Ask Question
15 March, 15:53

Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,640 pounds of material, $5.30; and standard costs for 4,430 pounds of material at $6.10 per pound.

What is the direct materials quantity variance?

a) $3,712 unfavorable

b) $3,712 favorable

c) $1,281 favorable

d) $1,281 unfavorable

+2
Answers (1)
  1. 15 March, 18:29
    0
    Option (D) is correct.

    Explanation:

    Direct material quantity variance:

    = [Standard quantity * Standard price] - [Actual quantity * Standard price ]

    = [4,430 * $6.10] - [4,640 * $6.10]

    = $27,023 - $28,304

    = $1,281 unfavorable

    Therefore, the direct materials quantity variance is $1,281 unfavorable.

    The variance is unfavorable as the actual quantity of materials used is more than standard quantity.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,640 pounds of material, $5.30; ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers