During the period, the company produced and sold 26,000 units, incurring the following costs: Direct material Direct labor 55,000 gallons @ $ 2.9 per gallon 26,500 hours @ $12.75 per hour The direct material price variance was:

During the period, the company produced and sold 26,000 units, incurring the following costs: Direct material Direct labor 55,000 gallons @ $ 2.9 per gallon 26,500 hours @ $12.75 per hour The direct material price variance was:

Name: The Russell Company provides the following standard cost data per uni
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Description: The Russell Company provides the following standard cost data per unit of product:Direct material (2 gallons @ $3 per gallon)Direct labor (1 hours @ $13 per hour)During the period, the company produced and sold 26,000 units, incurring the following

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 4PA: April Industries employs a standard costing system in the manufacturing of its sole product, a park...

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Eagle Inc. uses a standard cost system. During the most recent period, the company manufactured 115,000 units. The standard cost sheet indicates that the standard direct labor cost per unit is $1.50. The performance report for the period includes an unfavorable direct labor rate variance of $3,700 and a favorable direct labor time variance of $10,275. What was the total actual cost of direct labor incurred during the period?
April Industries employs a standard costing system in the manufacturing of its sole product, a park bench. They purchased 60,000 feet of raw material for $300,000, and it takes S feet of raw materials to produce one park bench. In August, the company produced 10,000 park benches. The standard cost for material output was $100,000, and there was an unfavorable direct materials quantity variance of $6,000. A. What is April Industries standard price for one unit of material? B. What was the total number of units of material used to produce the August output? C. What was the direct materials price variance for August?
The Russell Company provides the following standard cost data per unit of product: Direct material (3 gallons @ $3 per gallon) Direct labor (2 hours @ $13 per hour) $9.00 $26.00 During the period, the company produced and sold 24,000 units, incurring the following costs: Direct material Direct labor 75,000 gallons @ 48,500 hours @ $ 2.90 per gallon $ 12.75 per hour The direct labor usage variance was: Multiple Choice $6,500 unfavorable. $6.375 unfavorable
The Russell Company provides the following standard cost data per unit of product: Direct material (2 gallons @ $4 per gallon) Direct labor (1 hours @ $13 per hour) During the period, the company produced and sold 23,000 units, incurring the following costs: Direct material Direct labor $ 8.00 $13.00 50,000 gallons @ $3.90 per gallon 23,500 hours @ $12.75 per hour The direct material usage variance was:
The Russell Company provides the following standard cost data per unit of product: Direct material (2 gallons @ $5 per gallon) Direct labor (1 hours @ $10 per hour) $ 10.00 $ 10.00 During the period, the company produced and sold 24,000 units, incurring the following costs: Direct material 51,000 gallons @ $ 4.90 per gallon Direct labor 24,500 hours @ $ 9.75 per hour The direct material usage variance was: Multiple Choice O O $15,000 unfavorable. $14,700 unfavorable. $15,000 favorable. $14,700 favorable. Pray 19 of 30 Next > MAANSTER FORGE
The Russell Company provides the following standard cost data per unit of product: Direct material (2 gallons @ $2 per gallon) Direct labor (1 hours @ $13 per hour) During the period, the company produced and sold 23,000 units, incurring the following costs: Direct material 49,000 gallons @ $ 1.90 per gallon Direct labor 23,500 hours @ $ 12.75 per hour The direct labor price variance was: Multiple Choice O O O $5,875 favorable. $5,750 favorable. $5,875 unfavorable. $5,750 unfavorable. $ 4.00 $ 13.00 4
The Russell Company provides the following standard cost data per unit of product: Direct material (3 gallons @ $4 per gallon) $ 12.00 Direct labor (2 hours @ $12 per hour) $ 24.00 During the period, the company produced and sold 25,000 units, incurring the following costs: Direct material 78,000 gallons @ $ 3.90 per gallon Direct labor 51,000 hours @ $ 11.75 per hour The direct labor price variance was: Multiple Choice $12,750 unfavorable. $12,500 unfavorable. $12,750 favorable. $12,500 favorable.
The Russell Company provides the following standard cost data per unit of product: Direct material (2 gallons @ $3 per gallon) $ 6.00 Direct labor (2 hours @ $12 per hour) $ 24.00 During the period, the company produced and sold 32,000 units incurring the following costs: Direct material 61,000 gallons @ $ 2.90 per gallon Direct labor 59,500 hours @ $ 12.05 per hour The direct material usage variance was:
The Russell Company provides the following standard cost data per unit of product: Direct material (2 gallons @ $5 per gallon) $ 10.00 Direct labor (1 hours @ $11 per hour) $ 11.00 During the period, the company produced and sold 23,000 units, incurring the following costs: Direct material 49,000 gallons @ $ 4.90 per gallon Direct labor 23,500 hours @ $ 10.75 per hour The direct material usage variance was: Multiple Choice $15,000 favorable. $14,700 unfavorable. $14,700 favorable. $15,000 unfavorable.
The Russell Company provides the following standard cost data per unit of product: Direct material (3 gallons @ $6 per gallon) Direct labor (2 hours @$10 per hour) 18.00 20.00 During the period, the company produced and sold 22,000 units incurring the following costs: 68,000 gallons @ $5.90 per gallon Direct material Direct labor 45,500 hours @ $9.75 per hour The direct labor usage variance was: Multiple Choice $15,000 unfavorable. $15,000 favorable. $14,625 unfavorable. $14,625 favorable