Question

Direct Materials Variances Bellingham Company produces a product that requires 14 standard pounds per unit. The standard price is $6 per pound. If 3,400 units required 49,000 pounds, which were purchased at $6.3 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials 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 $ c. Direct materials cost variance $

Answer #1

direct material price variance | = | (standard price - actual price )actual qty | |||

(6-6.3)49000 | |||||

-14700 |
U |
SP>AP=F | |||

direct material qty variacne | = | (standard qty - actual qty)standard price | |||

(**47600-49000)*6 | |||||

8400 |
F |
AQ>SQ=F | |||

direct material qty variacne | = | standard cost - actual cost | |||

3400*14*$6 | - | 49000*$6.3 | |||

285600 | - | 308700 | |||

-23100 |
U |
SC>AC=F |

****47600= 3400*14**

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