Find what is the direct materials price variance

Assignment Help Managerial Accounting
Reference no: EM132973572

Problem 1: The standard materials cost to produce 1 unit of Product R is 6 pounds of material at a standard price of $58 per pound. In manufacturing 6,700 units, 38,000 pounds of material were used at a cost of $60 per pound. What is the direct materials price variance?

Multiple Choice

Option 1: $76,000 unfavorable.
Option 2: $76,000 favorable.
Option 3: $127,600 unfavorable.
Option 4: $127,600 favorable.
Option 5: $51,600 favorable.

Reference no: EM132973572

Questions Cloud

What total august sales are anticipated to be : Units are going to be sold at a price of $10.00 per unit. The management forecasts 2% growth in sales each month. Total August sales are anticipated to be
What number of electric stapler sales budgeted for march be : If 10,000 units were sold in December, and management forecasts 3.8% growth in sales each month, the number of electric stapler sales budgeted for March be
What is actual total direct labor cost for current period : Direct labor rate variance and a $4,260 favorable direct labor efficiency variance. What is the actual total direct labor cost for the current period?
What the direct materials quantity variance is : Georgia, Inc. has collected the data on one of its products. The direct materials quantity variance is? Total direct materials cost variance-unfavorable $15,750
Find what is the direct materials price variance : In manufacturing 6,700 units, 38,000 pounds of material were used at a cost of $60 per pound. What is the direct materials price variance?
What the direct materials quantity variance is : Georgia, Inc. has collected the data on one of its products. The direct materials quantity variance is? Total direct materials cost variance-unfavorable $15,750
What the direct materials quantity variance is : Georgia, Inc. has collected the data on one of its products. The direct materials quantity variance is? Total direct materials cost variance-unfavorable $15,750
What the direct materials quantity variance is : Georgia, Inc. has collected the data on one of its products. The direct materials quantity variance is? Total direct materials cost variance-unfavorable $15,750
Find what the budgeted amount of variable costs for units be : Find what the budgeted amount of variable costs for 17,000 units would be? Based on a predicted level of production and sales of 19,000 units.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Why in the responsibility accounting system

Why in the responsibility accounting system, service department costs must be charged to the user department using the billing rates specified in advance

  How should research and development costs be accounted for

How should research and development costs be accounted for? Must be capitalized when incurred and then amortized over their estimated useful lives.

  Find the operating income for the month of February

Direct Materials decrease by 4%; Direct Labour increase by 3%; variable overhead decreased by 6%; Find the operating income for the month of February

  Which factoring receivables is beneficial to a seller

Which Factoring receivables is beneficial to a seller? Seller avoids the cost of billing and accounting for receivables./ Allows firms to receive cash earlier.

  What were merchandise purchases in November

In November, payments of Accounts Payable were $306,500, and Cost of Goods Sold was $322,223. What were merchandise purchases in November

  Determine the number of whole units

Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Drawing Department.

  What the variable overhead efficiency variance for july is

What The variable overhead efficiency variance for July is? The direct materials purchases variance is computed when the materials are purchased.

  Do think the purchasing manager was correct to buy

Purchasing Manager and the Production Manager. Do you think the Purchasing Manager was correct to buy cloth at £4.25 if it was responcible

  What was the unit cost valuation for product

What was the unit cost valuation for product 3 using the sales revenue basis for allocating joint costs assuming that the revenue receivable

  What are the fy balances in alpha company account

On January 1, 2017, What are the FY 2017 balances in Alpha Company's account balances for Investment in Bravo-Zulu and Investment Income.

  How much would total income for the year change

If the bank responds to the new customer profitability numbers by letting one retail customer go, by how much would its total income for the year change?

  Why do companies budget and what are the benefits

Why do companies budget? What are the benefits? What can budgets be used for when evaluating company/department performance?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd