Question : 71. The standard costs and actual costs for direct materials for : 1233892

 

71. The standard costs and actual costs for direct materials for the manufacture of 2,500 actual units of product are as follows: 

Standard Costs

Direct materials (per completed unit)

1.04 kilograms @$8.75

 

 

 

 

Actual Costs

Direct materials

2,500 kilograms @ $8

 

 

The amount of direct materials price variance is: A. $1,875 unfavorableB. $1,950 favorableC. $1,875 favorableD. $1,950 unfavorable

72. The standard costs and actual costs for direct materials for the manufacture of 2,500 actual units of product are as follows: 

Standard Costs

Direct materials

2,500 kilograms @ $8

 

 

 

 

Actual Costs

Direct materials

2,600 kilograms @ $8.75

 

 

The amount of the direct materials quantity variance is: A. $875 favorableB. $800 unfavorableC. $800 favorableD. $875 unfavorable

73. The following data relate to direct materials costs for November: 

Actual costs

4,600 pounds at $5.50

Standard costs

4,500 pounds at $6.00

 

 

What is the direct materials price variance? A. $2,250 favorableB. $2,250 unfavorableC. $2,300 favorableD. $1,700 unfavorable

74. The following data relate to direct materials costs for November: 

Actual costs

4,600 pounds at $5.50

Standard costs

4,500 pounds at $6.00

 

 

What is the direct materials quantity variance? A. $550 unfavorableB. $600 favorableC. $550 favorableD. $600 unfavorable

75. If the actual quantity of direct materials used in producing a commodity differs from the standard quantity, the variance is termed: A. controllable varianceB. price varianceC. quantity varianceD. rate variance

76. If the price paid per unit differs from the standard price per unit for direct materials, the variance is termed: A. variable varianceB. controllable varianceC. price varianceD. volume variance

77. The following data is given for the Walker Company: 

Budgeted production

1,000 units

Actual production

   980 units

Materials:

 

  Standard price per lb

$2.00

  Standard pounds per completed unit

12

  Actual pounds purchased and used in production

11,800

  Actual price paid for materials

$23,000

Labor:

 

  Standard hourly labor rate

$14 per hour

  Standard hours allowed per completed unit

4.5

  Actual labor hours worked

4,560

  Actual total labor costs

$62,928

Overhead:

 

  Actual and budgeted fixed overhead

$27,000

  Standard variable overhead rate

$3.50 per standard labor hour

  Actual variable overhead costs

$15,500

 

 

  Overhead is applied on standard labor hours. The direct material price variance is: A. 600FB. 600UC. 80FD. 80U

78. The following data is given for the Walker Company: 

Budgeted production

1,000 units

Actual production

   980 units

Materials:

 

  Standard price per lb

$2.00

  Standard pounds per completed unit

12

  Actual pounds purchased and used in production

11,800

  Actual price paid for materials

$23,000

Labor:

 

  Standard hourly labor rate

$14 per hour

  Standard hours allowed per completed unit

4.5

  Actual labor hours worked

4,560

  Actual total labor costs

$62,928

Overhead:

 

  Actual and budgeted fixed overhead

$27,000

  Standard variable overhead rate

$3.50 per standard labor hour

  Actual variable overhead costs

$15,500

 

 

  Overhead is applied on standard labor hours. The direct material quantity variance is: A. 600FB. 600UC. 80FD. 80U

79. The following data is given for the Walker Company: 

Budgeted production

26,000 units

Actual production

27,500 units

Materials:

 

  Standard price per ounce

$6.50

  Standard ounces per completed unit

8

  Actual ounces purchased and used in production

228,000

  Actual price paid for materials

$1,504,800

Labor:

 

  Standard hourly labor rate

$22 per hour

  Standard hours allowed per completed unit

6.6

  Actual labor hours worked

183,000

  Actual total labor costs

$4,020,000

Overhead:

 

  Actual and budgeted fixed overhead

$1,029,600

  Standard variable overhead rate

$24.50 per standard labor hour

  Actual variable overhead costs

$4,520,000

 

 

  Overhead is applied on standard labor hours. The direct material price variance is: A. 22,800UB. 22,800FC. 52,000UD. 52,000F

80. The following data is given for the Walker Company: 

Budgeted production

26,000 units

Actual production

27,500 units

Materials:

 

  Standard price per ounce

$6.50

  Standard ounces per completed unit

8

  Actual ounces purchased and used in production

228,000

  Actual price paid for materials

$1,504,800

Labor:

 

  Standard hourly labor rate

$22 per hour

  Standard hours allowed per completed unit

6.6

  Actual labor hours worked

183,000

  Actual total labor costs

$4,020,000

Overhead:

 

  Actual and budgeted fixed overhead

$1,029,600

  Standard variable overhead rate

$24.50 per standard labor hour

  Actual variable overhead costs

$4,520,000

 

 

  Overhead is applied on standard labor hours. The direct material quantity variance is: A. 22,800FB. 22,800UC. 52,000FD. 52,000U

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more