Question

The standard costs for direct materials for the manufacture of 2,660 actual unitsof product are as...

The standard costs for direct materials for the manufacture of 2,660 actual unitsof product are as follows:

standard cost

direct materials 2,660 kilograms @ $8.90

Actual cost

Direct materials 2,800 kilograms @ $8.15  

The direct materials quantity variance is

a. $1,246 favorable

b. $1,246 unfavorable

c. $997 favorable

d. $997 unfavorable

Myers corporation has the following data related to direct materials costs for November: Actual cost for 4,620 pounds of material,$5.00 and standard costs for 4,480 pounds of material at $6.40 per pound.

What is the direct materials quantity variance?

a.$6,468 favorable

b. $6468 unfavorable

I got the claculation for this one $6468 but i need help on understanding how to tell if a product is favorbale or unfavorable. Thank you!

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Homework Answers

Answer #1

Ans.1 option b $1246 unfavourable

Direct materials quantity variance =. (standard quantity - actual quantity) * standard price

=. (2660 - 2800) * 8.90

=. -1246

=. 1246 unfavourable.

Ans.2 option a $6468 favorable

. I think the question is about direct materials price variance.

Direct materials price variance = (standard price - actual price) * actual quantity

=. (6.40 - 5) * 4620

=. 6468 favorable

If the answer is in positive it means the variance is favorable. ( And vice versa)

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