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2. 3. please answer questions completely using multiple choice Gipple Corporation makes a product that uses a material with the quantity standard of 74 grams
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Gipple Corporation makes a product that uses a material with the quantity standard of 74 grams per unit of output and the price standard of $6.10 per gram. In January the company produced 3,500 units using 24,970 grams of the direct material. During the month the company purchased 27,500 grams of the direct material at $6.30 per gram. The direct materials purchases variance is computed when the materials are purchased The materials price variance for January is: Multiple Choice Multiple Choice $5,180 F $5.500 U $5,180 U $5.500 F Miguez Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 3.5 liters 0.7 hours 0.7 hours Standard Price or Rate $ 8.20 per liter $34.00 per hour $ 3.20 per hour Standard Cost Per Unit $28.70 $23.80 $ 2.24 The company budgeted for production of 3,800 units in September, but actual production was 3,700 units. The company used 6,640 liters o direct material and 1,800 direct labor-hours to produce this output. The company purchased 7,000 liters of the direct material at $8.40 per liter. The actual direct labor rate was $36.10 per hour and the actual variable overhead rate was $2.90 per hour. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for September is: Multiple Choice ( O $777 F $540 U O () $540 F $777 U O Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours 5.5 ounces 0.6 hours 0.6 hours Standard Cost Per Unit $22.00 $ 6.60 $ 4.80 Standard Price or Rate $ 4.00 per ounce $ 11.00 per hour $ 8.00 per hour Direct materials Direct labor Variable overhead The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost 4,100 units 4,100 units 23,500 ounces 20,400 ounces 4,800 hours 42,600 14, 100 A LA Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 4,100 units 4,100 units 23,500 ounces 20,400 ounces 4,800 hours 42,600 14,100 4,050 $ $ $ The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased The materials quantity variance for June is. Multiple Choice Multiple Choice $3,800 F $1,984 U $3,800 U $1.984 FStep by Step Solution
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