Gipple Corporation makes a product that uses a material with the quantity standard of 7.5 grams per unit of output and the price standard of $6.20 per gram. In January the company produced 3,600 units using 25,070 grams of the direct material. During the month the company purchased 27,600 grams of the direct material at $6.30 per gram. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for January is: Multiple Choice O $2,700 F $2,760 U $2,700 U $2,760 F

Kingbird Company has determined that the standard cost to manufacture its product includes 2 units of direct materials at $6.00 per unit. During January, the company purchased 50,400 units of direct materials at a cost of $5.90 per unit and used 50,400 units of direct materials to produce 23,300 units of its product. Calculate the total materials variance, and the price and quantity variances. Materials Variance Materials Price Variance Materials Quantity Variance 69 $ 5040 Unfavourable Favourable Unfavourable

Please answer both questions.

Sheffield Company's standard materials cost per unit of output is $8.20 (2.00 pounds x $4.10). During July, the company purchases and uses 2,700 pounds of materials costing $14,580 in making 1,500 units of finished product. Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.) Total materials variance $ Materials price variance Materials quantity variance $ %24 %24

Simba Company's standard materials cost per unit of output is $9.00 (2.00 pounds x $4.50). During July, the company purchases and uses 3,080 pounds of materials costing $16,632 in making 1,400 units of finished product. Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.) Total materials variance $ Materials price variance $ Materials quantity variance $ %24 %24

The standard cost of Product B manufactured by Pharoah Company includes 2.6 units of direct materials at $5.30 per unit. During June, 27,400 units of direct materials are purchased at a cost of $5.05 per unit, and 27,400 units of direct materials are used to produce 10,400 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance $ Materials price variance $ Materials quantity variance $ (b) Compute the total materials variance and the price and quantity variances, assuming the purchase price is $5.40 and the quantity purchased and used is 26,900 units. Total materials variance $ Materials price variance $ Materials quantity variance $

The standard cost of product B manufactured by Waterway Company includes 3 units of direct materials at $5.55 per unit. During June, the company purchases 29,000 units of direct materials at a cost of $5.22 per unit and uses 29,000 units of direct materials to produce 9,500 units of product B. Calculate the materials variance, and the price and quantity variances, assuming the purchase price is $5.72 and the quantity purchased and used is 28,000 units. Materials variance Materials price variance Materials quantity variance

marigold corp.'s variance report for the purchasing department reports 2000 units of material a purchase and 2800 units of material b purchased. it also reports standard prices of $2 for material a and $3 for material b. actual prices reported are $2.10 for material a and $2.80 for material b marigold should report a total price variance of

The standard cost for the David Company's product is 5 pounds of materials for each unit of product at a cost of $25 per pound. During December, 301,600 pounds of materials were purchased and used to produce 58,000 units of product. The materials cost the company $24 per pound. Compute the Materials Price Variance and Materials Quantity Variance

Starts Inc. produces a product for which the standard specifies 8 yards of material per unit. The standard price of one yard of material is $8.50. During the month, 7,400 products were manufactured, using 57,900 yards at a cost of $8.30 per yard. ​ Determine the (a) direct materials price variance, (b) direct materials quantity variance, and (c) total direct materials cost variance. (d) perform the journal entries to record the variances