Titan Company has a materials price standard of $4.00 per pound. Twelve thousand pounds of materials were purchased at $4.40 a pound. The actual quantity of materials used was 12,000 pounds, although the standard quantity allowed for the output was 10,800 pounds. Titan's total materials variance is: A. $10,080 F B. $9,600 F C. $9,600 U D. $10,080 U Titan's materials price variance is A. $480 U B. $4,800 U C. $4,320 U D. $4,800 F

April Industries employs a standard costing system in the manufacturing of its sole product, a park bench. They purchased 50,000 feet of raw material for $200,000, and it takes 6 feet of raw materials to produce one park bench. In August, the company produced 11,000 park benches. The standard cost for material output was $132,000, and there was an unfavorable direct materials quantity variance of $5,000. A. What is April Industries’ standard price for one unit of material? Standard cost per unit $fill in the blank 1 B. What was the total number of units of material used to produce the August output? Actual quantity feet fill in the blank 2 Units C. What was the direct materials price variance for August? Direct materials price variance $ fill in the blank 3

Lemke Industries purchased and consumed 80,000 gallons of direct material that was used in the production of 21,000 finished units of product. According to engineering specifications, each finished unit had a manufacturing standard of four gallons. If the material price variance is $8,000 and the material quantity variance is $2,400F, what is the actual price paid for a gallon of direct material? Multiple Choice $0.60 $0.40 $0.70 None of the answers is correct Not enough information to judge

Your Company’s materials quantity variance was $24,000 favorable. The standard cost per pound is $12.00 and 30 pounds are allowed for each unit of output. Records show that 46,500 pounds of material were used. How many units of output were actually produced?

The standard cost card for product Alpha is as follows:       £ Direct material 5kg@ £11.50 per kg 57.50 Direct Labour 4 labour hours @£9 per hour 36.00     93.50 In the period just ended 3,000 units were produced and costs were incurred as follows:     Quantity Cost (£) Direct material 15900kg 180465 Direct labour 11550 hours 106260     286725 Required: Calculate the direct materials price variance for product Alpha. Calculate the direct labour rate variance for product Alpha. Explain the factors that need to be taken into account when deciding to investigate a variance.

A product has budgeted production of 1,000 units and a material cost of £14,000; the standard cost card allows for £7 per kg. In the period, 2,500 kg were purchased at a cost of £18,750 and used to produce 1,250 units.   What were the material price and usage variances?

Shelley Company bought 3,000 pounds of materials for $2,850. They used 2,800 pounds to produce 1,000 units of output. Direct labor costs totaled $20,400 for 600 hours of work. Standards have been set as follows: Direct Materials: 2 pounds @ $1.10 per pound Direct Labor: .5 hours @ $32 per hour The materials purchase price variance is: $420 unfavorable O $420 favorable O $450 unfavorable O $450 favorable O $230 favorable

Company A produced 2,200 units of output during a production process that normally requires 2 hours of labor per unit of output. The standard labor rate is $16 per hour, but the company paid $15 per hour. Actual hours needed to complete the production process were 4,600. How much was the labor rate variance?   A. $4,400 favorable.   B. $4,400 unfavorable.   C. $4,600 favorable.   D. $4,600 unfavorable.

just C.

a. The standard cost of product AAA includes 6 units of direct materials at $10 per unit. During August, the company bought 60,000 units of materials at $12 and used those materials to produce 11,000 units of product AAA. AQ= AP = SQ = SP = Compute the total, price, and quantity_variances for materials.