Calculator Direct Materials Variances Bellingham Company produces a product that requires 11 standard pounds per unit. The standard price is $11.5 per pound. If 4,600 units required 52,600 pounds, which were purchased at $10.92 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 b. Direct materials quantity variance C. Total direct materials cost variance Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: Standard Cost Cost Category per 100 Two-Liter Bottles Direct labor $1.56 4.94 Direct materials Factory overhead 0.34 Total $6.84 At the beginning of July, GBC management planned to produo 680,000 bottles. The actual number of bottles produced for July was 734,400 bottles. The actual costs for July of the current year were as follows: Actual Cost for the Cost Category Month Ended July 31 Direct labor $11,228 Direct materials 35,409 Factory overhead 2,522 Total $49,159 Enter all amounts as positive numbers. 3. Prepare the July manufacturing standard cost budget direct labor, direct materials, and factory overhead) for Woc, assuming planned production Previous Next > Check My Work more Check My Work uses remaining Enter all amounts as positive numbers. a. Prepare the July manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for Woc, assuming planned production Genie in a Bottle Company Manufacturing Cost Budget For the Month Ended March 31 Standard Cost at Planned Volume (680,000 Bottles) Manufacturing costs: Direct labor Direct materials Factory overhead Total b. Prepare a budget performance report for manufacturing costs, showing the total cost variances for direct materials, direct labor, and factory overhead for July. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your answers to two decimal places. Genie in a Bottle Company Manufacturing Costs-Budget Performance Report For the Month Ended March 31 Standard Cost Cost Varian Total b. Prepare a budget performance report for manufacturing costs, showing the total cost variances for direct materials, direct labor, and factory overhead for July. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your answers to two decimal places. Genie in a Bottle Company Manufacturing Costs-Budget Performance Report For the Month Ended March 31 Standard Cost Cost at Actual Variance Actual Volume (734,400 (Favorable) Costs Bottles) Unfavorable Manufacturing costs: Direct labor Direct materials Factory overhead Total manufacturing cost than budgeted direct labor and direct material cost variances more than offset a small c. The Company's actual costs were $1073.96 factory overhead cost variance
