Exercise 23-9 (Part Level Submission) You have been given the following informat

Question

Exercise 23-9 (Part Level Submission)

You have been given the following information about the production of Usher Co., and are asked to provide the plant manager with information for a meeting with the vice president of operations.

The following is a variance report for the most recent period of operations.

Variances

Costs

Total Standard Cost

Price

Quantity

How many pounds of raw material were purchased and used during the period? (Round answer to 0 decimal places, e.g. 125.)

Standard Cost Card Direct materials (9 pounds at $4 per pound) $36.00 Direct labor (0.80 hours at $7) 5.60 Variable overhead (0.80 hours at $3 per hour) 2.40 Fixed overhead (0.80 hours at $8 per hour) 6.40 $50.40

Explanation / Answer

Material usuage variance =

Material usuage variance =

Standard price * standard quantity - Standard price * Actual quantity utilized Given Standard cost* standard quantity = 407000 And the material quantity/usuage variance = -9200 Un Fav Therefore the (Standard price * Actual quantity utilized) =   416200 And the material quantity purchased and used (416200/4) 104050 Pounds

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