Q1: The standard costs and actual costs for direct materials for the manufacture
ID: 2400111 • Letter: Q
Question
Q1:
The standard costs and actual costs for direct materials for the manufacture of 2,600 actual units of product are
Round your final answer to the nearest dollar.
The amount of direct materials price variance is
$426 favorable
$426 unfavorable
$1,066 favorable
$1,066 unfavorable
Q2:
The standard costs and actual costs for direct materials for the manufacture of 2,650 actual units of product are
The amount of the direct materials quantity variance is
$430 unfavorable
$430 favorable
$344 favorable
$344 unfavorable
Q3:
The Flapjack Corporation had 8,200 actual direct labor hours at an actual rate of $12.40 per hour. Original production had been budgeted for 1,100 units, but only 1,000 units were actually produced. Labor standards were 7.6 hours per completed unit at a standard rate of $13.00 per hour.
The labor rate variance is
a.$4,920 favorable
b.$4,920 unfavorable
c.$4,560 unfavorable
d.$4,560 favorable
Q4:
The Flapjack Corporation had 8,200 actual direct labor hours at an actual rate of $12.40 per hour. Original production had been budgeted for 1,100 units, but only 1,000 units were actually produced. Labor standards were 7.6 hours per completed unit at a standard rate of $13.00 per hour.
The labor time variance is
a.$9,880 favorable
b.$9,880 unfavorable
c.$7,800 favorable
d.$7,800 unfavorable
Standard Costs Direct materials (per completed unit) 1,040 kilograms @$8.61Actual Costs Direct materials 2,600 kilograms @ $8.20
Explanation / Answer
1) The amount of direct materials price variance is =
(Standard Rate per kg - Actual Rate per kg)* Actual Quantity
=(8.61-8.2)2600 = (1066) unfavourable.
2) The amount of the direct materials quantity variance is=
(Standard Quantity for Actual Production - Actual Qunatity)*Standard Rate
=(2650-2700)*8.6 = (430) Unfavourable
3) The labor rate variance is =
(Standard Rate per hour - Actual Rate per hour) * Actual Hours Worked
= (13-12.4)*8200 = 4920 Favourable
4) The labor time variance is
( Standard Hour for Actual Production - Actual Hour) *Standard Rate
= [ (1000*7.6) - (8200) ] * 13
= (7800) Unfavourable
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.