81) On the line in front of each variance, enter the letters of the items needed to compute that variance. You will enter more than one item on each line.
A.Actual Price (AP)
B.Actual Quantity (AQ)
C.Standard Price (SP)
________Direct materials price variance
________Direct materials quantity variance
82) McNabb Corporation makes shoe polish. The standard direct materials quantity is .5 pounds per container at a cost of $2.25 per pound. The actual usage for the production of 33,000 containers was .55 pounds per cushion at an actual cost of $2.20 per pound. Calculate the direct materials price variance and the direct materials quantity variance.
83) Ayers Company reports the following standards for direct materials for the year:
Standard cost per pound$4.75
Standard amount per finished good8.5 pounds
During the year, 460,000 finished goods were produced. The direct materials price variance was $14,200 unfavorable. The direct materials flexible budget variance was $980 favorable.
Calculate the following items regarding direct materials for Ayers Company for the year:
a.Direct materials quantity variance
b.Standard quantity of direct materials for actual production
c.Actual pounds of Actual Quantity Direct Materials Used (AQU) for actual production