Sheffield has a standard of 1.5 pounds of materials per unit, at $8 per pound. In producing 3100 units, Sheffield used 4750 pounds of materials at a total cost of $37335. Sheffield's materials quantity variance is O $665 U. O $1400 U. O $135 F. O $800 U. 3 Ĉ Sheffield has a standard of 1.5 pounds of materials per unit, at $8 per pound. In producing 3100 units, Sheffield used 4750 pounds of materials at a total cost of $37335. Sheffield's materials quantity variance is

Edgar, Inc. has a materials price standard of $1.75 per pound. eight thousand pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 4,000 pounds, although the standard quantity allowed for the output was 5,400 pounds.   Calculate the materials price variance

April Industries employs a standard costing system in the manufacturing of its sole product, a park bench. They purchased 50,000 feet of raw material for $200,000, and it takes 6 feet of raw materials to produce one park bench. In August, the company produced 11,000 park benches. The standard cost for material output was $132,000, and there was an unfavorable direct materials quantity variance of $5,000. A. What is April Industries’ standard price for one unit of material? Standard cost per unit $fill in the blank 1 B. What was the total number of units of material used to produce the August output? Actual quantity feet fill in the blank 2 Units C. What was the direct materials price variance for August? Direct materials price variance $ fill in the blank 3

Your Company’s materials quantity variance was $24,000 favorable. The standard cost per pound is $12.00 and 30 pounds are allowed for each unit of output. Records show that 46,500 pounds of material were used. How many units of output were actually produced?

Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours 3 feet ? hours Direct materials Direct labor Standard Price Standard or Rate Cost $ 15 ? Materials quantity variance Labor spending variance Labor efficiency variance $5 per foot ? per hour During March, the company purchased direct materials at a cost of $53,730, all of which were used in the production of 2,875 units of product. In addition, 4,700 direct labor-hours were worked on the product during the month. The cost of this labor time was $37,600. The following variances have been computed for the month: $ 1,650 U $ 3,100 U $ 750 U Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance. 2. For direct labor: a. Compute the standard direct labor rate per hour. b. Compute the standard hours allowed for the month's production. c. Compute the standard hours allowed per unit of…

The standard cost card for product Alpha is as follows:       £ Direct material 5kg@ £11.50 per kg 57.50 Direct Labour 4 labour hours @£9 per hour 36.00     93.50 In the period just ended 3,000 units were produced and costs were incurred as follows:     Quantity Cost (£) Direct material 15900kg 180465 Direct labour 11550 hours 106260     286725 Required: Calculate the direct materials price variance for product Alpha. Calculate the direct labour rate variance for product Alpha. Explain the factors that need to be taken into account when deciding to investigate a variance.

A product has budgeted production of 1,000 units and a material cost of £14,000; the standard cost card allows for £7 per kg. In the period, 2,500 kg were purchased at a cost of £18,750 and used to produce 1,250 units.   What were the material price and usage variances?

Shelley Company bought 3,000 pounds of materials for $2,850. They used 2,800 pounds to produce 1,000 units of output. Direct labor costs totaled $20,400 for 600 hours of work. Standards have been set as follows: Direct Materials: 2 pounds @ $1.10 per pound Direct Labor: .5 hours @ $32 per hour The materials purchase price variance is: $420 unfavorable O $420 favorable O $450 unfavorable O $450 favorable O $230 favorable

Vaughn has a standard of 2 hours of labor per unit, at $12 per hour. In producing 3400 units, Vaughn used 6500 hours of labor at a total cost of $79300. Vaughn's labor quantity variance is $3660 F. $1300 F. $1300 U. $3600 F.

Bonita has a standard of 2 hours of labor per unit, at $20 per hour. In producing 3200 units, Bonita used 6250 hours of labor at a total   cost of $125770. Bonita's total labor variance is   $2230 F.   O$2230 U.   $3018 F.   $1400 U