Crane has a standard of 1.2 pounds of materials per unit, at $8 per pound. In producing 3500 units, Crane used 4300 pounds of materials at a total cost of $33705. Crane's total material variance is O $105 U. O $800 U. O $480 F. O $695 U.
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- Jameson Company produces paper towels. The company has established the following direct materials and direct labor standards for one case of paper towels: During the first quarter of the year, Jameson produced 45,000 cases of paper towels. The company purchased and used 135,700 pounds of paper pulp at 0.38 per pound. Actual direct labor used was 91,000 hours at 12.10 per hour. Required: 1. Calculate the direct materials price and usage variances. 2. Calculate the direct labor rate and efficiency variances. 3. Prepare the journal entries for the direct materials and direct labor variances. 4. Describe how flexible budgeting variances relate to the direct materials and direct labor variances computed in Requirements 1 and 2.The following actual and standard cost data for direct material and direct labor relate to the production of 4,000 units of product: Actual Costs Standard Costs 6,200 lb. @ $3.90 6,000 lb. @ $4.00 Direct Material Direct Labor 4,300 hrs. @ $14.70 4,000 hrs. @ $15.00 Determine the labor rate variance. Select one: a. $1,200 F b. $1,200 U c. $1,290 F d. $1,290 U e. None of the aboveSwifty has a standard of 1.2 pounds of materials per unit, at $4 per pound. In producing 3000 units, Swifty used 3700 pounds of materials at a total cost of $14510. Swifty's total material variance is O $400 U. $110 U. $240 F. Ⓒ$290 U.
- Coronado has a standard of 1.4 pounds of materials per unit, at $7 per pound. In producing 4000 units, Coronado used 5700 pounds of materials at a total cost of $39330. Coronado's total material variance is O $130 U. O $570 U. O $700 U. O $490 F.The 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 unfavorableThe standard costs and actual costs for direct materials for the manufacture of 2,000 actual units of product are as follows: Standard Costs Direct materials 1,040 kilograms at $8.98 Actual Costs Direct materials 2,000 kilograms at $8.40 The direct materials price variance is a.$1,160 unfavorable b.$603 favorable c.$1,160 favorable d.$603 unfavorable
- The following actual and standard cost data for direct material and direct labor relate to the production of 4,000 units of product: Actual Costs Standard Costs 4,900 lb. @ $5.85 5,000 lb. @ $5.90 2,000 hrs. @ $20.00 Direct Material Direct Labor 1,900 hrs. @ $20.50 Determine the labor efficiency variance. Select one: a. $2,000 F b. $2,000 U c. $2,050 F d. $2,050 U e. None of the aboveTools-N-Time has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units, Tools-N-Time used 3,850 hours of labor at a total cost of $46,970. What is Tools-N-Time's total labor variance? a. $770 F b. $800 U b. $1,030 U d. $1,930 UDRS Manufacturing has the following standards for one of its products: Production Costs Direct materials (2 meter @ RM5) RM10 Direct labor (0.5 hour @ RM10) RM5 During the most recent year, the following actual results were recorded: Production Costs Production 6,000 units Direct materials (11,750 meter purchased and used) RM61,100 Direct labor (2,900 hours) RM29,580 required (i) Interpret the materials price and usage variances. (ii) Interpret the labor rate and efficiency variances.
- The following actual and standard cost data for direct material and direct labor relate to the production of 4,000 units of product: Actual Costs Standard Costs Direct Material 6,200 lb. @ $3.90 6,000 lb. @ $4.00 Direct Labor 4,300 hrs. @ $14.70 4,000 hrs. @ $15.00 Determine the materials price variance Select one: a. $620 F b. $620 U c. $180 F d. $180 U e. None of the aboveThe standard costs and actual costs for direct materials for the manufacture of 2,000 actual units of product are as follows: Standard Costs Direct materials 1,040 kilograms at $8.64 Actual Costs Direct materials 2,000 kilograms at $8.30 The direct materials price variance is ①a. 0000 a. $680 favorable b. $354 unfavorable c. $354 favorable d. $680 unfavorableThe standard costs and actual costs for direct materials for the manufacture of 2,000 actual units of product are as follows: Standard Costs Direct materials 2,000 kilograms at $8.70 Actual Costs Direct materials 2,100 kilograms at $8.20 The direct materials quantity variance is a.$870 unfavorable b.$696 unfavorable c.$696 favorable d.$870 favorable