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I just need help to understand if it's favorable or unfavorable, thank you! Myers Corporation has the following data related to direct materials costs for
I just need help to understand if it's favorable or unfavorable, thank you!
Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,630 pounds of material at $5.10 and standard costs for 4,470 pounds of material at $6.30 per pound. The direct materials quantity variance is a. $5,556 favorable b. $1,008 unfavorable c. $1,008 favorable d. $5,556 unfavorable Myers Corporation has the following data related to direct materials costs for November: actual cost for 4,690 pounds of material at $5.40 and standard cost for 4,420 pounds of material at $6.00 per pound. The direct materials price variance is O a. $1,620 favorable b. $2,814 favorable c. $1,620 unfavorable d. $2,814 unfavorable The standard factory overhead rate is $10 per direct labor hour ($8 for variable factory overhead and $2 for fixed factory overhead) based on 100% of normal capacity of 30,000 direct labor hours. The standard cost and the actual cost of factory overhead for the production of 5,000 units during May were as follows: Standard: 25,000 hours at $10 $250,000 Actual: $202,500 Variable factory overhead Fixed factory overhead 60,000 The fixed factory overhead volume variance is a. $10,000 favorable Ob. $12,500 favorable c. $10,000 unfavorable d. $12,500 unfavorable Flapjack Corporation had 7,680 actual direct labor hours at an actual rate of $12.40 per hour. Original production had been budgeted for 1,100 units, but only 954 units were actually produced. Labor standards were 7.7 hours per completed unit at a standard rate of $13.18 per hour. The direct labor rate variance is a. $5,990.40 unfavorable b. $5,990.40 favorable c. $4,706.53 unfavorable d. $4,706.53 favorableStep by Step Solution
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