o Yealink Company produces a productthat requires 5.0 standard pounds perunit. The standard price is $7.50 perpound. If 30,000 units used 72,000pounds, which were purchased at$8.00 per pound, what is the directmaterials (A) price variance, (B)quantity variance, and (C) costvariance?

MPV = (SR - AR)AQ Where SR = Standard rate = $7.5 per pound AR = actual rate = $8 per pound AQ =…

Answered: o Yealink Company produces a product…

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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A company has established 6 pounds of Material J at $3 per pound as the standard for the material in its Product Z The company has just produced 1200 7,400 pounds of MaterialI J that cost $21,08O.The direct materlals price varlance is: Multiple Cholce $1,120 unfavorable. $600 unfavorable. $1,120 favorable. $600 favorable. $520 favorable.
Alvarado Company produces a product that requires 15 standard pounds per unit. The standard price is $9.00 per pound. If 2,400 units used 34,600 pounds, which were purchased at $9.18 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Line Item Description Amount Variance a. Direct materials price variance $fill in the blank 1 b. Direct materials quantity variance $fill in the blank 3 c. Direct materials cost variance $fill in the blank 5
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Assume the following: • The standard price per pound is $3.00. • The actual quantity of materials purchased is 60,000 pounds. • The actual quantity of materials used in production is 62,000 pounds. • The actual purchase price per pound of materials was $3.10. What is the materials price variance? Multiple Choice O O $6,000 F $6,200 F $6,000 U $6,200 U
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o Yealink Company produces a product that requires 5.0 standard pounds per unit. The standard price is $7.50 per pound. If 30,000 units used 72,000 pounds, which were purchased at $8.00 per pound, what is the direct materials (A) price variance, (B) quantity variance, and (C) cost variance?