28 . The variable standard cost per unit is (E) a. $392 c. $296 b. $336 d. $152 29 .

The direct materials

price variance is (E) a. $50,000 favorable c. $10,000 unfavorable b. $50,000 unfavorable d. $10,000
favorable Based on Quantity Purchased and Used 30 . The standard direct material cost to produce a
unit of Lem is 4 meters of material at $2.50 per meter. During May 2001, 4,200 meters of material
costing $10,080 were purchased and used to produce 1,000 units of Lem. What was the material price
variance for May 2001? (E) a. $400 favorable. c. $80 unfavorable. b. $420 favorable. d. $480
unfavorable. AICPA 1195 31 . Data regarding Mill Company's direct materials costs is as follows: Actual
unit cost $2.00 Standard unit cost 2.20 Actual quantity purchased and used 28,000 units Standard units
of materials per unit of finished goods 3 units Actual output of finished goods 9,000 units What is the
direct materials price variance? (E) A. $2,800 favorable. C. $5,600 favorable. B. $5,600 unfavorable. D.
$2,200 unfavorable. Gleim Actual Price 47. ALPHA Co. uses a standard cost system. Direct materials
statistics for the month of May, 19x7 are summarize below: Standard unit price P90.00 Actual units
purchased 40,000 Standard units allowed for actual production 36,250 Materials price variance-
favorable P6,000 What was the actual purchase price per unit? (M) a. P75.00 c. P88.50 b. P85.89 d.
P89.85 RPCPA 0597 32 . Information on Kennedy Company's direct material costs follows: Standard
price per pound of raw materials ....... $3.60 Actual quantity of raw materials purchased ...... 1,600
pounds Standard quantity allowed for actual production.. 1,450 pounds Materials purchase price
variance--favorable .... $ 240 What was the actual purchase price per unit, rounded to the nearest
penny? (M) a. $3.06. c. $3.45. b. $3.11. d. $3.75. AICPA adapted 41. The Wright Company has a standard
costing system. The following data are available for September: Actual quantity of direct materials
purchased 25,000 pounds Standard price of direct materials $2 per pound Material price variance
$2,500 unfavorable The actual price per pound of direct materials purchased in September is: A. $1.85.
C. $2.10. B. $2.00. D. $2.15. G & N 10e Actual Purchases 17. Cascade Company bought 10,000 pounds of
material and used 9,500. The material price variance was $300 unfavorable and the standard price per
pound is $3. The cost of materials purchased was (E) a. $28,200 c. $29,700 b. $28,800 d. $30,300 D, L &
H 9e Standard Price 33 . During December, 6,000 pounds of raw materials were purchased at a cost of
$16 per pound. If there was an unfavorable direct materials price variance of $6,000 for December, the
standard cost per pound must be (E) a. $17 c. $15 b. $16 d. $14 H & M 42. The standard cost card for
one unit of a certain finished product shows the following: Standard Quantity or Hours Standard Price or
Rate Direct materials 10 pounds $ ? per pound Direct labor 2.5 hours $16 per hour Variable
manufacturing overhead 1.5 hours $10 per hour CMA EXAMINATION QUESTIONS Page 11 of
138MANAGEMENT ADVISORY SERVICES STANDARD COSTS AND VARIANCE ANALYSIS If the total
standard variable cost for one unit of finished product is $85, then the standard price per pound for
direct materials is: (M) A. $1.74. C. $5.90. B. $4.60. D. $3.00. G & N 10e Material Quantity Variance 37.
Cox Company's direct material costs for the month of January were as follows: Actual quantity
purchased 18,000 kilograms Actual unit purchase price $ 3.60 per kilogram Materials price variance –
unfavorable (based on purchases) $ 3,600 Standard quantity allowed for actual production 16,000
kilograms Actual quantity used 15,000 kilograms For January there was a favorable direct material
quantity variance of: (M) a. $3,360. c. $3,400. b. $3,375. d. $3,800. G & N 9e Materials Quantity Variance
Actual Quantity Used 34 . During April, 80,000 units were produced. The standard quantity of material
allow