Question
15. The material price variance uses the quantity of material _____, while the material quantity variance uses the quantity of material _____. A. purchased, used
15. The material price variance uses the quantity of material _____, while the material quantity variance uses the quantity of material _____. A. purchased, used B. used, budgeted C. budgeted, wasted D. wasted, purchased
16. A dress company has the following standards to make one dress:
Standard Quantity Standard Price
Direct materials 3 yards per unit $6.50 per yard
Direct labor 1.5 hours per unit $8.00 per hour
The company used 8,000 yards of material in order to make 2,500 dresses in April. The direct materials quantity variance is:
A. $3,250 unfavorable.
B. $1,500 unfavorable.
C. $1,500 favorable.
D. $3,250 favorable.
17. A dress company has the following standards to make one dress:
Standard Quantity Standard Price
Direct materials 3 yards per unit $6.50 per yard
Direct labor 1.5 hours per unit $8.00 per hour
The company purchased 3,000 yards of material in March for $21,000. The company used 2,800 yards in March in order to make 7,700 dresses. The direct materials price variance is:
A. $1,400 unfavorable.
B. $1,500 unfavorable.
C. $1,400 favorable.
D. $1,500 favorable.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started