate whether favorable or unfavorable.

We have to convert standard data to Actual Data Material A 1500 Material B. 625 Material C. 1000…

Answered: naterials yield variance.

Business

Accounting

naterials yield variance.

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 standard product mix for making 12,500 tubes of liquid solder is: Cost/Unit Total Cost Kgs. 1,500,00 Material A 0.06 90 Material B 625 0.40 250 Material C 1,000 0.25 250 During April, 77,500 tubes were produced from an input of: Cost/Unit Kgs. 8,750 Total Cost Material A 0.056 490 Material B 3,750 0.380 1,425 1,750 Material C 6,250 0.280 Compute for the materials yield variance. Indicate whether favorable or unfavorable.
the standard product mix for making 12,500 tubes of liquid solder is: Kgs. Cost/Unit Total Cost Material A 1,500 0.06 90 Material B 625 0.40 250 Material C 1,000 0.25 250 During April, 77,500 tubes were produces from an input of: Kgs. Cost/Unit Total Cost Material A 8,750 0.056 490 Material B 3,750 0.380 1,425 Material C 6,250 0.280 1,750 Compute for the materials yield variance. Indicate whether favorable or unfavorable
Chem Co manufacture a single product, product W, and have provided you with the following information which relates to the period which has just ended.Standard cost per unit of product WMaterials:Material F: 15kgx$4/kg= $60Material G: 12kgx$3/kg=$ 36Material H: 8kgx $6/kg=$ 48Labour:Department P: 4 hours x $10 per hour = $40Department Q: 2 hours x $6 per hour = $12Budgeted sales for the period are 4,500 units at $260 per unit. There were no budgeted opening or closing inventories of product W.The actual materials used were as follows.Materials: Material Price per kiloTotal KilosMaterial F: 59,800kg x $4.25/kg=$254,150Material G: 53,500kg x $2.80/kg= $149,800Material H: 33,300kg x $6.40/kg= $213,1204,100 units of product W were produced and sold for $1,115,800.Required(a) calculate the sales variance(b) comment on your findings to help explain what has happened to the yield variance.
The standard product mix for making 12,500 tubes of liquid solder is: Kgs Cost/unit Total cost Material A 1,500.00 0.06 90.00 Material B 625,000 0.40 250.00 Material C 1,000,000 0.25 250.00 During April, 77,500 tubes were produced from an input of: Kgs Cost/unit Total cost Material A 8,750.00 0.056 490.00 Material B 3,750.00 0.380 1,425.00 Material C 6,250.00 0.280 1,750.00 Compute for the materials yield variance. Indicate whether favorable to unfavorable.
PRESENT YOUR ANSWER AS: 10 FAVORABLE OR 10 UNFAVORABLE. The standard product mix for making 12,500 tubes of liquid solder is: Cost /unit Tolal cost 90.00 Kgs. Material A 1,500.00 0.06 Material B 625.00 0.40 250.00 Material C 1,000.00 0.25 250.00 During April, 77,500 tubes were produced from an input of: Kgs. Cost /unit Total cost Material A 8,750.00 0.056 490.00 0. 380 1,425.00 0. 280 1,750.00 Material B 3,750.00 Material C 6,250.00 Compute for the materials yield variance. Indicate whether favorable or unfavorable.
Bohol Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate $3.10 per kilo $ 19.00 per hour Direct Materials 1.1 Direct Labor 02 Kilos Hours The company reported the following results concerning this product in June. Actual Output Raw materials used in production Actual direct labor hours Purchases of raw materials Actual price of raw materials Actual direct labor rate 148,300 units 160,750 kilos 26,100 hours 140,500 kilos $3.35 per kilo $21.50 per hour a) What was materials price variance for June? b) What was materials quantity variance for June? c) What was the labor rate variance for June? d) What was the labor efficiency variance for June?
