Calculating materials variances Martin, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is 1.0 pound per glass at a cost of $0.50 per pound. The actual result for one month’s production of 6,500 glasses was 1.2 pounds per glass, at a cost of $0.30 per pound. Calculate the direct materials cost variance and the direct materials efficiency variance.

Q: Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.025 hour.…

A: Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked Labor…

Q: Direct materials variances Bellingham Company produces a product that requires 2.3 standard pounds…

A: Material cost variance shows difference in standard cost and actual cost of materials due to various…

Q: Direct Labor Variances Bellingham Company produces a product that requires 2 standard direct labor…

A: Cost variances are the deviations of the actual data from the standard data prepared. These…

Q: Pearl City Jewelry produced 1,530 rings during March. The standard cost of each ounce of gold used…

A: Material price variance is the difference between the standard price and the actual price paid for…

Q: Materials Variances Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard…

A: Material price variance = (standard price - actual price) * actual quantity   Material usage…

Q: Direct Labor Variances Bellingham Company produces a product that requires 5 standard direct labor…

A: Direct labor cost variance determined the difference between the actual direct labor cost incurred…

Q: Acoma, Inc., has determined a standard direct materials cost per unit of $6.80 (2 feet × $3.40 per…

A:

Q: Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price…

A: Direct Material price variance = (Actual price per pound - Standard price per pound)*Actual quantity…

Q: Direct Materials Variances Venneman Company produces a product that requires 3.5 standard pounds…

A: Direct Material cost variance = (Standard quantity * Standard price) - (Actual quantity * Actual…

Q: Direct Labor Variances Bellingham Company produces a product that requires 6 standard hours per…

A: a. Direct labor rate variance =Actual hours *(Actual rate - standard rate)…

Q: Direct Labor Variances Bellingham Company produces a product that requires 5 standard direct labor…

A: In this numerical has covered the concept of Standard Costing .

Q: Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price…

A: Direct material variance means the difference between the standard cost of direct material &…

Q: Direct materials variances Bellingham Company produces a product that requires 2.5 standard pounds…

A: The variances refers to the difference between the budgeted amount and the actual amount. It may be…

Q: Direct materials variances The following data is provided for Bellingham Company: DATA 2.5…

A: In management accounting, the term variance is used to describe the difference between the planned…

Q: Bellingham Company produces a product that requires eight standard pounds per unit. The standard…

A: Direct Material price variance = (Actual price per pound - Standard price per pound)*Actual quantity…

Q: Jackson, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is…

A: Variances are the differences between the costs that have been budgeted by an entity relating to…

Q: Labor Rate and Efficiency Variances Tico Inc. produces plastic bottles. Each bottle has a standard…

A: The variance is the difference between the standard and actual production data .

Q: Direct Labor Variances Bellingham Company produces a product that requires 2 standard hours per…

A:

Q: Direct labor variances Yealink Company produces a product that requires 2 standard direct labor…

A: Direct Labour Cost Variance :— It is the variance between actual cost and standard cost for actual…

Q: Direct Materials Variances Bellingham Company produces a product that requires 16 standard pounds…

A: Variance refers to a change between the expected value and the actual result. This term is usually…

Q: Direct Labor Variances Bellingham Company produces a product that requires 5 standard hours per…

A: 1 2 3

Q: Direct Materials Variances The following data relate to the direct materials cost for the production…

A: Compute direct material price variance.

