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. Large Small Rubber 3 feet at $0.25 per foot 1.25 feet at $0.25 per foot Connector 1 at $0.02 1 at $0.02 At the beginning of the month, Ed Co. bought 24,000 feet of rubber for $6,720. 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? Enter all amounts as positive numbers. If required round your answers to two decimal places. Direct materials price variance Direct materials uantity variance $ Total direct materials cost variance B. If they bought 10,000 connectors costing $210, what would the direct materials price variance be for the connectors? Round your intermediate calculations to three decimal places. Direct materials price variance $ C. If there was an unfavorable direct materials price variance of $125, how much did they pay per foot for the rubber? Round your answer to two decimal places. Actual price $
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. Large Small Rubber 3 feet at $0.25 per foot 1.25 feet at $0.25 per foot Connector 1 at $0.02 1 at $0.02 At the beginning of the month, Ed Co. bought 24,000 feet of rubber for $6,720. 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? Enter all amounts as positive numbers. If required round your answers to two decimal places. Direct materials price variance Direct materials uantity variance $ Total direct materials cost variance B. If they bought 10,000 connectors costing $210, what would the direct materials price variance be for the connectors? Round your intermediate calculations to three decimal places. Direct materials price variance $ C. If there was an unfavorable direct materials price variance of $125, how much did they pay per foot for the rubber? Round your answer to two decimal places. Actual price $
Chapter6: Activity-based, Variable, And Absorption Costing
Section: Chapter Questions
Problem 6PA: Box Springs, Inc., makes two sizes of box springs: twin and double. The direct material for the twin...
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