The actual and standard direct materials costs for producing a specified quantity of product are as follows: The direct materials price variance is: A. $50 unfavorable B. $2,500 unfavorable C. $2,550 unfavorable D. $7,550 unfavorable

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Acme Inc. has the following information available: $ 1.00 $ 1.20 Actual price paid for material Standard price for material Actual quantity purchased and used in production Standard quantity for units produced Actual labor rate per hour Standard labor rate per hour 100 110 $ 15.00 $ 16.00 Actual hours 200 Standard hours for units produced 220 Calculate the Labor Rate Variance and indicate if the variance is favorable or unfavorable

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.

Direct Materials Variances The following data relate to the direct materials cost for the production of automobile tires: Actual: 53,700 lbs. at $1.75 per lb.Standard: 52,100 lbs. at $1.80 per lb. a.  Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Line Item Description Amount Variance Direct Materials Price Variance $fill in the blank 1   Direct Materials Quantity Variance $fill in the blank 3   Total Direct Materials Cost Variance $fill in the blank 5

Material, Labor, and Variable Overhead Variances The following summarized manufacturing data relate to Brown Corporation's May operations, during which 2,000 finished units of product were produced. Normal monthly capacity is 1,100 direct labor hours. Standard Units Costs Total Actual Costs Direct material Standard (3 lb. @ $7.00/lb.) $21 $46,080 Actual (6,400 lb. @ $7.20/lb.) Direct labor Standard (0.5 hr. @ $19/hr.) $9.50 Actual (950 hrs. @ $18.70/hr.) 17,765 Variable overhead Standard (0.5 hr. @ $9/hr.) $4.50 Actual 9,300 $35 $73,145 Total

The following data relate to the direct materials cost for the production of 2,300 automobile tires: Actual: 52,300 lbs. at $1.8 per lb.   Standard: 50,700 lbs. at $1.85 per lb.   a.  Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance $ ________ _________ Direct Materials Quantity Variance $. ________  ________ Total Direct Materials Cost Variance $.   _______  ________ b.  The direct materials price variance should normally be reported to the _____  . When lower amounts of direct materials are used because of production efficiencies, the variance would be reported to the _____ . When the favorable use of raw materials is caused by the purchase of higher-quality raw materials, the variance should be reported to the _____ .

The actual materials price (AP) was £4.50, the actual quantity (AQ) of material was 5,500 units, and the materials price variance was £2,270 unfavourable. The standard materials price (SP) was?

Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows:   Actual costs 1,540 lbs. @ $9.15 Standard costs 1,600 lbs. @ $9.00   Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance.  For each variance, indicate if the variance is favorable or unfavorable.   (a)       (b)       (c)

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