Venneman Company produces a product that requires 5 standard pounds per unit. The standard price is $11.00 per pound. If 2,900 units required 14,900 pounds, which were purchased at $10.45 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter

Q: Consider the following data for Martin Manufacturing during the month of November:…

A: Answer) Calculation of Material Price variance Material price variance = (Standard price per pound…

Q: Bellingham Company produces a product that requires 10 standard pounds per unit. The standard price…

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

Q: Ruby Company produces a chair that requires 6 yards of material per unit. The standard price of one…

A: Introduction: Variance analysis is a quantitative examination of the difference between actual and…

Q: Martin, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is1.0…

A: Formula: Direct Materials Cost Variance = ( Actual Cost - Standard Cost ) × Actual Quantity

Q: The standard materials cost to produce 1 unit of Product R is 6 pounds of material at a standard…

A: To calculate: DM quantity variance   Standard quantity = 6,600 units x 6 = 39,600 pounds Actual…

Q: Ben mean company produces a product that requires 4 standard hours per unit at a standard hourly…

A: Given, Actual rate per hour = $11.85 Standard rate per hour = $12 Actual hours = 58,000 hours

Q: The united Company produced 2,500 units of the product X by using 4,700 kg  of direct  materials A…

A: This question deals with the calculation of direct material efficiency variance. Direct material…

Q: For the current period, Juan Company’s standard cost of direct materials is $140,000. The direct…

A: Actual cost of direct material means the cost which has been actually incurred on the direct…

Q: Assume the following: • The standard price per pound is $2.00. • The standard quantity allowed per…

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

Q: Brookman, Inc. manufactures lead crystal glasses. The standard direct labor time is 0.5 hour per​…

A: Standard hours means standard hours for actual output  = 6800×0.5 =3400 hours

Q: Ruby Company produces a chair for which the standard specifies 3 yards of material per unit. The…

A: Direct materials cost variance =Direct materials price variance +Direct materials quantity variance

Q: Perez, Inc. recently completed 45,000 units of a product that was expected to consume five pounds of…

A: Standard price =$5.50 per poundStandard quantity =5 pound per unitActual output=45000…

Q: Edgar, Inc. has a materials price standard of $2.00 per pound. Six thousand pounds of materials were…

A: Formula: Material Quantity variance = (Standard quantity of material allowed for Actual output –…

Q: The standard quantity allowed for the units produced was 4,500 pounds, the standard price was P2.50…

A: Standard quantity allowed for actual production  =4500 pounds Standard quantity per unit = 1 pound

Q: The following data relate to the direct materials cost for the production of 50,000 automobile…

A: Introduction- Standard Costing is a concept of accounting for determination of standard for each…

Q: A company uses 4,690 kilograms of materials and exceeds the standard by 690 kilograms. The quantity…

A: Material quantity variance is that part of material cost variance which is due to the difference…

Q: The standard price of materials is $3.6 per pound and the standard quantity allowed for actual…

A: Introduction: Direct materials quantity variation is caused by the difference between both the…

Q: Ruby company produces a chair that requires 6 yds. of material per unit. The standard price of one…

A: Variance is an important concept in accounting. It refers to the difference between a budgeted or a…

Q: o Yealink Company produces a product that requires 5.0 standard pounds per unit. The standard price…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: For the current period, Juan Company's standard cost of direct materials is $170,000. The direct…

A: A variance is a difference between a planned amount and the actual amount incurred. Variance can be…

Q: he standard costs and actual costs for direct materials for the manufacture of 2,800 actual units of…

A: Variance analysis is a type of analysis that is used to distinguish between actual and planned…

Q: Encinas Company produces a product that requires 6 standard pounds per unit. The standard price is…

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

Q: Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as…

A: Calculate the quantity variance as follows : Quantity variance is calculated as a product of the…

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

A: Material Cost Variance: The difference between the standard cost of direct materials specified for…

Q: Oliver Enterprises has collected the following data for one of its​ products: Direct materials…

A: Given,  Actual quantity of material used = 40000 pounds Standard price = $ 0.44 per pounds  Standard…

Q: Production of each unit of 001 requires 8 lbs. of B at a cost of P9 per lb. and 4 lbs. of X at…

A: Standard                       Qty      Rate            Amt Material B     8000     P9…

Q: Ruby Company produces a chair that requires 5 yards of material per unit. The standard price of one…

A: Here Price Variance we will get  [ Bud. Price - Actual Price] x Budgeted Qty Produced…

Q: Myers Corporation has the following data related to direct materials costs for November: actual cost…

A: Direct material price variance = (Standard Price - Actual Price) x Actual Quantity Variance is…

Q: Venneman Company produces a product that requires 2 standard hours per unit at a standard hourly…

A: Solution a: Direct labor rate variance = (SR - AR) * AH = ($15 - $14.70)* 8900 =$2,670 F

Q: The standard price of materials is $4.6 per pound and the standard quantity allowed for actual…

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

Q: ToolTime has a standard of 1.5 pounds of materials per unit, at P4 per pound. In producing 2,000…

A: Total material variance = (standard quantity *standard price) - (Actual quantity*Actual price)…

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

A: The calculation of direct materials price, quantity, and cost variance is as follows: The resultant…

Q: Todco planned to produce 3,000 units of its single product, Teragram, during November. The standard…

A: In Standard costing system, a standard or estimated cost is calculated for each item like direct…

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: Ryker Company produces a product that requires 2 standard gallons per unit. The standard price is…

A: Direct Material price variance = (Standard price per gallons - actual price per gallons )*actual…

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

A: Direct material cost variance = Actual material cost - Standard material cost  Actual material used…

Q: Acme Inc. has the following information available: Actual price paid for material $1.00 Standard…

A: Note: As per the Policy , we can only answer up to 3 sub-parts, we’ll answer the first 3. Please…

Q: Assume the following: The standard price per pound is $2.15. The standard quantity of pounds…

A: The material quantity variance is calculated as difference of standard price of materials minus…

Q: Steinberg Company had the following direct materials costs for the manufacturing of product T in…

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

Q: has a standard of 2 pounds of materials per unit, at $6 per pound. In producing 2,000 units, Yari…

A: Material quantity variance = (Standard quantity - Actual quantity) x Standard price Material…

Q: Woody Company produces a product that requires 2 standard gallons per unit. The standard price is…

A: The variance is the difference between actual value and budgeted value.

Q: What is the direct labor rate variance? What is the direct labor time variance?

A: Variance analysis is the analysis of actual and budgeted figures of production and related…

Q: Japan Company produces lamps that require 3 standard hours per unit at a standard hourly rate of…

A: Direct labor rate variance = (Actual rate - Standard rate)*Actual hours. If the actual rate is more…

Q: Assume the following: • The standard price per pound is $2.00. • The standard quantity of pounds…

A: Material Price Variance - It is calculated by using following formula - (Actual Quantity Purchased *…

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

A: