21. Angelyn Company had budgeted 50,000 units of output using 50,000 units of raw materials at a total material cost of P100,000. Actual output was 50,000 units of product, requiring 45,000 units of raw materials at a cost of P2.10 per unit. The direct material price variance and usage variance were Price Usage P4,500 unfavorable P10,000 favorable a. b. 5,000 favorable 5,000 unfavorable 10,000 favorable 10,500 unfavorable 10,500 favorable C. d. 4,500 unfavorable

21. Angelyn Company had budgeted 50,000 units of output using 50,000 units of raw materials at a total material cost of P100,000. Actual output was 50,000 units of product, requiring 45,000 units of raw materials at a cost of P2.10 per unit. The direct material price variance and usage variance were Price Usage P4,500 unfavorable P10,000 favorable a. b. 5,000 favorable 5,000 unfavorable 10,000 favorable 10,500 unfavorable 10,500 favorable C. d. 4,500 unfavorable

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 3CMA

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Similar questions

USD Inc. has established the following standard cost per unit: Although 10,000 units were budgeted, 12,000 units were produced. The Purchasing department bought 50,000 lb of materials at a cost of $237,500. Actual pounds of materials used were 46,000. Direct labor cost was $287,500 for 25,000 hours worked. Required: Make journal entries to record the materials transactions, assuming that the materials price variance was recorded at the time of purchase. Make journal entries to record the labor variances.
Carlo Lee Corp. has established the following standard cost per unit: Although 10,000 units were budgeted, only 8,800 units were produced. The purchasing department bought 55,000 lb of materials at a cost of $123,750. Actual pounds of materials used were 54,305. Direct labor cost was $186,550 for 18,200 hours worked. Required: Make journal entries to record the materials transactions, assuming that the materials price variance was recorded at the time of purchase. Make journal entries to record the labor variances.
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Budgeted unit sales for the entire countertop oven industry were 2,500,000 (of all model types), and actual unit sales for the industry were 2,550,000. Recall from Cornerstone Exercise 18.6 that Iliff, Inc., provided the following information: Required: 1. Calculate the market share variance (take percentages out to four significant digits). 2. Calculate the market size variance. 3. What if Iliff actually sold a total of 41,000 units (in total of the two models)? How would that affect the market share variance? The market size variance?
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