Purchase Solution

Quantity variance and other material variances

Not what you're looking for?

Ask Custom Question

Standard and actual costs for direct materials for the manufacture of 1,000 units of product were as follows:

Actual costs 1,550 lbs. @ $9.10
Standard costs 1,600 lbs. @ $9.00

Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance.

Purchase this Solution
Solution Summary

This solution provides the steps to compute the quantity variance, price variance, total direct materials cost variance.

Solution Preview

** Please see the attached file for the complete solution response **

Determine the (a) quantity variance, (b) price variance, ...

Purchase this Solution
Free BrainMass Quizzes
Motivation

This tests some key elements of major motivation theories.

Paradigms and Frameworks of Management Research

This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.

Lean your Process

This quiz will help you understand the basic concepts of Lean.

Basics of corporate finance

These questions will test you on your knowledge of finance.

Situational Leadership

This quiz will help you better understand Situational Leadership and its theories.

View More Free Quizzes
Related BrainMass Solutions

  • Price and Quantity Variances for Material and Labor

    Material Quantity Variance on the other hand represents the difference between standard cost of actual usage and standard usage of material. 3) The favorable material quantity variance may have caused due to economical usage of material.. 4) The

  • Direct Materials and Labor Variances

    Compute the direct materials price and quantity of variances.

  • Calculating Material and Labor Variances

    Calculate material price and quantity variances and labor rate and efficiency variances. Indicate whether the variances are favorable or unfavorable. (If answer is negative, put amount in parenthesis.)

  • Direct material and labor variances

    The following information comes from the accounting records Required Compute the appropriate direct material and direct labor variances. Compute the appropriate direct material and direct labor variances. 1. Direct material variance a.

  • Direct material/labor variances

    Direct-labor efficiency variance. Need help computing direct material price and quantity variances, and direct labor rate and efficiency variances.

  • Standards and Budgets, and Direct Labor Variance Matrix

    Poor scheduling Responsibility on production departmental head material cost variance (standard quantity*standard price)-(Actual quantity*actual price) -4000 unfavourable material cost variance material

  • Total Materials Variance and Materials Price Variance

    Compute the total, price, and quantity variances for materials. Total materials variance $ Materials price variance $ Materials quantity variance $ Dear student, Solution to your posted problem is provided herewith.

  • Material and Labor Price Variance Standard Costing

    $130,000 F Total of direct quantity variance = Direct material price variance + Direct material quantity variance $40,000 F = $120,000 F + b b = 80,000 U Material price variance = actual quantity purchased x difference between actual and standard

  • Sonne Company: Material Variance

    Task: Compute the direct materials price and quantity variances for the month. 1. Compute the direct materials price and quantity variances for the month.

  • Material & Labor Variances with Formula

    Standard Overhead - Actual Overhead The solution provies Material & Labor Variances formula's and calculate variances for Rapache Clothiers.

View More Related Solutions