Please do not give solution in image format thanku 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 shownLargeSmallRubber 3 feet at $0.20 per foot 1.25 feet at $0.20 per footConnector1 at $0.031 at $0.03At the beginning of the month, Ed Co. bought 24,000 feet of rubber for $6,720. The company made 3,000 large O rings and 4,000 small O rings. The company used14,600 feet of rubber.A. What are the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance? Enter all amounts as positive numbers.If required round your answers to two decimal places.Direct materials price varianceDirect materials quantity varianceTotal direct materials cost varianceUnfavorable ✔Unfavorable ✔Unfavorable ✔B. If they bought 10,000 connectors costing $310, what would the direct materials price variance be for the connectors? Round your Intermediate calculations tothree decimal places.Direct materials price variance fUnfavorable ✓C. If there was an unfavorable direct materials price variance of $120, how much did they pay per foot for the rubber? Round your answer to two decimal places.Actual price

Direct material variance is the difference between standard direct material cost for actual…

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 Large Small Rubber 3 feet at $0.20 per foot 1.25 feet at $0.20 per foot 1 at $0.03 1 at $0.03 Connector At the beginning of the month, Ed Co. bought 24,000 feet of rubber for $6,720. The company made 3,000 large O rings and 4,000 small O rings. The company used 14,600 feet of rubber. A. What are the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance? Enter all amounts as positive nun If required round your answers to two decimal places. Unfavorable ✔ Unfavorable ✔ Unfavorable ✔ Direct materials price variance Direct materials quantity variance 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? Round your Intermediate calculations t three decimal places. Direct materials price variance f Unfavorable ✓ C. If there was an unfavorable direct materials price variance of $120, how much did they pay per foot for the rubber? Round your answer to two decimal place Actual price

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 Large Small Rubber 3 feet at $0.20 per foot 1.25 feet at $0.20 per foot 1 at $0.03 1 at $0.03 Connector At the beginning of the month, Ed Co. bought 24,000 feet of rubber for $6,720. The company made 3,000 large O rings and 4,000 small O rings. The company used 14,600 feet of rubber. A. What are the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance? Enter all amounts as positive nun If required round your answers to two decimal places. Unfavorable ✔ Unfavorable ✔ Unfavorable ✔ Direct materials price variance Direct materials quantity variance 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? Round your Intermediate calculations t three decimal places. Direct materials price variance f Unfavorable ✓ C. If there was an unfavorable direct materials price variance of $120, how much did they pay per foot for the rubber? Round your answer to two decimal place Actual price

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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. Large Small rubber 3 feet at $0.25 per foot 1.25 feet at $0.25 per foot connector 1 at $0.03 1 at $0.03 At the beginning of the month, Ed 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. Required: What are the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance? If they bought 10,000 connectors costing $310, what would the direct materials price variance be for the connectors? If there was an unfavorable direct materials price variance of $125, how much did they pay per foot for the rubber?
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. Large Small Rubber 3 feet at $0.25 per foot 1.25 feet at $0.25 per foot Connector 1 at $0.02 1 at $0.02 At the beginning of the month, Ed Co. bought 24,000 feet of rubber for $6,600. The company made 3,000 large O rings and 4,000 small O rings. The company used 14,600 feet of rubber. A. What are the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance? Enter all amounts as positive numbers. If required round your answers to two decimal places. Direct materials price variance $fill in the blank 1 Direct materials quantity variance $fill in the blank 3 Total direct materials cost variance $fill in the blank 5 B. If they bought 9,000 connectors costing $190, what would the direct materials price variance be for the connectors?…
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Hel Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,300 helmets, using 2,475 kilograms of plastic. The plastic cost the company $18,810. According to the standard cost card, each helmet should require 0.68 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,300 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 3,300 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard quantity of kilograms…
es Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,800 helmets, using 2,888 kilograms of plastic. The plastic cost the company $19,061. According to the standard cost card, each helmet should require 0.70 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,800 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3,800 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard quantity of kilograms…
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Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,200 helmets, using 2,080 kilograms of plastic. The plastic cost the company $15,808. According to the standard cost card, each helmet should require 0.56 kilogram of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,200 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 3,200 helmets? 3. What is the materials spending variance? 4. What are the materials price variance and the materials quantity variance? Note: For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. 1. Standard quantity of kilograms…
Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,400 helmets, using 2,584 kilograms of plastic. The plastic cost the company $17,054. According to the standard cost card, each helmet should require 0.69 kilogram of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,400 helmets? 2. What is the standard materials cost allowed (SQx SP) to make 3,400 helmets? 3. What is the materials spending variance? 4. What are the materials price variance and the materials quantity variance? Note: For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. 1. Standard quantity of kilograms…
Bandar Industries manufactures sporting equipment. One of the company’s products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,400 helmets, using 2,550 kilograms of plastic. The plastic cost the company $19,380. According to the standard cost card, each helmet should require 0.68 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,400 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 3,400 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.)