Academic Integrity: tutoring, explanations, and feedback — we don’t complete graded work or submit on a student’s behalf.

6. If the materials price variance is $3,600 F and the materials quantity and la

ID: 2456923 • Letter: 6

Question

6. If the materials price variance is $3,600 F and the materials quantity and labor variances are each $2,800 U, what is the total materials variance? (Answer: $800 favorable)

7. Carley Company has a materials price standard of $2.10 per pound. Six thousand pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 6,000 pounds, although the standard quantity allowed for the output was 5,400 pounds. Carley Company's materials price variance is: (Answer: $600 unfavorable)

8. Carley Company has a materials price standard of $2.10 per pound. Six thousand pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 6,000 pounds, although the standard quantity allowed for the output was 5,400 pounds. Carley Company's materials quantity variance is: (Answer: $1,260 unfavorable)

Explanation / Answer

Material price variance = 3600 F, material quantity variance = 2800 U

Total material variance = 3600 - 2800

= 800 F

7)

(Standar price - actual price) * actual quantity

= (2.1 - 2.2) * 6000

= -0.1 * 6000

= 600 U

8)

(standard quantity - actual quantity) * standard price

= (5400 - 6000) * 2.1

= -600 * 2.1

= $1260 U

Hire Me For All Your Tutoring Needs
Integrity-first tutoring: clear explanations, guidance, and feedback.
Drop an Email at
drjack9650@gmail.com
Chat Now And Get Quote