51) Myles Company budgeted 10,500 pounds of direct materials costing $23.50 per pound to make 5,300 units of product. The company actually purchased 11,000 pounds of direct materials costing $25.00 per pound to make the 5,300 units. What is the direct materials price variance?

A) $16,500 favorable

B) $16,500 unfavorable

C) $15,750 unfavorable

D) $15,750 favorable

52) Myles Company budgeted 10,500 pounds of direct materials costing $23.50 per pound to make 5,300 units of product. The company actually purchased 11,000 pounds of direct materials costing $25.00 per pound to make the 5,300 units. What is the direct materials quantity variance?

A) $12,500 favorable

B) $11,750 favorable

C) $11,750 unfavorable

D) $12,500 unfavorable

53) The Armstrong Corporation developed a flexible budget for its production process. Armstrong budgeted to use 16,000 pounds of direct material with a standard cost of $18 per pound to produce 12,000 units of finished product. Armstrong actually purchased 18,000 pounds and used 17,000 pounds of direct material with a cost of $21 per pound to produce 12,000 units of finished product.

Given these results, what is Armstrong's direct material price variance?

A) $48,000 favorable

B) $48,000 unfavorable

C) $54,000 unfavorable

D) $54,000 favorable

54) The Armstrong Corporation developed a flexible budget for its production process. Armstrong budgeted to use 16,000 pounds of direct material with a standard cost of $18 per pound to produce 12,000 units of finished product. Armstrong actually purchased 18,000 pounds and used 17,000 pounds of direct material with a cost of $21 per pound to produce 12,000 units of finished product.

Given these results, what is Armstrong's direct material quantity variance?

A) $36,000 favorable

B) $18,000 favorable

C) $36,000 unfavorable

D) $18,000 unfavorable

55) Active Lifestyle Beverages gathered the following information for Job #928:

Standard Total CostActual Total Cost

Direct materials:

Standard: 2,200 pints at $4.75/pint$10,450

Actual: 2,450 pints at $5.00/pint$12,250

What is the direct materials price variance?

A) $612.50 favorable

B) $612.50 unfavorable

C) $550.00 favorable

D) $550.00 unfavorable

56) Active Lifestyle Beverages gathered the following information for Job #928:

Standard Total CostActual Total Cost

Direct materials:

Standard: 2,200 pints at $4.75/pint$10,450

Actual: 2,450 pints at $5.00/pint$12,250

What is the direct materials quantity variance?

A) $1,250.00 favorable

B) $1,250.00 unfavorable

C) $1,187.50 unfavorable

D) $1,187.50 favorable

57) Razzle Baking Company gathered the following actual results for the current month:

Actual amounts:

Units produced5,500

Direct materials purchased and used (7,500 lbs.)$25,000

Budgeted production and standard costs were:

Budgeted production5,000 units

Direct materials1.5 lbs./unit at $3/lb.

What is the direct materials price variance?

A) $2,500 unfavorable

B) $2,500 favorable

C) $2,750 favorable

D) $2,750 unfavorable

58) Razzle Baking Company gathered the following actual results for the current month:

Actual amounts:

Units produced5,500

Direct materials purchased and used (7,500 lbs.)$25,000

Budgeted production and standard costs were:

Budgeted production5,000 units

Direct materials1.5 lbs./unit at $3/lb.

What is the direct materials quantity variance?

A) $2,500 unfavorable

B) $2,250 unfavorable

C) $2,500 favorable

D) $2,250 favorable

59) Dozen Bakery makes cupcakes and cookies. Dozen gathered the following information for the current year regarding its use of flour and butter (flour is a direct material for cupcakes and butter is a direct material for cookies):

Flour (Direct Materials)

CupcakesButter (Direct Materials)

Cookies

Standard quantity per batch2 lbs.3 lbs.

Standard Price (SP) per pound of sugar$2.50/lb?

Actual quantity purchased (AQP)and used per batch (pounds)?4 lbs.

Actual Price (AP) paid $3.00/lb.$5.50/lb.

Price variance$300 U$1,200 U

Quantity variance$500 F?

Flexible budget variance?$3,100 U

Number of units produced350400

The actual direct material quantity used per batch for Cupcakes may be closest to

A) 2.9 lb.

B) 1.7 lbs.

C) 2.0 lbs.

D) 0.4 lbs.

60) Dozen Bakery makes cupcakes and cookies. Dozen gathered the following information for the current year regarding its use of flour and butter (flour is a direct material for cupcakes and butter is a direct material for cookies):

Flour (Direct Materials)

CupcakesButter (Direct Materials)

Cookies

Standard quantity per batch2 lbs.3 lbs.

Standard Price (SP) per pound of sugar$2.50/lb?

Actual quantity purchased (AQP)and used per batch (pounds)?4 lbs.

Actual Price (AP) paid $3.00/lb.$5.50/lb.

Price variance$300 U$1,200 U

Quantity variance$500 F?

Flexible budget variance?$3,100 U

Number of units produced350400

What is the direct materials flexible budget variance for the flour in cupcakes?

A) $200 favorable

B) $800 unfavorable

C) $800 favorable

D) $200 unfavorable