Kukrudu Co. Ltd produces three modules of a product namely Hwentsia (H), Prekese (P) andKakaduro (K).The following data related to the products for the period.H K P TotalGH¢‘000 GH¢‘000 GH¢‘000 GH¢‘000Direct Material 150 240 200 590Direct Labour Cost 14.4 24 54 92.4OverheadsMachine settings 26Overhead Processing 64Warehouse Cost 93Energy to run machine 42Shipping 36A consultant, Mr. P. S. Initiative recommended the following after a detailed study of the company’s production process.ACTIVITY COST DRIVER ACTIVITY LEVELH K Pa. Machine setup No. of Production runs 22 34 44b. Sales order processing No. of sales received 400 600 600c. Warehouse cost No of units held in inventory 200 200 400d. Energy Machine Hours 10,000 16,000 24,000e. Shipping No. of Units shipped 1000 4000 10,000It is the policy of the Kukrudu Co. Ltd. to make a profit margin of 25% on its products.Required:Calculate the selling price of each of the three (3) products(all calculations should be to the nearest Ghana cedi).
The following information is provided about three materials utilized in the production of a product: Material Standard Mix Standard Unit Price Standard Cost X 1,250 units $3.00 per unit $3,750 Y 750 units 5.00 per unit $3,750 Z 500 units 4.00 per unit $2,000 Yield 2,250 units During May, the following actual production information was provided: Material Actual Mix X 10,000 units Y 5,000 units Z 2,500 units Yield 15,000 units Yield 15,000 unitsWhat is the Material yield variance. a.$3,167(U) b.$6,333(F) c.$3,167(F) d.$6,333(U)
The standard costs and actual costs for direct materials for the manufacture of 3,000 actual units of product are Actual Material price per pound of direct material Quantity of material in pound per unit of product Actual production untis of product BDMOV (AQ SQ) for Actual Production x SP C DMCV DMPV + DMOV Actual cost per unit of product (AC) Standard costs per unit of product (SC) $8.00 Alternate formula to compute DMCV= (Actual cost-standard cost) per unit x # of units 065 3,000 Required: Compute the followings variances and indicate if they are favorable (F) or unfavorable (UF) A. Direct material Price variance (DMPV) B. Direct matenal Quantity variance (DMQV) C. Total Direct material Cost variance (DMCV) Solution: A.DMPV = (AP-SP) x AQ for Actual Production Standard Variance $ For UF ($1,462 50) F ($5,250.00) F AQ $8.75 SQ 0.45 ($6.712 50) F 1950 1350 Acronyms: AP Actual price per unit of Material SP Standard price per unit of Material AQ-Actual quantity of Material for Actual…
The standard cost card for one unit of a finished product shows the following: Standard Quantity or Hours Standard Price or Rate Direct materials 12 feet $ ? per foot $12 per hour $ 8 per hour Direct labor 1.5 hours Variable manufacturing overhead 1.5 hours If the total standard variable cost for one unit of finished product is $78, then the standard price per foot for direct materials is:
Jackson Company has the following information for the current period for the Mixing Department: Costs of beginning work-in-process: Direct materials Conversion costs Costs added during the period: Direct materials Conversion costs Equivalent units of production for: Direct materials Conversion costs $15,000 26,000 100,000 150,000 12,600 units 9,100 units Using the weighted-average method, what is the cost per equivalent unit for conversion costs? A.$ 3.25 B.$ 9.13 C.$ 19.84 D.S 19.34
Sharp Company manufactures a product for which the following standards have been set:Standard Quantity Standard Price Standardor Hours or Rate CostDirect materials .............. 3 feet $5 per foot $15Direct labor .................... ? hours ? per hour ?During March, the company purchased direct materials at a cost of $55,650, all of which were usedin the production of 3,200 units of product. In addition, 4,900 hours of direct labor time were worked onthe product during the month. The cost of this labor time was $36,750. The following variances have beencomputed for the month:Direct materials quantity variance .......... $4,500 UTotal direct labor variance ...................... $1,650 FDirect labor efficiency variance ................ $800 URequired:1. For direct materials:a. Compute the actual cost per foot for materials for March.b. Compute the materials price variance and a total variance for materials.2. For direct labor:a. Compute the standard direct labor rate per hour.b.…