1 Direct Materials Variances Venneman Company produces a product that requires 3 5 standard pounds per unit The standard price is $5 10 per pound If 14,000 units required 48,000 pounds, which were purchased at $5 40 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) 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 a Direct materials price variance $ Unfavorable b Direct materials quantity variance $ Favorable c Total direct materials cost variance $ Unfavorable 2 Direct Materials Variances Encinas Company produces a product that requires 6 standard pounds per unit The standard price is $1 75 per pound If 2,300 units required 13,400 pounds, which were purchased at $2 00 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) 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 a Direct materials price variance $fill in the blank 1 Unfavorable b Direct materials quantity variance $fill in the blank 3 Favorable c Total direct materials cost variance $fill in the blank 5 Unfavorable 3 Direct Labor Variances Venneman Company produces a product that requires 4 standard hours per unit at a standard hourly rate of $12 per hour If 14,000 units required 58,000 hours at an hourly rate of $11 85 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total direct labor cost variance Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number a Direct labor rate variance $fill in the blank 1 Favorable b Direct labor time variance $fill in the blank 3 Unfavorable c Total direct labor cost variance $fill in the blank 5 Unfavorable 4 Direct Labor Variances Encinas Company produces a product that requires 3 standard hours per unit at a standard hourly rate of $21 per hour If 2,300 units required 6,600 hours at an hourly rate of $20 50 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total direct labor cost variance Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number a Direct labor rate variance $fill in the blank 1 Favorable b Direct labor time variance $fill in the blank 3 Favorable c Total direct labor cost variance $fill in the blank 5 Favorable 5 Factory Overhead Controllable Variance Venneman Company produced 14,000 units of product that required 4 standard hours per unit The standard variable overhead cost per unit is $0 80 per hour The actual variable factory overhead was $46,100 Determine the variable factory overhead controllable variance Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number $ Unfavorable 6 Factory Overhead Controllable Variance Encinas Company produced 2,300 units of product that required 3 standard hours per unit The standard variable overhead cost per unit is $1 90 per hour The actual variable factory overhead was $11,905 Determine the variable factory overhead controllable variance Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number $ Favorable

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1.Direct Materials Variances Venneman Company produces a product that requires 3.5 standard pounds per unit. The standard price is $5.10 per pound. If 14,000 units

1.Direct Materials Variances

Venneman Company produces a product that requires 3.5 standard pounds per unit. The standard price is $5.10 per pound. If 14,000 units required 48,000 pounds, which were purchased at $5.40 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) 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.

a. Direct materials price variance	$	Unfavorable
b. Direct materials quantity variance	$	Favorable
c. Total direct materials cost variance	$	Unfavorable

2. Direct Materials Variances

Encinas Company produces a product that requires 6 standard pounds per unit. The standard price is $1.75 per pound. If 2,300 units required 13,400 pounds, which were purchased at $2.00 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) 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.

a. Direct materials price variance	$fill in the blank 1	Unfavorable
b. Direct materials quantity variance	$fill in the blank 3	Favorable
c. Total direct materials cost variance	$fill in the blank 5	Unfavorable

3. Direct Labor Variances

Venneman Company produces a product that requires 4 standard hours per unit at a standard hourly rate of $12 per hour. If 14,000 units required 58,000 hours at an hourly rate of $11.85 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total direct labor cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

a. Direct labor rate variance	$fill in the blank 1	Favorable
b. Direct labor time variance	$fill in the blank 3	Unfavorable
c. Total direct labor cost variance	$fill in the blank 5	Unfavorable

4. Direct Labor Variances

Encinas Company produces a product that requires 3 standard hours per unit at a standard hourly rate of $21 per hour. If 2,300 units required 6,600 hours at an hourly rate of $20.50 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total direct labor cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

a. Direct labor rate variance	$fill in the blank 1	Favorable
b. Direct labor time variance	$fill in the blank 3	Favorable
c. Total direct labor cost variance	$fill in the blank 5	Favorable

5. Factory Overhead Controllable Variance

Venneman Company produced 14,000 units of product that required 4 standard hours per unit. The standard variable overhead cost per unit is $0.80 per hour. The actual variable factory overhead was $46,100. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. $__________ Unfavorable

6. Factory Overhead Controllable Variance

Encinas Company produced 2,300 units of product that required 3 standard hours per unit. The standard variable overhead cost per unit is $1.90 per hour. The actual variable factory overhead was $11,905. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. $__________ Favorable