Question

In: Accounting

The following data relate to direct materials costs for February: Materials cost per yard: standard, $1.97;...

  1. The following data relate to direct materials costs for February:

    Materials cost per yard: standard, $1.97; actual, $2.05
    Yards per unit: standard, 4.64 yards; actual, 5.01 yards
    Units of production: 9,500

    The direct materials quantity variance is

    a.$7,205.75 favorable

    b.$7,205.75 unfavorable

    c.$6,924.55 favorable

    d.$6,924.55 unfavorable

Solutions

Expert Solution

Correct Answer:

Option :D : $ 6,924 Unfavorable

Working:

Actual DATA for

9500

Units

Quantity (AQ)

Rate (AR)

Actual Cost

Direct Material (9500 units * 5.01)

47595

$            2.05

$            97,570

Standard DATA for

9500

Units

Quantity (SQ)

Rate (SR)

Standard Cost

Direct Material

(9500 * 4.64)

44080

$            1.97

$            86,838

Material Quantity Variance

(

Standard Quantity

-

Actual Quantity

)

x

Standard Rate

(

44080

-

47595

)

x

$       1.97

-6924.55

Variance

$             6,924.55

Unfavourable-U

End of Answer.

Thanks

ekkarill92 answered 1 year ago
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