Concept explainers
Dog Bone Bakery, which bakes dog treats, makes a special biscuit for dogs. Each biscuit uses 0.75 cup of pure semolina flour. They buy 4,000 cups of flour at $0.55 per cup. They use 3,550 cups of flour to make
4,750 biscuits. The
A. What are the direct materials price variance, the direct materials quantity variances, and the total direct materials cost variance?
B. What is the standard cost per biscuit for the semolina flour?
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Principles of Accounting Volume 1
- eBook Dog Bone Bakery, which bakes dog treats, makes a special biscuit for dogs. Each biscuit uses 0.75 cup of pure semolina flour. They buy 4,000 cups of flour at $0.50 per cup. They use 3,512.5 cups of flour to make 4,700 biscuits. The standard cost per cup of flour is $0.49. A. What are the direct materials price variance, the direct materials quantity variances, and the total direct materials cost variance? Round your answers to two decimals. Enter all amounts as positive numbers. $ Unfavorable v Direct materials price variance 6.13 V Favorable v Direct materials quantity variance $ Total direct materials cost variance 2$ Unfavorable v B. What is the standard cost per biscuit for the sermolina flour? Round your answer to four decimals. $ Feedback Previous Next Check My Workarrow_forwardDog Bone Bakery, which bakes dog treats, makes a special biscuit for dogs. Each biscuit uses 0.70 cup of pure semolina flour. They buy 4,000 cups of flour at $0.55 per cup. They use 3,347.5 cups of flour to make 4,800 biscuits. The standard cost per cup of flour is $0.53. A. What are the direct materials price variance, the direct materials quantity variances, and the total direct materials cost variance? Round your answers to two decimals. Enter all amounts as positive numbers. Direct materials price variance $ fill in the blank 1 Direct materials quantity variance $ fill in the blank 3 Total direct materials cost variance $ fill in the blank 5 B. What is the standard cost per biscuit for the semolina flour? Round your answer to four decimals. $ fill in the blank 7arrow_forwardEd 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?arrow_forward
- The Whizbang Company makes a special type of toy. Each top takes 6 ounces of a special material that costs $3 per ounce. Whizbang bought 4,000 ounces of the material at a cost of $11,300. They used 3,400 ounces to make 534 toys. Compute the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance.arrow_forwardCan you show me how this is done? How do I know if it is favorable or unfavorable? Warren Company manufactures pans. Below is the information related to its direct material costs: Standard amount of material used per pan 1.9 lb. Standard cost per lb $5.2 Actual amount of material used per pan 1.2 lb Actual cost per lb $4.5 Actual number of pans produced and sold 2,360 Warren’s direct material spending variance is $__________ Indicate the amount and whether it is Favorable or Unfavorable by placing F or U by amount, do not skip a space and do not use $ in your answer. For example, if your answer is $1,000 favorable, answer 1000F Selected Answer: 4,335 Correct Answer: 10,573 ± 2 (F)arrow_forwardBandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,700 helmets, using 2.812 kilograms of plastic. The plastic cost the company $18,559. According to the standard cost card, each helmet should require 0.66 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3.700 helmets? 2. What is the standard materials cost allowed (SQ SP) to make 3,700 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard quantity of kilograms allowed…arrow_forward
- Bandar Industries manufactures sporting equipment. One of the company’s products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,300 helmets, using 1,947 kilograms of plastic. The plastic cost the company $14,797. According to the standard cost card, each helmet should require 0.53 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,300 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 3,300 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.)arrow_forwardBandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,400 helmets, using 2,584 kilograms of plastic. The plastic cost the company $17,054. According to the standard cost card, each helmet should require 0.69 kilogram of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,400 helmets? 2. What is the standard materials cost allowed (SQx SP) to make 3,400 helmets? 3. What is the materials spending variance? 4. What are the materials price variance and the materials quantity variance? Note: For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. 1. Standard quantity of kilograms…arrow_forwardBandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,100 helmets, using 2,170 kilograms of plastic. The plasti cost the company $14,322. According to the standard cost card, each helmet should require 0.65 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,100 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3.100 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard quantity of kilograms allowed…arrow_forward
- Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,300 helmets, using 2,178 kilograms of plastic. The plastic cost the company $16,553. According to the standard cost card, each helmet should require 0.57 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,300 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3,300 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard quantity of kilograms…arrow_forwardHel Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,300 helmets, using 2,475 kilograms of plastic. The plastic cost the company $18,810. According to the standard cost card, each helmet should require 0.68 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,300 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 3,300 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard quantity of kilograms…arrow_forwardBandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,200 helmets, using 2,048 kilograms of plastic. The plastic cost the company $13,517. According to the standard cost card, each helmet should require 0.58 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,200 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3,200 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? Note: For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. 1. Standard quantity of kilograms…arrow_forward
- Principles of Accounting Volume 2AccountingISBN:9781947172609Author:OpenStaxPublisher:OpenStax College