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Myers Corporation has the following data related to direct materials costs for November: actua costs for 4,680 pounds of material at $5.00 and standard costs
Myers Corporation has the following data related to direct materials costs for November: actua costs for 4,680 pounds of material at $5.00 and standard costs for 4,490 pounds of material at $6.10 per pound. The direct materials quantity variance is Oa. $5,148 unfavorable Ob. $5,148 favorable Oc. $1,159 favorable Od. S1,159 unfavorable The standard costs and actual costs for direct materials for the manufacture of 2,100 actual units of product are as follows: Standard Costs 1,040 kilograms at $8.72 Direct materials Actual Costs Direct materials 2,100 kilograms at $8.30 The direct materials price variance is Oa. $437 unfavorable Ob. $882 favorable Oc. $882 unfavorable Od. $437 favorable The following data are given for Stringer Company: 973 units 1,012 units Budgeted production Actual production Materials: Standard price per ounce Standard ounces per completed unit Actual ounces purchased and used in production Actual price paid for materials $1.76 10 10,424 $21,369 Labor: $14.93 per hour 4.5 Standard hourly labor rate Standard hours allowed per completed unit Actual labor hours worked Actual total labor costs Overhead: 5,211.8 $79,480 Actual and budgeted fixed overhead $1,115,000 $24.00 per standard labor hour Standard variable overhead rate Actual variable overhead costs $145,930 Overhead is applied on standard labor hours. Do not round interim calculations. Round your final answer to the nearest dollar. The direct materials price variance is Oa. $7,557 unfavorable Ob. $7,557 favorable Oc. $3,023 favorable Od. $3,023 unfavorable The following data are given for Stringer Company: 957 units Budgeted production Actual production 1,082 units Materials: $1.96 Standard price per ounce 12 13,374 Standard ounces per completed unit Actual ounces purchased and used in production Actual price paid for materials $27,417 Labor: $14.57 per hour 4.2 Standard hourly labor rate Standard hours allowed per completed unit Actual labor hours worked Actual total labor costs 5,572.3 $84,978 Overhead: $1,099,000 $25.00 per standard labor hour Actual and budgeted fixed overhead Standard variable overhead rate Actual variable overhead costs $156,024 Overhead is applied on standard labor hours. The direct materials quantity variance is Oa. 1,203.96 favorable b. 1.203.96 unfavorable c. 764.40 unfavorable d. 764.40 favorable
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