The following materials standards have been established for a particular product: Standard quantity per unit of output 5.4 pounds Standard price $14.20 per pound The following data pertain to operations concerning the product for the last month: 6,300 pounds Actual materials purchased Actual cost of materials $63,880 purchased Actual materials used in 5,800 pounds production Actual output 800 units The direct materials purchases variance is computed when the materials are purchased. What is the materials quantity variance for the month? Multiple Choice • $5,070 U $15,007 U $21,016 U $7,100 U

Nisqually Corporation has established the following labor standards for a particular product: Standard labor-hours per unit of output 8.3 hours Standard labor rate $12.10 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 6,100 hours A Actual total labor cost $71,370 Actual output 900 units What is the labor efficiency variance for the month? Your instructor has provided the following variance formulas for you: Direct Labor Variances AH(AR - SR) SR(AH - SH) Labor Rate Variance: Labor Efficiency Variance:

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Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,670 pounds of material at $5.20 and standard costs for 4,460 pounds of material at $6.20 per pound. The direct materials quantity variance is

The following materials standards have been established for a particular product:     Standard quantity per unit of output   4.7 pounds Standard price $ 13.50 per pound     The following data pertain to operations concerning the product for the last month:     Actual materials purchased   5,250 pounds Actual cost of materials purchased $ 63,180   Actual materials used in production   4,750 pounds Actual output   730 units     The direct materials purchases variance is computed when the materials are purchased.   What is the materials quantity variance for the month?

Lewis Company's standard labor cost of producing one unit of Product DD is 3.20 hours at the rate of $12.50 per hour. During August, 42,600 hours of labor are incurred at a cost of $12.65 per hour to produce 13,200 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 $ Compute the labor price and quantity variances, assuming the standard is 3.50 hours of direct labor at $12.85 per hour. $ > Labor quantity variance $ <

The following labor standards have been established for a particular product Standard labor hours per unit of output Standard labor rate 4.3 hours $ 20.10 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 6,900 hours $ 139,380 1,500 units Required: a. What is the labor rate variance for the month? b. What is the labor efficiency variance for the month? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (Le zero variance). Input all amounts as positive values. a. Labor rate variance. b. Labor efficiency variance

Myers Corporation has the following data related to direct materials costs for November: actual costs for 5,000 pounds of material at $4.50 per pound; and standard costs for 4,800 pounds of material at $5.10 per pound. What is the direct materials price variance? a.$2,880 unfavorable b.$3,000 unfavorable c.$2,880 favorable d.$3,000 favorable

Zillow Inc. has the following data related to direct materials costs for the current month: actual cost for 7,000 pounds of material at $2.50 per pound and standard cost for 6,700 pounds of material at $3.20 per pound. What is the direct materials quantity or efficiency variance? Group of answer choices -$4,900 favorable $4,900 unfavorable $960 unfavorable -$960 favorable

Subject: acounting