Scarlett Company purchased and used 7,470 gallons at an actual price of $12.60 to produce 2.050 units. What is the direct materials price variance?

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Larry's Woodworks has collected the following data for its cutting board line of products: K Direct materials standard Direct materials standard cost Actual Direct Materials Used (AQU) Actual finished goods purchased What is the direct materials quantity variance? 10 pounds per unit $0.54 per pound 40,000 pounds 4,100 units OA. $17,860 unfavorable OB. $17,860 favorable OC. $540 unfavorable OD. $540 favorable

The following company information is available. The direct materials quantity variance is: Direct materials used for production 34,000 gallons Standard quantity for units produced 32,300 gallons Standard cost per gallon of direct material $10.00 Actual cost per gallon of direct material $10.10 Multiple Choice $20,400 unfavorable. $17,000 unfavorable. $10,200 unfavorable. $20,400 favorable. $10,200 favorable.

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

Will Co. produces chairs. The standard direct material cost to produce one unit of chair is 4 meters of raw materials at P5.00 per meter. During 2020, 8,400 meters of raw materials were purchased at a cost of P20,160. All the purchased materials were actually used to produce 2,000 units of chairs. 1. Compute the actual price per meter material price and quantity variance and prepare journal entry to record the variance, assuming the price variance is determined at the time of usage.

Assume that the cost formula for one of a company’s mixed expenses is $10,000 + $4.00 per unit. The company’s planned level of activity was 2,000 units and its actual level of activity was 2,200 units. The actual amount of this expense was $18,110. The spending variance for this expense is:

Assume the following: • The standard price per pound is $2.35. • The standard quantity of pounds allowed per unit of finished goods is 4 pounds. • The actual quantity of materials purchased was 53,000 pounds, whereas the quantity of materials used in production was 50,700 pounds. • The actual purchase price per pound of materials was $2.25. • The company produced 13,000 units of finished goods during the period. What is the materials quantity variance? Multiple Choice O о O $3,055 F $5,175 F $2,925 F $5,405 F

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Venneman Company produces a product that requires 5 standard pounds per unit. The standard price is $11.00 per pound. If 2,900 units required 14,900 pounds, which were purchased at $10.45 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a.  Direct materials price variance $fill in the blank 1   b.  Direct materials quantity variance $fill in the blank 3   c.  Total direct materials cost variance $fill in the blank 5