White planned to use $82 of material per unit but actually used $80 of material per unit, and planned to make 1,200 units but actually made 1,000 units. The sales-volume variance is?
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
JJ White planned to use $82 of material per unit but actually used $80 of material per unit, and planned to make 1,200 units but actually made 1,000 units. The sales-volume variance is?
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- White planned to use $82 of material per unit but actually used $80 of material per unit and planned to make 1200 units but actually made 1000 units. The sales-volume variance is: a. $2000 favorable b. $14000 unfavorable c. $16400 unfavorable d. $2400 favorableCalculate expected gross margin if Jan produces 50,000, 65,000, or 70,000 books. (Make sure you include the production-volume variance as part of cost of goods sold.)Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but require different amounts. Standard materials for both are shown. At the beginning of the month, Edve Co. bought 25,000 feet of rubber for $6.875. The company made 3,000 large O rings and 4,000 small O rings. The company used 14,500 feet of rubber. A. What are the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance? B. If they bought 10,000 connectors costing $310, what would the direct materials price variance be for the connectors? C. If there was an unfavorable direct materials price variance of $125, how much did they pay per toot for the rubber?
- Alvarado Company produces a product that requires 15 standard pounds per unit. The standard price is $9.00 per pound. If 2,400 units used 34,600 pounds, which were purchased at $9.18 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Line Item Description Amount Variance a. Direct materials price variance $fill in the blank 1 b. Direct materials quantity variance $fill in the blank 3 c. Direct materials cost variance $fill in the blank 59. Ryker Company produces a product that requires 2 standard gallons per unit. The standard price is $20.00 per gallon. If 4,000 units required 8,200 gallons, which were purchased at $19.75 per gallon, what is the direct materials (a) price variance, (b) quantity variance, and (c) total cost variance?Bellingham Company produces a product that requires five standard pounds per unit. The standard price is $3 per pound. If 5,900 units used 30,700 pounds, which were purchased at $2.91 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance $ b. Direct materials quantity variance $ c. Direct materials cost variance $
- The actual margin per unit and margin per unit estimated in the plan are $6 and $8, respectively. The actual volume and the volume estimated in the plan are 5,000 units and 10,000 units, respectively. What is the margin variance of the business? O-$10,000 $5,000 -$20,000 $10,000 O$20,000Planned sales are 10,000 units at $7.00 per unit. Actual sales are 11,000 units at $6.50 per unit. Which of the following statements is not true? a. The revenue volume variance is favorable. b. The total revenue variance is unfavorable. c. The revenue volume variance is $7,000. d. The revenue price variance is unfavorable.Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.45 per pound. 16,100 units used 36,900 pounds, which were purchased at $3.60 per pound. What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
- Bellingham Company produces a product that requires seven standard pounds per unit. The standard price is $5 per pound. If 6,300 units used 42,300 pounds, which were purchased at $5.2 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.A firm produces a product that requires seven standard pounds per unit. The standard price is $5 per pound. If 6,300 units used 42,300 pounds, which were purchased at $5.2 per pound. Find direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.Venneman Company produces a product that requires 5 standard pounds per unit. The standard price is $11.00 per pound. If 2,900 units required 14,900 pounds, which were purchased at $10.45 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance $fill in the blank 1 b. Direct materials quantity variance $fill in the blank 3 c. Total direct materials cost variance $fill in the blank 5