Information concerning Johnston Company's direct materials costs is as follows:   Standard price per pound $ 6.75   Actual quantity purchased 2,960 pounds Actual quantity used in production 2,860 pounds Units of product manufactured 730   Materials purchase-price variance–favorable $ 885   Budget data for the period:     Units to manufacture 1,030   Units of direct materials 4,120 pounds   The actual purchase price per pound of direct materials was:   Multiple Choice   $7.43.   $6.45.   $6.42.   $7.05.   $6.80.

Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Santiago Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 70,000 units of product were as follows: Line Item Description Standard Costs Actual Costs Direct materials 189,000 lbs. at $4.60 per lb. 187,100 lbs. at $4.40 per lb. Direct labor 17,500 hrs. at $18.30 per hr. 17,900 hrs. at $18.70 per hr. Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 18,260 direct labor hrs.:   Factory overhead    Variable cost, $3.40 $58,910 variable cost Factory overhead    Fixed cost, $5.40 $98,604 fixed cost Each unit requires 0.25 hour of direct labor. Required: a.  Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an…

None

The standard costs and actual costs for direct materials for the manufacture of 2,780 actual units of product are as follows: Standard Costs Direct materials Direct materials 2,780 kilograms at $8.70 Actual Costs 2,900 kilograms at $8.05 The direct materials quantity variance is Oa. $835 unfavorable Ob. $1,044 unfavorable Oc. $1,044 favorable Od. $835 favorable

find materials price variance

Banks Corporation has the following information for direct materials for the latest period. BANKS CORPORATION INFORMATION FOR DIRECT MATERIALS FOR THE LATEST PERIOD Standard price per unit of direct materials Actual price per unit of direct materials Budgeted units of output Standard quantity of direct materials allowed per unit of output Actual units of direct materials used Actual units of direct materials purchased Actual units of output produced SA SA 15.00 $ 16.50 45,000 3 units 40,000 50,000 14,000 The company calculates its price variance based on quantity purchased. What is the direct materials price variance? $60,000 favorable. $60,000 unfavorable.

need help with this question

The following information is available for Swifty's Chocolates: Actual production 2,550 boxes Budgeted production 3,600 boxes Direct Materials Standard Actual 4 pounds of chocolate per box @ $6.00 per pound 8,900 pounds purchased @ $6.10 per pound 9,400 pounds used (a) Calculate the direct materials price and quantity variances. Direct material price variance Direct material quantity variance $ $

Banks Corporation has the following information for direct materials for the latest period. BANKS CORPORATION INFORMATION FOR DIRECT MATERIALS FOR THE LATEST PERIOD Standard price per unit of direct materials Actual price per unit of direct materials Budgeted units of output Standard quantity of direct materials allowed per unit of output Actual units of direct materials used Actual units of direct materials purchased Actual units of output produced SA SA $ 15.00 $ 16.50 45,000 3 units 40,000 50,000 14,000 The company calculates its price variance based on quantity purchased. What was the total quantity of direct materials allowed based on the standards? 45,000. 50,000.

nformation about direct materials cost follows for a local company:          Standard price per materials gram $ 20   Actual quantity used   2,760 grams Standard quantity allowed for production   2,900 grams Price variance $ 19,320 F     Required: What was the actual purchase price per gram?