Swifty has a standard of 1.2 pounds of materials per unit, at $4 per pound. In producing 3000 units, Swifty used 3700 pounds of materials at a total cost of $14510. Swifty's total material variance is O $400 U. O $110 U. O $240 F. O $290 U.

Swifty has a standard of 1.2 pounds of materials per unit, at $4 per pound. In producing 3000 units, Swifty used 3700 pounds of materials at a total cost of $14510. Swifty's total material variance is O $400 U. O $110 U. O $240 F. O $290 U.

Name: Swifty has a standard of 1.2 pounds of materials per unit, at $4 per
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Description: Swifty has a standard of 1.2 pounds of materials per unit, at $4 per pound. In producing 3000 units, Swifty used3700 pounds of materials at a total cost of $14510. Swifty's total material variance isO $400 U.$110 U.$240 F.Ⓒ$290 U.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 6PA: The Whizbang Company makes a special type of toy. Each top takes 6 ounces of a special material that...

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April Industries employs a standard costing system in the manufacturing of its sole product, a park bench. They purchased 60,000 feet of raw material for $300,000, and it takes S feet of raw materials to produce one park bench. In August, the company produced 10,000 park benches. The standard cost for material output was $100,000, and there was an unfavorable direct materials quantity variance of $6,000. A. What is April Industries standard price for one unit of material? B. What was the total number of units of material used to produce the August output? C. What was the direct materials price variance for August?
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