Question: The direct materials price variance is the difference between the 01. actual price and standard price for the materials multiplied by the standard quantity

The direct materials price variance is the difference between the 01. actual price and standard price for the materials multiplied by the standard quantity of material allowed 02. Actual price multiplied by the actual quantity and standard price multiplied by the standard quantity 03. Actual price multiplied by the standard quantity and standard price multiplied by the actual quantity O4. actual price and standard price for the materials multiplied by the actual quantity of material

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!

In your leadership abilities what are the top three qualitiesyou strive to embody and how do you go about doing this, yourdiscussion should focus more on project management. 1 answer

1) The journal entry to record depreciation on production equipment would include a: A. Debit to Accumulated Depreciation - Equipment B. Credit to Work-in-Process Inventory C. Debit to Manufacturing...

In order to properly track costs, Sweet Wave Bakery uses very stringent standard costs in evaluating efficiency. Management is working hard to make these costs precise, but they have not yet achieved...

In orderto properly track costs, Sweet Wave Bakery uses very stringent standard costs in evaluating efficiency. Management is working hard to make these costs precise, but they have not yet achieved...

Question 1 If an equipment replacement decision would not affect revenue, its benefits could still be measured by analyzing its Answer a. net cash flows. b. cost savings. c. net cash outflows. d....

please help me with the last two questions The following data are given for Stringer Company: 928 units Budgeted production 1,095 units Actual production Materials: $1.90 12 Standard price per ounce...

Materials usage variance is the difference between a . the actual and standard quantity of materials multiplied by the standard unit price of the materials. b . actual quantity of materials used and...

Carol's Dress Shop produces high quality formal dresses. In January 2019 they produced 17,000 dresses. For the month of January, the following standard and actual cost data are available. The normal...

The correct formula to compute Direct Materials Price Variance is :a) Direct Materials Price Variance = Actual Direct Materials Cost x Standard Cost b) Direct Materials Price Variance = (Actual...

Any time we conduct a survey, we must take care to avoid undercoverage. Suppose we plan to select 500 names from the city phone book, call their homes between noon and 4 P.M., and interview whoever...

Can you explain the general practices surrounding DATA COLLECTION relevant to business operations and the risk, issues, or problems associated with the ethical collecting and storing of customer...

Students whose undergraduate major was economics were followed for 10 years after graduation to study the number of different jobs they took. Explain whether each of the following terms applies to...

A network administrator needs to keep the user id , password and session contents private when establishing remote cli connectivity with the switch to manage it . Witch access method should be...

Consider the following swap pricing schedule for currency coupon swaps of yen and pounds. Currency Coupon Swap Pricing Schedule (/) Maturity Midrate (in ) 3 years 4.12% sa Deduct 5 bps if the bank is...

What is a currency coupon swap?

Consider a December Yen 84 call on the NASDAQ OMX. Current call price $0.000118/ Price of underlying asset $0.008345/ Exercise price $0.008400/ Risk-free rate (continuously compounded) in dollars 4%...