The standard costs and actual costs for direct materials for the manufacture of 2,000 actualunits of product are as follows:Standard CostsDirect materials1,040 kilograms at $8.64Actual CostsDirect materials2,000 kilograms at $8.30The direct materials price variance is①a.0000a. $680 favorableb. $354 unfavorablec. $354 favorabled. $680 unfavorable

The objective of the question is to calculate the direct materials price variance. The direct…

Answered: The standard costs and actual costs for…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The standard costs and actual costs for direct materials for the manufacture of 3,000 actual units of product are as follows: Standard CostsDirect materials 1,040 kilograms at $8.75 Actual CostsDirect materials 2,000 kilograms at $8.00 The direct materials price variance is a.$2,750 unfavorable b.$2,750 favorable c.$1,500 favorable d.$1,500 unfavorable
The standard costs and actual costs for direct materials for the manufacture of 2,600 actual units of product are as follows: Standard Costs Direct materials 1,040 kilograms @$8.88 Actual Costs Direct materials 2,600 kilograms @ $8.00 The direct materials price variance is a.$915 favorable b.$2,288 favorable c.$915 unfavorable d.$2,288 unfavorable
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 favorable
The standard costs and actual costs for direct materials for the manufacture of 2,200 actual units of product are as follows: Standard Costs Direct materials 1,040 kilograms @$8.57 Actual Costs Direct materials 2,200 kilograms @ $8.35 The direct materials price variance is Oa. $229 favorable Ob. $229 unfavorable Oc. $484 unfavorable Od. $484 favorable
The standard costs and actual costs for direct materials for the manufacture of 2,700 actual units of product are as follows: Standard Costs Direct materials 1,040 kilograms at $8.83 Actual Costs Direct materials 2,700 kilograms at $8.10 The direct materials price variance is a. $1,971 favorable b. $1,971 unfavorable c. $759 unfavorable d. $759 favorable
The standard costs and actual costs for direct materials for the manufacture of 2,590 actual units of product are as follows: Standard CostsDirect materials 2,590 kilograms at $8.50 Actual CostsDirect materials 2,700 kilograms at $8.10 The direct materials quantity variance is a. $748 favorable b. $748 unfavorable c. $935 favorable d. $935 unfavorable
The standard costs and actual costs for direct materials for the manufacture of 2,640 actual units of product are as follows: Standard Costs Direct materials Direct materials 2,640 kilograms at $8.90 Actual Costs 2,700 kilograms at $8.10 The direct materials quantity variance is Oa. $534 unfavorable Ob. $427 unfavorable Oc. $427 favorable Od. $534 favorable Previous
The standard costs and actual costs for direct materials for the manufacture of 2,800 actual units of product are Standard Costs Direct materials (per completed unit) 1,040 kilograms @$8.82 Actual Costs Direct materials 2,800 kilograms @ $8.40 Round your final answer to the nearest dollar. The amount of direct materials price variance is a.$437 unfavorable b.$1,176 unfavorable c.$1,176 favorable d.$437 favorable
The standard costs and actual costs for direct materials for the manufacture of 2,000 actual units of product are as follows: Standard Costs Direct materials 2,000 kilograms at $8.70 Actual Costs Direct materials 2,100 kilograms at $8.20 The direct materials quantity variance is a.$870 unfavorable b.$696 unfavorable c.$696 favorable d.$870 favorable
The following actual and standard cost data for direct material and direct labor relate to the production of 4,000 units of product: Actual Costs Standard Costs Direct Material 6,200 lb. @ $3.90 6,000 lb. @ $4.00 Direct Labor 4,300 hrs. @ $14.70 4,000 hrs. @ $15.00 Determine the materials price variance Select one: a. $620 F b. $620 U c. $180 F d. $180 U e. None of the above
The standard costs and actual costs for direct materials for the manufacture of 2,300 actual units of product are as follows: Standard Costs Direct materials Direct materials Actual Costs The direct materials price variance is Oa. $166 unfavorable Ob. $368 favorable Oc. $166 favorable Od. $368 unfavorable 1,040 kilograms at $8.51 2,300 kilograms at $8.35
The standard material costs of finished product PEP are as follows: 2 kg raw material A @ R10 per kg Actual information: Purchase of raw material A 2 000 kg @ R9.50 per kg Issue of raw material A 1 200 kg Units of product PEP manufactured 280 units Required Calculate the following in respect of material A (a) Purchase price variance (3) (b) Issue price variance (c) Quantity variance (d) Total variance.

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