The actual cost of direct materials is $55.75 per pound. The standard cost per pound is $60.50. During the current period, 6,100 pounds were used in production. The standard quantity for actual units produced is 5,700 pounds. How much is the direct materials price variance? A. $27,075 unfavorable B. $28,975 unfavorable C. $28,975 favorable D. $27,075 favorable
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- The standard cost of direct materials is £4 per kg and the standard quantity 2kg per unit of output. The actual cost is £3.80 per kg and the actual quantity used is 2.1kg per unit. 20,000 units are produced in the period. What is the direct materials price variance? OA. £8,400 adverse OB. £8,000 adverse OC. £8,000 favourable D. £8,400 favourable1. The standard and actual prices per pound of raw material are $4.00 and $4.50, respectively. A total of 10,500 pounds of raw material was purchased and then used to produce 5,000 units. The quantity standard allows two pounds of the raw material per unit produced. What was the materials quantity variance? a. $5,000 unfavorable b. $5,000 favorable c. $2,000 favorable d. $2,000 unfavorable 2. Referring to the facts in question 1 above, what was the material price variance? a. $5,250 favorable b. $5,250 unfavorable c. $5,000 unfavorable d. $5,000 favorableThe standard and actual prices per pound of raw material are $4.00 and $4.50,respectively. A total of 10,500 pounds of raw material was purchased and then usedto produce 5,000 units. The quantity standard allows two pounds of the raw materialper unit produced. What is the materials quantity variance?a. $5,000 unfavorableb. $5,000 favorablec. $2,000 favorabled. $2,000 unfavorable
- Assume the following: • The standard price per pound is $3.00. • The actual quantity of materials purchased is 60,000 pounds. • The actual quantity of materials used in production is 62,000 pounds. • The actual purchase price per pound of materials was $3.10. What is the materials price variance? Multiple Choice O O $6,000 F $6,200 F $6,000 U $6,200 UAssume the following: The standard price per pound is $2.15. The standard quantity of pounds allowed per unit of finished goods is 4 pounds. The actual quantity of materials purchased was 53,000 pounds, whereas the quantity of materials used in production was 50,100 pounds. The actual purchase price per pound of materials was $2.25. The company produced 13,000 units of finished goods during the period. What is the materials quantity variance? Multiple Choice $6,235 F $6,525 F $4,275 F $4,085 FThe standard costs and actual costs for direct materials for the manufacture of 3,000 actual units of product are as follows: Standard CostsDirect materials 1,040 kilograms at $8.75 Actual CostsDirect materials 2,000 kilograms at $8.00 The direct materials price variance is a.$2,750 unfavorable b.$2,750 favorable c.$1,500 favorable d.$1,500 unfavorable
- Assume the following: The actual price per pound is $2.25. The standard quantity of pounds allowed per unit of finished goods is 4 pounds. The actual quantity of materials purchased and used in production is 50,000 pounds. The materials price variance is $12,500 U. The materials quantity variance is $4,000 F. What is the total number of units produced (finished goods) during the period?Assume the following: . The standard price per pound is $2.00. The standard quantity of pounds allowed per unit of finished goods is 4 pounds. · • The actual quantity of materials purchased and used in production is 50,300 pounds. • The actual purchase price per pound of materials was $2.30. The company produced 13,000 units of finished goods during the period. What is the materials price variance? ● Multiple Choice $15,593 U $15,090 F $15,090 U $15,593 FAssume the following: • The standard price per pound is $2.35. • The standard quantity of pounds allowed per unit of finished goods is 4 pounds. • The actual quantity of materials purchased was 53,000 pounds, whereas the quantity of materials used in production was 50,700 pounds. • The actual purchase price per pound of materials was $2.25. • The company produced 13,000 units of finished goods during the period. What is the materials quantity variance? Multiple Choice O о O $3,055 F $5,175 F $2,925 F $5,405 F
- Use the information provided to answer the questions. Actual Price Paid Per Pound of Material: $14.50 Total Standard Pounds for Units Produced This Period 12,500 Pounds of Material Used 13,250 Direct Material Price Variance Favorable $4,637.50 All material purchased was used in production. A. What is the standard price 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?Use the information provided to answer the questions. Actual price paid per pound of material $15.00 Total standard pounds for units produced this period 12,600 Pounds of material used 13,300 Direct materials price variance favorable $3,990.00 All material purchased was used in production. Enter all amounts as positive numbers. A. What is the standard price for materials? Standard price paid $ B. What is the direct materials quantity variance? Direct materials quantity variance $ C. What is the total direct materials cost variance? Total direct materials cost variance $ D. If the direct materials price variance was unfavorable, what would be the standard price? Standard price $Zillow Inc. has the following data related to direct materials costs for the current month: actual cost for 7,000 pounds of material at $2.50 per pound and standard cost for 6,700 pounds of material at $3.20 per pound. What is the direct materials quantity or efficiency variance? Group of answer choices -$4,900 favorable $4,900 unfavorable $960 unfavorable -$960 favorable