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Business
AccountingSurvey of Accounting (Accounting I)8th Edition

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Chapter 13, Problem 22CDQ
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Survey of Accounting (Accounting I)

8th Edition
Carl Warren
ISBN: 9781305961883

Solutions

Chapter
Section
Problem 1SEQ
Problem 2SEQ
Problem 3SEQ
Problem 4SEQ
Problem 5SEQ
Problem 1CDQ
Problem 2CDQ
Problem 3CDQ
Problem 4CDQ
Problem 5CDQ
Problem 6CDQ
Problem 7CDQ
Problem 8CDQ
Problem 9CDQ
Problem 10CDQ
Problem 11CDQ
Problem 12CDQ
Problem 13CDQ
Problem 14CDQ
Problem 15CDQ
Problem 16CDQ
Problem 17CDQ
Problem 18CDQ
Problem 19CDQ
Problem 20CDQ
Problem 21CDQ
Problem 22CDQ
Problem 23CDQ
Problem 24CDQ
Problem 25CDQ
Problem 26CDQ
Problem 13.1E
Problem 13.2E
Problem 13.3E
Problem 13.4E
Problem 13.5E
Problem 13.6E
Problem 13.7E
Problem 13.8E
Problem 13.9E
Problem 13.10E
Problem 13.11E
Problem 13.12E
Problem 13.13E
Problem 13.14E
Problem 13.15E
Problem 13.16E
Problem 13.17E
Problem 13.18E
Problem 13.19E
Problem 13.20E
Problem 13.21E
Problem 13.22E
Problem 13.23E
Problem 13.24E
Problem 13.25E
Problem 13.26E
Problem 13.27E
Problem 13.28E
Problem 13.29E
Problem 13.30E
Problem 13.1.1P
Problem 13.1.2P
Problem 13.1.3P
Problem 13.1.4P
Problem 13.2.1P
Problem 13.2.2P
Problem 13.2.3P
Problem 13.2.4P
Problem 13.2.5P
Problem 13.2.6P
Problem 13.2.7P
Problem 13.2.8P
Problem 13.3.1P
Problem 13.3.2P
Problem 13.4P
Problem 13.5P
Problem 13.6.1P
Problem 13.6.2P
Problem 13.6.3P
Problem 13.6.4P
Problem 13.6.5P
Problem 13.6.6P
Problem 13.7P
Problem 13.1.1MBA
Problem 13.1.2MBA
Problem 13.1.3MBA
Problem 13.1.4MBA
Problem 13.1.5MBA
Problem 13.1.6MBA
Problem 13.2.1MBA
Problem 13.2.2MBA
Problem 13.2.3MBA
Problem 13.2.4MBA
Problem 13.2.5MBA
Problem 13.3.1MBA
Problem 13.3.2MBA
Problem 13.3.3MBA
Problem 13.3.4MBA
Problem 13.4.1MBA
Problem 13.4.2MBA
Problem 13.4.3MBA
Problem 13.4.4MBA
Problem 13.5.1MBA
Problem 13.5.2MBA
Problem 13.5.3MBA
Problem 13.5.4MBA
Problem 13.6.1MBA
Problem 13.6.2MBA
Problem 13.6.3MBA
Problem 13.7.1MBA
Problem 13.7.2MBA
Problem 13.7.3MBA
Problem 13.1C
Problem 13.2.1C
Problem 13.2.2C
Problem 13.3.1C
Problem 13.3.2C
Problem 13.4C
Problem 13.5.1C
Problem 13.5.2C
Problem 13.6C
Problem 13.7C
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Survey of Accounting (Accounting I)

8th Edition
Carl Warren
ISBN: 9781305961883
Textbook Problem

a. What are the two variances between the actual cost and the standard cost for direct materials?
b. Discuss some possible causes of these variances.

