Standard Quantity or Hours Direct materials 3 feet ? hours Standard Price or Rate $ 11 per foot ? per hour Standard Cost $ 33 ? Direct labor During March, the company purchased direct materials for $111,300, all of which were used in the production of 3.200 units. In addition, 4,900 direct labor-hours were worked on the product during the month. The cost of this labor time was $95,550. The following variances have been computed for the month: Materials quantity variance Labor spending variance Labor efficiency variance Required: 1. For direct materials: $ 4,400 U $ 450 F $ 2,000 U 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 product. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2 For direct materials, compute the actual cost per foot of materials for March. Note: Round your answer to 2 decimal places. Actual cost per foot Required 1A Required 1B >

The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 4.9 pounds $13.70 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 5,550 pounds $63,380 5,050 pounds 750 units The direct materials purchases variance is computed when the materials are purchased. What is the materials quantity variance for the month? Multiple Choice $5,710 U $15,702 U $18,838 U $6,850 U

A manufactured product has the following information for June. Standard Actual Direct materials 7 lbs. @ $9 per lb. 55,000 lbs. @ $9.10 per lb. Direct labor 2 hrs. @ $15 per hr. 15,200 hrs. @ $15.50 per hr. Overhead 2 hrs. @ $12 per hr. $ 192,300 Units manufactured 7,800 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers

Pittman Framing's cost formula for its supplies cost is $1,120 per month plus $12 per frame. For the month of November, the company planned for activity of 610 frames, but the actual level of activity was 602 frames. The actual supplies cost for the month was $8,600. The spending variance for supplies cost in November would be closest to: Multiple Choice O $160 U $256 F $256 U $160 F

Pittman Framing's cost formula for its supplies cost is $1,220 per month plus $11 per frame. For the month of November, the company planned for activity of 620 frames, but the actual level of activity was 612 frames. The actual supplies cost for the month was $7,650. The spending variance for supplies cost in November would be closest to: Multiple Cholce $390 F $390 U $302 U $302 F

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Question Grant Company's standard materials cost per unit of output is $10.00 (2.00 pounds x $5.00 per pound). During July, the company purchases and uses 2,420 pounds of materials costing $12,826 in making 1,100 units of finished product. Compute the total material variance. O $726 unfavorable O $1,826 favorable O $2,926 unfavorable O $1,826 unfavorable

Current Attempt in Progress Blossom Company's standard labor cost of producing one unit of Product DD is 3.40 hours at the rate of $10.50 per hour. During August, 42,900 hours of labor are incurred at a cost of $10.70 per hour to produce 12,400 units of Product DD. (a) Compute the total labor variance. Total labor variance $ (b) Compute the labor price and quantity variances. Labor price variance Labor quantity variance $ (c) $ Labor price variance 16350 Compute the labor price and quantity variances, assuming the standard is 3.6 hours of direct labor at $10.85 per hour. $ Labor quantity variance $ Unfavorable

The standard cost of Product B includes 3 units of Direct Material at $5.00 per unit. During January, 29,000 units of direct material are purchased and used. The units of Direct material cost $4.75 per unit. The company produced 9,300 units. A. Calculate the Direct Material price varianceB. Calculate the Direct Material quantity varianceC. Calculate the Total Direct Material cost variance

Your Company’s cost formula for its wages and salaries is $2,500 per month plus $475 per unit sold. For the month of May, the company planned for activity of 115 units, but the actual level of activity was 120 units. The actual wages and salaries for the month was $56,850. What is the spending variance for wages and salaries in May?   Group of answer choices $275 F $2,650 U                      $275 U               $2,650 F