1.) A company has established 4 pounds of Material J at $3 per pound as the standard for the material in its Product Z. The company has just produced 1,300 units of this product, using 5,400 pounds of Material J that cost $14,780.The direct materials price variance is (Do not round intermediate calculations):

$820 favorable.

$1,420 favorable.

$600 unfavorable.

$1,420 unfavorable.

$600 favorable.

2.)

Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units. The direct materials price variance is:

Direct materials standard (7 kg. @ $2.25/kg.)	$15.75 per finished unit
Actual cost of materials purchased	$371,750
Actual direct materials purchased and used	155,000 kg.

$22,000 unfavorable.

$45,000 unfavorable.

$45,000 favorable.

$23,000 unfavorable.

$23,000 favorable.

3.)

The following company information is available for March. The direct materials price variance is:

Direct materials purchased and used	3,400 feet @ $75 per foot
Standard costs for direct materials for March production	3,500 feet @ $73 per foot

$7,000 unfavorable.

$500 favorable.

$6,800 favorable.

$6,800 unfavorable.

$7,000 favorable.

4.)

The standard materials cost to produce 1 unit of Product R is 9 pounds of material at a standard price of $53 per pound. In manufacturing 5,000 units, 44,000 pounds of material were used at a cost of $54 per pound. What is the total direct materials cost variance?

$9,000 unfavorable.

$54,000 favorable.

$54,000 unfavorable.

$9,000 favorable.

$45,000 unfavorable.

5.)

Fletcher Company collected the following data regarding production of one of its products. Compute the total direct labor variance.

Direct labor standard (2 hrs. @ $12.75/hr.)	$25.50 per finished unit
Actual direct labor hours	97,200 hrs.
Actual finished units produced	48,000 units
Actual cost of direct labor	$1,304,650

$80,650 unfavorable.

$80,650 favorable.

$65,350 favorable.

$65,350 unfavorable.

$15,300 favorable.