19. The management of Abel Company set a standard on material XOX at a P25 per...

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19. The management of Abel Company set a standard on material "XOX" at a P25 per unit. Actual cost of this fluctuated during the period. Of the 10,000 units purcahsed, 50% had a cost of P24.70 per unit, 20% were prucahsed at a price of P24.90 per unit and the remainder has a cost of P25.60 per unit. What is the materials purchase price variance: 20. Katsi Manufacturing Corporation uses 3 types of materials designated as K-08, L-09, and M-010 in producing product C. The standard costs per unit of the materials are: K-008 L-009 M-010 P3 4.50 7 The actual cost of units purchased during May are as follows: Materials K-008 L-009 M-010 Quantity 3,000 7,500 4,500 Total Cost 10,500 33,750 30,600 What is the materials purchase price variance: Questions 21-23 are based on the following information: Like Manufacturing Company has established a standard cost as follows: Material A Material B P3 per unit 7 per unit In December, the company purcahsed 10,000 units of material A and 5,000 units of material B. With the exception of 800 unit cost of P3.50. The company purcahsed 4,500 units of material B at a standard cost and 500 units at a unit cost of P8. According to standards, two units of material A and one unit of material B should be used to manufacture each unit of product. In January, 4,000 units of product were manufactured and 8,600 units of material A were used and 4,100 units of material B were used. 21. What is the total materials price variance on the ourchases for December: 22. What is the total materials price variance on the usage during January: 23. What is the materials usage variance for January: Questions 24 to 26 are based on the following information: WIP, Beg Started in August 300 units, 35% complete as to materials 1,630 units Finished and Transferred WIP, end 1,830 units ? units, 20% complete as to materials 3 units of materials at a standard price of P4 per unit, are required for each unit of product. The actual cost of materials for the month was P25,000 at an actual price of P5 per unit of materials 24. What is the material price variance for the month: 25. If the company is using FIFO method, what is the material quantity variance: 26. If the company is using the weighted average method, what is the materials quantity variance: Questions 36 to 39 are based on the following information: The standard mix of Product Y is as follows: Material A 60 lbs @ P2.50 = P150 B 40 lbs @ P2.75 = 110 100 lbs 260 Normal loss 20 lbs 80 lbs During the month, 2,000 lbs were produced using the following: Material A 1,510 lbs @ P2.40 = P3,624 B 940 lbs @ 2.80 = 2,632 36. The total material cost variance is: 37. The material price variance is : 38. The materials mix variance is : 39. The materials yiend variance is: 19. The management of Abel Company set a standard on material "XOX" at a P25 per unit. Actual cost of this fluctuated during the period. Of the 10,000 units purcahsed, 50% had a cost of P24.70 per unit, 20% were prucahsed at a price of P24.90 per unit and the remainder has a cost of P25.60 per unit. What is the materials purchase price variance: 20. Katsi Manufacturing Corporation uses 3 types of materials designated as K-08, L-09, and M-010 in producing product C. The standard costs per unit of the materials are: K-008 L-009 M-010 P3 4.50 7 The actual cost of units purchased during May are as follows: Materials K-008 L-009 M-010 Quantity 3,000 7,500 4,500 Total Cost 10,500 33,750 30,600 What is the materials purchase price variance: Questions 21-23 are based on the following information: Like Manufacturing Company has established a standard cost as follows: Material A Material B P3 per unit 7 per unit In December, the company purcahsed 10,000 units of material A and 5,000 units of material B. With the exception of 800 unit cost of P3.50. The company purcahsed 4,500 units of material B at a standard cost and 500 units at a unit cost of P8. According to standards, two units of material A and one unit of material B should be used to manufacture each unit of product. In January, 4,000 units of product were manufactured and 8,600 units of material A were used and 4,100 units of material B were used. 21. What is the total materials price variance on the ourchases for December: 22. What is the total materials price variance on the usage during January: 23. What is the materials usage variance for January: Questions 24 to 26 are based on the following information: WIP, Beg Started in August 300 units, 35% complete as to materials 1,630 units Finished and Transferred WIP, end 1,830 units ? units, 20% complete as to materials 3 units of materials at a standard price of P4 per unit, are required for each unit of product. The actual cost of materials for the month was P25,000 at an actual price of P5 per unit of materials 24. What is the material price variance for the month: 25. If the company is using FIFO method, what is the material quantity variance: 26. If the company is using the weighted average method, what is the materials quantity variance: Questions 36 to 39 are based on the following information: The standard mix of Product Y is as follows: Material A 60 lbs @ P2.50 = P150 B 40 lbs @ P2.75 = 110 100 lbs 260 Normal loss 20 lbs 80 lbs During the month, 2,000 lbs were produced using the following: Material A 1,510 lbs @ P2.40 = P3,624 B 940 lbs @ 2.80 = 2,632 36. The total material cost variance is: 37. The material price variance is : 38. The materials mix variance is : 39. The materials yiend variance is: