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Cost standards for one unit of product no. C77: Direct material 3 pounds...

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Accounting

Cost standards for one unit of product no. C77:
Direct material 3 pounds at $2.80 per pound $ 8.40
Direct labor 5 hours at $7.20 per hour 36.00
Actual results:
Units produced 7,900 units
Direct material purchased 26,300 pounds at $3.00 $ 78,900
Direct material used 23,400 pounds at $3.00 70,200
Direct labor 40,400 hours at $7.00 282,800

Assume that the company computes variances at the earliest point in time. The direct-material quantity variance is:

Multiple Choice

  • $840F.

  • $840U.

  • $7,280U.

  • $7,280F.

  • None of the answers is correct.

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