A Company has a material standard of 1.1 pound per unit of output. Each pound has a standard price of $25 per pound. During July, A Company paid $118,800 for 5,100 pounds, which they used to produce 4,900 units. What is the direct materials quantity variance?

Myers Corporation has the following data related to direct materials costs for November: actual cost for 4,680 pounds of material at $5.20 and standard cost for 4,470 pounds of material at $6.20 per pound. The direct materials price variance is

Dodge Company produces a single product. The company has set the following standards for materials and labor: Standard quantity or hours per unit Standard price or rate Standard cost per unit Direct Materials ? kilograms ? per kilogram ? Materials price variance Total materials variance Labour efficiency variance During the past month, the company purchased 7,000 kilograms of direct materials at a cost of $26,250. All of this material was used in the production of 1,300 units of product. Direct labor cost totaled $55,125 for the month. The following variances have been computed: Direct Labour 3 hours $15 per hour $45 $1,750 favourable $250 unfavourable $6,000 favourable Required: a) For direct materials, compute the standard price per kilogram, the standard quantity allowed for materials in total for the month's production, and the standard quantity per unit of product. b) For direct labour, compute the actual direct labour cost per hour for the month and the labour rate variance. Show…

Gipple Corporation makes a product that uses a material with the quantity standard of 7.6 grams per unit of output and the price standard of $6.30 per gram. In January the company produced 3,700 units using 25,170 grams of the direct material. During the month the company purchased 27,700 grams of the direct material at $6.50 per gram. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for January is: Multiple Choice $5,624 F $5,540 U $5,624 U $5,540 F