accounting
posted by MO .
Diamond Company produces a chair that requires 5 yds. of material per unit. The standard price of one yard of material is $7.50. During the month, 8,500 chairs were manufactured, using 43,700 yards at a cost of $7.60. Determine the (a) price variance, (b) quantity variance, and (c) cost variance.

Here are some links to try on variance calculations:
http://search.yahoo.com/search?fr=mcafee&p=how+to+determine+price+vaiance%2C+quantity+variance+%26+cost+variance
Sra
Respond to this Question
Similar Questions

accounting
Diamond Company produces a chair that requires 5 yds. of material per unit. The standard price of one yard of material is $7.50. During the month, 8,500 chairs were manufactured, using 43,700 yards at a cost of $7.60. Determine the … 
Accounts
A company produces just one standard product. The company's budgeted overheads for the next financial year are £80000. Other relevant information includes: Budgeted Production: 16000 units Cost of Raw Material per unit: £4 Cost of … 
accounting
The standard amount of materials required to make one unit of Product Q is 4 pounds. Tusa's static budget showed a planned production of 4,000 units. During the period the company actually produced 4,100 units of product. The actual … 
college accounting
Jim’s Landscaping is in a business of maintaining and improving yards in the surrounding areas. The company bases its overhead cost budgets on the following data: Variable overhead costs: Supplies $4 per yard Machine maintenance … 
Cost and Management Accounting
MPLC produces jam and jelly of different flavors. The company wants to calculate the following variances based on the information provided. Standard Actual Sales(units) $900 $1000 Sales price per unit $15 %12 Variable cost of sales … 
Algebra: help
A person has 29 1/2 yards of material available to make doll outfits. Each outfit requires 3/4 yard of material. a: How many outfits can be made? 
Accounting
In the table given below, reconstruct the remaining information using the available data. [ WHERE THE X's ARE] All of the raw material purchased during the period was used in production. (Indicate the effect of each variance by selecting … 
accounting
What is the predetermined manufacturing overhead rate? 
Math
The drama teacher is making costumes for the school play. Each costume requires 1 and 2/3 yards of material and 3/4 of a yard of ribbon. The material costs $2.99 per yard and the ribbon costs 59 cents per yard. What is the approximate … 
Math
Mrs.Jacobs bought one third of one yard of material at $6.96 per yard, and 3 yards of material at $8.24 per yard. How much did she spend for all of the material?