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Please help answering both questions Sitka Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these
Please help answering both questions
Sitka Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for one ladder (unit): Standard Standard Standard Quantity Price Cost Direct materials 3 pounds $4.50 per pound $13.50 Direct labor 2.00 hours 12.00 per hour 24.00 Total cost $37.50 Sitka Industries made 3,000 ladders in July and used 8,800 pounds of material to make these units. Sitka Industries bought 15,600 pounds of material in the current period. There was a $250 unfavorable direct materials price variance. Enter all amounts as positive numbers. A. How much in total did Sitka pay for the 15,600 pounds? Amount paid $ 70,450 B. What is the direct materials quantity variance? Direct materials quantity variance $ 900 Favorable C. What is the total direct materials cost variance? Total direct materials cost variance $ Favorable D. What if 9,400 pounds were used to make these ladders, what would be the direct materials quantity variance? Nirert materials quantity variance 1 Infavorable Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but require different amounts. Standard materials for both are shown. Large Small Rubber 3 feet at $0.25 per foot 1.25 feet at $0.25 per foot 1 at $0.03 1 at $0.03 Connector At the beginning of the month, Ed Co. bought 24,000 feet of rubber for $6,960. The company made 3,000 large O rings and 4,000 small O rings. The company used 14,600 feet of rubber. A. What are the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance? Enter all amounts as positive numbers. If required round your answers to two decimal places. Direct materials price variance 584 Unfavorable Direct materials quantity variance $ 150 Unfavorable Total direct materials cost variance $ Unfavorable B. If they bought 9,000 connectors costing $280, what would the direct materials price variance be for the connectors? Round your intermediate calculations to three decimal places. Direct materials price variance $ Unfavorable C. If there was an unfavorable direct materials price variance of $150, how much did they pay per foot for the rubber? Round your answer to two decimal places. Actual price $ 0.26Step by Step Solution
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