Cheerios is a brand of cereal manufactured by General Mills in the United States, consisting of...

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Cheerios is a brand of cereal manufactured by General Mills in the United States, consisting of pulverized oats General Mills' management has established the 5 following standards: Standard Quantity or Hours Standard Price or 20 Direct materials Direct labor Variable overhead Rate 3.5 grams $ 100 per gram 07 hours $ 11.00 per hour 07 hours $ 2.00 per hour The company reported the following results concerning this product in July Actual output 3,000 units Raw materials used in production 11,370 grams Actual direct labor-hours 1,910 hours Purchases of raw materials 12.100 grams Actual price of raw materials purchased $ 1.20 per gram Actual direct labor rate $ 11.40 per hour Actual variable overhead rate $ 2.10 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 materials quantity variance for July is The materials quantity variance for July is Material Price Variance (AP-SP) AQP AP actual price per unit of material SP standard price per unit of material AQP actual quantity of material purchased Material Quantity Variance (AQU - SQ) SP AQU actual quantity of material used SQ standard quantity of material for the actual level of production SP standard price per unit of material Multiple Choice $870 F $1,044 U $870 U Cheerios is a brand of cereal manufactured by General Mills in the United States, consisting of pulverized oats General Mills' management has established the 5 following standards: Standard Quantity or Hours Standard Price or 20 Direct materials Direct labor Variable overhead Rate 3.5 grams $ 100 per gram 07 hours $ 11.00 per hour 07 hours $ 2.00 per hour The company reported the following results concerning this product in July Actual output 3,000 units Raw materials used in production 11,370 grams Actual direct labor-hours 1,910 hours Purchases of raw materials 12.100 grams Actual price of raw materials purchased $ 1.20 per gram Actual direct labor rate $ 11.40 per hour Actual variable overhead rate $ 2.10 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 materials quantity variance for July is The materials quantity variance for July is Material Price Variance (AP-SP) AQP AP actual price per unit of material SP standard price per unit of material AQP actual quantity of material purchased Material Quantity Variance (AQU - SQ) SP AQU actual quantity of material used SQ standard quantity of material for the actual level of production SP standard price per unit of material Multiple Choice $870 F $1,044 U $870 U