Shelley Company bought 3,000 pounds of materials for $2. 1,000 units of output. Direct labor costs totaled $20,400 f 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

ces Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards fo one unit of Zoom are given below: Direct materials Direct labor Standard Quantity or Hours 4.6 pounds 0.2 hours Materials price variance Materials quantity variance Standard Price or Rate $ 2.50 per pound $18.00 per hour During the most recent month, the following activity was recorded: a. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound. b. The company produced only 3,000 units, using 14,750 pounds of material. (The rest of the material purchased remained in raw materials inventory.) c. 750 hours of direct labor time were recorded at a total labor cost of $14,925. Standard Cost $ 11.50 $ 3.60 Required: Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive…

Oxford Company has a materials standard of 2.1 pounds per unit of output. Each pound has a standard price of $12 per pound. During February, Oxford Company paid $64,220 for 4,940 pounds at $13 per pound, which were used to produce 2,500 units of product. What is the direct materials price variance? Multiple Choice $2,600 favorable $5,040 favorable $2,500 unfavorable

April Corporation developed the following per-unit standards for its product: 2 pounds of direct materials at $3.75 per pound. Last month, 2,000 pounds of direct materials were used to produce 900 units of product. The direct materials usage variance for last month was: Multiple Choice $200 favorable. $750 unfavorable. $1,800 favorable. $200 unfavorable.