To determine

Concept Introduction:

Direct material variances:

Direct material variances refer to the difference between the standard direct material cost and actual direct material cost incurred. Direct material cost variances are categorized into following two categories:

  1. Direct material Rate variance: this variance shows the difference of standard rate and actual rate of material. The formula to calculate this variance is as follows:

    2.   Direct material rate variance = (Actual rate – Standard rate) ×Actual Quantity

  2. Direct material usage variance: this variance shows the difference of standard usage and actual usage of material. The formula to calculate this variance is as follows:

    3.   Direct material usage variance = (Actual Quantity – Standard Quantity)×Standard rate

  3. Direct material cost variance: this variance shows the difference of standard cost and actual cost of material. The formula to calculate this variance is as follows:

    4.   Direct material cost variance = Direct material rate variance + Direct material usage variance

To Indicate:

Two variances between the material actual and standard costs and possible causes for these variances

Explanation

Direct material Rate variance: this variance shows the difference of standard rate and actual rate of material. The formula to calculate this variance is as follows:

  Direct material rate variance = (Actual rate – Standard rate) ×Actual Quantity

Direct material usage variance: this variance shows the difference of standard usage and actual usage of material. The formula to calculate this variance is as follows:

  Direct material usage variance = (

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Ch-13 P-1SEQCh-13 P-2SEQCh-13 P-3SEQCh-13 P-4SEQCh-13 P-5SEQCh-13 P-1CDQCh-13 P-2CDQCh-13 P-3CDQCh-13 P-4CDQCh-13 P-5CDQ
Ch-13 P-6CDQCh-13 P-7CDQCh-13 P-8CDQCh-13 P-9CDQCh-13 P-10CDQCh-13 P-11CDQCh-13 P-12CDQCh-13 P-13CDQCh-13 P-14CDQCh-13 P-15CDQCh-13 P-16CDQCh-13 P-17CDQCh-13 P-18CDQCh-13 P-19CDQCh-13 P-20CDQCh-13 P-21CDQCh-13 P-22CDQCh-13 P-23CDQCh-13 P-24CDQCh-13 P-25CDQCh-13 P-26CDQCh-13 P-13.1ECh-13 P-13.2ECh-13 P-13.3ECh-13 P-13.4ECh-13 P-13.5ECh-13 P-13.6ECh-13 P-13.7ECh-13 P-13.8ECh-13 P-13.9ECh-13 P-13.10ECh-13 P-13.11ECh-13 P-13.12ECh-13 P-13.13ECh-13 P-13.14ECh-13 P-13.15ECh-13 P-13.16ECh-13 P-13.17ECh-13 P-13.18ECh-13 P-13.19ECh-13 P-13.20ECh-13 P-13.21ECh-13 P-13.22ECh-13 P-13.23ECh-13 P-13.24ECh-13 P-13.25ECh-13 P-13.26ECh-13 P-13.27ECh-13 P-13.28ECh-13 P-13.29ECh-13 P-13.30ECh-13 P-13.1.1PCh-13 P-13.1.2PCh-13 P-13.1.3PCh-13 P-13.1.4PCh-13 P-13.2.1PCh-13 P-13.2.2PCh-13 P-13.2.3PCh-13 P-13.2.4PCh-13 P-13.2.5PCh-13 P-13.2.6PCh-13 P-13.2.7PCh-13 P-13.2.8PCh-13 P-13.3.1PCh-13 P-13.3.2PCh-13 P-13.4PCh-13 P-13.5PCh-13 P-13.6.1PCh-13 P-13.6.2PCh-13 P-13.6.3PCh-13 P-13.6.4PCh-13 P-13.6.5PCh-13 P-13.6.6PCh-13 P-13.7PCh-13 P-13.1.1MBACh-13 P-13.1.2MBACh-13 P-13.1.3MBACh-13 P-13.1.4MBACh-13 P-13.1.5MBACh-13 P-13.1.6MBACh-13 P-13.2.1MBACh-13 P-13.2.2MBACh-13 P-13.2.3MBACh-13 P-13.2.4MBACh-13 P-13.2.5MBACh-13 P-13.3.1MBACh-13 P-13.3.2MBACh-13 P-13.3.3MBACh-13 P-13.3.4MBACh-13 P-13.4.1MBACh-13 P-13.4.2MBACh-13 P-13.4.3MBACh-13 P-13.4.4MBACh-13 P-13.5.1MBACh-13 P-13.5.2MBACh-13 P-13.5.3MBACh-13 P-13.5.4MBACh-13 P-13.6.1MBACh-13 P-13.6.2MBACh-13 P-13.6.3MBACh-13 P-13.7.1MBACh-13 P-13.7.2MBACh-13 P-13.7.3MBACh-13 P-13.1CCh-13 P-13.2.1CCh-13 P-13.2.2CCh-13 P-13.3.1CCh-13 P-13.3.2CCh-13 P-13.4CCh-13 P-13.5.1CCh-13 P-13.5.2CCh-13 P-13.6CCh-13 P-13.7C

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