{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Cost 9 - $17,100 Correct Answer $17,100 Response Feedback...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Arrow Industries employs a standard cost system in which direct materials inventory is carried at standard cost. Arrow has established the following standards for the prime costs of one unit of product. Standard Standard Standard Quantity Price Cost Direct Materials 8 pounds $1.80 per pound $14.40 Direct Labor .25 hour $8.00 per hour $2.00 $16.40 During November, Arrow purchased 160,000 pounds of direct materials at a total cost of $304,000. The total factory wages for November were $42,000, 90% of which were for direct labor. Arrow manufactured 19,000 units of product during November using 142,500 pounds of direct materials and 5,000 direct labor hours. What is the direct materials price variance for November? Answer Selected Answer: $14,250 Correct Answer: $16,000 Response Feedback: [(304,000/160,000) - $1.80] 160,000 = $16,000 unfavorable Question 2 0 out of 0 points What is the direct materials efficiency (quantity) variance for November? Answer Selected Answer:
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: $17,100 Correct Answer: $17,100 Response Feedback: Question 3 0 out of 0 points Is the direct materials efficiency (quantity) variance favorable or unfavorable? Answer Selected Answer: favorable Correct Answer: favorable Response Feedback: Question 4 0 out of 0 points What is the direct labor price (rate) variance for November? Answer Selected Answer: $2,200 Correct Answer: $2,200 Response Feedback: Question 5 0 out of 0 points Is the direct labor price (rate) variance favorable or unfavorable? Answer Selected Answer: favorable Correct Answer: favorable Response Feedback: Question 6 0 out of 0 points What is the direct labor efficiency variance for November? Answer Selected Answer: $2,000 Correct Answer: $2,000 Response Feedback: Question 7 0 out of 0 points Is the direct labor efficiency variance favorable or unfavorable? Answer Selected Answer: favorable Correct Answer: unfavorable Response Feedback:...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern