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34) The following materials standards have been established for a particular product: 34) Standard quantity per unit of output Standard price $ 4.4 pounds 13.20 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 4,800 pounds $ 62,880 4,300 pounds 700 units The direct materials purchases variance is computed when the materials are purchased. What is the materials price variance for the month? A) S480 U B) $430 F C) $480 F D) S430 U 35) 35) Piper Corporation's standards call for 1,000 direct labor-hours to produce 250 units of product. During October the company worked 1,250 direct labor-hours and produced 300 units. The standard hours allowed for October would be: A) 1,200 hours B) 1,250 hours C) 1,000 hours D) 1,300 hours 36) Kartman Corporation makes a product with the following standard costs: 36) Standard Quantity or Hours 6.5 pounds 0.6 hours 0.6 hours Direct materials Direct labor Variable overhead Standard Standard Price or Rate Cost Per Unit $ 7.00 per pound $ 45.50 $24.00 per hour $ 14.40 $ 4.00 per hour $ 2.40 In June the company's budgeted production was 3,400 units but the actual production was 3,500 units. The company used 22,150 pounds of the direct material and 2,290 direct labor-hours to produce this output. During the month, the company purchased 25,400 pounds of the direct material at a cost of $170,180. The actual direct labor cost was $57,021 and the actual variable overhead cost was $8,931. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for June is: A) $210 U B) $229 F C) 8210 F D) $229 U

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