-Assignments-Principle: >\'\\ a New Tab Search \\\'Ndwight d eisenhower sur × ×

Question

-Assignments-Principle: >' a New Tab Search 'Ndwight d eisenhower sur × × KV Military career of Dwight x Google G blackbourd nku Go User Dashboard QNew Tab Search NKU Webmailt Northl Connect ework unit of Zoom are given below: Standard Quantity or Standard Price Standard Hours or Rate Direct materials Direct labor Cost 5.60 pounds $3.00 per pound $16.80 2.80 0.40 hours $7.00 per hour During the most recent month, the following activity was recorded: a. Ten thousand eight hundred pounds of material were purchased at a cost of $290 per pound b. The company produced only 1,080 units, using 9,720 pounds of material. (The rest of the material purchased remained i materials inventory) c 532 hours of direct labor time were recorded at a total labor cost of S6384 Required: Compute the materials price and quantity variances for the month (Indicate the effect of each variance by selecting "F for fevorable, "U" for unfavorable, and "None" for no effect (i.e...zero variance). Input all amounts as positive values. Do not s intermediate calculations.) Materials price varlance Materials quantity variance Prey 3 of 5 Next> o search fs 1o 12 ??

Explanation / Answer

Std Quantity allowed for actual output: 1080*5.60 = 6048 pounds Std Price per pound: $ 3.00 per pound Actual quantity purchased: 10800 pounds Actual quantity used: 9720 pounds Actual price per pound: $2.90 per pound Material Price variance = Actual Qty Used (Sd price - Actual price) (Based on usage) 9720 pounds (3.00-2.90 ) = $972 F Material Price variance = Actual Qty Used (Sd price - Actual price) (Based on purchased)     10800 pounds (3.00-2.90 ) = $ 1080 F Material Quantity Variance = Std Price per unit (Std Quantity -Actual Quantity) 3.00 (6048-9720) = $ 11016 U

Related Questions

Navigate

• Browse (All)
• Browse #
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.