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18 October, 09:43

Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,650 pounds of material at $5.30 and standard costs for 4,440 pounds of material at $6.40 per pound. The direct materials quantity variance is a.$5,115 favorable b.$1,344 favorable c.$5,115 unfavorable d.$1,344 unfavorable

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  1. 18 October, 12:06
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    D. $1,344 unfavorable

    Explanation:

    We know,

    Direct materials quantity variance = (Standard Quantity - Actual Quantity) * Standard price

    Given,

    Standard Quantity = 4,440 pounds of material

    Actual Quantity = 4,650 pounds of material

    Standard price = $6.40

    Putting the values into the above formula, we can get,

    Direct materials quantity variance = (4,440 - 4,650) pounds * $6.40

    or, Direct materials quantity variance = - 210 pounds * $6.40

    Therefore, Direct materials quantity variance = $1,344

    As the actual quantity is higher than standard quantity, the situation is unfavorable. Therefore, option D is the answer.
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Home » Business » Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,650 pounds of material at $5.30 and standard costs for 4,440 pounds of material at $6.40 per pound.
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