TB MC Qu. 16-66 (Algo) TaskMaster Enterprises employs... TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product. Standard Standard Standard Quantity Price Cost Direct Materials 7 pounds $ 1.80 per pound $ 12.60 Direct Labor 0.20 hour $ 7.00 per hour 1.40 $ 14.00 During November, TaskMaster purchased 175,000 pounds of direct materials at a total cost of $332,500. The total factory wages for November were $52,000, 80% of which were for direct labor. TaskMaster manufactured 23,000 units of product during November using 152,000 pounds of direct materials and 4,000 direct labor hours. What is the direct materials efficiency variance for November? Multiple Choice $25,200 $17,500 $15,200 $16,200
TB MC Qu. 16-66 (Algo) TaskMaster Enterprises employs... TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product. Standard Standard Standard Quantity Price Cost Direct Materials 7 pounds $ 1.80 per pound $ 12.60 Direct Labor 0.20 hour $ 7.00 per hour 1.40 $ 14.00 During November, TaskMaster purchased 175,000 pounds of direct materials at a total cost of $332,500. The total factory wages for November were $52,000, 80% of which were for direct labor. TaskMaster manufactured 23,000 units of product during November using 152,000 pounds of direct materials and 4,000 direct labor hours. What is the direct materials efficiency variance for November? Multiple Choice $25,200 $17,500 $15,200 $16,200
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead
Section: Chapter Questions
Problem 5P: High-End Products Inc. uses a standard cost system in accounting for the cost of production of its...
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TB MC Qu. 16-66 (Algo) TaskMaster Enterprises employs...
TaskMaster Enterprises employs a
Standard | Standard | Standard | ||||||||||
Quantity | Price | Cost | ||||||||||
Direct Materials | 7 | pounds | $ | 1.80 | per pound | $ | 12.60 | |||||
Direct Labor | 0.20 | hour | $ | 7.00 | per hour | 1.40 | ||||||
$ | 14.00 | |||||||||||
During November, TaskMaster purchased 175,000 pounds of direct materials at a total cost of $332,500. The total factory wages for November were $52,000, 80% of which were for direct labor. TaskMaster manufactured 23,000 units of product during November using 152,000 pounds of direct materials and 4,000 direct labor hours.
What is the direct materials efficiency variance for November?
Multiple Choice
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-
$17,500
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$15,200
-
$16,200
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