Question: Standard quantity is used when calculating the direct materials quantity variance but is not used when calculating the direct materials price variance. options: True False

Standard quantity is used when calculating the direct materials quantity variance but is not used when calculating the direct materials price variance.

options:

	True
	False

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

The direct labour price (rate) and direct labour quantity(efficiency) variance are related such that when the direct labour price (rate) variance is unfavorable, the latter will also be unfavorable....

Standard quantity is used when calculating the direct materials quantity variance but is not used when calculating the direct materials price variance. True False

I just need help with the FOH cost variance and FOH volume variance. Thank you SmartSound manufactures headphone cases. During September 2018, the company produced and sold 107,000 cases and recorded...

SmartSound manufactures headphone cases. During September 2018, the company produced and sold 107,000 cases and recorded the following cost data EEB (Click the icon to view the cost data.) Read the...

During March, Fresher Company's direct material costs for product T were as follows: Information on Lawn Fertilizer Company's direct material costs follows: Standard price per gram of raw materials...

A Q = Actual Quantity SQ = Standard Quantity For Year 5 , compute the direct materials price variance and direct materials quantity variance. Indicate whether this cost variance is favorable,...

A manufactured product has the following information for June 6 lbs. $8 per 1b.) 43,600 lbs. $8.20 per lb SQ - Standard Quantity AP Actual Price Compute the direct materials price variance and the...

25*. Calhoun Company has a direct material standard of 3 gallons of input at a cost of $5 per gallon. During July, Calhoun Company purchased and used 7,500 gallons. The direct materials quantity...

Scarlett Company has a direct material standard of 2 gallons of input at a cost of $4 per gallon. During July, Scarlett Company purchased and used 6,000 gallons. The direct materials quantity...

Scarlett Company has a direct material standard of 3 gallons of input at a cost of $5 per gallon. During July, Scarlett Company purchased and used 7,500 gallons. The direct materials quantity...

Managers of the Brennan Company used regression analysis to obtain the following estimate of the demand function for its product: log Q = 2 - 1.2 log P + 1.5 log I where Q is quantity demanded, P is...

Experts believe that many essential study techniques popular with studentssuch as highlighting key words or phrases in a text with a markerare not as effective as many learners assume. For example,...

Purchases Joumal The following purchase transactions occurred during December for Rehoboth, Inc:i Dec. 4 Purchased cleaning supplies for $ 1 1 6 , on account from innovation Supplies. 1 9 Purchased...

Skills necessary for success in marketing include Multiple select question. analytical thinking advertising industry experience infallibility ability to work with others

Understand the role of employer branding in talent management.

Understand the essence of talent management and the role of HRM in talent management.

How would you best seek to reconcile Petrocom Finlands desire for a more locallydriven approach to the HRM practice of diversity management versus Petrocom Groups Global Organization vision,...