Question : 119.A company purchases 12,000 pounds of materials. The materials price : 1311905

 

 

119.A company purchases 12,000 pounds of materials. The materials price variance is $6,000 favorable. What is the difference between the standard and actual price paid for the materials?

a.$1.00

b.$.50

c.$2.00

d.$6.00

 

 

120.A company uses 40,000 gallons of materials for which they paid $7.00 a gallon. The materials price variance was $80,000 favorable.  What is the standard price per gallon?

a.$2

b.$5

c.$7

d.$9

 

 

121.All Urban Company produces a product requiring 4 pounds of material costing $3.50 per pound. During December, All Urban purchased 4,200 pounds of material for $14,112 and used the material to produce 500 products. What was the materials price variance for December?

a.$560 F

b.$588 F

c.$112 U

d.$672 U

 

 

 

 

 

 

 

122.Shipp, Inc. manufactures a product requiring two pounds of direct material. During 2013, Shipp purchases 24,000 pounds of material for $99,200 when the standard price per pound is $4. During 2013, Shipp uses 22,000 pounds to make 12,000 products. The standard direct material cost per unit of finished product is

a.$8.27.

b.$9.01.

c.$8.00.

d.$8.53.

 

 

123.Clark Company manufactures a product with a standard direct labor cost of two hours at $18.00 per hour. During July, 2,000 units were produced using 4,200 hours at $18.30 per hour. The labor quantity variance was

a.$3,660 F.

b.$3,600 U.

c.$2,460 U.

d.$3,660 U.

 

 

124.Clark Company manufactures a product with a standard direct labor cost of two hours at $18.00 per hour. During July, 2,000 units were produced using 4,200 hours at $18.30 per hour. The labor price variance was

a.$1,260 U.

b.$4,860 U.

c.$4,860 F.

d.$3,600 U.

 

 

125.A company developed the following per unit materials standards for its product:  3 pounds of direct materials at $5 per pound. If 12,000 units of product were produced last month and 37,500 pounds of direct materials were used, the direct materials quantity variance was

a.$4,500 favorable.

b.$7,500 unfavorable.

c.$4,500 unfavorable.

d.$7,500 favorable.

 

 

126.The standard direct labor cost for producing one unit of product is 5 direct labor hours at a standard rate of pay of $20. Last month, 15,000 units were produced and 73,500 direct labor hours were actually worked at a total cost of $1,350,000. The direct labor quantity variance was

a.$30,000 unfavorable.

b.$45,000 unfavorable.

c.$45,000 favorable.

d.$30,000 favorable.

 

 

127.Atkins, Inc. produces a product requiring 8 pounds of material at $1.50 per pound. Atkins produced 10,000 units of this product during 2013 resulting in a $30,000 unfavorable materials quantity variance. How many pounds of direct material did Atkins use during 2013?

a.100,000 pounds

b.80,000 pounds

c.160,000 pounds

d.125,000 pounds

 

 

128.Dillon has a standard of 1.5 pounds of materials per unit, at $6 per pound. In producing 2,000 units, Dillon used 3,100 pounds of materials at a total cost of $18,135. Dillon’s total variance is

a.$450 F.

b.$135 U.

c.$465 U.

d.$600 U.