Question

Direct Materials Variances

The following data relate to the direct materials cost for the production of 1,900 automobile tires:

Actual: | 49,200 lbs. at $1.95 per lb. | |

Standard: | 50,200 lbs. at $2.00 per lb. |

**a.** Determine the direct materials price
variance, direct materials quantity variance, and 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.

Direct Materials Price Variance | $ | |

Direct Materials Quantity Variance | $ | |

Total Direct Materials Cost Variance | $ |

**b.** The direct materials price variance should
normally be reported to the . When lower amounts of
direct materials are used because of production efficiencies, the
variance would be reported to the . When the favorable
use of raw materials is caused by the purchase of higher-quality
raw materials, the variance should be reported to
the .

Answer #1

a | |||

Price variance |
-2460 |
Favorable |
=49200*(1.95-2) |

Quantity variance |
-2000 |
Favorable |
=2*(49200-50200) |

Total direct materials cost variance |
-4460 |
Favorable |
=(49200*1.95)-(50200*2) |

b | |||

The direct materials price variance should normally be reported to
the Purchasing Department . If lower amounts of
direct materials had been used because of production efficiencies,
the variance would be reported to the Production
Supervisor . If the favorable use of raw materials had
been caused by the purchase of higher-quality raw materials, the
variance should be reported to the Purchasing
Department |

Direct Materials Variances
The following data relate to the direct materials cost for the
production of 2,000 automobile tires:
Actual:
57,500 lbs. at $2 per lb.
Standard:
55,800 lbs. at $1.95 per lb.
a. Determine the direct materials price
variance, direct materials quantity variance, and 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.
Direct Materials Price Variance
$
Direct Materials Quantity Variance
$...

Direct Materials Variances
The following data relate to the direct materials cost for the
production of 2,100 automobile tires:
Actual:
51,900 lbs. at $1.75 per lb.
Standard:
52,900 lbs. at $1.70 per lb.
a. Determine the direct materials price
variance, direct materials quantity variance, and 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.
Direct Materials Price Variance
$
Direct Materials Quantity Variance
$...

Direct Materials Variances The following data relate to the
direct materials cost for the production of 1,800 automobile tires:
Actual: 59,500 lbs. at $1.7 per lb. Standard: 58,300 lbs. at $1.75
per lb. a. Determine the direct materials price variance, direct
materials quantity variance, and 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. Direct
Materials Price Variance $ Direct Materials Quantity Variance $...

Direct Materials Variances
The following data relate to the direct materials cost for the
production of 1,800 automobile tires:
Actual:
52,000 lbs. at $1.75 per lb.
Standard:
53,000 lbs. at $1.80 per lb.
a. Determine the direct materials price
variance, direct materials quantity variance, and 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.
Direct Materials Price Variance
$
Direct Materials Quantity Variance
$...

Direct Materials Variances
The following data relate to the direct materials cost for the
production of 1,800 automobile tires:
Actual:
52,000 lbs. at $1.9
$98,800
Standard:
50,400 lbs. at $1.95
$98,280
a. Determine the direct materials price
variance, direct materials quantity variance, and 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.
Price variance
$
Quantity variance
$
Total direct materials cost variance
$...

Direct Materials Variances
The following data relate to the direct materials cost for the
production of 2,100 automobile tires:
Actual:
60,300 lbs. at $1.75
$105,525
Standard:
58,500 lbs. at $1.8
$105,300
a. Determine the direct materials price
variance, direct materials quantity variance, and 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.
Price variance
$
Quantity variance
$
Total direct materials cost variance
$...

Direct Materials Variances
The following data relate to the direct materials cost for the
production of 2,500 automobile tires:
Actual:
49,500 lbs. at $1.9 per lb.
Standard:
51,000 lbs. at $1.95 per lb.
a. Determine the direct materials price
variance, direct materials quantity variance, and 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.
Direct Materials Price Variance
$
Direct Materials Quantity Variance
$...

he following data relate to the direct materials cost for the
production of 2,200 automobile tires: Actual: 59,100 lbs. at $1.8
per lb. Standard: 60,900 lbs. at $1.75 per lb. a. Determine the
direct materials price variance, direct materials quantity
variance, and 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. Direct Materials Price
Variance $ Direct Materials Quantity Variance $ Total Direct
Materials...

Direct Materials Variances
The following data relate to the direct materials cost for the
production of 2,200 automobile tires:
Actual:
54,000 lb. at $1.90
Standard:
55,600 lb. at $1.95
a. Determine the direct materials price
variance, direct materials quantity variance, and 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.
Price variance
$
Quantity variance
$
Total direct materials cost variance
$

The following data relate to the direct materials cost for the
production of 2,200 automobile tires:
Actual:
52,200 lbs. at $1.95 per lb.
Standard:
50,600 lbs. at $1.90 per lb.
a. Determine the direct materials price
variance, direct materials quantity variance, and 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.
Direct Materials Price Variance
Direct Materials Quantity Variance
Total Direct Materials Cost Variance...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 1 minute ago

asked 7 minutes ago

asked 11 minutes ago

asked 13 minutes ago

asked 29 minutes ago

asked 41 minutes ago

asked 52 minutes ago

asked 53 minutes ago

asked 1 hour ago

asked 2 hours ago

asked 2 hours ago

asked 3 hours ago