Materials8,800Assuming that there was both a price variance and a quantity varianceassociated with these materials, this entry indicates that the method used formaterials price variances is to: A.allocate variances to ending inventories and cost of salesB.record variances at the time materials are receivedC.record variances at the time of disposition of work in processD.allocate variances to cost of sales onlyE.record variances at the time materials are usedCIA adapted 16.The most appropriatetime from a control standpoint to record any variance ofactual materials prices from standard is: 24.When the amount for materials inventory in the general ledger represents theactual cost of materials and the materials ledger cards show quantities anddollar values, the materials price variance is: 3.Variances resulting from materials price changes that are to be passed on to customers are: CIA adapted Materials Quantity Variance *. Suppose a standard cost system is being used. What do you call the variations in the use of materials which can be calculated by comparing the record of materials withdrawn with the standard consumption? (E) a. Volume variance c. Efficiency variance b . Quantity variance d. Price variance RPCPA 1077 130.From the perspective of control, the direct materials efficiency varianceshould be isolated at the time of (E) a.purchase.c.completion of the entire product.b.use.d.sale of the product. Horngren139.More insight into the efficiency variance for direct materials can be gained bysubdividing it into the direct materials (E)a.mix and volume variances.
b.market-share and market-size variances.c.mix and yield variances.d.price and efficiency variances. Horngren
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