The standard cost of product B manufactured by Waterway Company includes 3 units of direct materials at $5.55 per unit. During June, the company purchases 29,000 units of direct materials at a cost of $5.22 per unit and uses 29,000 units of direct materials to produce 9,500 units of product B. Calculate the materials variance, and the price and quantity variances, assuming the purchase price is $5.72 and the quantity purchased and used is 28,000 units. Materials variance Materials price variance Materials quantity variance

The following standards have been established for a raw material used to make product O84:   Standard quantity of the material per unit of output 7.7 meters Standard price of the material $ 18.50 per meter   The following data pertain to a recent month's operations:   Actual material purchased 4,000 meters Actual cost of material purchased $ 77,600   Actual material used in production 3,700 meters Actual output 560 units of product O84   The direct materials purchases variance is computed when the materials are purchased.   Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month?

Dawson Toys, Ltd., produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.34 per micron Direct labor: 1.4 hours per toy at $7.10 per hour During July, the company produced 5,300 Maze toys. The toy's production data for the month are as follows: Direct materials. 76,000 microns were purchased at a cost of $0.33 per micron. 36,250 of these microns were still in inventory at the end of the month. Direct labor. 7,820 direct labor-hours were worked at a cost of $60,214. Required: 1. Compute the following variances for July: (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 values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) a. The materials price and quantity…

At Laramie, the standard quantity of labor is 26 hours per refrigeration unit. The standard wage rate is $34. In July, the company produced 79 refrigeration units and incurred 2,020 labor hours at a cost of $60,600.Calculate the labor rate variance and the labor efficiency variance. Indicate whether the variances are favorable or unfavorable. (Round intermediate calculations to 2 decimal places, e.g. 14.37 and final answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.) Labor Rate Variance   $enter labour rate variance in dollar amount    favorable, unfavorable, or neither (same questions for labor efficiency variance)                                                            Labor Efficiency Variance   $enter labour efficiency in dollar amount

Vaughn Paints manufactures artist's oil paints. Each 40 ml tube of paint requires 5 minutes of direct labor, and the standard labor rate is $8.50 per direct labor hour. In September, Vaughn incurred 11,710 direct labor hours at a cost of $100,070 to produce 140,700 tubes of paint. Calculate Vaughn's direct labor rate variance for September. (Round intermediate calculations to 5 decimal places, e.g. 1.24638 and final answer to O decimal places, e.g. 5,275.) Direct labor rate variance $ Unfavorable

Salem Company has the following costs information for June where production volume is 2,000 units: 7. The variable cost and fixed cost per unit respectively are: A) $8.75 and $1.50. B) $8.75 and $0.25. C) $4.25 and $3.00. D) $8.50 and $12.00. B) fixed cost per unit. C) total variable cost. D) total cost per unit. A) 1,000 B) 1,800 Direct materials Direct labor 8. If production changes to 2.200 units, which cost will remain the same? A) variable cost per unit. C) 3,200 D) 2,600 Straight-line depreciation Rent expenses other fixed costs 9.The production budget shows expected unit sales of 16,000. Beginning finished goods units are 1,800. Required production units are 16,800. What are the desired ending finished goods units? A) B) D) 10. The production budget shows expected unit sales are 50,000. The required production units are 52,000. What are the beginning and desired ending finished goods units, respectively? Ending Units 2,000 5,000 $8,500 $9,000 5800 Beginning Units 5,000 3.000…

XYZ Company's standard materials cost per unit of output is $12 (3 pounds x $4). During July, the company purchases and uses 5,800 pounds of materials costing $22,910 in making 2,000 units of finished product. Compute the Total, Price, and Quantity Materials Variances.

For the raw materials used to make its stoves, Kleslia, SRL has a standard price of $10.92 per gram and standard quantity per unit output of 4.3 grams. Last month there were 8,500 grams of raw material purchased for a total cost of $87,140, while 8,966 grams of raw material were used in the production of 2,201 stoves. What was the materials price variance for the month? $BLANK (favorable or Unfavorable)

Casivant Corporation makes a product that uses a material with the following direct material standards:   Standard quantity 3.8 pounds per unit Standard price $4.00 per pound   The company produced 7,300 units in November using 28,710 pounds of the material. During the month, the company purchased 30,800 pounds of the direct material at a total cost of $117,040. The direct materials purchases variance is computed when the materials are purchased.   The materials quantity variance for November is:   Multiple Choice   A. $3,880 F   B. $3,686 U   C. $3,686 F   D. $3,880 U

Simba Company's standard materials cost per unit of output is $9.00 (2.00 pounds x $4.50). During July, the company purchases and uses 3,080 pounds of materials costing $16,632 in making 1,400 units of finished product. Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.) Total materials variance $ Materials price variance $ Materials quantity variance $ %24 %24