An unfavorable materials quantity variance indicates that: Multiple Choice standard material price exceeds actual price. actual usage of material exceeds the standard material allowed for output. standard material allowed for output exceeds the actual usage of material. actual material price exceeds standard price.

An unfavorable materials quantity variance indicates that: Multiple Choice standard material price exceeds actual price. actual usage of material exceeds the standard material allowed for output. standard material allowed for output exceeds the actual usage of material. actual material price exceeds standard price.

Name: An unfavorable materials quantity variance indicates that:Multiple Ch
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Description: An unfavorable materials quantity variance indicates that:Multiple Choicestandard material price exceeds actual price.actual usage of material exceeds the standard material allowed for output.standard material allowed for output exceeds the actual u

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 10MC: When is the material quantity variance favorable? A. when the actual quantity used is greater than...

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Similar questions

Identify several causes of an unfavorable material price variance.
When is the material price variance unfavorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price
Which of the following is a possible cause of an unfavorable material quantity variance? A. purchasing substandard material B. hiring higher-quality workers C. paying more than should have for workers D. purchasing too much material
When is the material quantity variance favorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price
When is the labor rate variance unfavorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price
Identify several causes of an unfavorable labor efficiency variance.
Use the information provided to answer the questions. All material purchased was used in production. A. What is the standard price paid for materials? B. What is the direct materials quantity variance? C. What is the total direct materials cost variance? D. If the direct materials price variance was unfavorable, what would be the standard price?
What are some possible reasons for a material price variance? A. substandard material B. labor rate increases C. labor rate decreases D. labor efficiency
Which of the following is a possible cause of an unfavorable material price variance? A. purchasing too much material B. purchasing higher-quality material C. hiring substandard workers D. buying substandard material
When is the material price variance favorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price
When is the direct labor time variance unfavorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price
Acme Inc. has the following information available: A. Compute the material price and quantity, and the labor rate and efficiency variances. B. Describe the possible causes for this combination of favorable and unfavorable variances.