Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Durable Vinyl Company manufactures tables with vinyl tops. For each table, 6 square feet of vinyl at a standard cost of P1.30 per square foot

Durable Vinyl Company manufactures tables with vinyl tops. For each table, 6 square feet of vinyl at a standard cost of P1.30 per square foot are required. A production run of 1,000 tables in January, resulted in usage of 6,400 square feet of vinyl at atotal cost of P7,680. 

1. The total materials cost variance is:

2. The materials usage (quantity) variance is :

3. The materials price (on usage) variance is:

4. Everlasting Container Company uses 5 pieces of "72 X 36" metal at P12 per piece as standard for the production of non-trust vats. During one month's operation, 4,800 vats were produced at a cost of P11.50 per pieces of materials. What is the total materials cost variance?

Questions 5& 6 are based on the following information:

Component DC-10 is manufactured in batches of 100 cylinders by Cilindro Manufacturing Company, the standard material input being 250 gallons (per batch) of material X at P1.20 per gallon. During November, 30 batches of DC-10 were produced from an input of 7,450 gallons of material X which cost P9,089.

5. The materials quantity variance is?

6. The materials price variance is?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Here are the solutions to your questions The total materials cost variance is calculated as the the difference between the actual total cost and the standard total costTotalMaterialsCostVarianceActual... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting for Decision Making and Control

Authors: Jerold Zimmerman

8th edition

78025745, 978-0078025747

More Books

Students also viewed these Accounting questions

Question

Outline Watson and Rayners classic work on fear conditioning.

Answered: 1 week ago