The materials price variance for January is:
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A: Introduction:- The following formula used to calculate Material quantity variance as follows under:-…
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A: Variable overhead efficiency variance (VOHEV) VOHEV = (SVH - AVH) * SVR Where, SVH = standard hours…
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A: Variance is said to be difference between standard and actual cost.
Q: Calculate the company's activity variances for August.
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Q: Information on Kimble Company's direct labor costs for the month of January is as follows: Actual…
A: Note:We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: The following data relate to direct labor costs for the current period: Standard costs 6,000…
A: DIRCET LABOR RATE VARIANCE : = ( ACTUAL PRICE - STANDARD PRICE ) X ACTUAL HOURS
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A: A budget is a statement that is prepared by the company, government, and the individual based on the…
Q: The variable overhead rate variance for the month is closest to:
A:
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A: Total Overhead variance can be defined as the difference between the actual overhead incurred and…
Q: The materials price variance for March is:
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A: The direct materials price variance for the material is as follows:
Q: What is the direct materials quantity variance for January?
A: Actual Quantity = 18000 kilogram Standard Quantity = 16000 kilogram Actual Price = $3.60 per…
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A:
Q: The following data relate to direct labor costs for the current period: Standard costs 6,900 hours…
A: Given that: Actual hours = 6400 hours Standard hours = 6900 hours Standard rate per hour = $11.30…
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A: Direct material price variance = (Standard Price - Actual Price) x Actual Quantity Variance is…
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Q: what is the formula or equations on how to calculate for spending variance for March 31
A: Spending variance means the difference between actual and budgeted expense. Spending variance can be…
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Q: 8. What is the direct labor rate variance for March?
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Q: The following data relate to direct materials costs for February:
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A: Material price variance = Actual quantity purchased× (Actual price - standard price)
Q: 1. Prepare the following variance analyses for both chocolates and the total, based on the actual…
A:
Q: Black's budgeted cost of Direct Labor for February is
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A: Spending variance: = Actual results - Flexible budget
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A: The right answer is option a The cost of Goods Sold account will be debited
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A: a.
Q: Instructions Determine the amounts of the labor price and the labor quantity variances for August.
A:
Q: overhead variance analysis for May and June
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A: Materials price variance = (Actual Quantity * Standard price)- (Actual Quantity * Actual Price)…
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- Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid $32 per hour for labor, for a total of $718,848. The standard hours per unit are 6.4, and the standard labor wage rate is $38.40 per hour. A. What are the actual hours worked? B. What are the standard hours for the units made? C. What is the direct labor rate variance for April? D. What Is the direct labor time variance for April? E. What is the total direct labor variance for April?Sitka Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for one ladder (unit): Sitka Industries made 3,000 ladders in July and used 8,800 pounds of material to make these units. Smith Industries bought 15,500 pounds of material in the current period. There was a $250 unfavorable direct materials price variance. A. How much in total did Sitka pay for the 15,500 pounds? B. What is the direct materials quantity variance? C. What is the total direct material cost variance? D. What ii 9,500 pounds were used to make these ladders, what would be the direct materials quantity variance? E. It there was a $340 favorable direct materials price variance, how much did Sitka pay for the 15,500 pounds of material?Corolla Manufacturing has a standard cost for steel of $20 per pound for a product that uses 4 pounds of steel. During September, Corolla purchased and used 4,200 pounds of steel to make 1,040 units. They paid $20.75 per pound for the steel. Compute the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance for the month of September. What would change if Corolla had made 2,200 units?
- Illinois Company is a medium-sized company that makes dresses. During the month of June, 8,575 dresses were made. All material purchases were used to make the dresses. The company had this information: standard per dress of 6 yards of material at $6.20 per yard. The actual quantity was 52,000 yards at a cost of $325,520. Compute the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance.Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but require different amounts. Standard materials for both are shown. At the beginning of the month, Edve Co. bought 25,000 feet of rubber for $6.875. The company made 3,000 large O rings and 4,000 small O rings. The company used 14,500 feet of rubber. A. What are the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance? B. If they bought 10,000 connectors costing $310, what would the direct materials price variance be for the connectors? C. If there was an unfavorable direct materials price variance of $125, how much did they pay per toot for the rubber?Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. A. Compute the direct labor rate and time variances for the month of June, and also calculate the total direct labor variance. B. If the standard rate per hour was $16.00, what would change?
- Gipple Corporation makes a product that uses a material with the quantity standard of 7.5 grams per unit of output and the price standard of $6.20 per gram. In January the company produced 3,600 units using 25,070 grams of the direct material. During the month the company purchased 27,600 grams of the direct material at $6.30 per gram. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for January is: Multiple Choice $2,700 F $2,760 U $2,700 U $2,760 FGipple Corporation makes a product that uses a material with the quantity standard of 7.3 grams per unit of output and the price standard of $6.00 per gram. In January the company produced 3,400 units using 24,870 grams of the direct material. During the month the company purchased 27,400 grams of the direct material at $6.10 per gram. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for January is: Multiple Choice O O O O $300 F $305 F $305 U $300 UCasivant Corporation makes a product that uses a material with the following direct material standards: Standard quantity 3.8 pounds per unit Standard price $ 4.00 per pound The company produced 7,300 units in November using 28,710 pounds of the material. During the month, the company purchased 30,800 pounds of the direct material at a total cost of $117,040. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for November is:
- Casivant Corporation makes a product that uses a material with the following direct material standards: Standard quantity 3.8 pounds per unit Standard price $4.00 per pound The company produced 7,300 units in November using 28,710 pounds of the material. During the month, the company purchased 30,800 pounds of the direct material at a total cost of $117,040. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for November is: Multiple Choice A. $3,880 F B. $3,686 U C. $3,686 F D. $3,880 UCompany S purchased 1,000 units raw materials amounting to $5,000 and used $4,500 worth for the production during the current month. The standard price for these raw materials is $5.2 per unit. How much is the materials price variance for the current month if Company S analyzes the variance at the point of purchase?Scarlett Company has a direct materials standard of 3 gallons of input at a standard price of $13.00 per gallon. During July, Scarlett Company purchased and used 7,470 gallons at an actual price of $12.60 to produce 2,050 units. What is the direct materials price variance?