The standard cost of product 777 includes 2.0 units of direct materials at $6.70 per unit. During August, the company bought 29,000 units of materials at $6.90 and used those materials to produce 15,000 units. Compute the total, price, and quantity variances for materials. Total materials variance Materials price variance Materials quantity variance

Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: Quantity of direct materials used 6,500 lbs. Actual unit price of direct materials $5.9 per lb. Units of finished product manufactured 3,120 units Standard direct materials per unit of finished product 2 lbs. Direct materials quantity variance—unfavorable $1,586 Direct materials price variance—favorable $1,300 Determine the standard direct materials cost per unit of finished product, assuming that there was no inventory of work in process at either the beginning or the end of the month. If required, round your standard cost per unit answer to two decimal places. Product finished fill in the blank 1 units Standard finished product for direct materials used fill in the blank 2 units Deficiency of finished product for materials used fill in…

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Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,700 pounds of material at $5.30 per pound; and standard costs for 4,410 pounds of material at $6.20 per pound. What is the direct materials price variance? a. $4,230 favorable b. $1,798 favorable c. $1,798 unfavorable d. $4,230 unfavorable

A company reports the following for one of its products. Direct materials standard (5 pounds @ $8 per pound) Actual units produced $ 40 per unit 80,000 units Actual cost of direct materials used 3,232,000 Compute the total direct materials cost variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Direct materials variance

The following data relate to a product manufactured by Kent Corporation: Direct material standard: 3.5 square feet at $2.50 per square foot Direct material purchased & used: 33,000 square feet at $2.60 per square foot Manufacturing activity: 9,600 units completed SHOW ALL COMPUTATIONS Compute price variance, quantity variance, direct material variance.

Kingbird Company has determined that the standard cost to manufacture its product includes 2 units of direct materials at $6.00 per unit. During January, the company purchased 50,400 units of direct materials at a cost of $5.90 per unit and used 50,400 units of direct materials to produce 23,300 units of its product. Calculate the total materials variance, and the price and quantity variances. Materials Variance Materials Price Variance Materials Quantity Variance 69 $ 5040 Unfavourable Favourable Unfavourable

The standard cost of Product B manufactured by Pharrell Company includes 2.2 units of direct materials at $5.60 per unit. During June, 26,700 units of direct materials are purchased at a cost of $5.35 per unit, and 26,700 units of direct materials are used to produce 12.000 units of Product B (2) Compute the total materials variance and the price and quantity variances Total materials variance Materials price variance (b) Materials quantity variance $ $ Total materials variance $ Compute the total materials variance and the price and quantity variances, assur purchased and used is 26,900 units. Materials price variance $ $ Materials quantity variance $ the purchase price is $5,70 and the quantity SUPPORT

Use this information for Pink Peach Company to answer the question that follows. The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.91; actual, $2.05 Standard yards per unit: standard, 4.73 yards; actual, 5.21 yards Units of production: 9,300 Compute the direct materials quantity variance. Oa. $8,526.24 favorable Ob. $8,526.24 unfavorable Oc. $9,151.20 unfavorable Od. $9,151.20 favorable