Q: Direct Materials Variances Silicone Engine Inc. produces wrist-worn tablet computers. The company…

A: Solution;- a)Calculation of Direct material Price variance as follows:- =

Q: Bellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price…

A: Material Price Variance = (Standard Price-Actual Price)*Actual Quantity Material Quantity Variance =…

Q: Bellingham Company produces a product that requires five standard pounds per unit. The standard…

A: Direct Material price variance = (Actual price per pound - Standard price per pound)*Actual quantity…

Q: Direct Materials Variances The following data relate to the direct materials cost for the…

A: Direct material price variance = [Actual quantity*Standard price] - [Actual quantity*Actual price]…

Q: Direct Labor Variances Venneman Company produces a product that requires 4 standard hours per unit…

A: Standard cost means the cost which the company is expecting to be incurred on the basis of estimate…

Q: Labor Rate and Efficiency Variances Tico Inc. produces plastic bottles. Each bottle has a standard…

A: Labor rate variance = (SR - AR)* AH = ($15 - $17) * 25600 = $51,200 Unfavorable

Q: Direct Materials Variances The following data relate to the direct materials cost for the…

A: Solution: Introduction: Under the standard Costing method, standard cost is a predetermined cost and…

Q: Bellingham Company produces a product that requires 4 standard direct labor hours per unit at a…

A: Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked Labor time…

Q: Direct Labor Variances Bellingham Company produces a product that requires 9 standard direct labor…

A: We have the following information: A product requires 9 standard direct labor hours per unit at a…

Q: The following data relate to the direct materials cost for the production of 2,500 automobile tires:…

A: Direct Material price variance = (Actual price per pound - Standard price per pound)*Actual quantity…

Q: The following data relate to the direct materials cost for the production of 1,900 automobile tires:…

A: Direct  Material price variance = (Actual price - Standard price)*Actual quantity purchased Direct…

Q: Smithson, Inc., manufactures lead crystal glasses. Smithson, Inc.'s managers recently calculated the…

A: Direct material cost variance This is the difference between the standard and actual cost per unit…

Q: Bellingham Company produces a product that requires 12 standard pounds per unit. The standard price…

A: Direct material cost variance = Standard Cost - Actual Cost  OR Direct material cost variance =…

Q: Direct Materials Variances Bellingham Company produces a product that requires 10 standard pounds…

A: Standard Costing: It is basically a branch of cost accounting in which the actual costs are to be…

Q: Calculating labor variances Martin, Inc. manufactures lead crystal glasses. The standard direct…

A: Direct labor cost variance = ( standard rate - actual rate ) x actual labor hours.

Q: Longman Inc is a manufacturer of crystal glasses. The standard direct materials quantity is 0.8…

A: Direct Materials Cost Variance = Actual Direct Materials Cost  - Standard Direct Materials Cost…

Q: Direct labor variances Bellingham (Company produces a product that requires 4 standard direct labor…

A: Variances are calculated to compare the actual result with the standard set by the company.

Q: Direct Materials Variances The following data relate to the direct materials cost for the…

A: a.  Determine the direct materials price variance, direct materials quantity variance, and total…

Q: Longman, Ic., manufactures lead crystal glasses. Longman, Inc.'s managers recently calculated the…

A:

Q: Direct Materials Variances The following data relate to the direct materials cost for the production…

A: Direct material variances: The difference between the actual material cost per unit and the standard…

Q: Direct Labor Variances Bellingham Company produces a product that requires 7 standard hours per unit…

A: Calculation of direct labor rate, time and total direct labor cost variance:

Q: Direct Materials Variances Bellingham Company produces a product that requires 9 standard pounds per…

A: Variance is referred as the difference. In calculating price variance, a difference in the standard…

Q: What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round…

A: Direct Material Price Variance :— It is the difference between the actual quantity of direct…

Q: Direct Labor Variances Bellingham Company produces a product that requires 9 standard direct labor…

A: Standard cost means the cost which the company is expecting to be incurred on the basis of estimate…

Q: Venneman Company produces a product that requires 5 standard pounds per unit. The standard price is…

A: Direct material price variance  (Standard Price*Actual Quantity) - (Actual Price*Actual Quantity)…

Q: Direct Materials Variances Bellingham Company produces a product that requires 11 standard pounds…

A: The variance is the difference between the actual data and standard output of the production.…

Q: Bellingham Company produces a product that requires 15 standard pounds per unit. The standard price…

A: Direct Material Price Variance = ( Standard Price - Actual Price ) x Actual Quantity Direct Material…