Question: Please answer all questions 8) The general model for calculating a quantity variance is: A) (Actual quantity of inputs used x Actual price)- (Standard quantity
8) The general model for calculating a quantity variance is: A) (Actual quantity of inputs used x Actual price)- (Standard quantity allowed for output x Standard price). B) Actual price x(Actual quantity of inputs used-Standard quantity allowed for output). C) Standard price x(Actual quantity of inputs used-Standard quantity allowed for output) D) Actual quantity of inputs used x(Actual price-Standard price). 9) Suver Corporation has a standard costing system. The following data are available for Ju 9) Actual quantity of direct materials purchased Standard price of direct materials Material price variance Material quantity variance 35,000 pounds $ 6.00 per pound 3500 Unfavorable $ 2500 Favorable The actual price per pound of direct materials purchased in June was: (Round your intermediate calculations to 2 decimal places.) A) S6.14 per pound C) S6.10 per pound B) $5.86 per pound D) S6.00 per pound 10) The Fime Corporation uses a standard costing system. The following data have been assi 10) for December: Actual direct labor-hours worked Standard direct labor rate Labor efficiency variance 6300 hours S 10 per hour S 2000 Unfavorable The standard hours allowed for December's production is: A) 5900 hours B) 6300 hours C) 6100 hours D) 6500 hours
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
