Question

The standard costs and actual costs for direct materials for the manufacture of 2,840 actual units...

The standard costs and actual costs for direct materials for the manufacture of 2,840 actual units of product are as follows:

Standard Costs
Direct materials 2,840 kilograms @$8.60

Actual Costs
Direct materials 2,900 kilograms @ $8.35

The direct materials quantity variance is

a.$516 unfavorable

b.$516 favorable

c.$413 unfavorable

d.$413 favorable

Business   Accounting   
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Homework Answers

Answer #1

We know, Direct materials quantity variance = Standard cost of direct materials - Actual quantity of direct materials at standard price = (standard price * standard quantity) - (standard price * actual quantity)

We also know that, standard quantity of materials = 2840 kilograms; Standard cost = $8.60

Actual quantity of materials = 2900 kilograms ; Actual cost = $ 8.35

Thus, from the above formula, Direct materials quantity variance = (2840 * 8.60) - (2900 * 8.60) = $24424 - $24940 = ($516) unfavourable

Hence option (a) is the correct answer.

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