Which of the following equations can be used to compute a materials price variance (where AQ = actual quantity; SQ = standard quantity allowed; AP = actual price; SP = standard price)?

Q: Describe the difference between a direct materials efficiency variance and a variable manufacturing…

A: Variable Cost:The cost which fluctuates on the basis of the output level produced. The variable cost…

Q: The material price variance is computed by multiplying the difference between the actual price and…

A: GIVEN   Material Price Variance is the difference between the actual cost of Material purchased and…

Q: Direct Materials and Direct Labor Variance Analysis

A: a. Determine standard cost per unit Direct material standard cost per unit = Std. number of lbs of…

Q: need help finding the: - materials price variance & the materials quantity variance - labor rate…

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Q: Required: a. Determine the direct materials price variance, direct materials quantity variance, and…

A: Standard costing: Standard costing consists of the setting of the predetermined estimate of costs…

Q: What effect, if any, would you expect poor-quality materials to have on direct labor variances?

A: Direct labour variance mainly arises due to the differences in the actual and budgeted rates of wage…

Q: What is the interpretation of the direct-material quantity variance?

A: Direct material quantity variance is a variance analysis tool for manufacturing companies. It shows…

Q: Requirement 2. Calculate the direct materials cost variance and the direct materials efficiency…

A: The variance is the difference between the standard data and actual production data for the period.

Q: The materials price variance should be computed when materials are purchased. Group of answer…

A: Variance: The difference between the actual cost or price and the budgeted (standard) cost or price…

Q: Who is generally responsible for the materials price variance? The materials quantity variance? The…

A: Material Price Variance is the difference between the standard price and the actual price for the…

Q: The formula for the materials quantity variance is (SQ x AP) – (SQ × SP). O (AQ x SP) – (SQ × SP). O…

A: Introduction: Direct materials Quantity variance is used for the comparing actual and standard…

Q: The sum of the material mix and material yield variances equals   the total material variance. the…

A: Standard costing means where standard is set for various cost element and actual cost is then…

Q: e sum of materials yield variance and materials mix variance is? * Materials price variance…

A: Material yield variance is the difference of actual material used and standard quantity estimated to…

Q: Among the given options, determine labor yield variance.

A: Formula: Labor Yield Variance= (Standard Mix for actual output- Actual mix for actual…

Q: 1. Compute the price and efficiency variances of direct materials and direct manufacturing labor.

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Q: b. Determine the direct materials price variance, direct materials quantity variance, and total…

A: a) Calculation of Direct material standard cost per unit: Standard number of lb. of brass per faucet…

Q: equired: . Prepare the following variance analyses for both chocolates and the total, based on the…

A: The variance is the difference between actual cost of production and standard cost of production.

Q: Provide one caveat that will affect whether a production-volume variance is a good measure of the…

A: Economic cost of unused capacity:The economic cost of unused capacity indicates the amount that…

Q: Write in detail the possible causes of each of the following variance.   Direct materials price and…

A: Variances: A cost variance is a difference between the actual expenses incurred and the standard…

Q: Compute the price and efficiency variances of direct materials and direct manufacturing

A: Standard costing  - This is the method of costing where standard is determined and then its compared…

Q: There are three input materials A, B and C in a process. The overall material mix variance and the…

A: Given information,  3 input Materials = A, B, C Overall Material Mix Variance is Favourable Mix…

Q: hich of the following factor may not be included in the computation of the total materials variance?…

A: Formula Total Material variance = (Standard cost of material allowed for actual output) – (Actual…

Q: What makes a variance favorable? Give an example of a favorable variance involving materials. What…

A: Variance is the difference in the value of budgeted cost\quantity and the actual cost\quantity. When…

Q: MATERIALS MIX VARIANCE

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Q: Compute the direct materials price variance and the direct materials quantity variance. (Inc…

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Q: Q.When inputs are substitutable, how can the direct materials efficiency variance be decomposed…

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Q: standard cost

A: Standard cost systems are cost accounting systems in which standard is set for each item of cost and…

Q: If the materials price variance is favorable but the materials quantity variance is unfavorable,…

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Q: a. What is the material price usage, material quantity and total material variance D. What is the…

A: Material Quantity Variance-It is the difference between how much material used and expected to be…

Q: Explain an example how to calculate cost variance.

A: Cost variance is the difference of standard cost and actual cost in manufacturing of a product. Cost…

Q: Materials mix variance B. Materials yield variance

A: Material Mix Variance = SP( RSQ - AQ)  SP means Standard price  RSQ means Revised Standard quantity…

Q: Calculate the material quantity variance and the engineering change order (ECO) material variance.

A: Material quantity variance is a category of variance that compares actual quantity and standard…

Q: The materials price variance can be computed at what two different points in time? Which point is…

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Q: Would a production manager be equally responsible for anunfavorable materials price variance and an…

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Q: Based on the above information, the variable manufacturing overhead rate variance is?

A: Formula: Variable manfacturing overhead Rate Variance= Standard Rate- Actual Rate×Actual Hours of…

Q: Which of the following statements is true with respect to the materials price variance? Multiple…

A: Materials price variance = (Standard price - Actual price) x Actual Quantity purchased

Q: (1) Compute the direct materials price and quantity variances. (Indicate the effect of each variance…

A: Solution: Direct material quantity variance is also called as direct material usage or efficiency…

Q: List the variable overhead variances, and briefly describe each.

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Q: List the fixed overhead variances, and briefly describe each.

A: Variance:   Variance refers to the difference level in the actual cost incurred and standard cost.…

Q: Compute the direct labor rate and efficiency variances and identify each as favorable or…

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