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Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows:
| Actual costs | 1,550 lbs. at $9.10 |
| 1,600 lbs. at $9.00 |
Determine the direct materials (a) quantity variance, (b) price variance, and (c) total cost variance.
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- Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows: Actual costs 1,540 lbs. @ $9.15 Standard costs 1,600 lbs. @ $9.00 Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance. For each variance, indicate if the variance is favorable or unfavorable. (a) (b) (c)Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows: Actual costs 1,450 lbs. @ $8.10 Standard costs 1,500 lbs. @ $8.00 Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance. a. Quantity variance $ b. Price variance $ c. Total direct materials cost variance $Given the following information: 2a) the standard material costs of finished product X are as follows 2kg raw material Y @R10 per kg Actual information Purchases of raw material Y 1000kg @R9, 50 per kg Issues of raw material Y 600 kg Units of product X manufactured 290 units Calculate the following variances in respect of material i) Purchase price variance ( 5) ii) Issue price variance (5) iii) Quantity variance (5) iv) Total material variance if an issue price variance is used (5)
- Based on the following information, calculate the direct materials price variance. Actual costs 3,590 pounds at $8.00 Standard costs 4,100 pounds at $6.00Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows: Actual costs 1,450 lbs. @ $8.10 Standard costs 1,500 lbs. @ $8.00 Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance. a. Quantity variance $fill in the blank 1 b. Price variance $fill in the blank 2 c. Total direct materials cost variance $fill in the blank 3The standard costs and actual costs for direct materials for the manufacture of 1,870 actual units of product are as follows: Standard Costs Direct materials 1,870 kilograms at $8.60 Actual Costs Direct materials 2,000 kilograms at $8.05 The direct materials quantity variance is
- Standard and the actual costs for direct materials and direct labor are given as under:Standard costsDirect materials 8,000 units at total direct material costs Rs. 40,000Direct labor: 7,000 hours at Rs. 6 per hour Actual costsDirect materials 8,500 units at Rs. 4.5 per unitDirect labor: 6,500 hours at Rs. 6.25 per hour Requireda. Material Price Variance and Material Quantity Varianceb. Labor Rate Variance and Labor Efficiency Variance c. Entries in general journal to record the above informationd. What do you realize whether the overall variation is in favorable or unfavorable?Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows: Actual costs 1,450 lbs. @ $8.10 Standard costs 1,500 lbs. @ $8.00 Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance. a. Quantity variance $400 b. Price variance $fill in the blank 2 c. Total direct materials cost variance $fill in the blank 3Assume the following information (the quantity of materials purchased the quantity used): Actual total cost of direct materials Direct materials price variance Standard quantity of materials allowed per unit Standard price per pound of material Standard rate per direct labor hour Actual total direct labor hours Direct labor efficiency variance Standard number of direct labor hours allowed per unit. Direct labor spending variance What is the standard price (SP) per pound of materials? $ 65,560 $ 5,960 U 3 pounds $ 4.00 $ 5.00 6,500 $ 3,500 F 2 hours $ 400 U
- 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 favorableThe standard costs and actual costs for direct materials for the manufacture of 1,870 actual units of product are Standard Costs Direct materials 1,870 kilograms @$8.90 Actual Costs Direct materials 2,000 kilograms @ $8.25 The amount of the direct materials quantity variance isAcme Inc. has the following information available: Actual price paid for material Standard price for material Actual quantity purchased and used in production Standard quantity for units produced Actual labor rate per hour Standard labor rate per hour Actual hours Standard hours for units produced Variance Material Price NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). For the variance conditions, your answer is either "F" (for Favorable) or "U" (for Unfavorable) - capital letter and no quotes. Complete the following table of variances and their conditions: Material Quantity Total DM Cost Variance Labor Rate Labor Efficiency Total DL Cost Variance $1.00 $0.90 100 90 15 14 Variance Amount $ $ 200 190 Favorable (F) or Unfavorable (U)