Question

1 Bellingham Company produces a product that requires 16 standard pounds per unit. The standard price is $9.5 per pound. If 3,300 units used 51,200 pounds, which were purchased at $9.69 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

a. Direct materials price variance	$	Unfavorable
b. Direct materials quantity variance	$	Favorable
c. Direct materials cost variance	$	Favorable

2. Crazy Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (2,980 bars) are as follows:

Ingredient	Quantity		Price
Cocoa	510	lbs.	$0.30		per lb.
Sugar	150	lbs.	$0.60		per lb.
Milk	120	gal.	$1.70		per gal.

Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent.
$ per bar

3. Atlas Furniture Company manufactures designer home furniture. Atlas uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows:

Direct labor:	standard rate	$26.00 per hr.
	standard time per unit	3 hrs.
Direct materials (oak):	standard price	$11.00 per bd. ft.
	standard quantity	15 bd. ft.
Variable factory overhead:	standard rate	$2.80 per direct labor hr.
Fixed factory overhead:	standard rate	$0.80 per direct labor hr.

a. Determine the standard cost per dining room table. If required, round your answer to two decimal places.
$ per table

4. De Soto Inc. produces tablet computers. The company uses Thin Film Crystal (TFC) LCD displays for its products. Each tablet uses one display. The company produced 770 tablets during July. However, due to LCD defects, the company actually used 800 LCD displays during July. Each display has a standard cost of $12.50. Eight hundred LCD displays were purchased for July production at a cost of $9,400.

Determine the price variance, quantity variance, and total direct materials cost variance for July.

Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Price variance	$	Favorable
Quantity variance	$	Unfavorable
Total direct materials cost variance	$	Favorable

5. The following data relate to labor cost for production of 5,500 cellular telephones:

Actual:	3,710 hrs. at $13.60
Standard:	3,650 hrs. at $13.80

a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Rate variance	$	Favorable
Time variance	$	Unfavorable
Total direct labor cost variance	$	Unfavorable

6.

The following data relate to factory overhead cost for the production of 4,000 computers:

Actual:	Variable factory overhead	$108,600
	Fixed factory overhead	24,000
Standard:	4,000 hrs. at $32	128,000

If productive capacity of 100% was 6,000 hours and the total factory overhead cost budgeted at the level of 4,000 standard hours was $136,000, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $4 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Variance	Amount	Favorable/Unfavorable
Controllable variance	$	Favorable
Volume variance	$	Unfavorable
Total factory overhead cost variance	$	Unfavorable

Answer 1

Solution of one independent question :-

1 Bellingham Company produces a product that requires 16 standard pounds per unit. The standard price is $9.5 per pound. If 3,300 units used 51,200 pounds, which were purchased at $9.69 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

price variance:- ( SP -AP ) * AQ Purchased

( 9.5 - 9.69 ) * 51200 = $ 9728 ( Unfav.)

quantity variance :- ( SQ allowed - AQ used ) * SP
[( 3300 * 16 ) - 51200 ] * 9.5 = $ 15200 ( fav. )

cost variance :- SC - AC

[ 3300 * 16 * 9.5 ] - [ 51200 * 9.69 ] = 501600 - 496128 = 5472 ( fav.)

Note :-

An expert answerer is required to answer 1 independent question or 4 MCQs in a single post.

Please ask other questions separately.